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Big-Box Retailers Have Two Options If They Want to Survive

Harvard Business Review

Big box retail stores are losing relevance, while e-commerce and specialty stores grow in appeal. As a result, big box retail must shift its strategy — from competing on access and selection to staging big experiences and providing big discounts. is over-retailed. Several dynamics have produced this trend: The U.S.

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Online Retailers Should Care More About the Post-Purchase Experience

Harvard Business Review

Soon retail brands aligned their strategies around two critical moments: 1) when a customer decides whether to purchase a product, and 2) when a customer uses the product for the first time. Today, retail brands create customer experiences around these four moments and focus on driving shoppers to click the “buy” button.

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Retailers Can’t Rely on Holiday-Season Gimmicks Like They Used To

Harvard Business Review

This holiday shopping season, the keys to winning for retailers will not be having the “toy of the season,” free shipping, or huge Black Friday sales. Retailers have pushed prices as low as they can tolerate, and are now hoping the timing of their price promotions will give them an edge. for the season.

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Using Facebook to Capture Customers

Harvard Business Review

A central tenant of retailing is to put stores near customers. Now that 600 million potential customers are on Facebook, retailers are flocking to the site and aggressively experimenting with new communication strategies. Responding to customers' outcry, the retailer ultimately restored its original logo. Promotions.

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How Customers Come to Think of a Product as an Extension of Themselves

Harvard Business Review

Companies that encourage psychological ownership can entice customers to buy more products, at higher prices, and even to willingly promote those products among their friends. To build psychological ownership, companies must use at least one of three factors: control, investment of self, and intimate knowledge.

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How to Improve the Engagement and Retention of Young Hourly Workers

Harvard Business Review

In industries like retail, customer service, and hospitality, entry-level turnover alone costs billions of dollars each year, based on voluntary turnover rates and annual replacement costs. The young people we surveyed worked in a wide variety of industries, including health care, manufacturing, retail, and hospitality.

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Make Customers Want to Buy Offline

Harvard Business Review

Showrooming , once a worry primarily for consumer electronics retailers, is expanding into markets we might have thought exempt. Chalk this up to the efficiency of digital retailers, who’ve systematically dismantled every obstacle to online shopping. A look at retailers who succeed despite showrooming reveals three design imperatives.

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