Wiser

MARCH 4, 2024

Brands and retailers face unique challenges as they progress from their initial market entry to becoming leaders in innovation and strategy. Understanding the distinct phases of retail maturity—Foundational, Expansion, and Innovation—is crucial in identifying the specific needs and solutions that will propel a brand or retailer forward. Aligning retail strategies with these technological shifts is no longer optional; it’s imperative for those aiming to enhance their market position and ach

Retail 78

Retail Operations Management Technology 78

Wiser

FEBRUARY 26, 2024

A recent study conducted by Wiser Solutions, focusing on the headphones category, unveiled significant discrepancies in pricing strategies across retailers. This underscores the critical need for brands to keep a vigilant eye on how their products are positioned in the market. Insight into these variations not only empowers brands to enforce consistent pricing policies but also assists in strategizing competitive approaches to enhance market share and consumer perception.

Retail 78

Retail Channel Consumer Improvements 78

Wiser

FEBRUARY 23, 2024

In a recent panel discussion hosted by Wiser Solutions, senior leaders at brand manufacturers and retailers shed light on the delicate interplay between direct-to-consumer (D2C) channels and traditional retail partnerships. The dialogue underscored the need for agility in pricing policies and the growing importance of location-based sensitivity when it comes to determining the right price point for different markets.

Marketing 78

Marketing Customer Multi-channel Channel 78

Wiser

JANUARY 17, 2024

Pricing plays a critical role in determining a product’s market position, sales growth, and profitability. A well-thought-out pricing strategy can be the difference between a product that flies off the shelves and one that lags behind. One such strategy that has gained traction for its effectiveness is life cycle pricing. Life cycle pricing is a dynamic approach that considers the various stages a product goes through, from introduction to the decline stage.

Games 140

Games Management Consumer Marketing 140

Wiser

JANUARY 16, 2024

A well-executed retail audit can reveal important data about the shelf, staff performance, and customer experience. This data can be instrumental in making informed decisions to drive your sales and enhance your brand reputation. However, harnessing and interpreting this data can be a challenge without the right tools and expertise. This is where Wiser’s Retail Intelligence can play a pivotal role.

Retail 141

Retail Food and Beverages Customer Experience Recommendation 141

Wiser

DECEMBER 18, 2023

Prioritizing your digital share of shelf is paramount if you want to get ahead in the eCommerce space. This critical metric, reliant on online product visibility and positioning, holds significant sway over brand awareness, customer preference, and ultimately, sales performance. With the surge in eCommerce, understanding and leveraging the concept becomes a requisite for businesses wanting to maintain a competitive edge.

Online Retail 139

Online Retail Information Improvements Management 139

Wiser

DECEMBER 11, 2023

Store audits play a pivotal role in ensuring the retail experience is consistently high quality, and that your brand is represented the way you intend. They aid in the monitoring of product availability, pricing accuracy, promotional execution, and overall store cleanliness. Regular audits can be instrumental in identifying areas for improvement and in implementing necessary changes.

Operations 148

Operations Games Customer Experience Information 148

Wiser

DECEMBER 5, 2023

In the competitive world of retail, shoppers are always on the lookout for that elusive “too good to be true” deal. But what about from the perspective of brand manufacturers and retailers? Should they be equally eager to offer such enticing prices? This is where the concept of loss leader pricing comes into play. By strategically setting prices lower than the cost of production or acquisition, businesses can attract customers and generate foot traffic.

Customer Loyalty 78

Customer Loyalty Customer Retention Consumer Other 78

Wiser

DECEMBER 4, 2023

For brand manufacturers, retail monitoring is a critical aspect of maintaining and enhancing market presence. It offers detailed insights into product performance, customer preferences, and the effectiveness of sales strategies across different platforms. Monitoring these multiple aspects allows manufacturers to modify and optimize their strategies in real-time, improving product visibility and customer relationships.

