The Retail Shift

Akbar Mohamed, President of Prime Communications, talks about the only asset Prime manages in today's episode. *Hint... it's their people. 

He shares how investing in people with quality training, removing barriers and aligning those things with customer needs provides an exceptional experience every time. 

Brad MacArthur, President of TracPoint, shares how retailers can use digital tools such as PWAs (progressive web apps), social media and coupons to engage customers and keep them coming back. 

It's important, in an evolving retail world, to provide your customers the positive experiences they crave and reduce barriers around education and product information.

Sterling Raehtz, ShopperTrak, joins us to share how sensory and traffic analytics can be used to better understand shopper habits and give retailers an advantage. 

Key Learnings

1) How using RFID technology to better track product can enhance the omni-channel experience

2) Sensory technology can better equip stores to understand their traffic patterns so they can staff to meet customer needs

3) Know what how your sales team sells. Are they marathoners or sprinters? Make sure you staff appropriately to take advantage of each skill set.

David Ritter, Managing Director at Alvarez & Marsal, shares his take on the current state of retail and the importance of transforming to stay relevant. 

Key Takeaways: 

1. Cash is king - retailers are taking great strides to get expenses in order. What are you doing to reduce costs and where are you doubling down?

2. Scheduling will play a larger part in retail strategy as companies align needs in store with the appropriate labor. 

3. Agile methods are more prominent since stores can't wait 6-12 months to drop new products or services. 

4. Using data for greater personalization is paramount to standard segmentation. 

5. Capitalizing on the talent pool that is currently available will pay dividends as stores evolve and emerge with a digital focus. 

Adapt to change or you'll be left behind. Troy Fargey, President of Hitfar, shares how Hitfar adapted their business for continued growth with drop shipping and gives us a little view into Hitfar's impact on the circular economy. 

In today's episode, Alex Yeater, President of Conway Communications, shares his thoughts on the sales process and how understanding who your successful reps are is key in replicating positive experiences for the customer... resulting in greater sales. 

Key Takeaways:

1. Using conversion data to understand who your best reps are is necessary to grow and replicate success.

2. Focusing on the small details in a sales (i.e. pulling up an account) can make all the difference in the experience a customer has. Make them feel like royalty. 

3. If you aren't actively using analytics and adjusting your processes based on those analytics, you are behind. 

Michael Osborne, CEO and President of SmarterHQ, shares how retailers can benefit by defining a sound strategy and personalizing the buying experience for their customers.

Key Takeaways:

1. Learn about your buyers and how they want to interact with your brand. When do they want to buy? What do they want to buy? How do they want to buy?  

2. Define your strategy before your begin execution. Understanding what you are trying to accomplish allows you to focus on the data to support that strategy.  

3. Simple execution is key. Don't take on a lot of flashy tools when they can't be used to their full potential. As you see success and have the talent to support more tools then expand. 

Biju Nair, President and CEO of HYLA Mobile, joins us in this episode of The Retail Shift. 

Key Learnings: 

- What is the circular economy in wireless retail and how can organizations benefit from it. 

- How data plays into trade-in and buy back programs

- How companies can track and manage upgrade cycles to positively impact their business with more foot traffic

Performance-based scheduling is a big advantage for companies who choose to adopt a strategic approach to scheduling. Companies who have adopted it have been extremely underserved with technology to support the process. In this episode of The Retail Shift, we talk to the President and COO of Shiftlab, Devin Shrake, about why he started Shiftlab, what predictions and shifts he is seeing in the wireless retail space, what he's learned from starting a company, and so much more.

How do you effectively deliver the best possible customer and brand experience? Join us as Jason Becker, CEO of RICS Software, shares his insights on how connectivity in the ecosystem will make a difference for companies in the future.