American consumers were not feeling particularly confident in January, as these levels hit their lowest point in more than a year. However, sentiments seems to be picking back up, as February's consumer confidence improved drastically from the previous month. The retail industry could see positive impacts through these findings through increased sales.

According to the latest Consumers Confidence Index from The Conference Board, February's figure jumped to 69.9 from January's index of 58.4. This was better than expected, as analysts believed impacts from the fiscal cliff deal that were felt last month would carry over into this month.

"Consumer confidence rebounded in February as the shock effect caused by the fiscal cliff uncertainty and payroll tax cuts appears to have abated," said Lynn Franco, The Conference Board's director of economic indicators. "Consumers' assessment of current business and labor market conditions is more positive than last month."

January's low confidence levels were largely due to the effect of the fiscal cliff legislation, which resulted in less take home pay for American workers through increased payroll taxes. However, with February's results, individuals seem to be coping with the changes and could even boost their spending with retailers in the coming months.

This entry was posted by Retail Pro on Sunday, March 3rd, 2013 at 9:06 am .

After a strong, but not exceptional, holiday season, American retailers are hoping that 2013 will bring better luck in terms of sales and customer retention. Fortunately, the latest figures for consumer spending show that further improvement could well be on the way.

Bloomberg reports that the most recent statistics from the Commerce Department revealed that consumer spending rose by 0.2 percent in January from the previous month. This figure increased by 0.1 percent in December from November's spending levels. Last month's growth met analysts' expectations, the news source states. The boost in spending is another piece of good news for the economy, as steady employment gains and more business confidence are pointing to a strong 2013.

Retailers are sure to see effects from all of these factors in the form of increased sales, as people become more optimistic about their financial conditions. The first three weeks of February were positive for companies, according to Redbook Research. The Johnson Redbook Index found that retail sales jumped 1.4 percent from the previous month. This figure is a 2.7 percent year-over-year growth.

This entry was posted by Retail Pro on Friday, March 1st, 2013 at 10:39 am .

Things have certainly changed for the retail industry since the rise of technologies that have given consumers the power to shop from anywhere and at anytime. Devices such as smartphones and tablets are reshaping how merchants operate. So how can businesses ensure success in the altering environment?

CMS Wire writes that in order to capitalize on the mobile shopping trend, companies need to look into adopting solutions for both their stores and their websites. In-store components can include free Wi-Fi, location-based mobile marketing offers and providing retail POS solutions that process payments from consumers' smartphones. When it comes to online storefronts, the source notes that having affordable prices and even developing applications that can be used to browse for and purchase items are elements that help retailers adapt to the mobile world.

Merchants are putting increasing focus in mobile systems this year, as Drug Store News cites research from BDO USA which found that 39 percent of retail executives plan to invest more money into these solutions. Sixty percent stated they will maintain the same investment levels as last year.

This entry was posted by admin on Friday, March 1st, 2013 at 8:36 am .

During the economic recession, many retailers throughout the United States took a big hit in terms of customer retention and sales. Now, conditions are picking back up, and so too are the positive outlooks of businesses for the coming year.

DC Velocity reports that at the recent Retail Chain Supply Conference hosted by the Retail Industry Leaders Association, many industry professionals said they are optimistic about 2013 and they believe the steady economic recovery will result in more growth for their companies. A survey was conducted at the event, and 52 percent of attendees said they have a positive outlook for 2013, while 28 percent stated they are still uncertain about the nation's economy and their own operations. The remaining 20 percent are slightly pessimistic, the poll found.

This boost in optimism among retailers matches the growing confidence of American consumers. The latest Consumer Confidence Index from The Conference Board rose to 69.6 for the month of February, a sharp jump from January's figure of 58.4. While impacts from the fiscal cliff deal seem to have affected last month's index, individuals are learning to cope with the change and are becoming increasingly confident in their financial conditions.

This entry was posted by Retail Pro on Friday, March 1st, 2013 at 7:22 am .

It could be the snow, cold temperatures and early sunsets, but something is having an effect on retail sales throughout the United Kingdom. The latest statistics show that for the past two months, businesses saw unexpected declines in their sales amounts, which is a trend both economists and companies are hoping will not continue throughout the year.

Bloomberg reports that according to the Confederation of British Industry, sales growth among U.K. retailers fell in February, from 17 in January to a five-month low of 8 for this month. This figure was forecasted to drop to 16, however, the more-than-expected decrease was shocking for the nation. On the other hand, analysts are hoping that things will begin picking back up in March, the news source reports.

The Guardian cites statistics from the British Retail Consortium which found that retail sales volumes dropped 0.6 percent in January from the previous month. In addition, foot traffic in stores fell 3.3 percent, which analysts attribute to poor weather conditions such as snow and cold temperatures.

This entry was posted by Retail Pro on Friday, March 1st, 2013 at 7:09 am .

When operating brick-and-mortar locations, retailers know that providing effective customer service is vital to boosting retention and loyalty. That also applies to merchants that run ecommerce sites, as online shoppers expect the same service aspects while browsing for and purchasing products through the internet.

According to the American Customer Satisfaction Index (ACSI), consumers are becoming happier with online shopping. On a 100-point scale, the current index for February stands at 81.1, which is a 1.2 percent jump from last month. This points to improvements in ecommerce customer service, as more companies are focusing on these elements to create loyal patrons.

"Just as we have seen in the public sector, consumers enjoy the convenience and power of ecommerce and online transactions," said ACSI founder Claes Fornell. "Ecommerce is maturing, and even the smaller companies are improving, keeping up with or sometimes surpassing larger, more established companies."

