Today, select retailers are accompanying NRF advocates to the hill to discuss key legislation with congress. The Washington Leadership Conference is an opportunity for congress to hear directly from retailers and to better understand the issues they face. The key issues being discussed are:
Consumers now have the power to determine how and when they interact with a business, blurring the boundaries of web site, mobile site, service center, or physical stores as separate entities. Consumers want to interact with the business and the brand and have a consistent experience regardless of how and when they choose to interact with it. With a continued focus on enabling a Commerce Anywhere strategy, Oracle's latest release of the commerce suite provides key capabilities to support cross-channel commerce, search, and personalization.
Those that run know it takes a lot of training to qualify to run in the Boston Marathon. My friend and fellow Oracle Retail employee Amy Gearing worked hard to get there, so it was disappointing to hear the race was stopped when she hit the 26 mile point. That's 0.2 miles away from the finish. Looking at the bigger picture, I'm just glad she wasn't injured. Had the timing been different, things could have been much worse. I feel awful for those that weren't so lucky.
The traditional Marketing Mix covers product, price, place, and promotion and often people and process are thrown in for good measure. Retailers spend their time adjusting these "P levers" to satisfy customers and drive sales. But the P that interests me most is personalization. For years the online experience has been personalized to varying extents. Cookies track the sites I visit, and advertising is changed in real-time to reinforce promotions in an effort to retarge
You may have noticed Oracle has acquired several social media software companies. The video below demonstrates the integration of those assets into a complete Social Relationship Management suite. This 7 minute video shows how a grocer uses social media to support the opening of a new store in the UK.
I previously discussed the importance of establishing an innovation lab so that companies can keep up with emerging technology trends. But innovation doesn't just happen in the lab -- it works best when its part of the culture. Companies need to foster the free flow of information and ideas across the entire organization. There are many tools that help in this regard, including online forums, instant messaging, social networks, etc.
Often consumers want instant gratification, which is why my previous post discussed the importance of fast shipping for online retailers. Getting to affordable same-day or next-day delivery will be an important milestone for the retail industry, and we're already making progress in that direction with "shipping clubs" and local delivery services. But what if there was a way to skip the delivery process altogether, much like what we've done with digital content. I don't order music CDs or DVDs from websites anymore; I simpl
Amazon has been at the forefront of innovation in e-commerce, and that's because they are constantly looking for new ways, not to sell, but to satisfy customers. That's a key point. Instead of advertising products, they provide information and advice to customers either directly or via other customers. This helps people make better decisions about their purchases. Looking back, we can see Amazon has been a leader in many areas:
I messed up. My son wanted Borderlands 2 for his XBox so I ordered it from Amazon, but its taking 8 days to arrive. That's a long time for a kid. I'm saving him $15 by using the Free Super Saving Shipping, but he really wants it now. (I've since discovered that Amazon Prime can be shared with family members, so my brother added me to his account and now I get free 2-day shipping!) I think he's typical of many shoppers, which is why there's renewed focus on next day shipping.