Retailers Using Technology to Reach Shoppers

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July 08 (Bloomberg) -- Mortimer Singer, CEO of Marvin Traub Associates, and Scott Galloway, Chairman and Founder of Firebrand Partners, discuss how retailers using technology to reach shoppers. They speak on Bloomberg Television’s “Bloomberg Surveillance.” (Source: Bloomberg)

The buzzword is on the channel.

What does that mean?

It is really about the alliance of the -- the alliance and the consumer to shop wherever she is, whatever device she chooses to shop on, and wherever that may be.

I like how you tend to say she.

We tend to say she because there are more female shoppers.

Ultimately there are 85 million consumers today actively using their smartphones to shop in some way.

Just on the 10% of sales come in total resale -- retail sales coming from mobile, but 50% of overall sales are influenced by technology in some way.

What i find interesting, and this speaks to your activities on branding.

This is not just a company like walmart having a website and online business, this is about joining all of these technological streams to promote the brand, and brand loyalty has to pay off.

You think of digital and the connective channels.

Once you get a consumer -- to buy from -- in addition to the store from a catalog, they begin to purchase more.

We should all have our linkedin profiles, and use the turn on mnichannel.

Who are the companies, mortimer, leading the way?

Some of the department stores who have a similar gross margin are not completely merkel -- are not completely vertical, pushing forward on it.

Neiman marcus group has 40% of their consumers online, those not in a retail store.

They are letting them communicate with consumers, telling them to come back in.

It is about conversion, foot traffic, but it is also about gross margin inventory, too.

It is also about not being a best buy or a showroom concept for these stores.

What is interesting about it, in the case of macy's and neiman marcus respectively, they see the customers being four to five times better than a mono channel customer.

That can give them a leg up on some the mono channel guys like amazon.

Department stores are the format of yield a chair, lost share in the last nine or 10 years, so they have to do is -- they have to do something.

They have great management and the capital.

So em commerce for them is a survival strategy.

What about retailers outside of the department stores?

Are they also engaging in omn ichannel?

Is not -- the millennial customer coming-of-age who starts to become a homemaker will start to shop in a way that will not allow the people who don't brace technology -- who don't embrace technology, the ceo's that don't make technology the nuclear support they do -- is there a bad example of this, the company going about this the wrong way?

I think in general, most companies are behind the eight ball.

Leading the charge is victoria's secret, american eagle, doing very well.

In general, a lot of people have a lot of catching up to do.

The big goal has to bring that has to be to bring customers into the brick -- the big goal has to bring customers into a brick-and-mortar store.

Instead of talking about e- commerce and mobile commerce, we will talk about e-influence and mobile influence.

Can you just rid of the dumb ads i have on the internet?

If i look at luggage or something, for the next six weeks i get luggage ads.


It is like a negative.

It goes from democratic -- from demographic targeting to behavioral.

Mortimer singer.

This text has been automatically generated. It may not be 100% accurate.


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