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ShopperTrak: Understanding consumer behavior top retailer challenge

BY Dan Berthiaume

Understanding shopping and buying behavior is the most common challenge facing retailers. According to a survey of nearly 200 retailers, executives, financial analysts, industry analysts and university academics at the recent ShopperTrak users group conference, 44% of attendees reported that understanding consumer behavior in-store is currently their biggest challenge.

This was followed by using big data to make business decisions (25%), omnichannel pressure (17%), staying up to date on the latest technologies (12%), and merchandising and store design (2%).

Other notable findings include:

  • Conversion trumps all other measurements. Seventy-nine percent of attendees report that conversion rate is the most important metric to their company. This was followed by traffic (17.5%) and units per transaction (2.5%). 
  • Holiday measurement preparation has begun. Sixty-four percent of attendees said they have started or plan to implement in-store analytics programs for holiday 2014. More than one-third (36%) have not yet implemented in-store analytics programs to prepare for holiday 2014.
  • When it comes to in-store analytics technology, retailers are more familiar with some technologies than others:
  • Sixty-six percent are very or somewhat familiar with BLE/iBeacon, while 84% are very or somewhat familiar with BlueTooth. 
  • Thirty-nine percent are very unfamiliar or not familiar with mobile wallet. On the flip side, 57% are very or somewhat familiar with mobile wallet. 
  • Forty percent are very likely to implement BLE/iBeacon, BlueTooth, Wifi in the next 12 months.
    –>

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WD-40’s sales rise in third quarter

BY HBSDealer Staff

Though sales were up 3% and income increased 1% for WD-40 Company in the third quarter, shares for the lubricants and cleaner supplier were down more than 6% Thursday morning after management narrowed the full-year guidance.

Net sales for the quarter came in at $95.7 million, up from $93.1 million in the same quarter last year. This was largely carried by sales of multi-purpose maintenance products; sales of homecare and cleaning products decreased 1%.

The company’s bottom line totaled $10.4 million for the third quarter, compared to $10.3 million in earnings in the 2013 quarter.

"We are pleased with the solid progress we have made for the year and remain confident that our strategic initiatives are well positioned to carry us into the future” said Garry Ridge, WD-40 Company’s president and CEO. “While we continue to see fluctuations in certain markets quarter to quarter, our long-term growth plans remain stable and we continue to deliver on our expectations.”

The updated fiscal year guidance points to net sales between $380 and $387 million — a growth rate of 3 to 5% — and net income between $41 and $43 million.

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HCN Stock Watch: LL slides on Q2 update

BY HBSDEALER Staff

Lumber Liquidators (LL) dropped 8.06% after releasing an update on its second-quarter performance, which pointed to weak traffic and demand for the retailer.

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