This year I used the internet as a key resource for finding myself a new car. Obviously I wanted the best car I could get for my budget since I planned to have this car for at least five years. I had no clue what I really wanted other than that I wanted one that was in almost new condition since I have done the older cars and they were not to my liking. (to say the least)
I utilized an oft-publicized website of cars.com. It gave me choices in my price range and in my area. It helped me compare cars and make an informed decision about what kind of car I actually wanted. In the end I ended up buying a Malibu and it is by far my favorite car yet.
Why am I dicussing this? Shopping online is extremely easy to do these days. I actually do most of my holiday shopping without ever leaving my computer. The sheer volume of information that is available is astonishing. Stores are coming up with more and more ways to attract consumers to their websites and into their stores. Virtual tours and 360 degree images allow consumers a better look at the items they are searching for.
Just like my search for the perfect car on cars.com required a lot of information, it is important for retail stores to do their homework concerning online advertising. I have heard that online advertising is growing by leaps and bounds and will even exceed print advertising in some industries in the near future, if not already. It is not hard to imagine. Especially when you can go already order items from all over the world, yet another topic that is discussed to prove that it is truly a global economy. The stores that recognize the power of the internet are the ones that will grow in the future.
Wednesday, December 3, 2008
Tuesday, December 2, 2008
Barnes and Noble Move
There is an obvious connection between foot traffic and sales. It is common sense to suppose that the more people that walk past or into a store potentially increase sales from increased exposure. Fortunately for Woodland Mall stores, foot traffic will definitely increase in the years to come. Why? Its simple. Barnes and Noble is relocating itself from on 28th street to being included in the mall. Perfect for the other retailers, such as JCPenney where I work.
The first time I heard about the move it was from one of my bosses. He was excited because it would increase the number of people that come to the mall since book stores generate foot traffic. Oh, we can sit here and debate the intelligence of the move on behalf of Barnes and Noble, but don't forget that the store has to compete with Schuler's down the road. A bookstore that has ambience down to a science.That part is not up for discussion at the moment. The interesting part is that Barnes and Noble has discovered an error in their location and are taking steps to fix it. The 28th street location is behind restaurants and set back from the road. If you aren't looking for it, it is possible to miss it. How that is possible is unknown considering that it is a huge store. But, I know that it has since I missed it the first time I ever went down 28th street.
Location is key as I've said before, and I applaud Barnes and Noble for realizing and then ACTING on that realization. Information isn't enough...it must be followed by an action.
The first time I heard about the move it was from one of my bosses. He was excited because it would increase the number of people that come to the mall since book stores generate foot traffic. Oh, we can sit here and debate the intelligence of the move on behalf of Barnes and Noble, but don't forget that the store has to compete with Schuler's down the road. A bookstore that has ambience down to a science.That part is not up for discussion at the moment. The interesting part is that Barnes and Noble has discovered an error in their location and are taking steps to fix it. The 28th street location is behind restaurants and set back from the road. If you aren't looking for it, it is possible to miss it. How that is possible is unknown considering that it is a huge store. But, I know that it has since I missed it the first time I ever went down 28th street.
Location is key as I've said before, and I applaud Barnes and Noble for realizing and then ACTING on that realization. Information isn't enough...it must be followed by an action.
Wednesday, October 22, 2008
Credit Card Applications
There has been a lot of discussion lately about credit cards and the upcoming holiday season. Traditionally, many shoppers will purchase for Christmas using only their credit cards and will pay them off over the course of the year. Bad plan? Well, not always. It is better to pay cash when you can, but its not always possible in this day and age. Retail stores even rely on consumers using their cards, a big part of the reason why sales associates all over are required to ask you to sign up. I work in a major retail store and we are daily reminded to ask every customer to apply. It gets old for the associates too, I promise no one looks forward to asking, "would you like to apply for a _____ credit card? You'll save ___ percent!"
The correct answer should usually be "No thank you." It shouldn't be "NO! Stop asking." It is the associate's job to ask. Jobs are not so easy to come by these days that anyone is going to risk losing one just because one customer has had a bad day. That just isn't practical. So from one sales person to anyone reading this, "Sorry, thats the breaks. Just let it go in one ear and out the other. Thank you for patronizing my store and for not having a fit over something I can't change."
It will be interesting to see how consumers react to the upcoming season following all of the financial woes of recent times. Hopefully, (for my job!) customers will pay attention to what they are spending while still using credit cards that are so important for store sales. Oh, and if you make a big purchase... go ahead, say "Yes, I would like to apply." And then be smart enough to pay it off as soon as possible. Financial difficulties do not have to mean there will be nothing under the christmas tree, it just means that it might be wrapped in newspaper instead of custom wrapping paper.
The correct answer should usually be "No thank you." It shouldn't be "NO! Stop asking." It is the associate's job to ask. Jobs are not so easy to come by these days that anyone is going to risk losing one just because one customer has had a bad day. That just isn't practical. So from one sales person to anyone reading this, "Sorry, thats the breaks. Just let it go in one ear and out the other. Thank you for patronizing my store and for not having a fit over something I can't change."
It will be interesting to see how consumers react to the upcoming season following all of the financial woes of recent times. Hopefully, (for my job!) customers will pay attention to what they are spending while still using credit cards that are so important for store sales. Oh, and if you make a big purchase... go ahead, say "Yes, I would like to apply." And then be smart enough to pay it off as soon as possible. Financial difficulties do not have to mean there will be nothing under the christmas tree, it just means that it might be wrapped in newspaper instead of custom wrapping paper.
