Gary Ambrosino

New Amazon Store A Reality Check for the eRetailer

Gary Ambrosino — Sun, 12 Oct 2014 14:44:57 +0000

The Announcement of The First Amazon Retail Store Signals 3 Stark Realities for Amazon

The Wall Street Journal reported last week that Amazon (nasdaq: AMZN) plans to open their first retail store in mid-town Manhattan at 7 West 34th right across the street from the Empire State Building. Over 4 million visitors a year pass by this spot – – good for Amazon’s first foray into Bricks and Morter. For Amazon, the store opening is a nod of approval to the retail reality faced by all online retailers and a path to eventual profitability.

Reality Check #1: Retail Shopping Is Not Going Away Anytime Soon

According to eMarketer in an April 2014 Study, by 2017 in-store retail will account for almost $5 Billion of sales compared to just $450 million of eCommerce shopping. If Amazon wants to grow they must open retail stores:

US Retail Sales by Channel

Reality Check #2: Amazon’s Broad Product Selection Requires Brick-and-Morter Stores

Much of Amazon’s growth comes from carrying the broadest possible selection of merchandise across virtually all product categories. According to a recent study by AT Kearney in-store retail shopping remains strong across many product categories.

Reality Check #3: Physical Stores Where Customers Can Get Help Will Increase Sales

Brick and mortar retail executives universally understand this reality. A recent Survey of Retail Executives by TimeTrade, found that senior retail executives agree the number 1 thing missing from many retailers and a #1 competitive focus. The executives also agreed that providing this kind of service will give them a real advantage in getting customers to spend money with them. So if Amazon wants to compete, stores are going to be the most competitive way to do this. The same study found sales on average will increase between 50 and 75% will some personalized service:

timeTrade Survey Results

Is Amazon on the right Track ?

Yes, definitely. Over the next 5 years Amazon has to grow FASTER than eCommerce online retailing will let them. All the indications from consumer buying habits are that brick-and-morter store locations is the only way to do this.

About Gary

Gary Ambrosino is CEO of TimeTrade, a leading SaaS company that creates satisfying customer experiences for people that visit retail stores. Click here to learn more about TimeTrade’s enterprise retail SaaS platform products.

3 Ways to Crack The Retail Shopper Satisfaction Code

Gary Ambrosino — Thu, 18 Sep 2014 16:23:06 +0000

The three words most consumers use to describe their very best shopping experiences are fast, convenient and personalized. But those experiences are few and far between.

Think about your last shopping experience; what was it like? Slow service? Inexperienced retail associates? Long lines? Those are, by far, the three most common complaints.

Here are 3 things customers say will create a positive experience that meet their expectations:

1. It’s Not Only About Retail Price

That’s right, the biggest misperception is that most customer satisfaction comes from the right price. Here’s what consumer say when polled:

Consumers say that the level of personal, undivided attention they get is most important by a wide margin ! And things get even better when they talk to someone who knows what they are talking about.

2. Help Them ! In-Store and Also Online Retail

Another urban myth is that people like online shopping because they can “do it themselves” with no help. Faster, better right ? Surveyed consumers say WRONG:

3. Give Them What They Want – But Do It in 5 Minutes or Less

Shoppers have a huge “wait and flee” attitude. It’s easy to spot if you spend any time in a big box or specialty store.

A retailer’s best defense — against showrooming, price matching, or sheer impatience — is to quickly connect consumers with the very best resource to help them find — and buy — exactly what they need.

Want to Increase Retail Sales? Put the Spotlight Back on In-Store Experience

Gary Ambrosino — Sun, 14 Sep 2014 13:37:25 +0000

In any business, customer service is a top priority. Shockingly, most retailers are still missing the market, and are losing out on thousands of customers because they don’t understand what buyers really want.

New survey results, from more than 1,000 consumers, detail an opportunity for retailers to break away from the pack and improve sales and customer satisfaction by changing how and when consumers connect with retail brands.

The survey data is convincing.

