The beauty of focusing on pricing is its immediate effect: Prices can be changed on Sunday evening, and new profits start rolling in on Monday morning.
[L2] has studied the effects of opening a physical store on pure-play retailers, among them Trunk Club, Rent the Runway and Warby Parker, and found that after opening a store, each saw a spike in search activity that was relatively sustained.
[Mabel McLean] said it would be strategically advantageous for Amazon to open fashion-specific, brick-and-mortar locations to publicize its offering.
As of December last year, RetailNext was already tracking over 500 million shoppers per year, collecting data from nearly 100,000 in-store sensors across locations in 33 countries. Companies that use RetailNext include Bloomingdales, American Apparel, Brookstone, Mont Blanc, Ulta and Family Dollar.
“There’s now a trend of how we use technology to enhance the shopping experience rather than use technology to be the only shopping experience…”