The American CPG market is currently valued at $813B. Consumers face more options than ever, even with small scale, daily purchases; the overwhelming variety has contributed to a massive decrease in brand loyalty. Only 8% of global consumers self-identify as brand or product loyalists making “brand switching” an increasingly concerning consumer behavior. This behavior has
Read More...Having many different aspects behind visual marketing can seem daunting. But when properly utilized, there are ways in which a business owner can ramp up the visual aspect to create more buyers. One of the commonly used ways in which sellers will do this is with end caps. But what exactly are end caps? Next
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What is a Quick Service Restaurant? Just as the name implies, a quick service restaurant (also known as a QSR) is a restaurant characterized by its fast amenities and minimal table service. To the majority, a QSR is called a fast food restaurant. As the industry evolved, the potential for more options arose. Many restaurants
Read More...Defining the Customer Experience (CX) Experts at Convince and Convert define customer experience as the “combined interactions a customer has with your brand.” These interactions span the entire customer journey from individual consumer touchpoints to customer engagement channels (i.e. chatbots, social media, email, etc.). Customer experience is subjective, which makes achieving a unanimously positive customer
Read More...What exactly is visual merchandising? Eye-catching doesn’t even begin to describe the ability behind visual merchandising to adequately promote and market products that are all around us in the public realm. Colorful displays, clever verbiage and noticeable product placement are only a few of the ways visual merchandising can be utilized to sell a company’s
Read More...The Age of the Customer Years before it was widely accepted, Forrester Research, Inc., the notoriously famous market research firm, spotted the economic shift in power from a “business-centric model” to a “people-centric model” where consumers demand the innovation of goods and services. The team at Forrester called this era the “Age of the Customer;”
Read More...What is Mystery Shopping? A mystery shopper is an anonymous consumer hired to provide an unbiased evaluation of your company’s operations through guided observation. The Types of Mystery Shopping There are four types of mystery shopping that allow businesses to analyze their customer journey for actionable insights: 1. In-Person Mystery Shopping. In-person mystery shopping requests
Read More...Digital transformation is unstoppable and inevitable. New technological trends are hitting every industry, and the retail market is no exception. Let’s explore some of the most expected trends that are going to have a prominent impact on the retail market in 2020. Five Tech Trends of 2020 Augmented Reality There is no doubt that 2020
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This is the final post in our four-part series covering tips and tricks for conducting a retail audit for your business. Global shifts are forcing retailers to be more data-centric, but collecting the right data can difficult, especially in-stores. For brands, collecting information about their products in retailers can provide critical insight, but often times
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This is part three of a four-part series covering tips and tricks for conducting a retail audit for your business. Optimally we would have a statistic to show you how often new retail outlets open and how often they go out of business, but there isn’t a place that keeps a comprehensive list of that
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