"Engage! 2015" Conference: The Law Of Rapidly Improving Retail Business

At the "Engage! 2015" conference, Forrester Sucharita Mulpuru, vice president and chief analyst of research, shared the 7 rules to improve retailer's profit and boost growth, which is worthy of reference from domestic retailers.

For retailers, making money with commodities is only the first link, and it is more important to find additional income sources. Amazon actually did not earn much money from goods, but it made a profit from services, such as Prime, and left a loyal customer.

In this era, the "customer lifetime value" seems to be dying. Consumers are becoming more elusive and less loyal. Moreover, the effect of membership cards has been decreasing. Many customers have registered their membership cards in order to participate in a special sale. Finally, he became a sleeping client.

Therefore, Retailer It is important to redesign membership projects. Integration is very important, but customer experience is more important. Participating in exclusive sale and exclusive service is only one aspect, and cooperation with other formats (such as hotels, airlines, gas stations, hospitals, etc.) is also a train of thought.

The cost of the retail industry is getting higher and higher. Apart from rents, staff salaries are also a big problem, so we must find excellent salesmen and give them rewards. Don't forget, a good salesperson works better than three ordinary salesmen.

From the perspective of age structure, there are more and more customers of older generation, but Consumption Not much, so the vast majority of retailers are looking at 80, 90, or even 00 in the future.

But do the younger generation really appreciate it? How many people come to the store and try it later and buy it online? Old customers are different, they are more targeted shops, and they are more likely to buy directly under the right service.

Pricing strategy has changed, online price changes are dynamic, retailers need to adjust prices for demand. Besides, for long tail goods, retailers need to carry out price elasticity test.

There are more and more kinds of technical means, which makes retailers unable to rush to enter these fields. However, what retailers really want is to understand what kind of pain they want to deal with, rather than using technology to bomb customers. Retailers are not only experts who help customers choose products, but also experts who serve customers with the most appropriate technology.

For retailers, gross margin and same store sales growth are extremely important, but don't look at the problem in isolation: the study found that consumption of $1 per user on the Internet will affect the value of $5 in physical stores. So when you are concerned about the same store sales, you might as well pay close attention to online sales. After all, online sales affect your store sales in ways that you do not understand.