STORES Magazine - October 2008 - (Page 12)

CONSIDER THIS / PRESIDENT’S PAGE Web of Inspiration BY TRACY MULLIN The Voice of Retail Worldwide STORES is published by NRF Enterprises Inc., a subsidiary of National Retail Federation Inc., 325 7th St. NW, Washington, D.C. 20004. (202) 783-7971 FAX (202) 737-2849 hile attending Shop.org’s Annual Summit last month, I wondered if online retailers had begun taking cues from psychologist Edward de Bono, who said, “It is better to have enough ideas for some of them to be wrong, than to be always right by having no ideas at all.” What is inherently magnificent about the web is that it offers limitless opportunities for retailers willing to think outside the box. With customers heading online to find better prices or research products before driving across town, it’s no wonder that the web is retail’s silver lining this year. Almost three-fourths of companies surveyed for Shop.org’s “State of Retailing Online” said that websites were better able than stores to withstand a downturn. As a result, retailers are continuing to invest in the online channel to raise the visibility of their company. When creating its new website, Borders knew that shoppers spent an hour in its stores. In the hopes of recreating that experience online, Borders filled its site with rich content, including author interviews, staff recommendations and cooking demonstrations. The company also created “Magic Shelf” to replicate the store experience of being able to pick up a book and turn it over to read the back. Other retailers are investing in new concepts that will help consumers easily move back and forth between channels. JCPenney.com recently launched a “Know Before You Go” feature where customers can determine, almost in real time, if an item is in stock at a nearby store. Cabelas.com is boosting the content of its store locator page, adding photos and videos to each store description. When it comes to dazzling online retail experts, few companies had people buzzing as loudly as Etsy.com, an online marketplace for buying and selling handmade merchandise like jewelry, artwork and music. The site features a geo-locator so buyers can search by geographic area. And while searching by color is nothing new online, Etsy.com gives customers the opportunity to search by nearly every shade imaginable. Some new web features require taking a calculated risk. Patagonia introduced a feature that shows customers where they can find out-of-stock merchandise — even if it’s from a competitor. The company determined that the possibility of sending a handful of shoppers to a competitor was worth the customer loyalty it would engender. Gap, which recently combined its brands under one roof on the web, ran the risk of diluting higher-end brands by partnering them with lower-priced goods. But Gap.com CEO Toby Lenk, who spoke at the Summit, said the biggest traffic beneficiaries of the chain have been Banana Republic and Piper Lime, and that he sees customers aspiring to trade up, not down. While the retail world has no shortage of creativity, channeling it can be a hurdle. As retailers