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The Thrill of the Deal: Harnessing the Power of Promotions for Business Growth

Retail Focus

Businesses recognize this, as perhaps more importantly, they have understood the psychology behind the promotional offers they can make and the impact they can have on the consumer. Deals can create a sense of urgency Every single industry will have numerous businesses competing with each other for as much of the market as possible.

Promotion 130
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Post-BFCM: Four strategies to retain your new customers

Inside Retail

While every customer secured during BFCM is important, every new browser who visited the site or responded to a promotion represents a new prospect for long-term engagement and conversion. This week the company shares four strategies that retailers can leverage to capitalise on post-BFCM momentum and retain new customers.

Strategy 130
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Navigating the fine line between AI, personalisation and engagement

Inside Retail

Even if they haven’t bought a product yet, the behaviour of other customers may indicate that they will. The risks of personalisation But it’s very easy for this personalisation to cross the line into intrusiveness. Recommendation engines are believed to drive up to 35 per cent of Amazon’s sales. Personalisation also drives loyalty.

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Retail rush to digital exposes big gaps in strategy and vision new survey reveals

Retail Focus

79% point to big gaps between digital strategy and what can actually be achieved (significantly higher than the study’s overall cross-industry figure of 64%). 67% think that their organisation lacks a clear digital strategy. Leon Gauhman, co-founder and chief strategy & product officer of digital product consultancy Elsewhen.

Strategy 239
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Thriving Through Retail Seasons: Financing Strategies For Consistent Growth

RetailMinded

By implementing strategic financing strategies, retailers can position themselves for consistent growth and long-term success, regardless of the time of year. One approach is to explore short-term or seasonal lines of credit from financial institutions. In these instances, having a well-planned financing strategy can be a lifeline.

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‘Crises drive innovation’: ARA CEO talks strategies for Australian retailers

Inside Retail

And all of this is taking place whilst retailers also navigate the largest set of government reforms in decades and a retail crime wave that is impacting the well-being of workers and the bottom line of companies.” Promotions and offering value are a big part of this, especially during a cost-of-living crisis.

Strategy 130
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How to Manage Seasonal Sales and Promotions Across Multiple Locations

Compliantia

In fact, for brick and mortar retailers, promotions generally account for anywhere from 10% to 45% of total revenue. Understanding how to manage seasonal sales and promotions is key to running a successful store. This job of managing promotions becomes more complex when you start adding multiple locations into the mix.