STORES Magazine - January 2010 - (Page 71)

CONSIDER THIS / NRF NEWS Ready to Innovate Traditional advertising will meet digital marketing in a time where retail companies are looking to both for innovation. The inaugural Retail Innovation & Marketing Conference, powered by RAMA and, will bring together these two critical areas of the promotional world for what is sure to be a provocative conversation about the future of marketing. Attendees will see how to seamlessly blend traditional and digital channels to reach, engage and retain their key customers. At the event, being held March 2-4 at the Westin St. Francis in San Francisco, prominent retailers will be on hand to present their best practices and innovative techniques. Macy’s chief marketing officer Peter Sachse will share how his company is relying on new technology and a multi-channel strategy to drive traffic to the store; Pat Connolly, chief marketing officer of Williams-Sonoma, will highlight the ways the specialty retailer is leveraging its traditional roots as a catalog retailer to embrace online and interactive channels. Other session topics will include cross-channel marketing, integrating mobile social media into a marketing strategy and creating new ways to enhance the customer experience. Pat Connolly Rating the Best in Service W ith seemingly every retailer competing on price these days, some companies are using customer service to set themselves apart. The NRF Foundation Customers’ Choice Awards, sponsored by American Express and conducted by BIGresearch, recognize retailers that rise to the highest level of customer service. The survey is designed to gauge consumer attitudes toward retailers’ customer service, to promote best practices Fed Eyes Instant Credit ew regulations proposed by the Federal Reserve may do away with instant credit for customers during checkout, causing a tight consumer credit market to become even tighter. The new regulations would change the way retailers are required to judge the credit-worthiness of customers when issuing credit cards or upgrading a customer’s existing credit limit. This proposal would be especially problematic for retailers that currently use computerized systems that rely on a customer’s credit score and other credit-related information to assess individuals’ payment history on existing and/or previous credit and provide a “yes-or-no” decision within a manner of seconds. The Credit CARD Act would bar credit from being granted unless the issuer “considers the ability of the customer” to pay under the terms of the account. In comments filed with the Federal Reserve late last year, NRF senior vice president and general counsel Mallory Duncan called the proposal “disruptive” and said such a rule would “curtail or eliminate many routine credit granting practices that are safe, valued and desired by both retailers and our customers.” Instant credit is no different from the process of filling out paper credit applications a generation ago, Duncan wrote in the filing, except that technology “has allowed the assessment process to move so quickly that it appears to the customer at checkout as if the decision were instant.” N and to recognize retailers that provide excellent service to shoppers. These 10 finalists will vie for the distinction of being recognized as the very best in customer service: Coldwater Creek HSN J.C. Penney Kohl’s Lands’ End L.L.Bean Nordstrom QVC Zappos The ranking of the top 10 companies will be announced during NRF’s Annual Retail Industry Luncheon, Tuesday, January 12, at Retail’s BIG Show in New York City. WWW.STORES.ORG STORES / JANUARY 2010 71 http://WWW.STORES.ORG

Table of Contents for the Digital Edition of STORES Magazine - January 2010

STORES Magazine - January 2010
Editor's Page
President’s Page
Retail People
CEO Profile
20 Ideas Worth Stealing
Digital Coupons
Customer Loyalty
Labor Scheduling
Data Management
Human Resources
Retail Fraud
Loeb Retail Letter
ARTS Update
NRF News
Point of View
Retail Industry Calendar
End Cap
Global Powers of Retailing

STORES Magazine - January 2010