TECHNOLOGY

Consumers are taking stock of their financial health and how it will affect their decisions to make CPG purchases in the coming months.

According to the new first quarter 2016 IRI Consumer Connect survey, 67% of respondents feel their financial health will improve in the next six months. As a result, CPG spending will generally improve, but shoppers have some specific needs and wants to fulfill.

Yes, but only if you listen — to both of them

In the early days of retail, the store proprietor knew customers by sight. As mostly mom-and-pop businesses, they naturally spent time getting to know their customers, who probably were also neighbors and friends. They knew from experience and immediate feedback what merchandise would or wouldn’t sell. It was the ultimate in customer intimacy.

Office Depot Inc. is turning to virtual reality (VR) to enhance how products are displayed and merchandised in its stores.

The retailer is leveraging the ShopperMX online 3D VR platform from InContext Solutions to create engaging in-store experiences that provide customers with hyper-realistic virtual simulations. This may include virtually enhanced signage and product displays, as well as entirely new store concepts.

Michaels Companies Inc. is tailoring its promotions, markdowns and prices to current customer demand.

The arts and crafts retailer is deploying Revionics merchandising solutions including the vendor’s promotions, markdown and price suites.

A very real challenge for retailers — who now market to the most technology-enabled, in-control shoppers ever — is to avoid the promotional downward spiral vortex and sidestep the vicious “race to the bottom” on competitive pricing. These traps severely erode margins, profits and brand image.

A ruling in the dispute between the Federal Trade Commission and Staples could hinge on whether the judge in the case is an Amazon Prime member who appreciates the online giant’s disruptive business model and potential to impact the business-to-business marketplace.

A shakeup in the executive ranks is reportedly occurring at Kohl’s.

According to AdAge, Will Setliff, executive VP of marketing at the department store chain, is resigning his position the week of April 11. There has been no press release from Kohl’s or Setliff and surprisingly little coverage of his career shift outside of AdAge.

Increased security risks tops the list of a new survey of 300 top global retail executives on the topics keeping them up at night.

According to “Finding Retail Growth: A View from the Corner Office,” sponsored by Demandware and conducted by Economist Intelligence Unit, retail leaders view increased security risks, the rise of globally competitive online marketplaces, shifts in consumer taste and increased globalization as the four most significant challenges impacting the industry.

As a retailer of automotive aftermarket parts, tools, supplies, equipment, and accessories, O’Reilly Automotive Inc. helps its shoppers customize and tailor their vehicles to individual preferences.

So when the Springfield, Missouri-based chain decided to update its omnichannel customer experience, it realized a highly customizable solution would be needed. O’Reilly has selected the e-commerce platform from Broadleaf Commerce to support seamless marketing and merchandising across its mobile and Web channels, as well as its 4,571 stores in 44 states.