Thursday, September 18, 2008
Digital billboards
Has anyone else noticed the new billboards along the highways? They are like giant television screens. No longer does the billboard switch images by flipping individual pieces. Now the whole screen changes at once, truly a giant tv. Well, guess this is the newest way to fight the tivo craze. It will be hard to avoid commercials/advertisements on the way to work! The sheer novelty of the screen is sure to make it financially viable for the advertisers.
The first one in Grand Rapids is on U.S.131 near 28th street and created an uproar before it was even put up. Matt Vande Bunte wrote an article for the Grand Rapids Press that sums up the main concerns for the new advertising technology. According to the article, CBS Outdoor Inc. had to win a court battle before the sign could be used. Any other digital billboards will have to wait pending a decision on the zoning policies for the area.
A digital billboard is a completely new way of using a tried and true method of advertising. Businesses that use the new screens could see an increase in consumer attention, especially early in the adoption phase. The reality of a digital billboard is new, but for some it is just the next logical step. However, it could be a very important step. Consumers are inundated with ads and promotions, it is essential for a business to stand out in the minds of its customers. A new method of advertising could be just the ticket
Wednesday, September 10, 2008
Ahh Construction!
There are tons of different situations that can occur in the retail world. Choosing the right action and knowing when to act are two of the hardest retail decisions in my opinion. However, I have noticed that there are situations that develop that a retailer may not have direct control over. Reacting to those situations can make or break a business.
For example, all summer long there was construction on 28th street. 28th street has tons of businesses on it and is one of the key connecting roads in the area. One specific section of the road had construction constantly, which added about 10-15 minutes to travel time going through that area. I found myself wondering at one point this summer about how the businesses were surviving when there had to be tons of people avoiding the area like the plague. One specific business in particular: the gas station right near the highway which was basically completely blocked off from the usual last minute customers. I personally used to buy almost all of my gas at that station, since it was very convenient and usually pretty competitive price wise. During the summer, it became such a hassle that all I wanted to do when I reached that area was get out of it. I found an alternate way to work and an alternative gas station. It was not worth the hassles.
To make matters worse for those businesses in the construction zone, when the construction was "done" and the orange cones were removed there was a lull of about four days before the cones were BACK! This prompted me to once again use my alternate route and made me wonder just how many other regular customers to businesses in that area that were doing the same thing.
Another store on 28th street visibly affected by the construction was a store called "Williams Furniture" (no, no relation). They lost their lease fairly early in the construction process and did TONS of advertising to try to sell inventory throughout the summer. At one point, there was even a truck that drove around with a huge sign in the back trying to let people know about the deals they could find in the store. This seemed a little extreme when I saw the truck, but it may have been a very effective way of dealing with the construction problem. The traffic that would usually have driven past the store was using alternate routes to avoid the construction. The store used alternative advertising techniques in order to basically claim, "We are still here! Don't forget about us!"
Basically, I feel it is important for future business owners, (and current ones) to realize that outside forces have an effect on customers. Especially in Michigan, construction is going to be an issue, retailers should realize this and be prepared to make it worthwhile for consumers to navigate through the orange barrels to shop at their stores. I'm sure the retailers along 28th street were not exactly thrilled with construction occurring all summer. The end result may help traffic patterns and look pretty at the same time, but I still wonder if there are still people avoiding the street due to habit. Savvy business decisions matter for retailers, but its important to remember that if your customers can't reach you, (or avoid your area) then pretty soon you might have to put a sign out front that reads, "Out of Business."
For example, all summer long there was construction on 28th street. 28th street has tons of businesses on it and is one of the key connecting roads in the area. One specific section of the road had construction constantly, which added about 10-15 minutes to travel time going through that area. I found myself wondering at one point this summer about how the businesses were surviving when there had to be tons of people avoiding the area like the plague. One specific business in particular: the gas station right near the highway which was basically completely blocked off from the usual last minute customers. I personally used to buy almost all of my gas at that station, since it was very convenient and usually pretty competitive price wise. During the summer, it became such a hassle that all I wanted to do when I reached that area was get out of it. I found an alternate way to work and an alternative gas station. It was not worth the hassles.
To make matters worse for those businesses in the construction zone, when the construction was "done" and the orange cones were removed there was a lull of about four days before the cones were BACK! This prompted me to once again use my alternate route and made me wonder just how many other regular customers to businesses in that area that were doing the same thing.
Another store on 28th street visibly affected by the construction was a store called "Williams Furniture" (no, no relation). They lost their lease fairly early in the construction process and did TONS of advertising to try to sell inventory throughout the summer. At one point, there was even a truck that drove around with a huge sign in the back trying to let people know about the deals they could find in the store. This seemed a little extreme when I saw the truck, but it may have been a very effective way of dealing with the construction problem. The traffic that would usually have driven past the store was using alternate routes to avoid the construction. The store used alternative advertising techniques in order to basically claim, "We are still here! Don't forget about us!"
Basically, I feel it is important for future business owners, (and current ones) to realize that outside forces have an effect on customers. Especially in Michigan, construction is going to be an issue, retailers should realize this and be prepared to make it worthwhile for consumers to navigate through the orange barrels to shop at their stores. I'm sure the retailers along 28th street were not exactly thrilled with construction occurring all summer. The end result may help traffic patterns and look pretty at the same time, but I still wonder if there are still people avoiding the street due to habit. Savvy business decisions matter for retailers, but its important to remember that if your customers can't reach you, (or avoid your area) then pretty soon you might have to put a sign out front that reads, "Out of Business."
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