Retail 146

Retail Presentation Operations Management 146

Wiser

NOVEMBER 13, 2023

Leveraging the potential of store associates to become product advocates opens up a new dimension for retailers to connect with their customers organically. Associates, well-versed with the store’s offerings and ethos, can truly embody the brand and foster a genuine connection with the customers. Training and incentives can encourage associates to adopt this role of brand ambassadors.

Social Media 148

Social Media Retail Events Recommendation 148

Wiser

NOVEMBER 6, 2023

A successful eCommerce business relies heavily on a well-crafted retail product page. It acts as a virtual storefront, enticing visitors to become customers by showcasing your products effectively. Each product page presents a valuable opportunity to portray your merchandise in a compelling manner, emphasizing its features, benefits, and overall value.

Payment Services 78

Payment Services eCommerce Retail Games 78

Wiser

NOVEMBER 1, 2023

Unfortunately, when it comes to eCommerce, it’s not uncommon for potential customers to leave a retailer’s site without actually making a purchase. The product may be in their shopping cart, on their wish list, or viewed multiple times, yet the sale doesn’t reach completion. Though this scenario might seem like a loss on the surface, in reality it opens the door to an effective strategy known as remarketing.

Customer 146

Customer Customer Retention Shopping Carts Conversion Optimization 146

Wiser

OCTOBER 11, 2023

The landscape of online retailing encompasses everything from drop-shipping and wholesaling to subscription and white-labeling, allowing entrepreneurs to choose the optimal business model to align with their brand’s vision and capabilities. Choosing the right eCommerce business model can significantly impact a brand’s success, and it requires a comprehensive understanding of each model’s nuances.

Payment Services 148

Payment Services Shipping Costs eCommerce Drop Ship 148

Wiser

OCTOBER 9, 2023

The empowerment of a field force could be the crucial factor that determines whether a brand edges ahead of the competition or falls behind. The field force is the backbone of a brand; these individuals make direct contact with the market, convey the brand message to the audience, and gather critical feedback from them. Which is why having a well-trained, well-equipped, and highly motivated team is paramount to the success of a brand.

Improvements 147

Improvements Management Operations Information 147

Wiser

SEPTEMBER 27, 2023

Customer satisfaction surveys are an invaluable tool for businesses seeking to improve their performance and stay ahead of the curve in an increasingly competitive market landscape. These surveys provide direct insights from the very people who matter most—customers. By understanding the customers’ perspective, businesses can tailor their services and products to meet the evolving needs and expectations of their target audience.

Customer 146

Customer Retail Customer Retention Improvements 146

Wiser

SEPTEMBER 20, 2023

SWOT analysis, an acronym for Strengths, Weaknesses, Opportunities, and Threats, is a strategic planning technique that can provide valuable insights for your business by analyzing internal and external factors. Its simplicity and effectiveness make it a favorite amongst businesses of all sizes, helping them to understand their internal and external landscape better.

Technology 144

Technology Improvements Marketing Other 144

Wiser

SEPTEMBER 18, 2023

The back-to-school season signals change and growth for students and presents a significant sales opportunity for retailers. It’s not just about selling basic school supplies anymore. The emergence of eCommerce has transformed traditional shopping habits, with a growing number of parents and students turning to online platforms to fulfill their annual back-to-school shopping needs.

Electronics 148

Electronics Retail Shipping Costs Leisure 148

Wiser

SEPTEMBER 6, 2023

Customer satisfaction is not just important—it’s essential. The success of any business largely depends on happy customers. Businesses that prioritize customer satisfaction tend to not only retain their existing customers but also often attract new ones. It is not just about selling a product or service, but about delivering an experience that leaves the customer feeling valued, satisfied, and ready to tell their friends and family about the experience.

