In the new experience economy, the very idea of what a store is has changed. It’s transformed from a place for people to buy things into a place where people engage in shopping experiences of discovery and delight where product is the reward they take home. Under this new retail experientially-focused model, the old “product […]
Archive | 2017
How to Make Word-of-Mouth Marketing Work
In every survey Unity Marketing conducts with retailers on their marketing and advertising methods, word of mouth is hands down the most important, being both most used and most effective. For example, in a recent survey among furniture retailers, over 80% of furniture retailers named word-of-mouth their most powerful marketing tool. By contrast social-media marketing, […]
Millennial State of Mind Is Bringing New Life To Luxury Market
Bain & Company just released its predictions for the luxury market in 2017. It expects the overall luxury market, including both luxury goods and experiences, to post 5% growth this year to reach €1.2 trillion globally. After what it calls a “reboot” from 2015-2016, it sees the luxury market reaching a “new normal” of 4-5% annual […]
Diamonds Disrupted: How Man-Made Diamonds Will Disrupt The Mined-Diamond Industry
The mined-diamond industry is mightily concerned that the rapidly growing man-made diamond industry is on a course to disrupt their business. At least that is the conclusion I draw from the Diamond Producers Association’s new marketing campaign “Real Is Rare.” The DPA was organized in May 2015 by seven of the world’s leading diamond companies. Its new […]
Need a Retail Rescue? We’ve Got Your Lifeline
To be successful at retail, business owners must wear many hats. Their responsibilities span many disciplines, including management, business planning, marketing, social media, public relations, advertising, customer relations, operations, accounting, systems, technology, merchandising and product expertise. To be truly successful business owners must be competent in all or hire staff that can fill each of […]