Bloomberg: How to Bring the Wonder Back to Retail
Despite what article three below suggests, technology isn’t always the answer. Sometime we need to turn the clock back and reinvent something old to attract a new audience. In her commentary on Bloomberg.com, Virginia Postrel traced the history of shopping from the introduction of credit cards into the spending process and the days when catalogs were king. But she brings it all back around to retailers needing to emphasize the experience that can keep shoppers in-store, preferring the real-world experience as opposed to simply tapping on a cell phone to purchase stuff. “When a new food processor or set of towels is just a click away, fighting through the crowded aisles of a big-box store is an obsolete chore. But an after-work class on ‘quick and easy desserts’ or a lunchtime lesson in ‘basic knife skills’ might be worth the trip,” Postrel wrote.
Retail Major Component of Los Angeles Construction Boom
Increased investment in Los Angeles has spurred a construction boom the likes of which haven’t been seen in a long time, and retail, surprisingly to some, near the top of the list. Among the new condos and office space are new restaurants and retail shops, being built at a pace that rivals the Roaring 20’s, according to a recent article in the LA Times. One of the projects, the $1-billion Oceanwide Plaza by Oceanwide Holdings and targeted for completion in 2019, includes “166,000 square feet of shops and restaurants and a massive LED screen wrapping the west side of the project.”
2017’s Top Business Intelligence Tools (that can be applied to retail)
Every business is different, of course, and some have implemented various technology tools at different rates. Generally speaking, retail companies can all benefit from advanced IT tools. The folks at Business Solutions magazine consulted an industry analyst from Business Application Research Center. BARC’s BI Trend Monitor 2017 study found “eight meta trends that affect and influence the investments, strategies, and operation of enterprises” including security, analytics, mobile and artificial intelligence. “Only after business data is integrated and stored, and then processed as information, is it possible to create a foundation to analyze and make decisions regarding operational procedures,” said Sascha Alexander, BARC’s director of communication.
DMM: Boost Your Sales Prospecting and Marketing with DMM’s Custom Data Products
Need to dive deeper into the data? We can create V.I.P. contact files, database files, mailing lists and reports for you based upon your specific needs. Standard formats with any one or more of the six primary contacts can be included along with other fields of data from the most current DMM database. More information on our Custom Data Products can be found here.