MARKETING/SOCIAL MEDIA

Top five social media trends for retail industry

BY Marianne Wilson

Seattle — Pinterest will emerge as a stronger alternative to Facebook and Twitter, according to global research and analytics firm Blueocean Market Intelligence. The company analyzed the online data of the nation’s top 100 retailers from September through December 2013 as part of its on-going study assessing the business impact of top retailers’ social media efforts.

Based on the analysis, Blueocean Market Intelligence predicts the following top social media trends for the retail industry in 2014:

  1. The traditional shopping experience is evolving as more consumers move online. While the holiday season still provides many opportunities for shiny marketing promotions and campaigns, digital advances have changed the game. Retailers have more flexibility on how and when they approach customers. Last year’s Black Friday was not just limited to Friday – retailers offered deep discounts days before to gain more customers. Increased competition and customers’ lack of patience with crowds and long lines will continue to push them online, away from brick-and-mortar storefronts.
  2. Pinterest will emerge as a stronger alternative to Facebook and Twitter. During last year’s holiday season, Twitter referrals experienced the most growth with a 24% increase year over year, followed by Pinterest (17%) and Facebook (12%). While Facebook led the battle among social influencers in the online space, Pinterest emerged as the top social channel for “top of the funnel” advertising with its fast-growing referral traffic and higher conversion rates.
  3. Successful retailers will integrate omnichannel communications. Cementing an omnichannel strategy will continue to be crucial, and online-plus-mobile will equal strong sales. According to the Adobe Digital Index 2013, consumers shopped 40% more from their smartphones this past holiday season than in 2012. Retailers that identify opportunities to create a more a seamless experience with consistent communications across all platforms, as well as improved inventory and transparent pricing, will create a more fulfilling experience for customers.
  4. Content marketing will increasingly rely on social media to drive engagement. Brands will move away from a one-way content marketing push, instead leveraging social media to drive engagement, timely conversations and personalized customer interactions. However, 2014 will also bring a shift from text to more visually oriented elements such as video and pictures, affecting data storage requirements and even broader types of content. Organizations that want to harness data from social intelligence will need to acknowledge unstructured data and determine how it can be converted and made relevant for today’s business strategies.
  5. Social shopping will become a reality. Social media engagement has traditionally focused on customers in the consideration phase of the purchase cycle. However, we can now expect companies to launch greater social shopping initiatives by leveraging virtual currencies such as Bitcoins. Social shopping will not just occur on independent platforms, but will be integrated into social platforms. With a quick click, share or Tweet, customers will be able to purchase a product or service, impacting how organizations track their logistics, customer verifications and inventory management.

“In 2014, we can expect to see increased adoption of next-generation, interactive social technologies that will help retailers gain deeper customer insights and identify new market opportunities. Digital marketing strategies will be more holistic in nature to enhance customer engagement and increase sales, not only during the holidays, but throughout the entire year,” said senior VP Anees Merchant.

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A.Boon says:
Mar-05-2014 02:52 pm

The one constant in retail is change
Interesting article on retail trend. omnichannel strategies have become an essential part of retail success. Omnichannel strategies allow retailers to engage fully with a consumer through all channels, enhancing the consumer experience while creating brand awareness and improving consumer loyalty. I work for McGladrey and thought this conversation aligns well with a white paper that was created on this subject, if your readers are interested in [email protected] “ The one constant in retail is change” http://bit.ly/1hrViqk

A.Boon says:
Mar-05-2014 02:52 pm

Interesting article on retail trend. omnichannel strategies have become an essential part of retail success. Omnichannel strategies allow retailers to engage fully with a consumer through all channels, enhancing the consumer experience while creating brand awareness and improving consumer loyalty. I work for McGladrey and thought this conversation aligns well with a white paper that was created on this subject, if your readers are interested in [email protected] “ The one constant in retail is change” http://bit.ly/1hrViqk

M.Newton says:
Feb-15-2014 09:05 am

Suggestion
Social media is the best source to promote the business.Due to the increase in number of mobile users browsing web through smart phones due to which number of online customers have increased.Read more on online marketing at http://www.bbexmarketing.com/

M.Newton says:
Feb-15-2014 09:05 am

Social media is the best source to promote the business.Due to the increase in number of mobile users browsing web through smart phones due to which number of online customers have increased.Read more on online marketing at http://www.bbexmarketing.com/

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REAL ESTATE

Uniqlo to make Southern California debut

BY Marianne Wilson

Costa Mesa, Calif. — Uniqlo is expanding into Southern California. The Japanese apparel retailer will open its first stores in the region this fall, at the Beverly Center in Los Angeles and South Coast Plaza in Costa Mesa.

Uniqlo announced announced it will an additional location in Northern California, at the Sunvalley Shopping Center in Concord. Also in the works: a store at Stamford Town Center, Stamford, Conn.

The retailer, owned by Japanese holding company Fast Retailing Co., currently has 17 stores in the United States.

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MARKETING/SOCIAL MEDIA

IBM: Valentine’s Day online shopping up 8%

BY Dan Berthiaume

White Plains, N.Y. — Overall online shopping rose 8% during the week before Valentine’s Day compared to the same period in 2013. Growth was particularly strong in the categories of gifts (up 20%), apparel (up 17%) and health and beauty (up 15%), and department stores (34%) compared to the previous year.

Key drivers of this year’s Valentine’s Day shopping rush (Feb. 7 – Feb. 13) include mobile traffic accounting for 36.8% of all online traffic, up 39.6% compared to the same period in 2013. Mobile sales also remained strong at 17.2% of all online sales, up 42.9% from 2013. Smartphones drove 23.3% of all online traffic compared to tablets at 13.3%, making it the browsing device of choice.

When it comes to making the sale, tablets drove 11.4% of all online sales, twice that of smartphones, which accounted for 5.6%. Tablet users also averaged $135.26 per order, compared to smartphone users, who averaged $114.00 per order.

As a percentage of total online sales, iOS was more than four times higher than Android, driving 13.6% compared to 3.4% for Android. On average, iOS users spent $132.28 per order, compared to Android users who spent $110.54 per order. iOS also led as a component of overall online traffic with 24.6%, nearly twice that of Android users at 11.9%.

And looking at social influence, shoppers referred from Facebook averaged $125.24 per order, compared to Pinterest referrals, which drove $147.74 per order. However, Facebook referrals converted sales at 3.5 times the rate of Pinterest referrals, perhaps indicating stronger confidence in network recommendations.

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