Word-of-mouth marketing attracts more interest from retailers as highly informed and outspoken consumers decide to invest their money into goods that really matter to them. Proven method to boost your business' profitability, WOM is all about fueling conversations and driving passion so that your brand is on everybody's lips.
While retailers double their efforts in a bid to reach out to digital consumers, department stores seem to have ended up at a crossroads where they must choose between adjusting their offering to new shopping patterns or go out of business. Why exactly have department stores lost their charm?
Eight years ago, the financial crisis shook the world economies. It also changed consumers' spending patterns. Big spenders have been replaced by penny pinchers - the most unwelcome shift for retailers.
Over the last ten years, Global Data Synchronization (GDS) has evolved into a standard practice for businesses to share product data. GDS significantly improves the accuracy of product data, increases the speed to market for new products and reduces the costs in the supply chain. A worldwide expansion and product synchronization across regions is becoming more common. As proof to the widespread adoption, the use of GTINs (Global Trade Item Number) continues to expand and the Global Registry has reached 7 million.
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