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Research Report Suggests Retailers Avoid Status Quo and Embrace Technology to Build Revenue for 2005 Season
Latest Retail Trends Report Now Available From G.A. Wright Marketing Highlights Timely Strategies for Retail Businesses
DENVER, CO -- (MARKET WIRE) -- 08/11/2005 -- Americans are expected to be more cautionary in spending their discretionary income throughout the 2005 holiday season, according to a report on Retail Trends 2005 recently released by G. A. Wright Marketing, Inc., a leader in retail and direct marketing based in Denver, Colorado.
"Although middle-income shoppers are expected to spend more carefully this year due to increases in energy, gas and healthcare costs, there is reason to be optimistic," says Gary Wright, CEO of G. A. Wright Marketing, who prepared the report. "The overall expectation for 2005 is an expected increase of more than 4%. The key is to know how to market wisely and efficiently in order to capture discretionary income and secure long-term customer loyalty."
Retail Trends 2005 includes sales forecasts and strategic recommendations for many retail sectors including women's, men's and children's apparel, footwear, jewelry, golf, hardware, gifts and collectibles, sports and more. It also contains 21 steps for making the most of the current retail landscape and gaining a competitive edge.
"Retailers that take a customer-driven approach to marketing can withstand the competition for dwindling discretionary income, and have a productive and profitable 2005," continues Wright.
The key to success for small retailers is to identify their best customers, potential niches to cater to, get to know what motivates customers and then interact as individually as possible. Retail Trends 2005 suggests that retailers creating personal experiences and communications are those most likely to come out ahead this holiday season. Personalizing the selling experience and marketing messages will help to level the playing field between small and larger retailers, according to Wright.
"Technology today puts personalized communications in the reach of every retailer, regardless of size," continues Wright. "With new database and digital press technology, small retailers can affordably engage in one-on-one communications which has been proven to significantly increase a customer's brand loyalty and lifetime value."
Wright encourages retailers to explore database programs and digital production opportunities that will merge customer data with promotional materials in order to produce personalized and highly relevant materials at a fraction of traditional printing costs. His report indicates that when you communicate with a known customer, you are five times more likely to generate a response and a sale. When you add customer-specific information to that correspondence, the potential increase jumps to 13. Research conducted by Romano and Broudy shows that personalized communications can increase response rates by as much as 500%.
To obtain a copy of retail trends, please contact Jeanette McMurtry at G. A. Wright Marketing, Inc., 303.333.4453, or email firstname.lastname@example.org.
About G. A. Wright Marketing, Inc.
G.A. Wright Marketing, Inc. is one of the leading direct marketing agencies in the U.S. providing a full-range of innovative direct marketing services for businesses in all areas of consumer and business-to-business marketing. Services include strategic planning, data analysis, creative development and production, database and program management, internet services, offset and digital printing, mail processing, and fulfillment. Founded in Denver, Colorado in 1987, G. A. Wright serves a wide range of clients in seven countries from global enterprises to start-ups enabling them to execute highly efficient and successful direct marketing strategies and campaigns. Founder and CEO Gary Wright is the author of numerous studies and reports on advertising and direct marketing and is a sought-after speaker for marketing and business events. For more information, visit www.gawright.com or call 303.333.4453.
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