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GLOBALSHOP, LOCAL SHOPPING

Just back from GlobalShop in Las Vegas, we saw innovative approaches that remind us that the in-store experience remains crucial to retail success for consumer goods.

Here a few highlights from the robust seminar program:

  1. Nick Jones of ARC Leo Burnett pointed out the US shoppers made 38 billion trips to the store in 2010 but only 17 billion in 2013! Yikes! Over that same period, retail sales actually still grew from $681B to $783B. People have become more prudent and targeted with their shopping time. Better make it worth their while!
  2. Georgeanne Bender and Rich Kizer of Kizer & Bender reported that their research shows that “78% of shoppers prefer stores perceived as ‘more fun.’” (Ya think?) They also point out that 50% of a typical store floor isn’t even seen by the average shopper who instead goes where s/he needs to go, not where the store wants them to go.
  3. Jon Harari of WindowsWear pointed out that Macy’s at Herald Square in Midtown Manhattan is the largest single store in the world at 2.2 million square feet. It’s undergoing a $400 million remodel. “Do you think that THEY believe in the power of retail environments?”
  4. Jean-Pierre LaCroix of Shikatani LaCroix reported on their survey of 3000 consumers in 100+ retailers where they asked, “Do you browse in-store but then buy online?” Answers: 41% rarely or never do; 44% do sometimes; and 15% do it often. People still shop in stores, folks.

We learn a lot at GlobalShop every year. But more important that learning is applying what we learn. At Tusco, we look for ways to ingenuously apply what we learn in-store every day.