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The Crushing of Retail Sales and The Box

Online retail sales are crushing brick and mortar sales in many areas and it will only continue. I'll get to the facts on that in just a moment Amazon Box but first a story:

Several weeks ago my wife purchased a new cup for our three year-old grandson. He likes the Hawkeyes. When she presented it to him he looked her and said, "Thanks! Where's the box?" The box? She went on to explain that she purchased the cup from a store and that it didn't come with a "box". He looked at her with a serious questioning face and said, "No box?" He is three and he could not imagine that something new was brought into his house and it didn't come in a box.

Thank you Amazon and now for the facts:

Retail giant Wal-Mart reported solid fourth-quarter results last week with the U.S. business producing another quarter of comparable-sales growth. But the star of the show was e-commerce. Online U.S. sales for Wal-Mart soared 29% year-over-year, an acceleration driven by the company's investments in the acquisition of Jet.com. E-commerce is still small, relative to the brick-and-mortar operations, but that won't remain true for long.

According to the Department of Commerce, total e-commerce sales in the United States rose by 15.1% in 2016, far faster than the 2.9% Online Add to Cartgrowth in total retail sales.

The times they are a changin'.

The reality is that consumers are quickly leaving brick and mortar stores for online deals. They are shopping price as well as convenience as they have seen their wages stagnate and are left with less time to "go shopping". However, the trend isn't always the same for small business retail stores. Especially if they offer a unique shopping experience. So, what can retail, maybe your retail, do to drive traffic to your store? Here are some thoughts:

  • It Ain't About the Product - I can go to big box or online and buy a set of kitchen knives but I can not get the experience that comes with visiting, say, The Kitchen Collage in the East Village of Des Moines or La Gourmet in Valley Junction of West Des Moines. No big box or online retail center can match that experience;
  • Personalized E-Mail Offers - Because your small business is gathering emails (you are right) you can build a very active email campaign to keep your loyal shoppers in the conversation;
  • Retail Celebrations - Places like the East Village and Valley Junction hold special events all of the time...that's not done for big box stores. Getting involved with your neighborhood organization or Chamber can make a difference;
  • Be Exclusive - When going to market find stuff that can't easily be found online and then market that through social media and your email campaign.

All of this takes work...go get 'em!

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Is It The Content or Something Else?

We're now in our fourth year of reporting the business news of the nation, region and the IOB_podcastv2 Greater Des Moines Metro during Insight on Business the News Hour. Each weekday starting at 5:05pm we take to the air on AM-940, FM-104.5 and in HD at 103.3 HD2 and report the business news of the day, what the market did and why and then conduct two long-form business interviews with startups to established corporations. To date we've conducted over 1,500 of those interviews with nearly 147,000 downloads on just one of our podcast pages, Podbean. You can see that here.

That's the history.

And we've noticed something that should be of interest to those of you attempting to extend your voice with social media.  

Social media experts tell us that "content is king". If you produce good and valuable content people will notice and engage. We think that's true as long as the content is about cats or food. Business? Not so much. The vast consumer population could care less about how to grow, maintain, start and stay in business.

Or wait...might it be something else?

We watch, very carefully, the download and listening numbers as they appear on iTunes and Podbean. We also follow the data on Bitly and we've noticed that those business people and businesses who join us for an interview and then share their story along several social media Man Megaphonechannels gain a big advantage. In other words they are not keeping their story...secret or to themselves they are telling the world and it matters.

And, if those businesses or business people carry their message forward for several days/weeks their download numbers explode. Sure we're there carrying the water as well but when the organic tweets and Facebook posts and LinkedIn posts happen more than once...it extends their voice so much further.

There is a valuable lesson here: Social Media is not a "one-and-done" effort. Think of it this way, if you got a new job or you're about to get married or you've just closed a huge deal... would you tell just one person?  No. You would repeat that story several times over the life of the news.

It's the same thing here. The very same thing. Content does matter but so too does properly sharing that content.

Your turn!

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Valentine's Day Marketing

Tis the Season! Soon, right after the Super Bowl, young (and old) men will be boosting retail sales as they scramble to prove their love Valentines Day gifts for Himand affection to their Valentine. If you are in retail and directing your marketing message to men...you are not alone but you may be missing an opportunity.

Let's face it, the vast majority of Valentine Marketing Messages are directed to men. Print, radio, television, digital tend to target guys who, by the way, spend nearly twice what women spend on Valentine's Day gifts. Last year the National Retail Federation said the "average person" spent about $143 to honor their Valentine. Men, however, spent $191 to the average of $97 spent by women.

So, marketing to men would seem to be paying off.

But, why not start a campaign targeting women as well? It would seem, just by looking at the numbers, there is room to improve on that demographic. After all, women love too. How about some ideas that might boost your retail sales to females this year?  And, while it may be too late for a full blown radio and TV buy...you can focus on digital and point of purchase.

Call Them Out - You might try any number of cute and sexy ways to catch the eye of the ladies. "Ladies, DO IT, with your Valentine!", "Women Love Too", "Remind him how HOT you really are..." Have fun, be creative and use your digital outlets;

Gifts for Him - Try an in-store display with a valentine vibe but with stuff for...him. Sometimes it's difficult to know what to get that male valentine...make it easy;

Video - Get some female friends together and do a sixty-second bit about buying gifts for the guys...and then share, share, share;

Play to the Super Bowl - "Part of my Valentines Day gift was watching the big game with you. That's just the beginning...";

The point is if you call attention to the fact that women too can play the Valentines Day game you may just move the needle and who in retail doesn't want that?

Happy Valentine's Day!

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