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cbsi Conversations (YouTube)

cbsi Conversations - presented by Ken Kraetzer

Ken Kraetzer, cbsi Vice President, often conducts interviews with several leading business executives, entrepreneurs and industry thought-leaders.

This month, Ken met with retail expert Ryan Craver. Below is that interview.

 

“Amazon’s Sales are up 34% YTY in 2017, it is not Slowing” commented Ryan Craver during the November Marketing Idea Exchange luncheon in NYC. Ryan is president & CEO for Trimfit.com part of Lamour.com Group.

What is driving change in retail sales?  Ryan provided some thoughts:

  • Worldwide use of smartphones
  • Easy ability to scale e-commerce
  • Multiple channels to reach consumers
  • More demanding customers
  • Fast growth of m-commerce

The challenge for retailers, Ryan suggests, is to follow customers as they go from on-line to retail and back to their tablets and phones. Before making purchases, 69% consumers research on-line before going to store while 53% research in store before purchasing on-line. Ryan highlighted decreasing overall spend in certain categories led by home furnishings and apparel.

About why consumers like to shop on-line, Ryan mentioned: E-commerce provides, “Endless aisle / max choices, familiarity of available brands, open 24/7/365 days, instant gratification, free shipping/free returns, user generated reviews.

Moreover, Ryan finds that “55% of customers looking for products search Amazon first. Look for Amazon to grow in India leveraging learning from experience in China.

Watch the videos below:


 

Reach Ken Kraetzer on 914-630-3457 or kkraetzer@cbsiservices.com

For more cbsi Conversations, click HERE.