As retailers forge ahead with their holiday marketing and sales strategies, it’s critical to remember the importance of customer loyalty and its impact on business performance. Research has repeatedly found that customer experience has a significant impact on customer loyalty. In fact, it takes five customers recommending a business to others… Read More →
Retailers could have perhaps the most to gain from successfully corralling the massive amounts of data customers are sharing about themselves via transactions as well as by sharing their opinions about products via social media and other online forums. But ironically – though the retail industry is under tremendous pressure… Read More →
Up to half of a retailer’s annual profits and 20%-to-40% of a retailer’s annual revenues can be generated between the months of November and December, according to the National Retail Federation. Meanwhile, other service-related businesses such as restaurants, travel agencies, and caterers are also highly dependent upon sales that are generated during… Read More →
It’s difficult to predict with any degree of certainty how consumers will behave over the holiday shopping period or at any time, for that matter. Consumers have different needs and preferences – needs and preferences that constantly change over time or as a result of shifting circumstances (employment status, recent out-of-pocket medical… Read More →
By most measures, 2011 holiday sales saw solid gains. Overall retail sales rose 4.1%, according to the National Retail Federation. And while 2011 holiday sales didn’t achieve the 5.2% gains made during the 2010 holiday season, they still outpaced the 2.6% growth over the past decade. But a closer examination… Read More →
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IDC is a global provider of market intelligence to IT professionals and business executives. We recently had a conversation with IDC’s Brian McDonough, a Research Manager in IDC’s Analytics and Data Warehousing Software research service. In this role, Brian is responsible for providing coverage of supply-side trends within the business… Read More →