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Running a radical, mission-driven brand can be tricky. East Fork Pottery's Connie Matisse explained at this week's Modern Retail+ Talk the need to integrate values throughout business decision, and why "not everyone needs to be your customers." Consistently defining your company and what you stand for is integral in finding and retaining customers, she said.
Both businesses and consumers are seeking out more flexible payments options. E-commerce platforms like Shopify and Alibaba are building out their own features -- granting both consumers and merchants more flexible payments options. Shoppers utilize these services to finance purchases without the use of credit cards; small online retailers are increasingly being offered the ability to procure or produce inventory without fronting large sums of money.
Despite social distance restrictions being loosened in California, the timeline for Grove's San Francisco office return won’t be until “sometime after Labor Day," said CEO Stuart Landesburg. With pre-planned product launches being pushed back, the strategy to resume facility operations has proven tricky. While some members of the team are able to work remotely, others who need to test and devise new products are having difficulty doing their jobs. It's a problem felt by many brands.
Virtual try-ons quickly took the place of fitting rooms, and with many brands still strategizing reopenings, the solution has quickly become a growing part of the e-commerce offerings. For brands that heavily rely on help from store associates and customer test runs to make sales and minimize return rates, such as Lululemon, Deciem and Design Within Reach, providing virtual customer support is a long game.
Running different channels requires skills and discipline. Brand consistency is key, especially when many channels are involved internationally and across different touch points. Ask “what are the reasons to come to the site and why is the experience special?” said Ugly Drinks CEO Hugh Thomas.
The reservation-to-shop trend is in full swing, and results have been mixed. While grocery chains like DeCicco & Sons have “received an overwhelmingly positive response from customers," other businesses that rely on heavy walk-in traffic, such as bakeries, haven't found them very useful.
Most American shoppers are still “fearful to shop at a grocery store." The lack of delivery slots combined with a rising unemployment rate and shopping-related health risks, is resulting in a decline in cross-shopping. Grocery stores, as a result, are trying to focus more on marketing as one-stop shops. And they're seeing results too: average basket sizes have dramatically increased.
Brooklinen's marketing team explains why customer feedback is valuable during a crisis. Checking with the audience helped them modifying tone and content, target offline customers and make them comfortable with e-commerce, and leverage existing social media resources to further build customer loyalty.
"Obviously, it’s impossible to pin a garment at a six foot distance," said Suitsupply CEO Fokke de Jong. This prompted him to think outside the box by installing clear, free-standing partitions for fitting areas. But the overall strategy focuses on starting the shopper's journey before arriving at the store, including encouraging virtual co-browsing and fitting room reservations, to increase efficiency and reduce contact.
Pinterest's retail partnerships team at Pinterest has been sharing data with participating retailers “on a weekly basis," said its head of retail. The social media platform has been giving brands ideas on the kind of content customers are searching for on the platform.
Reservation platforms like OpenTable, Resy and Tock have modified expanded their toolsets, resulting in a new category of retail appointments. As restaurants are either closed or relying takeout only, these back-end services are scrambling to pivot their offerings to survive the year. “I think retailers are going to turn to appointment based visits indefinitely,” Tock CEO Nick Kokonas said.
Over the last three month, consumer behaviors have shifted -- and the strategies behind retail expansion have changed dramatically. At this week’s Modern Retail +Talk, Iris Nova’s founder and CEO Zak Normandin explained why the pandemic is a test for DTC brands that are hoping to maintain a brick and mortar presence.
From fitness and wellness, to snacks and lunches, employers are coming to terms with transitioning on-premise benefits to their teams virtually. To offset potential churn -- and even potentially add new clients -- some B-to-B players in charge of stocking startups’ kitchens and providing corporate gym memberships, are expanding what they offer to meet clients where they are. Here are some of the business changes brands have recently made.
California's soft store re-openings are being spearheaded by local businesses and smaller startups. The DTC brand Vuori, for example, is starting with curbside pickup but is already strategizing what re-opened stores will look like.
The mass adoption of contactless POS technology could finally take over. A growing fear of the virus spreading with credit cards and cash handling has pushed more merchants to implement touchless payment options.
A number of companies are fighting Apple over a tax it takes for apps that charge for digital events. It's a long brewing battle, and Apple recently gave a few a reprieve. But the issue doesn't target just a few big companies, but also smaller ones that are trying to diversify their offerings into digital services.
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