Episode 03: 524 sq feet

In this episode:

  • Retailers aren’t texting enough
  • Wayfair getting into VR
  • Amazon selling cars?
  • Store closings help earnings


Retailers aren’t texting enough


  • According to the report – SMS was the least used marketing technology (29 percent), with email (97 percent), phone (66 percent), social media (82 percent) and mobile apps (32 percent) coming out on top.

Wayfair getting into VR


  • Wayfair launches its first VR application called Patio Playground.
  • Let’s customers browse the catalog and design their own landscape
  • Another way to boost customer experience, but this is limited to those that own an Oculus Rift – VR in general is still in the extreme early adopter stages

Amazon selling cars?


  • Can’t actually buy but can research and read reviews
  • Convenient, simple way to research price and style on new cars without the complexities of dealer or car manf websites
  • Amazon is collecting valuable data, once again

Store closings help earnings


  • Macy’s shares bounced 17% after announcing it would close 100 stores
  • Green Street Advisors did an analysis of how many store closings would need to take place in order for retailers to return to 2006 levels of sales per square foot
  • JC Penney would need to close 320 of its 1000 stores
  • Sears would need to close 300 of its 700 stores
  • Nordstrom, Dillard and Bon-ton would need to collectively shutter another 130 stores

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