Struggling Retailers: You Need To Watch This Webinar
Today is a sad day in the retail space, as JC Penney’s announced it will cut 360 jobs. This follows JC Penney’s January announcement to close its Milwaukee distribution center and cut another 670 jobs.
The company’s stock is now down 10 percent, due to a lack of demand for its products and strong online competition. The job cuts, it should be noted, are part of a massive restructuring and cost-reducing effort that the company hopes will save between $20 million and $25 million annually.
Where Retailers Are Going Wrong
Consider this, though:
According to the most recent data, in 2016 JC Penny invested $795 million in U.S. advertising compared to $824 million in 2015; $887 million in 2014; and $923 million in 2013.
Something is not adding up. Why is it that retailers like JC Penney’s are pumping hundreds of millions of dollars into their annual advertising budgets, yet they are struggling to make ends meet?
It’s a great example of how traditional advertising is not working anymore, and it’s time for a change.
How mCart Revolutionizes Retail
As Mavatar CEO Susan Akbarpour explained yesterday during a webinar titled “mCarts for Retailers,” the retail industry is currently struggling with a major lack of transparency and accountability. Companies are allocating a significant amount of capital into advertising, yet they’re being held back by phony marketing metrics and opaque and hidden layers of middlemen. This leads to wasted dollars, as well as misaligned and ineffective marketing campaigns.
At the same time, marketers are struggling to maximize returns from popular brand influencers who are connecting with online audiences in organic and meaningful ways.
“Influence marketing is really a big deal,” Akbarpour explained during the webinar. “81 percent of marketers want to find a way to drive engagement and awareness through influence marketing because people are really trusting these influencers more than traditional channels.”
In the webinar, Akbarpour explains how Mavatar’s blockchain-based, omnichannel shopping solution, the mCart, can help retailers improve advertising transparency, streamline influencer and affiliate marketing and generate stronger revenues from advertising.
To watch this can’t-miss webinar, and learn how you can turn your retail business around using mCarts, click here.
