Archive for 2010

Retail Bounces Back in Q1 & Customers Storm Stores Literally

As we near the end of Q1 is retail starting to bounce back?

Based on the video below, which was shot on opening day at a new H&M store, it looks like customers are bouncing back and storming the stores literally!


via:ScrapeUp

In a recent Bloomberg story, H&M’s CEO Karl-Johan Persson said the economy will be “a little better” this year and confirmed that Europe’s second-largest clothing retailer plans to open 240 stores in 2010. “2010 will be a challenging year for the economy and somewhat better than 2009,” The Swedish retailer, which sells ladies’ denim jackets for 14.95 euros ($20.32), continues to benefit from customers “trading down” during tough times, the executive said. Sales in January rose 11 percent.

Signs from other retailers such as Walmart, Kohl’s and Costco are positive, hinting at increases in sales in single digits in Q1. It looks like cost conscious customers are ready to open their pocket books and luxury retailers are treading water but not for much longer. We’ll see what the rest of 2010 brings. Until then watch out on your next H&M visit you might need to practice your rush and tackle techniques to get that shirt or pair of jeans you’re looking for!

What do you think will be the outlook for 2010 in retail? Will customers continue to search for stellar deals and continue to hold off on luxury goods? Or is 2010 the start of a rebound where customers will start opening up their pocket books again? We’d love t to hear your opinion on Twitter: @strandsrecs.

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Invite Your Friends!

Invite people to join Strands.com, and we’ll send you a free gift!

Successfully invite 15 of your friends, training partners, or teammates to join the Strands.com community between March 2nd and April 30th and we’ll send you a free technical running shirt.

An invitation is considered “successful” when the individual was invited through Strands profile and signs up using the link provided in the email invitation.

Get Started:

1.  Visit www.strands.com, click ‘Register Now” and set up your free profile.

2. From your Strands profile click on the official contest banner or click here.

3.  From the “Invite Overview” you can start Inviting people two different ways:

  • “Invite Contacts by email” (up to 5 emails at a time)
  • “Invite Address Book Contacts” (your entire address book from Gmail)

Check the status of your invitations in the “Invite Overview”. When youj’ve successfully invited 15 friends, we’ll send you an email request your t-shirt size and mailing address.

Terms and Conditions

You only qualify for one gift per user, regardless of the number of successful invitations you accumulate.

Your participation in the Strands “Fifteen Friends” promotion is subject to the Strands.com Terms of Use and the following additional terms.

Enter by sending Strands tell-a-friend emails to people you know, inviting them to check out and use Strands.  Anything you write in the body of the tell-a-friend email is user-generated Content as defined in the Terms of Use so please ensure that the Content is not illegal or offensive to the recipient.  If fifteen different people invited by you register for Strands, you are eligible to receive one Mizuno Strands Technical Running Shirt, with a retail value of $25.   Promotion begins March 2, 2010 and ends April 15, 2010.  All income taxes are the responsibility of the winner.  Strands reserves the right to cancel, terminate, modify or suspend the promotion if necessary for technical reasons including but not limited to any computer virus, malware, network attack, bug, tampering or other technical failure.  Employees and principals of Strands are not eligible to enter.  Strands will not be liable for typographical errors in these Rules or in other materials relating to the promotion.

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Strands Recommender + Miva Merchant = Easy Recommendations

We are excited to announce the Strands Recommender Miva Merchant Module. We have spoke with multiple Miva Merchants over the past month and have taken your feedback to create an easy to install module for all merchants.

This is an exciting time, as we are bringing recommendation technology that has been used by multichannel merchants directly to you at an affordable price of $49.99 per month for 50,000 recommendations.

Benefits

  • Helps Convert Organic Search Traffic
  • Increases Average Order Value & Sales
  • Boosts Repeat Visitors and Customer Loyalty
  • Decreases Time Spent Manually Merchandising Cross/Up-Sells

Start Your 30 Day Free Trial Now: Download The Strands Recommender Module via our website here.

What You Get With The Module

Personalized Product Recommendations:

In your Home, Product, Shopping Cart and Order Confirmation Pages.

Example of Product Page Personalized Recommendations

Easy To Use Dashboard:

Quick & Easy Install Wizard:

Our automatic wizard will ensure you are up and running in under an hour.

Boost Your Sales By Up To 15%.

Most merchants see a sales lift in the first 2-3 weeks. On average sales increases range from 5-15%. For a merchant making $80,000 a month that means an increase in sales of $2 – 10K per month for a cost effective price of $49.99 per month for 50,000 recommendations. We also have larger plans for bigger merchants.

Start Your 30 Day Free Trial Now: Download The Strands Recommender Module via our website here.

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We Love The Miva Mechant Conference: Win A Netbook

We’re very excited to be at the Miva Merchant Conference this year. There’s a great lineup of informative speakers and a great turnout of merchants. It’s encouraging to see vendors who are bringing enterprise level technology to the SMB marketplace.

We are excited to announce the Strands Recommender Miva Merchant Module. Our module allows merchants of any size to add personalized product recommendations to their home page, detail page, shopping cart and order confirmation. Stop by our booth to learn more or visit our site to get the module.

