The GeoMarketing Top 5 Countdown
The Gap's store closings, and what lies ahead for the future of physical retail. Plus, our top stories this week!
But with over 90 percent of purchases still taking place in-store, there remains a clear need for physical retailers — provided that they can create valuable experiences that consumers “can’t get on Amazon.” There have been major changes in how people shop, and retailers need to adapt.
Stores are now places where people share photos of merchandise, check-in, and ultimately do shop. But digital is where they often consider their purchases before walking in, meaning that stores without an effective digital presence will miss out. More than ever, there is a definite need for the store to serve as a physical catalog where the notion of digital — through the website, email, apps, search, maps, social media — converges to help enhance the in-store experience.
So what happened to the Gap? It seems likely that the chain opened too many stores, thus diluting the value of single stores in the process. Moving forward, perhaps even major chains will spend more money on in-store experiences — personal shoppers, digital integrations, etc — and less on merely expanding their volume of stores.
And now, our favorite links from around the web:
- When Will Mobile Payments Reach Tipping Point? — Jim Marous, The Financial Brand
- 5 Ad Tools for Targeting Consumers Based on Offline Behavior — Stephanie Miles, StreetFight
- Project Lightning: Twitter’s secret plan to bring live events to its platform — Karissa Bell, Mashable
- The Internet of Things Is Changing How We Manage Customer Relationships — Ric Merrifield, Harvard Business Review
- Attention Shoppers: Brace Yourselves For Beacons — Giovanni Calabro, Fast Company
Finally, onto our top stories from this week!
The Influencer-focused startup aims to find ‘undiscoverable’ Tweets and Instagrams — and ground them in specific locations for contextual geo-targeting.
The traditional tools of small biz services no longer apply in the local space, Williams says.
The Norwegians behind Jay Z’s Tidal have shifted from ‘Tidal’ waves to beacon waves with plans to ‘harmonize’ place-based marketing channels in the US, David Kaplan writes.
The new analytics tools will have advertisers “riding shotgun,” says US sales head Jordan Grossman.