This week we discuss visual commerce and the rabbit hole a single image can take a customer on.
The pictures you display on your store windows and website, and the quality of the content has a major impact on getting customers across the buying line.
Today’s Rundown
- Bed, Bath, and online only: everything you need to know about the return of BBB.
- Visual Commerce: The influence an image can have on your customers.
OUT NOW – Q2 2023 Benchmark Report: Click HERE to see how your store compares to the industry average.
Foot Traffic Recap
Bed, Bath, and online only
Bed Bath & Beyond’s website relaunched Tuesday under its new owner, Overstock.com, bringing life back to the iconic home goods retailer declared bankrupt earlier this year.
BBB filed for Chapter 11 protection in April after years of failed attempts to reboot its long-running home goods business. All remaining Bed Bath & Beyond physical stores were officially slated to close this weekend.
When asked why Overstock is adopting the Bed Bath & Beyond name, Johnson said: “People view Overstock as liquidation, which is what we were 25 years ago when we started, but that’s not what we’ve been for the past two decades.”
Click HERE to learn more about the newly revived company
Understanding Visual Commerce
Just as you would greet a customer at your physical store, you now need to greet your customers as soon as they enter your digital storefront by deploying effective visual commerce strategies.
The term “visual commerce” refers to the strategies and tactics around using pictures, videos, animations, and even augmented and virtual reality (AR and VR) to better engage and connect with consumers as they learn about your products and brand.
Which images you display on your website, and the quality of the content have a major impact on getting customers across the buying line.
84% of consumers say that they’ve been convinced to buy a product or service by watching a video. More recently, images and videos have even evolved further to be three-dimensional — and customers are twice as likely to purchase a product if it has a 3D product image rather than a flat image.
Click HERE to learn more about visual commerce strategies
Retail Snippets
Holiday prep: What’s working for — and against retailers heading into the holidays?
Return of Sketchers: Skechers logs record sales again in Q2 despite wholesale challenges.
Secure your store: Data breaches continue to cost retailers millions every year.
Random Irrelevance
Photos: The 2nd supermoon of the year illuminates the night sky around the world.
Light bulb ban: Prepare to flick off your incandescent bulbs for good under new US rules.
The Gap Vintage Craze: A collection sourced from Gap’s archives from the 1980s onwards and second-hand clothing stores.
