Media Advisory: Next trends in retail sales

According to U.S. Commerce department numbers, companies are restocking shelves — a positive sign that they expect consumers to step up spending. Companies are building up their stockpiles in expectation that sales will rise with the improving economy.

But if businesses expect to increase sales through traditional marketing in brick and mortar malls and superstores, customers have very different expectations. “That kind of shopping experience isn’t tailored to individual consumers’ needs or preferences,” says Sheri Bridges, an associate professor of marketing and the faculty director of Wake Forest’s retail marketing center.

“Savvy businesses need to use a portfolio approach to distribution – one that makes goods and services available to consumers when and where they want them,” says Bridges. “Consumers nowadays need a variety options for purchases: buying in stores, from catalogs, from conveniently located kiosks, in partner stores (i.e., music CDs at Starbucks), online, using mobile smartphone apps, from vending machines and from mobile retailers, to name a few.”

Plumbers, painters and electricians have always come to our homes. “Now dog groomers, mechanics, chefs, artists, toys salespeople, seafood vendors, and local produce growers have become marketing Muhammads who realize that if the mountain won’t come to them, then they must go to the mountain,” Bridges says.

“As kids, we loved hearing the tinkle of the ice cream truck’s bell because we knew we were in for a treat. In the same way, we look forward to having the products and services we want delivered to us at our homes or places of work.  It’s different, it’s a fun treat . . . and yes, it’s incredibly convenient.”

Sheri is available for print, television and radio interviews. Best days are Mondays, Wednesdays and Fridays.

Contact:

Kim McGrath, 336-758-3209, mcgratka@nullwfu.edu

Stephanie Skordas, 336-758-3826, skordas@nullwfu.edu

Categories: Media Advisory