We’ve hopped, skipped and jumped into this week with some big news in return! As you know, Booodl onboards retail stores making it easier than ever for you to find stores selling the products you want, and in return, the retailers increase their discoverability. While that train remains at full steam ahead, we are thrilled to also announce that two brands and ALL of their accompanying stockists joined us! Without further ado, a big hello and thank you to: City Chic and The Academy Brand. We look forward to working closely with our new companions on this retail expedition together!
Do you know of a retail store or brand interested in increasing their foot traffic and getting discovered? Just send them through to www.booodl.com/retail and we will most certainly be in touch. Well that’s enough chatter from us, enjoy this week’s 5 retail updates folks!
1) Push May Come to Shove but Brick-and-Mortar Won’t Budge
There’s been a lingering concern around the survival of physical retail stores in a seemingly e-commerce driven age. However, an article from InsideRetail sends this fear into thin air! In the latest CBRE report, 83% of retailers reveal their expansions won’t be affected by ecommerce, and 17% hoping to open over 40 stores in 2016. “We are witnessing the strongest levels of international retailer enquiry in Australia to date and… only partway through this cycle” says Alistair Palmer, CBRE’s national retail director. As it seems, online retail will not deter brick and mortar anytime soon! On a similar note, Booodl aims to strengthen and encourage this in-store traffic to brick and mortar stores by combining our online and app platform for consumers to easily find the stores selling the products they want.
2) Target Sets a New Target for Other Retailers
It may not be your birthday, but Target has revealed a big surprise that will set a new benchmark for retailers near and far. This week, the retailer is opening one of many ‘Next Generation’ stores Chatswood’s Westfield as a way to “enhance the shopping experience” says Target MD, Stuart Machin. You may be thinking- what goes into one of these super stores? How does StyleMe Shoppers, an in-store café, click n’ collect services, a T-shirt printing station, clothing alteration services, digital photo kiosks, kids play zone, parent’s rooms and state-of-the-art fitting rooms sound? Cue the jaw drop!
3) Shaping Retail in 2016: Enter Location-Based Marketing
We’re not asking you to run, but agility is key to success when it comes to keeping up to speed with consumers according to Forbes. The solution, although not a new tactic, may lie in the beauty of location-based marketing. A new study from eTail and RetailMeNot Forrester Research’s SORO report identified less than 10% of retailers directing their attention to this tactic in the coming year. That being said, it presents an enormous opportunity for retailers in 2016 hoping to gain a competitive edge. Starbucks attracted a great deal of success with their ‘Mobile Order and Pay’ feature: using customers’ proximity and allowing them to order their coffee ahead. Booodl uses similar ideals in retail- notifying shoppers when they approach a store stocking an item they had previously saved to their lists! We think this is a technology well worth experimenting with. And who knows, your next customer could be closer than you think!
4) Digital Payments in a Physical Retail World
Mobile is all around us and several different technologies are being forced to adapt in order to keep pace- including the world of digital payments. While you may not have converted yet, a predicted 148 million people will be using smartphones to make payments in the coming year, a surge that’s bound to increase according to research firm- Juniper. As for now, Apple Pay has dominated the minds of many retailers interested in this form of payments: securing two-thirds of merchants interested in this solution according to survey results from financial services firm- Piper Jaffray. Android Pay and Google Wallet came in second with 18%, followed by PayPal (8%) and Samsung Pay (7%).
5) Under Armour Follows Lead in 3D Printing
The 3D printing craze is one many athletic shoe companies including Nike and Adidas have already gone head first (ahem- foot first) into experimenting with, but now Under Armour is getting in on all the fun! The athletic gear maker is launching a very limited-edition performance training shoe using 3D printing technology in the midsole and upper design to provide a precision fit, says Fortune. To get your hands on a pair of these bad boys will pocket you about $299.99, but if you can wait until their release in mid-March, you’ll have some of the coolest kicks on the block! http://goo.gl/50f3hN