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Page 14 MAY 2017 | RETAILERS FORUM MAGAZINE

For Late-Breaking Industry News Visit: www.retailersforum.com

If It Affects Retailing We Report On It!

Unlikely Platform Gaining Prominence

MUCH has been said that in order to remain in business retailers need to embrace the internet.

And that means in all possible ways including e-commerce, blogs, videos and platforms like Twitter

and Facebook. These outlets are essential for expanding your brand and increasing your sales.

However, an overlooked platform has been gaining traction and that is Pinterest.

IF you are not currently using Pinterest in your marketing toolbox you are missing out on a huge

opportunity to increase your online business. The platform is easy to use and navigate around and

best of all, it is free! This makes for a great online branding resource that all retailers should be

engaged with.

LAST October Pinterest reached a milestone of 150 million users monthly. This number easily

surpasses USA users over Facebook and YouTube.

WHETHER you organize your social media campaigns yourself or use an outside service, make

sure that you are posting to Pinterest. Be creative to make sure your posts and pictures are being

seen and be sure to optimize your pin captions and promote your blog. Pinterest also allows posters

to embed pins with direct links to other sites and pages.

THIS platform has been a real sleeper in the retail industry and smart marketers have been

taking advantage of the vast audience and no-cost promotions they can do with it.

Mobile Payments Are Evolving

THERE is an interesting report out regarding digital wallets and mobile payment systems.

Apparently only 13% of smartphone owners have a digital wallet app, while the majority of those

who have one rarely use it (76%). The talk in the industry is that over the next several years there

will be greater pushes to promote the digital wallet as more countries throughout Europe, India and

Africa become cashless societies.

THE technology is constantly evolving and the security concerns that many have will soon

subside as developers understand the importance of making transactions safe and secure for users.

FOR customers the digital wallet allows them to not carry a heavy wallet or be concerned with

forgetting to have cash or credit cards when you go out. Even ID's are being incorporated into the

digital wallets. Many users already keep their boarding passes for travel in their digital wallet, so

expanding into swipe and go will be a natural and something that retailers will need to be offering

to shoppers sooner than later. Even wearables like watches, wristbands and jackets have been

incorporating the technology to make payments on the go. In the future it is expected that you will

be able to preorder your morning coffee at Starbucks while driving with the app connected by your

car.WE are headed towards a digital and cashless society, whether we like it or not. Accounts will

be monitered in real time conveniently and efficiently. Retailers will need to check it out to get on

board.

Retailing Tidbits

BEBE, clothing retailer will close 21 stores as it works to overhaul their business. This represents

around 12% of their units closing while they explore strategic alternatives for their business. There

has been speculation of a Chapter 11 filing, so the market is keeping an eye on this move.

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