To further improve online customer service, Business 2 Community suggests that retailers give shoppers options for reaching out to companies through their preferred channels. In addition, asking for feedback on where enhancements can be made is an effective strategy.

This entry was posted by Retail Pro on Friday, March 1st, 2013 at 5:37 am .

When smartphones and tablets first hit the market, they were used by individuals for a variety of personal purposes. However, a new trend is fast emerging in which consumers utilize these mobile devices to browse for, compare and purchase products from retailers. And merchants are moving quickly to capitalize on this shopping practice, as customers are beginning to prefer buying the merchandise they want through their mobile gadgets. Many businesses are developing mobile marketing strategies to entice consumers through smartphones and tablets, and these efforts are translating into increased mobile commerce sales. The technology is set to become one of the biggest trends that has hit the retail industry recently, so merchants need to create approaches that focus on accommodating mobile-carrying customers or risk losing out to competition.

Mobile being used for marketing campaigns
To attract individuals who like to shop via their smartphones and tablets, retailers are sending out marketing emails filled with promotions and discounts. And it seems as though their efforts are paying off, as a recent study by marketing firm Knotice revealed that approximately 38 percent of these emails were opened on consumers' mobile devices during the last six months of 2012.

When it comes to deals and other marketing content being clicked on after these messages were opened – which is known as the click-to-open rate – Knotice discovered that the figure for this on smartphones was 6.92 percent and tablets came in at 7.72 percent. While these mobile devices have not yet brought retailers as much success for their efforts as laptops and desktops computers have, experts state that the prevalence of smartphones and tablets will continue to grow in the coming years.

"If retailers are using email to engage customers, each campaign needs to be great on mobile devices," said Patti Renner, director of marketing at Knotice. "That includes the links throughout as well – each destination needs to both work well and look great on phones, tablets and desktops to make sure the best brand experience is maintained."

Mobile becoming more of a retail focus
The growth of mobile devices has certainly not been lost on retail professionals. Drug Store News reports that research from BDO USA found that merchants are putting more effort into developing effective strategies for boosting online shopping, including through smartphones and tablets. Sixty percent of the retailers surveyed stated they will continue investing in mobile this year, while 38 percent will start implementing the technology into their operations.

This entry was posted by Retail Pro on Thursday, February 28th, 2013 at 9:09 am .

It's one aspect of mobile commerce that is helping to draw in consumers, but location-based marketing strategies are still not widespread within the retail industry. For merchants looking to attract nearby individuals, sending out messages containing discounts and deals may just be what is needed.

Business News daily writes that research from eMarketer revealed that businesses are increasing their use of location-based services for marketing, as 36 percent of mobile campaigns in 2012 included this element. Another study from Econsultancy found that for companies not using this method, 27 percent said they will be using this approach over the coming months. This means that now is the time to implement the necessary technology for location-based marketing.

The rise in use of smartphones and tablets should be enough to encourage businesses to develop location-based techniques, but if is isn't, research from Milo might provide the incentives for retailers. Consumers are using their devices when they are out and about to look up information about merchants, including hours of operation, addresses and promotions. Providing potential shoppers with this content increase the chances of in-store visits. 

This entry was posted by Retail Pro on Wednesday, February 27th, 2013 at 11:31 am .

The beginning of the year brought changes for both American consumers and retailers, as payroll tax increases resulted in less spending among shoppers and different pricing strategies among merchants. However, recent research has revealed that some shoppers are still splurging on "little luxuries" despite the decrease in take-home pay.

A study by the National Retail Federation (NRF) and BIGinsight.com revealed there are several products that consumers consider "expendable," but are still being bought even though spending levels are changing. These items include high-end jewelry, memberships for social clubs, designer handbags and cleaning services.

"Traditional discretionary expenditures in recent years have fallen victim to tighter family budgets," said BIGinsight consumer insights director Pam Goodfellow. "While we expect consumers to remain cautious with their spending, it appears that shoppers are also allowing some of those 'little luxuries' to creep back into their budgets."

On the other hand, separate NRF research found that 24.5 percent of shoppers surveyed stated they would be cutting back on luxuries in response to the payroll tax hikes. Other areas seeing less spending include clothing, entertainment and travel.

This entry was posted by Retail Pro on Wednesday, February 27th, 2013 at 3:58 am .

European consumers are boosting their use of mobile devices for shopping purposes, as smartphones and tablets are providing shoppers with increased convenience and easier processes. Retailers may want to capitalize on this behavior by implementing solutions now that accommodate device-carrying customers, such as mobile POS systems.

A recent study by Frost & Sullivan revealed that micropayments are fast on the rise throughout the continent, as many European consumers are starting to prefer purchasing products with prepaid cards, mobile payments and contactless transactions. Leading the way for this trend is mobile commerce, which the report believes will drastically drive revenues for Europe's retailers in the coming years, especially those in the cloud.

"Cloud-based mpayments [mobile payments], in principle, are an extension of the traditional online commerce market. However, we believe that as cloud-based mpayment matures, and its awareness among consumers and merchants increases, the solution will play an important role for the in-store payments and micropayments markets," said Frost & Sullivan ICT global program director Jean-Noel Georges.

Merchants can move now to adopt retail POS solutions that process mobile transactions in their stores. This will help to draw in consumers who prefer to complete purchases with their devices.

This entry was posted by Retail Pro on Tuesday, February 26th, 2013 at 11:38 am .