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Scoop.it!
Pre-Internet, the motto for shopping could’ve been “try and buy.” Nowadays, social media and mobile devices add a new dimension to the retail experience. Online tools such as review sites, social networks and smartphones produce data for merchants that, if analyzed properly “in real time,” can transform the way consumers shop.... 
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Scoop.it!
The Pew Internet and American Life Project shed light on one of the biggest challenges for retailers: more than half of U.S. adult cell phone owners used their mobile phone during the recent holiday season to access product reviews, compare prices and calla friend or family member for purchasing advice.
German Grebenyuk's comment,
September 25, 2013 10:03 PM
Definitely an interesting article. Social media is not only useful for marketers, but also for consumers. Knowledgeable buyers have more power and leverage, which creates a number of problems. Firstly, consumers now can easily check prices in other shops or find a review online. Both of these things can make a consumer change their mind quickly. All retailers and producers can do in this situation is to try and manage these issues (for example by making sure that prices are matched with competitors' or facilitating creation and spread of positive feedback from consumers). This problem is especially relevant for medium priced goods. The other issue, substitute of online shopping is a threat to mainly retailers. I agree with Leish when she says that retailer have certain advantages over online shopping and they need utilize them well to stay relevant.
Melika Trott's comment,
September 26, 2013 1:26 AM
This is a new technology age that is growing fast and has real aspects and devices now, that aren't unlike the things we have seen in science fiction movies made not so long ago. Now buyers can get unbiased information about products in a store while they are right there in the store. This is truly the age of the smart buyer and consumers no longer have to feel powerless in a buying situation. We no longer have to accept everything the store people tell us and no longer need to accept the prices either. A buyer can easily check with a few clicks if they can buy the same product somewhere else for a cheaper price. I for one think this is brilliant and is keeping sellers on right on their toes.
Selina EverHungry Nihalani's curator insight,
October 6, 2013 6:40 PM
The main focus of this article is the positive use of the IMC concept pertaining to the increase in Retail Sales. As the usage of mobile technology increases so do retail sales as consumers now indulge in online sales. It is, obviously, easier for consumers to go onto a website or an app as opposed to walking into one store after another. Since it has become a common trend, it has been adapted into marketing techniques. Statistics show an increase in the users of mobile phones. This could have a negative impact on businesses if they do not tread carefully. It could cause them to shut down their physical retail stores as they are not attracting the same number of walk-in customers. On the contrary, this could also be beneficial taking into consideration the rental costs, staff salaries and other overheads. |