Management 147

Management Customer Customer Loyalty Improvements 147

Wiser

SEPTEMBER 5, 2023

When it comes to online retail, pricing strategies can make or break a business’s success. Among these strategies, two stand out as particularly effective tools for driving conversions: discounts and free shipping. Discounts have been a traditional marketing tactic for as long as commerce itself has existed. The psychological allure of getting a product for less than its original price is undeniably effective, enticing customers to purchase more.

Shipping Costs 148

Shipping Costs Shipping Payment Services Online Retail 148

Wiser

AUGUST 30, 2023

Understanding and managing your brand equity is a powerful strategy for businesses in today’s competitive market landscape. Brand equity refers to the value of your brand in the minds of your consumers, and it’s a key asset that can drive your business’s growth and profitability. Building strong brand equity requires thoughtful planning and strategic execution.

Management 147

Management Social Media Customer Loyalty Reference 147

Wiser

AUGUST 21, 2023

No matter how revolutionary your product or service may be, it’s the promotion strategy that can make or break its journey in the market. This is where strategic planning, product positioning, and creative marketing come into play. The product promotion process can seem daunting, of course. But fear not, there are proven strategies that can aid in successfully showcasing your innovation to the world, creating a buzz, and ultimately increasing your revenue.

Social Media 146

Social Media Webinar Demo Consumer 146

Wiser

JULY 31, 2023

In the competitive world of retail, ensuring your products are in the right place at the right time can mean the difference between profit and loss. This is where planogram compliance comes into play. A planogram is a visual diagram that details where every product on a retail store shelf should be placed. Its main aim is to maximize sales and minimize wasted space.

Customer Experience 145

Customer Experience Operations Technology Reference 145

Wiser

JULY 10, 2023

Amazon Prime Day has become one of the biggest shopping days of the year, with discounts on millions of items. It’s no wonder that brands and retailers are competing to get a piece of this lucrative pie. In order to keep up with the Prime Day competition and make sure their products don’t get lost in the shuffle, many companies have come up with creative ways to offer their own deals and promotions during this buying period.

Retail 113

Retail Events Home Furnishings Electronics 113

Wiser

JUNE 20, 2023

Promotions are a key component of any successful business strategy. Whether you’re launching a new product, trying to gain more customers, or simply looking to increase brand recognition and loyalty, effective promotions can help you reach your goals. But crafting an effective promotions strategy requires careful planning and execution. Every brand and retailer is coming out with new promotions all of the time.

Customer Loyalty 148

Customer Loyalty Social Media Information Consumer 148

Wiser

JUNE 5, 2023

As a small business owner, managing supply chain issues is nothing new. Because smaller retailers cannot always order in bulk or far in advance like many larger retailers do, any supply chain disruptions are often felt faster and stronger by small businesses. It’s important to get it right, as any hiccups in the process can have serious consequences for your business.

Small Business Retail 147

Small Business Retail Supplies Shipping Costs Management 147

Wiser

MAY 23, 2023

Editor’s Note: A version of this blog is also published in National Liquor News. When looking at alcoholic beverages, hard seltzer remains one of the essential drinks to watch out for. The Australian hard seltzer market grew 282 percent in 2021 to become a $210 million category, and now accounts for 16 percent of the RTD category. We have been tracking this category for a few years now, as part of our RTD data series tracking, and have sent our network of mystery shoppers in-store numerous times

Consumer 78

Consumer Games Other Article 78

Wiser

MAY 22, 2023

In the last few years, many companies have begun to shift their focus from their products to their customers. And this makes sense when, according to Salesforce , 80 percent of customers now consider the experience a company provides to be as important as its products and services. Positive experiences can leave a lasting impression on shoppers that might make them more likely to share their sentiments online or with friends and family.

Social Media 142

Social Media Reference Improvements Other 142

Wiser

MAY 15, 2023

For some, implementing a new pricing strategy can feel like a real shot in the dark. Set your prices too low and you’ll miss out on profit. Too high, and you’ll lose sales to your competitors. It’s not as simple as copying the competition’s prices, and there is no easy, one-size-fits-all solution. Luckily, you don’t actually have to continue flying blind.