Consumers are leaving stores when they don’t finding the service they want. According to the January 2014 survey of more than 1,000 shoppers, 90 percent are leaving the store empty-handed when they can’t find the help they need. That’s money walking out the door, especially when 86 percent indicated they purchase more than planned when offered the right help.

You can read more on this topic in other articles and interviews with Gary:

Forbes (September 2, 2014) interviewed Gary for a story on the retail industry: “How Target Stands Out Among It’s Discount Store Competitors.”
Business News Daily quoted Gary and TimeTrade in an article on improving the sales process: “Want to Improve Sales? Listen to Your Team.” July 31, 2014
MarketWatch – Wall Street Journal, (June 26, 2014) Press release “Software and Technology Companies See 25% Increase in Sales Efficiency with TimeTrade’s Demo-Scheduling Application”
Business Week (May 16, 2014) Gary featured in story, “The Smart Way to Shrink Your Retail Store”.
S. News and World Report – Gary featured in article on banking industry, “Why You Hate Your Bank”
Forbes (September 22, 2013), Gary interviewed by Karstan Strauss about why happy customers buy more and the way retailers are working to make this happen in the article, “It’s the Customer, Stupid.”

Retail Can Capitalize on Digital Disruption in 3 Ways

Gary Ambrosino — Sun, 31 Aug 2014 12:37:32 +0000

In Retail, the introduction of new, disruptive technologies redefines core systems, including payments and supply chain, and repositions everyone on equal footing. Retailers should stop shying away from digital options and learn to embrace them.

Here are three things to add to today’s retail presence to capitalize on digital disruptions:

First Thing’s First – There is a seemingly endless list of new digital options for retailers. In 2014 alone, we’ve seen significant growth in 3D printing, digital currencies and curated shopping with online retailers. Before jumping in with both feet, retailers need to survey the scene and make an educated decision on what digital options to choose to implement. Survey what new digital options are most suited to your retail business and make the leap.

Be Unique – In a recent CNBC article, Steve Barr of research group PwC stated that the most successful retailers don’t cut prices—rather, they offer unique products and shopping experiences. Retailers shouldn’t be afraid to explore digital options that aren’t found in traditional retail settings. By incorporating unique technologies, retailers have the opportunity to reach new demographics with an unparalleled experience.

Get Out Ahead – Technology isn’t going to stop improving, and customers will likely never stop wanting to experience the next big thing. It’s critical for retailers to stay on top of industry changes and make investments in new digital options as they emerge. Becoming an early adopter or even pioneering original, creative solutions are ways to gain significant recognition in the industry.

The digitization of retail is the new normal—consumers will continue to demand and expect the availability of digital options. Retailers that want to stay relevant can’t afford to sit on the sidelines any longer. The convergence of digitization with face-to-face service opportunities requires an integrated approach for creating repeatable retail success and more durable brand loyalty.

Nordstrom: How Great Customer Experience Management Starts At The Top

Gary Ambrosino — Sun, 06 Apr 2014 12:53:53 +0000

Great Customer Experience Starts At The Top In Any Company

What makes the BIG difference when it comes to creating a great customer experience? I’ve worked with many senior management teams at leading brands and had a chance to “look under the covers” at how great brands create durable customer loyalty.

One of the leaders is a brand name we’re all familiar with – Nordstrom. Compared to many other national brands, Nordstrom is relatively small with just over 100 stores in the U.S. On the other hand, just about every American consumer knows the Nordstrom name.

The “secret sauce” to this isn’t size and scale. What differentiates great brands from the pack boils down to the simple time tested principal of great management awareness and focus. Well articulated customer focus is the leadership recipe that ripples down all the way to the in-store sales associates.

No one does this better than Nordstorm. Watch this NRF (National Retail Federation) video interview with Erik Nordstrom and Fanya Chandler to see how a top brand does it:

With this kind of approach from the leadership team at Nordstrom, it’s no surprise they they rank at the top of the world’s most respected retail brands.