WIN A NETBOOK AT THE CONFERENCE:

Visit our booth at the Miva Merchant Conference, drop off your business card and you might win this Gateway LT2104u Netbook at the end of the conference. The Netbook giveaway is only good for Miva Merchants.

In case you can’t find our booth here’s what it looks like ;)

Follow Us On Twitter during the conference for industry tips, updates and news.


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Three Ways You Can Increase Customer Engagement & Build Community On Your Site

Building community is becoming more important today for eCommerce and Media sites. When you visit Facebook, you receive suggestions on friends you may have lost touch with or new friends in your area. On Lala.com you can connect with people who share similar interest’s in music. On location based rating/review sites such as 11870, Kedin.es and Yelp you can connect with similar people who share interests in restaurants, music and entertainment. On WetSeal.com you can share outfits with your friends and get suggestions on what to wear on a date.

You’re probably wondering how can I make my site more “social”, help keep visitors longer and buy more?

Wet Seal Helps You Build & Share Outfits With Others:

Facebook Now Helps You Find Friends Old And New:

Three Ways You Can Increase Engagement & Community:

1.) Update Content Frequently: In order to keep your customers engaged it’s important to keep products and content fresh. Meaning, new content should be released daily or multiple times per day. In our consumer culture with Twitter and new forms of media making real-time content easier, releasing new content helps keep your customers interested and also helps spur new conversations.

2.) Encourage User Generated Content (UGC):
Twitter, YouTube and other networks provide platforms for customers to create their own relevant content around your products, which is beneficial in two ways. It helps generate new content for your site with no cost to you and also it is a great way for your customers to interact with your brand and products boosting their brand loyalty. The only suggestion when using UGC is that you filter the content before using it. Every customer has a different world view, so filtering the content before it is published will save you some headaches.

User Generated Content on Folica.com

3.) Utilize Social Engagement Tools:
The content on your site is only as good as the quality of the community that interacts with it. A few tools that can help encourage interaction on your site include Rating & Reviews and Recommendations. Ratings & Reviews providers such as RateVoice, PowerReviews and Bazaarvoice all have affordable and creative solutions that allow customers to provide feedback about your products or services which spur conversations and keep customers on your site.

RateVoice Ratings & Conversations on Heels.com

Personalized product and content recommendations are a second engagement tool that helps bring your products/content and customers together into a community. This type of community recommendations utilize user-to-user collaborative filtering which is based on this idea of creating recommendations based on other users with similar profiles to yours. These profile’s consist of products and content that your customers have viewed, purchased and indicated they like explicitly “by telling you” or implicitly “by being learned by a recommender, i.e. you wear small and like levi’s”. The beauty of recommendation engines is that they anonymously learn from each customer, build a profile and deliver recommendations personalized to each customer automatically.

Recommendations can help your customers:

1. Find other people with similar tastes

2. Find similar things to those I like the most

3. Discover new things through other people.

All three of the above customer engagement hints should give your site a leg up on the competition. What other things have you found that help connect your customers? Tweet at us @strandsrecs.

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How Do Recommender Systems Deal With Changing Customer Preferences?

People’s tastes and desires are transient, ephemeral and even chaotic sometimes. Some people have well-defined tastes and they are guided by the trends, that most of society is following. Others take some ideas from their families, friends and the media (which is not necessarily the same that they will want tomorrow). This invariability in trend following results in a great deal of unpredictability. This variability and unpredictability of consumers brings headaches to recommender systems.

As most of you may or may not know: When delivering recommendations to customers different methods can be used.

On one hand we have personal recommendations, that is, those recommendations based on the user’s profile. Which are built from the user’s interaction history on the site and explicitly mentioned personal preferences. On the other hand we have collaborative filtering (CF) methods, which make recommendations based on the behavior of other users whose preferences are similar to those of the target user. However, these methods do not consider how the customers’ purchase behavior may vary over time.

Recommending for the Mainstream:

The mainstream audience of trendsetters and their followers mimic similar behaviors

Let’s use a customer who follows the fashion trends or certain patterns driven by the trendsetters. The behavior shown over successive visits to a site will be very similar to other people. The recommendations based on past behavior of these customers can work, but the recommender is not going to be able to react in time to a trend change if we rely only on this data. Only when one begins to search for items according to the latest fashion trends, will they start receiving new recommendations tailored to their preferences. The collaborative filtering, in a way, could anticipate that moment, because there’s always someone who has already begun to follow the new trend, and has already made purchases or have visited product pages that the target user will want soon. The store owner has an important role here too. A good recommendation engine is aware of emerging trends amongst products, and automatically adjusts business rules so that each person receives recommendations based on the new lines of products without having to wait for the users profile to “react” to the trends.

Outliers Can Put A Wrench In The Recommendation Equation:

What would you recommend for her?

However, recommender systems can sometimes fail for people whose tastes fall out of the mainstream, or have a very narrow or too wide range of tastes. Changing tastes and preferences are usually not sudden but morph over time. The recommendations for these users based on their profile and their interactions are inherently harder to create. In these cases current data should be given greater weight than historical data, focusing on the changing preferences of these users who follow their own way.

