Five Trends Driving Traditional Retail Towards Extinction | Forbes

The e-commerce behemoth is coming, but that’s no longer news. Amazon is nearly 20 years old now, eBay just a year younger.

What is news? The behemoth is arming itself. New tactics, new friends and a hefty war chest mean that the old defenses insulating traditional retailers are no longer enough. Venture funds dished out $242 million to online retail startups in the last quarter alone, more than any other period since 2000. E-commerce, meanwhile, is now a $200 billion-plus industry in the U.S., set to ratchet up 15% a year as consumers realize there’s no reason to trek out to the local strip mall anymore.

In the retail arms race, e-commerce is winning. Here are five trends driving traditional retail towards the grave:

Read the Trends.

Follow These Steps to Improve the Customer Experience | AllBusiness.com

Improving the customer experience doesn’t have to be complicated. It can be broken down into a three steps that allow you to examine how different parts of your business contribute to the overall encounter. Improved customer experiences usually result in increased customer retention and more referrals.

All you need to do is look at your business and its processes from the customer’s perspective, to see your company as the customer sees it. There are three steps: before, during, and after the customer interaction.

Before the Sale

“Before” includes how customers become aware of your business and the influences that drive them to walk up to your door. Marketing and word-of-mouth advertising is a big part of this step. In today’s world, advertising includes everything from traditional mainstream media to social media platforms such as Facebook, blogs, and Twitter. For retailers, store signage and point-of-sale advertising is still important.

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