leverage their websites this holiday season to drive store traffic, grow their brands and increase sales, we are likely to see even more creative — and exciting — concepts emerge. W CHAIRMAN OF THE BOARD Myron E. (Mike) Ullman, III, Chairman, President and CEO, J.C. Penney Co. VICE CHAIRMEN Philip L. Francis, Chairman and CEO, PetSmart, Inc. Stephen I. Sadove, Chairman of the Board and CEO, Saks Inc. PRESIDENT & CEO Tracy Mullin SENIOR VICE PRESIDENTS Denise Brasse, Industry Relations Mallory B. Duncan, General Counsel Michael G. Gatti, Communications David Hogan, CIO Carleen C. Kohut, Finance & CFO Steven J. Pfister, Government Relations NRF Divisions Association for Retail Technology Standards EXECUTIVE DIRECTOR Richard E. Mader (202) 626-8140 National Council of Chain Restaurants PRESIDENT John R. (Jack) Whipple (202) 626-8183 FAX: (202) 626-8185 Retail Advertising & Marketing Association EXECUTIVE DIRECTOR Michael G. Gatti (202) 626-8117 FAX: (202) 737-2849 EXECUTIVE DIRECTOR Scott Silverman (202) 626-8192 FAX: (202) 626-8191 325 7th Street, NW Suite 1100 Washington, D.C. 20004 All articles published in this magazine represent solely the individual opinions of the writers, and not necessarily those of the National Retail Federation. 12 STORES / OCTOBER 2008 WWW.STORES.ORG http://www.Shop.org http://www.Shop.org http://www.JCPenney.com http://www.Cabelas.com http://www.Etsy.com http://www.Etsy.com http://www.Gap.com http://www.Shop.org http://WWW.STORES.ORG

Table of Contents for the Digital Edition of STORES Magazine - October 2008

STORES Magazine - October 2008
Contents
Executive Editor's Page
President's Page
Force of a Different Collar
What Shoppers Think
Bagging the Competition
10 Things You May Have Missed
Numbers Worth Counting
Full Price/Markdown
Retail People
Favorite 50
Sticky Strategies for Retention
Concept2Watch
Kiosks
Online
Business Intelligence
RFID
NRFtech Wrap-up
E-Commerce
Credit
Warehouse Systems
Logistics
Selling Tools
Supply Chain
LOEB Retail Letter
Arts Update
Point of View
NRF News
Retail Crossword
Retail Industry Calendar
Last Laugh

STORES Magazine - October 2008

https://www.nxtbook.com/nxtbooks/nrf/STORES2019_tuesday
https://www.nxtbook.com/nxtbooks/nrf/STORES2019_monday
https://www.nxtbook.com/nxtbooks/nrf/STORES2019_sunday
https://www.nxtbook.com/nxtbooks/nrf/STORES2019_preview
https://www.nxtbook.com/nxtbooks/nrf/STORES_bigshowdaily20180116
https://www.nxtbook.com/nxtbooks/nrf/STORES_bigshowdaily20180115
https://www.nxtbook.com/nxtbooks/nrf/STORES_bigshowdaily20180114
https://www.nxtbook.com/nxtbooks/nrf/STORES2018_preview
https://www.nxtbook.com/nxtbooks/nrfe/STORES0415
https://www.nxtbook.com/nxtbooks/nrfe/STORES0315
https://www.nxtbook.com/nxtbooks/nrfe/STORES0215
https://www.nxtbook.com/nxtbooks/nrfe/STORES0115
https://www.nxtbook.com/nxtbooks/nrfe/STORES1214
https://www.nxtbook.com/nxtbooks/nrfe/STORES1114
https://www.nxtbook.com/nxtbooks/nrfe/STORES1014
https://www.nxtbook.com/nxtbooks/nrfe/STORES0914
https://www.nxtbook.com/nxtbooks/nrfe/STORES0814
https://www.nxtbook.com/nxtbooks/nrfe/STORES0714
https://www.nxtbook.com/nxtbooks/nrfe/STORES0614
