Wal-Mart’s History Of Copying Rivals

Wal-Mart’s History Of Copying Rivals


Wal-Mart’s History Of Copying Rivals

GettyWalton’s Five and Dime was the predecessor to Wal-Mart. Wal-Mart has a long history of stealing ideas from competitors. In a recent interview, Wal-Mart Stores CEO Doug McMillon said the tradition is part of the retailer’s “DNA.” “I mean going all the way back to Wal-Mart founder Sam Walton, we had a part of our DNA that was interested in learning from others,” McMillon told PBS’ Charlie Rose. “Copying good ideas. Don’t be so proud that you can’t implement a good idea.” Source: Wal-Mart Founder: ‘Most Everything I’ve Done I’ve Copied From Someone Else’ | Business Insider India Rights to all content (text, images, videos etc.) with post source. If you think these are wrongly attributed email us

Why Retailers Keep Sending You Catalogs

Why Retailers Keep Sending You Catalogs


Why Retailers Keep Sending You Catalogs

Many things made with paper have become relics because of computers and the Internet: the Rolodex, multi-volume encyclopedias, even physical maps. Now take a look in your mailbox or somewhere around your house. There’s a good chance you’ll see a shopping catalog, maybe a few of them now that it’s the holiday season. So why, in the digital age, are they still around? Source: Here’s Why Retailers Keep Sending You Catalogs : NPR Rights to all content (text, images, videos etc.) with post source. If you think these are wrongly attributed email us

Why Online Shopping Is A Nightmare For Retailers

Why Online Shopping Is A Nightmare For Retailers


Why Online Shopping Is A Nightmare For Retailers

Every major retailer is investing heavily in e-commerce and many are closing physical stores as more and more consumers shop online. It might sound like a money-saving move to shift more business online. But due to shipping and packaging costs, as well as higher rates of returns, some retailers end up losing money online – xosts can run as high as 25% of sales for retailers that outsource their e-commerce operations. Source: Why Online Shopping Is A Nightmare For Retailers | Business Insider India Rights to all content (text, images, videos etc.) with post source. If you think these are wrongly attributed email us

A brief history of Black Friday

A brief history of Black Friday


A brief history of Black Friday

The modern use of “Black Friday” didn’t come from: sales records going from red ink (losses) to black ink (profits), a stock market scam in 1869 (that did happen, though), employees calling in sick the day after Thanksgiving to have a four-day weekend, the American slave trade. Thankfully, the truth is far more interesting. The term “Black Friday” originates with Philadelphia traffic police in the mid-20th century – for the day following the Thanksgiving holiday every year when the traffic in downtown (Center City) Philadelphia became almost unmanageable . They called it “Black Friday,” because of the massive traffic jam that they dealt with all day due to shoppers, and then all night due to the Army-Navy football game. Every ‘Black Friday,’ no traffic policeman was permitted to take the day off. The division was placed on 12 tours of duty, and even the police band was ordered to Center City. It was not unusual to see a trombone player directing traffic.” Source: Black Friday: a brief history of madness and discounts Rights to all content (text, images, videos etc.) with post source. If you think these are wrongly attributed email us

How Start-Ups are Changing the Future of Retailers

How Start-Ups are Changing the Future of Retailers


How Start-Ups are Changing the Future of Retailers

There is a wave a foot in the start-up community with companies developing products that will make it easier for consumers to find the best price for an item. Consumers will even be able to check out where the product is available locally for the best price – all from just standing in front of a retail shelf and looking up the item on their mobile device. This creates a huge problem for retailers. It’s as if every store on the planet is located in the palm of a consumer’s hand. Source: How Start-Ups are Changing the Future of Retailers Rights to all content (text, images, videos etc.) with post source. If you think these are wrongly attributed email us

Here’s How Online Stores Change Prices Depending on How You Shop

Here’s How Online Stores Change Prices Depending on How You Shop


Here’s How Online Stores Change Prices Depending on How You Shop

A team of researchers at Northeastern University recently analyzed how e-commerce sites tailor prices to specific shoppers based on their digital habits and demographics, such as their ZIP code. According to the study, presented last week at the Internet Measurement Conference in Vancouver, major e-commerce sites including Home Depot, Walmart, and Hotels.com list online prices that are all over the map, and in some cases, these prices are “personalized” to the behavior of particular shoppers, including whether they shop on a phone or on a desktop. Source: Online Stores Change Prices Depending on How You Shop. Here’s How | WIRED Rights to all content (text, images, videos etc.) with post source. If you think these are wrongly attributed email us

Creating Engaged Brand Evangelists with Social Media

Creating Engaged Brand Evangelists with Social Media


Creating Engaged Brand Evangelists with Social Media

For nearly 10 years, social media has been in the spotlight and, at the same time, a thorn in the side of many companies. Retailers in particular are constantly reminded of social media’s influence. Instead of steeping themselves in expert tips and hacks, companies would be wise step back and remember what’s at the core of the social interaction: Social platforms are merely tools for achieving a higher goal, which is creating an engaged customer base of brand evangelists. Source: Fashioning a Memorable Retail Experience That People Will Share – Yahoo Finance Rights to all content (text, images, videos etc.) with post source. If you think these are wrongly attributed email us

Is Your Retail Staff Ready For Digital

Is Your Retail Staff Ready For Digital


Is Your Retail Staff Ready For Digital

Retail staff in stores will have to change how they work as more shops begin to roll out digital solutions in their stores, leading directors in retail have said. As part of a seamless customer experience, retailers are trying to implement omnichannel solutions to tie up their online, mobile and in-store offerings. When digital solutions hit the shop floor, the existing shop assistants will have to be retrained and learn how to get the most out of the new tools, which may be complicated. Source: Retail staff will have to change as digital strategies take over Rights to all content (text, images, videos etc.) with post source. If you think these are wrongly attributed email us

Can Department Stores Regain Their Relevance?

Can Department Stores Regain Their Relevance?


Can Department Stores Regain Their Relevance?

In the heyday of department stores, fashionable ladies flocked to luxury emporiums like Le Bon Marché, Bergdorf Goodman, Saks Fifth Avenue and Selfridges. Department stores were wondrous and bright communal playgrounds, places to socialise and explore the seemingly endless stock of goods, often from far-flung locales. In the fight for consumer dollars, department stores have lost significant ground to monobrand stores, specialty retailers and e-commerce players. Can they regain their relevance? Source: Reinventing The Department Store – BoF – The Business of Fashion Rights to all content (text, images, videos etc.) with post source. If you think these are wrongly attributed email us