The best retail stores have a recipe for success that combines unmatched customer service with a product mix built to meet consumer needs. But why limit the customer experience to in-store visitors? A 2013 study by eMarketer estimates U.S. consumers spent $37.44 billion on retail purchases made via smartphones and tablets. More than sales, your Web prospects offer valuable insight into future marketing strategies. Taking an offline and online approach to leverage the customer experience can catapult your retail business to greater success.
Customers seek instant access to wants and needs, be it a drive or click away. A study by Accenture confirms that 88 percent of shoppers look online for products before deciding to go into a physical store to make a purchase. Not providing consumers with multiple purchasing platforms narrows the window of prospective buyers. Expand your reach without destroying your budget by adding an online shopping experience. In an instant gratification-driven market, transaction ease is key to profitability, regardless of the product. For example, mattress manufacturer Casper takes a digital approach to a once retail-only shopping experience. Rather than limiting mattress sales to in-store-only purchases, Casper expands its reach nationally with a hassle-free solution to bed buying. The appeal of online ordering and fast shipping is enhanced with cost-reduced options made possible, in part, by overhead cost savings.
Build your Brand
Becoming a household name, or even a neighborhood favorite, takes knowing your customer. An e-commerce platform acts as a testing ground for new products and marketing strategies to help you gather valuable insight into consumer needs. More than demographics, it’s imperative to mine personal data including customer likes, dislikes, life stage, and social interests. Take e-commerce giant Wayfair for example. According to Forbes, the company constantly probes and processes information about its customers to interact with them, anticipate their wishful thinking, personalize their home pages and turn search into a form of entertainment. The Web-only furniture and home decor retailer hit record numbers with a reported $1 billion in web sales in 2013. Powered by educated consumer observations, the company has expanded their brand portfolio to include Joss & Main, a flash sales site for upscale home goods.
The Customer Experience
Adding an e-commerce platform doesn’t mean abandoning the brick-and-mortar strategy. Omni-channel retailing isn’t about creating one-way streets. It’s about connecting the cloud with physical space and streamlining the customer experience. Consider the strategy behind Warby Parker. An online retailer that offers $95 single-vision frames in 27 proprietary styles. A simple concept that has grown into a growing number of online sales. To enhance the customer experience, full service retail stores have opened New York City, Boston and Los Angeles. Complete with a photo booth that emails visitors their images and a tablet-based checkout, consumers can expect the same modern and engaged feel within Warby Parker’s physical store locations.
Web Project Manager
LEXINGTON, Ky., (May 3, 2016) - Kentucky’s finest small businesses and the small-business community were celebrated in the Capitol Rotunda in Frankfort during Kentucky Celebrates Small Business, an awards ceremony presented by the Kentucky Small Business Development Center and the Kentucky District Office of the U.S. Small Business Administration May 3.
Gov. Matt Bevin opened the awards ceremony by signing a proclamation recognizing National Small Business Week in the state.
"The vibrant entrepreneurial spirit in the commonwealth is a fundamental force driving Kentucky's economy and creating valuable jobs for our communities," Bevin said. "I understand, from personal experience, the sacrifice it takes for small business owners to survive. Every day they strive anew to secure a better life for their customers, their employees, their families and themselves. I am grateful to these men and women across Kentucky for taking the risk necessary to succeed."
WLEX-18 chief meteorologist Bill Meck served as emcee, along with his wife, Connie, whose small business, Sign Language Network of Kentucky, provided sign language interpretation for the event.
The Kentucky Small Business Development Center presented Kentucky Pacesetter awards to six businesses. Winners were chosen based on how they are changing Kentucky’s economic landscape by introducing innovative products, increasing sales and/or production, boosting employment and serving their communities.
This year’s outstanding Kentucky Pacesetters are D&D Shoe Company, Mayfield; Ingram Brothers, LLC, Morgantown; JSB Industrial Solutions, Inc., Tollesboro; Maynard Studios, Inc., Lawrenceburg; Trunnell’s Farm Market & Family Fun Acre, Utica; Flavorman and Distilled Spirits Epicenter, Louisville.
“We owe so much to the small businesses across the commonwealth that make our economy strong and diverse. It is a pleasure to recognize them and say thank you,” said Becky Naugle, KSBDC state director.
Each year, the U.S. Small Business Administration recognizes outstanding small businesses and entrepreneurs with awards across the country. The Small Business Person of the Year winner from each state will be acknowledged at both regional and national levels.
The 2016 Kentucky Small Business Administration award winners are:
Kentucky Small Business Person of the Year: David Dafoe, founder and CEO of Flavorman and Distilled Spirits Epicenter, Louisville
Kentucky Southeast Region 8(a) Graduate of the Year: Kathy Mills, president and CEO of Strategic Communications, Louisville
Kentucky Financial Services Advocate of the Year: Bill Fensterer, president and CEO of Capital Access Corporation, Louisville
Kentucky Minority-Owned Small Business of the Year: Harsha Wijesiri, president of Integrated Engineering, LLC, Lexington
Kentucky Veteran-Owned Small Business of the Year: Scott Matheny, president of Semper Tek, Lexington
Kentucky Woman-Owned Small Business of the Year: Desiree Sloan Harmon, founder and owner of Club Fit Studio, LLC, Paintsville
“The creative genius that drives our commonwealth forward lives in the minds of our entrepreneurs. This year we are honoring entrepreneurs from the far corners of Kentucky. We are deeply grateful for what they have done to sustain the economic vitality of large and small communities,” said Ralph Ross, district director of the Kentucky office of the U.S. Small Business Administration. “We are also grateful for our local, state and federal partners who work with us to help these entrepreneurs along their way.”
The Kentucky Small Business Development Center, part of the University of Kentucky College of Agriculture, Food and Environment, is a network of 13 offices located throughout the state. The center helps existing and start-up businesses succeed by offering high quality, in-depth and hands-on services. KSBDC is a partner program with the U.S. Small Business Administration. More information on KSBDC services can be found on their website, http://www.ksbdc.org/ .
Writer: Roberta Meisel, 859-257-0104
UK College of Agriculture, Food and Environment, through its land-grant mission, reaches across the commonwealth with teaching, research and extension to enhance the lives of Kentuckians.