Collaborative filtering is more complicated. Because there is little correlation between these outsiders and the rest of the community and there is fewer users of that type lacking matches between them. This situation makes it difficult for the recommender to predict which will be the customers next preference. But these kinds of customers are not a hopeless case. The CF could work if the recommendation engine would only consider a few customers that may be similar to our target, and they are usually his/her friends. If the recommendation engine can automatically select smaller groups of people to learn from and to trust, they will receive more accurate recommendations that are tailored to their tastes and their possible evolution. This is what we call Not Anonymous Collaborative Filtering (NACF).

What’s Best? Both Methods or User Choice?

We usually receive different types of recommendations at the same site, depending on the location, based on different data sets or based on a mix of them. Some of them are going to work better for you, than others. The ideal case for both situations previously shown is that the user could choose what sort of recommendation they want, based on what other users bought, only showing related items, similar or complementary, not showing more one type of recommendation or only what my friends recommend me. This way, the customer can choose what to use and thus enhances both the learning of the recommender according to your changing preferences, and the results obtained by the user and the store.

Is this then a failure of the recommender? Should they satisfy everyone equally and there is a need to refine the algorithms for finding the right recommendations for everyone? or do we have to admit that it doesn’t always work? Would it improve if the recommendations based on smaller groups of users, and consistent with the customer? Or is the point that the customer’s should choose what kind of recommendation they wish to receive? Post a comment below or tweet at us on Twitter @strandsrecs.

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Show some Strands.com love!

Many people asked us for some Strands.com badges and I’m happy to announce that they are finally here. :)

Below you’ll find a selection of different badges, which you can easily place on your blogs, websites, or other online profiles to show that you, your races/events, or your groups are on Strands.

Just use the source code to easily integrate them. The only thing you need to do – depending on the badge – is to:

  • replace YOUR_USERNAME with your own username on Strands, then the badges will directly link to your Strands.com profile, or
  • replace YOUR_RACE with your race name on Strands, then the badges will directly link to your Strands.com race, or
  • replace YOUR_EVENT with your event name on Strands, then the badges will directly link to your Strands.com event, or
  • replace YOUR_GROUP with your group name on Strands, then the badges will directly link to your Strands.com group.

Remember, only one of the above steps needs to be taken per badge!

In case of any questions or problems, please feel free to email us at feedback@strands.com, send a Strands message to @Strands, or just send a tweet to @Strands.

Select a badge And just copy and paste the code
Don’t forget to change YOUR_USERNAME, or YOUR_RACE, or YOUR_EVENT, or YOUR_GROUP depending on where it should link to on Strands.com! :)
I am on Strands.com - Follow my training
<a href="http://www.strands.com/YOUR_USERNAME" target="_blank" title="I am on Strands.com – Follow my training"><img src="http://www.strands.com/images/badges/us_strands_badge_01.png" alt="I am on Strands.com – Follow my training" title="I am on Strands.com – Follow my training" border="0" /></a>
I am on Strands.com - Follow my training
<a href="http://www.strands.com/YOUR_USERNAME" target="_blank" title="I am on Strands.com – Follow my training"><img src="http://www.strands.com/images/badges/us_strands_badge_02.png" alt="I am on Strands.com – Follow my training" title="I am on Strands.com – Follow my training" border="0" /></a>
I am on Strands.com - Follow my training
<a href="http://www.strands.com/YOUR_USERNAME" target="_blank" title="I am on Strands.com – Follow my training"><img src="http://www.strands.com/images/badges/us_strands_badge_03.png" alt="I am on Strands.com – Follow my training" title="I am on Strands.com – Follow my training" border="0" /></a>
I am on Strands.com - Follow my training
<a href="http://www.strands.com/YOUR_USERNAME" target="_blank" title="I am on Strands.com – Follow my training"><img src="http://www.strands.com/images/badges/us_strands_badge_04.png" alt="I am on Strands.com – Follow my training" title="I am on Strands.com – Follow my training" border="0" /></a>
Find this race on Strands.com
<a href="http://www.strands.com/events/YOUR_RACE" target="_blank" title="Find this race on Strands.com"><img src="http://www.strands.com/images/badges/us_strands_badge_05.png" alt="Find this race on Strands.com" title="Find this race on Strands.com" border="0" /></a>
Find this event on Strands.com
<a href="http://www.strands.com/events/YOUR_EVENT" target="_blank" title="Find this event on Strands.com"><img src="http://www.strands.com/images/badges/us_strands_badge_06.png" alt="Find this event on Strands.com" title="Find this event on Strands.com" border="0" /></a>
Find this group on Strands.com
<a href="http://www.strands.com/groups/YOUR_GROUP" target="_blank" title="Find this group on Strands.com"><img src="http://www.strands.com/images/badges/us_strands_badge_07.png" alt="Find this group on Strands.com" title="Find this group on Strands.com" border="0" /></a>
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Strands on Flickr

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