Video: the Overlooked Digital Tool for Retail
We've heard lots of stories about mobile and location-based marketing, but one tool that seems to have been taking a back seat lately is video. A large portion of the coveted millennials demographic says those how-to videos posted on YouTube are a critical part of the decision-making process when buying products. YouTube's owner (Google) has, according to David Kaplan of GeoMarketing.com, been studying the “micro-moments” to find the “connection between mobility, search, and in-store purchases.” According to their report, videos provide “videos provide a prelude to a larger conversation that users can have in-store.” Now I know what you're thinking: “Google produced a report that concludes its video product is fantastic? Stop the presses!” It makes sense, though. Watch any teen or kid with a phone and observe: they are constantly watching videos not just on YouTube, but SnapChat, Instagram, Vine and more. Make the videos work for your business.
Save this Article for Five Years and See if They Were Right
Could you have envisioned in 1992 how the world would be shopping in 1997? Some did. Think we'll know what shoppers will be doing five years from now? The always forward-looking folks at Fast Company magazine recently posited that question to a handful of industry experts. I know we worry that we're losing everything to online shopping experiences. That may not be the case and it may even be heading the other way. One predicts the return of the “mall rat” who wants to “see, touch, and experience a product before making a purchasing decision, or maybe even just be inspired.” Another thinks we'll see more online-born companies expand to brick & mortar (a trend that's currently underway) since shopping will be “less about being transactional and more about the experience and ability to use the store as a media platform” for branding.
Outlets at a Casino? That's Quite a Gamble #sarcasm
Large casinos often feature high-end luxury shopping experience. The Mashantucket Pequot Tribal Nation rolled the dice recently and held a grand opening for the newest Tanger Factory Outlet Center, located at its Foxwoods Resort and Casino in Connecticut. Stuntman Nik Wallenda will reportedly walk a high wire more than 700 feet between the parking garage and the new outlets as part of a Memorial Day promotional stunt. Gordon Group's Matt Armstrong, the developer of the project, told the Greenwich Time that, “There was the concern… the retail would siphon all of the dollars. In fact, the opposite happens. The retail actually lifts the casino spending. [In Vegas] there isn’t a single casino that doesn’t have some kind of a large retail component.”
THANKS FOR VISITING DMM AT RECON 2015:
We'd like to thank everyone for taking the time to visit us at RECon 2015 last week in Las Vegas. It was great to reconnect with “old” faces and greet the new ones on the show floor. We talked to many of you about the new features in our DMM Mapping tool, walked lots of you through the new features available at ShoppingCenters.com, and talked about our informative new white paper on market saturation analysis that we prepared with Pitney Bowes. Click here to learn more and request a copy of the white paper.
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