https://www.nxtbook.com/nxtbooks/nrfe/STORES0514
https://www.nxtbook.com/nxtbooks/nrfe/STORES_sourcebook2014
https://www.nxtbook.com/nxtbooks/nrfe/STORES0414
https://www.nxtbook.com/nxtbooks/nrfe/STORES0314
https://www.nxtbook.com/nxtbooks/nrfe/STORES0214
https://www.nxtbook.com/nxtbooks/nrfe/STORES0114
https://www.nxtbook.com/nxtbooks/nrfe/STORES1213
https://www.nxtbook.com/nxtbooks/nrfe/STORES1113_buyersguide
https://www.nxtbook.com/nxtbooks/nrfe/STORES1113
https://www.nxtbook.com/nxtbooks/nrfe/STORES1013
https://www.nxtbook.com/nxtbooks/nrfe/STORES_mediakit2014
https://www.nxtbook.com/nxtbooks/nrfe/STORES0913
https://www.nxtbook.com/nxtbooks/nrfe/STORES0813
https://www.nxtbook.com/nxtbooks/nrfe/STORES0713
https://www.nxtbook.com/nxtbooks/nrfe/STORES0613
https://www.nxtbook.com/nxtbooks/nrfe/STORES0513
https://www.nxtbook.com/nxtbooks/nrfe/STORES0413
https://www.nxtbook.com/nxtbooks/nrfe/STORES0313
https://www.nxtbook.com/nxtbooks/nrfe/STORES0213
https://www.nxtbook.com/nxtbooks/nrfe/STORES2013_20130115
https://www.nxtbook.com/nxtbooks/nrfe/STORES2013_20130113
https://www.nxtbook.com/nxtbooks/nrfe/STORES2013_20130114
https://www.nxtbook.com/nxtbooks/nrfe/STORES2013_preview
https://www.nxtbook.com/nxtbooks/nrfe/STORES0113
https://www.nxtbook.com/nxtbooks/nrfe/STORES1212
https://www.nxtbook.com/nxtbooks/nrfe/STORES1112
https://www.nxtbook.com/nxtbooks/nrfe/STORES1012
https://www.nxtbook.com/nxtbooks/nrfe/STORES_mediakit2013
https://www.nxtbook.com/nxtbooks/nrfe/STORES0912
https://www.nxtbook.com/nxtbooks/nrfe/STORES0812
https://www.nxtbook.com/nxtbooks/nrfe/STORES0712
https://www.nxtbook.com/nxtbooks/nrfe/STORES0612
https://www.nxtbook.com/nxtbooks/nrfe/STORES0512
https://www.nxtbook.com/nxtbooks/nrfe/STORES0412
https://www.nxtbook.com/nxtbooks/nrfe/STORES0312
https://www.nxtbook.com/nxtbooks/nrfe/STORES0212
https://www.nxtbook.com/nxtbooks/nrfe/STORES2012_preview
https://www.nxtbook.com/nxtbooks/nrfe/STORES0112
https://www.nxtbook.com/nxtbooks/nrfe/STORES1211
https://www.nxtbook.com/nxtbooks/nrfe/STORES1111
https://www.nxtbook.com/nxtbooks/nrfe/STORES1011
https://www.nxtbook.com/nxtbooks/nrfe/STORES_mediakit2012
https://www.nxtbook.com/nxtbooks/nrfe/STORES0911
https://www.nxtbook.com/nxtbooks/nrfe/STORES0811
https://www.nxtbook.com/nxtbooks/nrfe/STORES0711
https://www.nxtbook.com/nxtbooks/nrfe/STORES0611
https://www.nxtbook.com/nxtbooks/nrfe/STORES0511
https://www.nxtbook.com/nxtbooks/nrfe/STORES0411
https://www.nxtbook.com/nxtbooks/nrfe/STORES0311_v2
https://www.nxtbook.com/nxtbooks/nrfe/STORES0311
https://www.nxtbook.com/nxtbooks/nrfe/STORES0211
https://www.nxtbook.com/nxtbooks/nrfe/STORES0111
https://www.nxtbook.com/nxtbooks/nrfe/stores1210
https://www.nxtbook.com/nxtbooks/nrfe/stores_mediakit2011
https://www.nxtbook.com/nxtbooks/nrfe/stores1110
https://www.nxtbook.com/nxtbooks/nrfe/stores1010
https://www.nxtbook.com/nxtbooks/nrfe/stores0910
https://www.nxtbook.com/nxtbooks/nrfe/stores0810
https://www.nxtbook.com/nxtbooks/nrfe/stores0710
https://www.nxtbook.com/nxtbooks/nrfe/stores0610
https://www.nxtbook.com/nxtbooks/nrfe/stores0510
https://www.nxtbook.com/nxtbooks/nrfe/stores0410
