Cox automotive future of digital retail study final

| July 3, 2018

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As part of the Cox Automotive Future of Digital Retail Study, 2,550 car shoppers described the 89% of consumers said they wanted to sign final documents.

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Finnegan, Henderson, Farabow, Garrett & Dunner, LLP

Finnegan, Henderson, Farabow, Garrett & Dunner, LLP is dedicated to advancing the ideas, discoveries, and innovations that drive businesses around the world. From offices in the United States, Europe, and Asia, our lawyers work with leading corporations and innovators to protect, advocate, and leverage their most important intellectual property assets. Our diverse client base covers a range of industries and technologies, including biotechnology, pharmaceuticals, chemicals, industrial manufacturing, electrical components, medical devices, and computer technologies.

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How Retailers Can Utilize In-Store Digital Signage

Article | February 10, 2020

Consumer attention is shifting. Brick-and-mortar stores must now compete with e-retailers as customers spend more time online, thanks to targeted ads and personalized deals. As noted by Digital eCommerce, online sales rose almost 18 percent last year to $3.46 trillion worldwide and are on track to top $892 billion across the U.S. in less than two years. This shift has alerted most brands to the need for a retail evolution to ensure ongoing success. With e-commerce sales still accounting for just under 10 percent of retail revenues, businesses have an opportunity to boost sales and raise their brand profile — if they can reliably capture consumer interest. One solution: effective and engaging digital signage. Retailers Can Capture Crucial In-Store Moments To capture attention and drive conversion, businesses must capitalize on what Google calls micro-moments, when customers leverage their mobile devices to discover more information, find a price or pinpoint a vendor online.

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How Retailers Can Engage Consumers with Creative Licensing

Article | February 10, 2020

Consumer has become discerning, ultimately asking more from a brand and ensuring everything from value, quality, convenience and eco-consciousness is catered for. This places a strain on bricks-and-mortar retail to provide a unique experience and a reason for buyers to log-off and leave the house. Julia Redman, founder, Buyers Eye, offers an insight into how to clear market confusion and differentiate brands. “The trend for buying less, but buying better, has the potential to completely change how we shop,” says Julia Redman. “GenZ and millennial consumers are very aware of the impact we are having on our environment and eventually this will signal an end to the era of ‘pile it high, sell it cheap’ fast fashion. Price will eventually cease to be the most important part of the value equation, with quality and sustainability becoming more critical factors in the customer decision making process.

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How Retailers Can Handle an Influx of Store Traffic

Article | February 10, 2020

Amazon.com, Etsy, eBay these are just a few of the top grossing online merchandise sites, dedicated to making the consumer’s retail experience easier than ever. Amazon boasts its two-day shipping guarantee for Prime members, while Etsy caters to the entrepreneurial spirit of the buyer who wants their goods completely customized and unique. In theory, these sites are ideal for the busy American worker, who finds convenience and ease when shopping from the comfort of their living room. But is it enough? Do consumers really prefer shopping online? According to the numbers, the answer is surprisingly no. A recent TimeTrade study found that more than 70 percent of consumers prefer to shop at a brick-and-mortar store over Amazon. In addition, another study conducted by First Insight found that both men and women tend to spend more money in stores compared to purchases made online.

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Fashion retailers may have to write-off £15bn worth of spring and summer stock

Article | February 10, 2020

Unprecedented volumes of clothing are building up in warehouses as fashion retailers are unable to sell their spring and summer stock. The majority of physical shops in the UK remain closed under the government’s current lockdown measures, with sales of non-food items down by 70 per cent according to research by Retail Economics and Alvarez & Marsal reported by the Times. The study found that more than 50 per cent of non-food retailers in the UK will likely run out of cash in the next six months, with all major non-food retailers operating in negative cash flow at present.

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Spotlight

Finnegan, Henderson, Farabow, Garrett & Dunner, LLP

Finnegan, Henderson, Farabow, Garrett & Dunner, LLP is dedicated to advancing the ideas, discoveries, and innovations that drive businesses around the world. From offices in the United States, Europe, and Asia, our lawyers work with leading corporations and innovators to protect, advocate, and leverage their most important intellectual property assets. Our diverse client base covers a range of industries and technologies, including biotechnology, pharmaceuticals, chemicals, industrial manufacturing, electrical components, medical devices, and computer technologies.

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