Consumer 146

Consumer Marketing Management Other 146

Wiser

APRIL 10, 2023

Good customer reviews are one of the most valuable assets of any eCommerce business. A positive customer review can help provide potential customers with a better understanding and appreciation of your products, while negative reviews can help identify areas in which to improve. However, taking full advantage of all that customer feedback requires effective analysis and useable insights—that’s where workflow optimization comes in!

eCommerce 78

eCommerce Improvements Fulfillment Customer Experience 78

Wiser

MAY 10, 2023

Do you work at an eCommerce brand and are looking for ways to keep your product page content compliant across all eCommerce sellers? Keeping up with frequent product updates is complex and time-consuming. It requires coordinated efforts between stakeholders and constant tracking of any changes that are made. To help manage content compliance throughout the life cycle of a product page, we’ve outlined some strategies and tips that can make it easier to stay on top of things!

Information 78

Information Consumer Shipping Costs eCommerce 78

Wiser

APRIL 18, 2023

Developing a new product and introducing it to the market is a huge and often daunting task, but it’s necessary for businesses that want to stay competitive in a fast-paced industry. The Harvard Business School says that 30,000 new products are introduced to the market each year, and according to Mckinsey & Company , less than 50 percent of those launches achieve their target business goals.

Demo 158

Demo Information Electronics Marketing 158

Wiser

APRIL 3, 2023

The online shopping experience has grown exponentially in recent years and has changed to encompass much more than just a website with an online storefront. Think about it, when was the last time you were scrolling through your social media and came across an ad for a product? Nearly every time, right? It usually goes something like this: you’re scrolling through your feed looking at normal posts when you come across an advertisement for a product.

Social Media 167

Social Media Payment Services Shipping Costs Information 167

Wiser

MARCH 27, 2023

Picture this: a shopper is doing some browsing online and adds something a little pricey to their cart. It’s an item that they’d really like to have, but it’s not quite a necessity. They get this close to completing their purchase, but there’s something stopping them—it’s just too big of an expense right now. This back and forth continues until maybe eventually they buy it, or maybe it ends with every online retailer’s biggest fear— they abandon their cart.

Payment Services 147

Payment Services Banking Information Reference 147

Wiser

MARCH 13, 2023

Desktop as a Service (DaaS) and Software as a Service (SaaS) have had a revolutionary effect on the way businesses are able to run. These are both cloud services that have significantly improved the functionality and capabilities of the modern workspace. Thanks to these services, the playing field between businesses has levelled off just a little further.

Subscription 166

Subscription Games Other Improvements 166

Wiser

MARCH 6, 2023

It’s no secret that there is an abundance of different pricing strategies to choose from. It’s a big decision, and the health and success of your business rely on you making the right choice. One popular pricing strategy that you can choose is velocity pricing. What Is Velocity Pricing? Velocity pricing uses a product’s “sales velocity,” or the speed at which a product sells, when determining prices.

Fashion 158

Fashion Clothing Other Improvements 158

Wiser

FEBRUARY 21, 2023

The prices you set can affect the number of sales you get, your profits, and even your brand perception. That’s why it’s so important to make the right pricing decisions for your business. Two popular choices when forming your pricing strategies are rebates and discounts. Both are incentives for shoppers to make purchases. But they aren’t the same thing.

Payment Services 158

Payment Services Electronics Retail Customer 158

Wiser

FEBRUARY 6, 2023

For most retailers, the ultimate goal is creating a seamless shopping experience for consumers. What does this mean today? A shopping experience that spans channels, allowing customers to engage with a brand online, in-store, and in between. According to Commbox , 90 percent of consumers use multiple channels when making purchases. Furthermore, 75 percent of consumers say that they now expect to be interacted with across multiple channels, be it by phone, email, social media, or in person.

Omnichannel 145

Omnichannel Channel Social Media Consumer 145