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Mark Price's RetailWire Blog
March 15, 2010
I am not as sure as some others that consumers will maintain their increased savings rate over the long-term. I believe that when the news continues to be this murky, people tend to act in ways that represent "conspicuous curtailing" rather than "conspicuous consumption. That trend does not ...
March 1, 2010
There is a tendency to look at the issue as a macro one, rather than a truly granular challenge. The issue is not how retailers manage their inventories, although that appears to be the issue. The real question is--what do Best Customers need from your company, and can they ...
February 25, 2010
In e-commerce, the connection between customer service and revenue is easier to calculate and more dramatic in impact. E-tailers who cut costs and short the experience of customers, particularly Best Customers, will find themselves in hot water in a direct, calculable way.Why is this so? Because all transactions ...
February 24, 2010
I admire the First Lady for taking on this cause, but she is working with one of her well-sculpted biceps tied behind her back. The recommendations here are mostly band-aids--the food pyramid has been an embarrassment for years, mostly funded by corn and CPG manufacturers. To succeed, we need ...
February 24, 2010
Doug:Excellent advice for a small business. I think that your recommendations can be enhanced by first developing a strategy for building customer relationships. The "what" needs to come before the "how." After you build a plan for how you will engage your customers, particularly your best customers, then you ...
December 28, 2009
On the plus side, being small and nimble permits retailers to quickly adapt to changing customer preferences and to build closer relationships with Best Customers. The close customer contact provides rapid feedback on assortment, pricing and marketing activities. In addition, much technology can now be accessed at little cost, ...
December 27, 2009
Understanding customers, particularly Best Customers, is a critical part of retail marketing that I often find overlooked by merchants. Much of the time, I find them selecting products and advocating for marketing strategies to target people like themselves, when customer behavior has "moved on" some time ago. People ...
December 27, 2009
With the introduction of customer-level data, dunnhumby has revolutionized the CPG industry. What they are finding is consistent with other direct-to-customer retailers--less than 20% of customers represent between 45-60% of revenue and more than that of profit. The movement of these customers in their loyalty to the retailer ...
December 14, 2009
It is absolutely true that marketers do not often take the time to understand the basis of the research that they are presented with. Understanding how the research is developed and the analysis approach used to develop recommendations is an important, if misunderstood, part of the job description for ...
November 30, 2009
From a technology side, it is clear that cloud computing holds significant advantages for retailers. Not only does it expand the ability of retailers to deploy and manage their applications with very low total cost of ownership (TCO), but it also permits companies to quickly make changes that can ...
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