This Week in Retail: Big holiday mistakes for SMBs, why millennials love in-store pickup, and more

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Hey there and welcome to another issue of This Week in Retail! Our roundup today has articles on the future of retail, customer appreciation, retail intelligence, and more.

Dig in!

1. Change is a small-business constant – “Make sure you continue to market your business in new ways, because people are not getting their information they way they used to,” writes small biz lawyer Steve Strauss. In this post, he talks about why small businesses shouldn’t rely on old habits and tools when marketing to consumers of today. He also talks about some of the common small biz mistakes that merchants make during this time of year. From discounting too much to relying heavily on social media, his article teaches retailers a thing or two about what NOT to do during the holiday season.

2. Forward focused: What’s ahead for retail in 2015 – How will retailers manage inventory and handle orders in the coming year? Where are mobile payments heading? What retail technologies will we see more of in 2015? The NRF aims to answer all that and more. In this insightful feature, they talk about some of the biggest issues that are bound to make waves in the coming year. Check it out!

3. 7 customer appreciation ideas for your small business – Want to show your loyal patrons just how much you love them? Give them a token of your appreciation during the holiday season. In this post, Aurelie Chazal shares a cool infographic packed with ideas on what to give your customers. She also gets into more detail and offers tips, photos, and examples for each idea so you’ll know exactly how you can put them to action.

4. Knowledge is power: how do you handle retail intelligence? – The common line “knowledge is power,” couldn’t be more true in the retail world. Data and insights from customers (e.g. purchase histories, feedback, etc.) can help you make smarter decisions that can take your business to the next level. Customer data however, is only the beginning. In this post, Sara Clarkson sheds light on other types of retail intelligence that you should look into. From pricing data to employee behavior, you’d be surprised at the amount of useful data you can get your hands on.

5. Retailers must improve their stores to win over the ‘storeless generation’ – Brick and mortar retailers who want to engage millennials “need to make the appeals of online shopping apparent and integrated into the in-store experience,” says Lee Peterson of WD Partners in an interview with SBNonline.com. One effective way of doing this is offering Buy Online Pick Up In Store (BOPIS) services. According to a recent study, BOPIS is one of the most enticing fulfillment options for modern shoppers (notably millennials). Read the post to get the results of the study, and check out our post on online ordering and in-store pickup for tips on how to implement the service.

 

About Francesca Nicasio

Francesca Nicasio is Vend's Retail Expert and Content Strategist. She writes about trends, tips, and other cool things that enable retailers to increase sales, serve customers better, and be more awesome overall. She's also the author of Retail Survival of the Fittest, a free eBook to help retailers future-proof their stores. Connect with her on LinkedIn, Twitter, or Google+.

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