Walmart’s $7 Billion ‘Gift’ To Kohl’s

Although Walmart’s global e-commerce operations reported 22% gains in sales for fiscal year 2015, U.S. same-store sales at Walmart stores were comparatively lackluster at +0.5%. Overarching retail trends like declining store traffic, the “death” of malls, and rise of online shopping (and, of course, Amazon.com) have been discussed at length by analysts and industry pundits with Walmart executives announcing plans to combat this in-store shopping fatigue by improving customer experience, keeping prices low, and expanding product assortment. While this three pronged approach to engaging shoppers and promoting loyalty to Walmart seems well-meaning, it’s also very broad and, quite frankly, could be used to define the strategies of any one of Walmart’s competitors, including Amazon.

Using the years of syndicated insights Prosper has collected on Walmart, I took a deeper look at one of the big discounter’s core customer groups – its grocery shoppers – in order to gain a better understanding of what ails this retailer. This analysis revealed that potential revenues are leaking like a sieve out of Walmart’s apparel departments, with Kohl’s lapping up a hefty proportion of Walmart’s so-called “lost opportunity.” Continue reading

How Neuromarketing And The Science of Influence Will Change Marketing

The latest from Prosper on Forbes.com

Gary Drenik, CEO of Prosper, recently talked with Dr. Martin Block, a professor from the Medill School at Northwestern and a member of the Applied Neuromarketing Consortium, to discuss new research on Neuromarketing just published in Frontiers in Human Neuroscience. The findings may lead to a whole new way of understanding and influencing consumer behaviors through the science of influence as a promotion variable.

In addition, the current issue of the American Marketing Association’s “Marketing News” features an article written by Dr. Don Schultz, professor (emeritus-in-service) of integrated marketing communications at Northwestern. In this article, Schultz highlights key areas which can create problems for marketers who focus more on distribution of messages than outcomes.

Together these viewpoints highlight how important influence is to marketing, media and promotion.

Click here to read Gary’s Forbes post that includes highlights from his interview with Martin Block, as well as a link to Don Schultz’s article in “Marketing News.”

TaoBao.com #1 Destination for Apparel in China, But Net Promoter Score* is Low

New infographic from ProsperChina highlights top apparel destinations and compares their Net Promoter Scores. It also provides the latest insights regarding Chinese consumers’ feelings about fashion and their country of origin preferences for branded apparel.

Worthington, OH – 1/28/2015

ProsperChina™ has released the latest Consumer Snapshot Infographic, available in both English and Chinese, to provide global marketers with a better understanding of Chinese Consumers. The infographic uses information from the newly released Q4 ProsperChina Quarterly Survey which is the largest, ongoing survey of its kind in China. This unique infographic includes the top five destinations for apparel in China as reported by Chinese consumers, along with their respective Net Promoter Scores* (NPS) and how the ratings compare to the overall average. It also uncovers country of origin preferences for clothing (including China, U.S., Europe, Japan and Korea) for Chinese consumers and highlights feelings about fashion. Continue reading

Seeing The Future Is Key To Success In 2015

The latest from Prosper Now’s Blog on Forbes.com

It’s a new year and many leading companies have new plans when it comes to their data and analytics initiatives. Target announced some organizational changes in December that include a Center of Excellence which will be led by an SVP of Enterprise Data, Analytics and Business Intelligence. Many other companies have already or will likely follow suit. However, the ideal analytics initiative will utilize many meaningful external data sets, and not just rely on internal data such as SKU’s, current customer demographics and so on. Continue reading…

C-Suite Tip For 2015—Advanced Analytics

The latest from Prosper Now’s Blog on Forbes.com

In the 1960’s movie The Graduate, a recent college grad played by Dustin Hoffman is counseled by a well-meaning family acquaintance to think of one word for his future job aspirations—plastics. “There’s a great future in plastics. Think about it,” said Mr. McGuire. He asks “Will you think about it?” to which Hoffman’s character replies, “Yes I will.”

However, 2015 is shaping up to be continue reading…

Era of Business Disruption–Why The C-Suite Needs To Focus On An Organic Growth Strategy

The latest from Prosper Now’s Blog on Forbes.com

Time was when successful experience shaped by years of competing in the market and a solid grounding in business processes and finance made for a good C-level candidate. This type of leader who could “rally the troops” was something every company wanted on center stage. However, that was also a time when markets and competition were much more predictable—a time when consumers had fewer choices and when the economy was more dynamic and insulated from foreign events. Continue reading…