Another year is about to come to a close, so it’s a good time to pause and look back at the last twelve months, reflect, and uncover any lessons to be learned. This year, we published new content about retail technology and trends every single week, so there’s a lot to review! We looked at website traffic to narrow down the top most popular articles we published this year on the Mi9 Retail blog and found some interesting (although not necessarily surprising) results. There are some clear trends in the types of content that resonated with our audience. These trends align with what we’ve seen in the industry overall and include gaining a better understanding of customers and customer behavior, creating better shopping experiences, using data more wisely, and keeping that data secure.
Interested in reading the articles that resonated most with our readers in 2018? Read on and click on any of the titles below to view the original article.
Millennials and Gen Z may be receiving the lion’s share of attention from the media and marketers these days, but retailers shouldn’t underestimate the effect that Baby Boomers can have on their businesses. Baby Boomers are growing in spending power, as they are expected to inherit a whopping $8.4 trillion by 2030 and most of them are, or will soon be empty nesters (Forbes). This article explores some best practices retailers can employ to appeal to Baby Boomers, to both achieve higher ROI and create the memorable shopping experiences that these customers demand.
Retailtainment – the convergence of shopping and entertainment – is a growing trend in retail that’s meant to deliver enticing in-store customer experiences. In this article, we explore the reasons why retailtainment is growing in popularity, including the changing role of the physical store. We also discuss whether retailtainment is really the best way to create memorable and profitable retail shopping experiences. Retailtainment may be getting a lot of hype in 2018, but the basics of retail are still what keeps customers satisfied and coming back for more.
Modern retailers have both a challenge and an opportunity when it comes to the mounds of data that new channels and new customer journeys present. In this article, we compile 20 compelling statistics about retail analytics and present some clear conclusions. First, that most retailers are still struggling to make the most of their data, next, that companies who use big data effectively can see an increase in their sales, profits, and customer retention, also, that retail analytics play an important role in improving the customer experience, and more.
With all that data comes responsibility and risk. There was once a time when retail loss prevention was mainly concerned with shoplifters and cashiers pocketing a little change from their till. Nowadays, however, the stakes are much higher. Cybercriminals are constantly on the prowl, seeking out their next victim. They’re not after your inventory or even your cash: they want your data. This can cost retailers immeasurably in terms of fines and damages to their reputation. In this article, we share 20 facts that retailers need to know related to data security.
In this article, we explore the concept that more data does not necessarily equal more value. Retailers need to put the right technology and processes in place to ensure that they make the most of the mountain of customer data they are faced with. To fully maximize the benefits that come from using customer data more effectively and make the shopping experience a positive one for both the customer and the bottom line, retailers need to consider how that data can be used at every level of the organization: from the enterprise (or head office), to the store and store associates, and, ultimately, to the customer.