• Weekly Retail Update: June 12, 2017

  • June 12, 2017
Weekly Retail Update

Online Shopping Forces Retailers to Alter Trade and Brand Marketing

In a new report from Criteo and Kantar Millward Brown, “Trade Marketing in Transition,” ecommerce growth is forcing retailers to rethink how they are budgeting for trade and brand marketing. “Trade marketing is undergoing a profound shift,” said Jonathan Opdyke, president, brand solutions, Criteo. “To profitably target and acquire shoppers, both online and offline, marketers must adapt their trade practices and budgets,” he added. “Retail marketers need solutions that allow for real-time measurement of ROI, and an end to the debate between offline vs. online, in favor of an omni-channel approach.” (CSA)

Nine West May be in Trouble According to Loyalty Data

With retail closings expected to hit a record high this year, brands and retailers everywhere are scrambling to make sure they aren’t the next casualty. For Nine West, their efforts to win customers is falling short and may cause them to be the next retail power player to fall. According to data from inMarket’s spring loyalty report, Nine West finds itself in a dire situation where it may have to close doors or layoff employees. Other retailers hitting the bottom of the list for loyalty points include Crocs, Toys ‘R’ Us, and Wet Seal. (CNBC)

Store Employees Lack Digital Tools 

According to the 2017 Retail Associate Technology Study from Salesfloor, 25% of retail employees said they are not given the right digital tools to do their job. The study also unveiled that 72% of employees would be more willing to work for a retailer who gave them access to those tools, and 50% felt they weren’t reaching their full potential in their roles. The study was presented last week at the Internet Retailer Conference & Exhibition in Chicago, where Joe Milano, senior vice president of digital retail at Saks, discussed their use of Salesfloor’s Storefront. (RetailDIVE)

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About Holly Pels

Holly Pels is the Content Strategy Manager at RICS. When she isn’t planning out the awesome content you see on the RICS site, you can find her playing soccer, baking, or drinking champagne.