https://www.nxtbook.com/nxtbooks/nrfe/stores0310
https://www.nxtbook.com/nxtbooks/nrfe/stores0210
https://www.nxtbook.com/nxtbooks/nrfe/store_bigshow2010_post
https://www.nxtbook.com/nxtbooks/nrfe/stores_bigshow_20100112
https://www.nxtbook.com/nxtbooks/nrfe/stores_bigshow_20100111
https://www.nxtbook.com/nxtbooks/nrfe/stores_bigshow_20100110
https://www.nxtbook.com/nxtbooks/nrfe/stores0110
https://www.nxtbook.com/nxtbooks/nrfe/store_bigshowpreview2010
https://www.nxtbook.com/nxtbooks/nrfe/stores1209
https://www.nxtbook.com/nxtbooks/nrfe/stores1109
https://www.nxtbook.com/nxtbooks/nrfe/stores1009
https://www.nxtbook.com/nxtbooks/nrfe/stores0909
https://www.nxtbook.com/nxtbooks/nrfe/stores0809
https://www.nxtbook.com/nxtbooks/nrfe/stores0709
https://www.nxtbook.com/nxtbooks/nrfe/stores0609
https://www.nxtbook.com/nxtbooks/nrfe/stores0509
https://www.nxtbook.com/nxtbooks/nrfe/stores0409
https://www.nxtbook.com/nxtbooks/nrfe/stores0309
https://www.nxtbook.com/nxtbooks/nrfe/stores0209
https://www.nxtbook.com/nxtbooks/nrfe/stores0109
https://www.nxtbook.com/nxtbooks/nrfe/stores1208
https://www.nxtbook.com/nxtbooks/nrfe/stores1108
https://www.nxtbook.com/nxtbooks/nrfe/stores1008
https://www.nxtbook.com/nxtbooks/nrfe/stores0908
https://www.nxtbook.com/nxtbooks/nrfe/stores0808
https://www.nxtbook.com/nxtbooks/nrfe/stores0708
https://www.nxtbook.com/nxtbooks/nrfe/stores0608
https://www.nxtbook.com/nxtbooks/nrfe/stores0508
https://www.nxtbook.com/nxtbooks/nrfe/stores0408
https://www.nxtbook.com/nxtbooks/nrfe/stores0308
https://www.nxtbook.com/nxtbooks/nrfe/stores0208
https://www.nxtbook.com/nxtbooks/nrfe/stores-globalretail08
https://www.nxtbook.com/nxtbooks/nrfe/stores0108
https://www.nxtbook.com/nxtbooks/nrfe/stores1207
https://www.nxtbook.com/nxtbooks/nrfe/stores1107
https://www.nxtbook.com/nxtbooks/nrfe/stores1007
https://www.nxtbook.com/nxtbooks/nrfe/stores0907
https://www.nxtbook.com/nxtbooks/nrfe/stores0807
https://www.nxtbook.com/nxtbooks/nrfe/stores0707
https://www.nxtbook.com/nxtbooks/nrfe/stores0607
https://www.nxtbook.com/nxtbooks/nrfe/stores0507
https://www.nxtbook.com/nxtbooks/nrfe/stores0407
https://www.nxtbook.com/nxtbooks/nrfe/stores0307
https://www.nxtbook.com/nxtbooks/nrfe/stores0207
https://www.nxtbook.com/nxtbooks/nrfe/stores-globalretail07
https://www.nxtbook.com/nxtbooks/nrfe/stores0107
https://www.nxtbook.com/nxtbooks/nrfe/stores1206
https://www.nxtbook.com/nxtbooks/nrfe/stores1106
https://www.nxtbook.com/nxtbooks/nrfe/stores1006
https://www.nxtbook.com/nxtbooks/nrfe/stores0906
https://www.nxtbook.com/nxtbooks/nrfe/stores0806
https://www.nxtbook.com/nxtbooks/nrfe/stores0706
https://www.nxtbook.com/nxtbooks/nrfe/stores0606
https://www.nxtbook.com/nxtbooks/nrfe/stores0506
https://www.nxtbook.com/nxtbooks/nrfe/stores0406
https://www.nxtbook.com/nxtbooks/nrfe/stores0306
https://www.nxtbook.com/nxtbooks/nrfe/stores0206
https://www.nxtbook.com/nxtbooks/nrfe/stores0106-globalretail
https://www.nxtbook.com/nxtbooks/nrfe/stores0106
https://www.nxtbook.com/nxtbooks/nrfe/stores1205
https://www.nxtbook.com/nxtbooks/nrfe/stores1105
https://www.nxtbookmedia.com