While the days of glamorous expatriate writers tramping across Europe are long gone, retailers are increasingly trying to recreate the atmosphere of seamless access to whatever your heart desires, via mobile devices and apps.
Blue Apron. Dollar Shave Club. The RealReal. The Honest Company. All startups, all relative newcomers to the retail scene, and all generating big buzz and sale increases — enough to place them among the top 20 fastest-growing e-retailers in a recent survey.* They are all pure players (at least for now) and if you don’t see them as competition, think again.
E-commerce infrastructure and cybersecurity initiatives. HVAC equipment upgrades and energy management systems. These days, retail CFOs must allocate capital expenditures to an ever-growing list of components — not all visible to the public but critical to corporate health.
Customer relationship management (CRM) is the strategy a retailer uses to develop an ongoing, individual relationship with a customer to ensure satisfaction and loyalty. But the specifics of CRM can mean different things for different retailers.