ICBA Concentrates for 2014

ICBA Concentrates for 2014

At member request, the ICBA 2014 Conference will begin with arrival on Monday, and end with departure on Friday. This means for our Strategic Direction, Apparel, iTech, and Academic Resources Course, the program will be one day shorter (Marketing, and Supply programs already departed on Friday).

So how do we make the Conference one day shorter, and continue to deliver the strongest solution-oriented professional education in the industry? ICBA is bringing a renewed focus to our Conference design. We are going to let the value of the content drive how the programs are structured and delivered. We are aiming toward more intimate exchanges, greater flexibility, and setting aside the typical industry rules about timing. ICBA will continue to provide the formal and informal networking that members rate as the highest value. In fact, some programs will find expanded networking time built into the program. Ultimately we believe these changes will deliver more value and benefit to our members. And we are confident that you will let us know if you like it.

Because Apparel and iTech have the most substantial PRIMEtime venues, buyers have requested that their programs offer education and networking both before and after PRIMEtime. For 2014 we are excited to announce the launch of our new Apparel and iTech Symposiums.Scheduled for 4:30 to 6:00pm on Monday, the Symposiums will deliver formal presentations and discussions, coupled with informal chatting, mixing, and mingling - and, of course refreshments!



From Stacy Waymire, ICBA Executive Director

Cure your clammy hands

Whether it’s a casual elevator speech, new student orientation, discussion with a customer, or a formal presentation to Dean of Students, presentation skills are critical. Clammy hands, heart pounding, shaky voice; yes we all know that flustered panicked feeling that prevails before giving a presentation. Just in case you've forgotten what your college speech professor lectured about on proper presentation etiquette, here is your crash course to successful speeches

• Short and sweet. State your purpose with clear and concise points and support those points with valid and intriguing information. Keep your presentation from going too long and get straight to the point so that you don’t lose your audience in unnecessary information.
• Rehearse not record. Practice does make perfect but be sure to not make the rookie mistake of memorizing your speech and sounding like a recorded message. Rehearse enough so that you know what to say and how to illustrate your points. The objective is to talk naturally to your audience not rigidly talk at them.
  
• Break the ice. Hook your audience by opening with perhaps a (short) story or anecdote that directly relates to your topic. This is similar to writing technique used by journalists called a lead. Its purpose is to catch the reader’s interest and seamlessly lead them further into the story.
• Take a stance. Be mindful of your body language meaning no fiddling of hands, clothing, or shuffling of feet. Stand up straight and keep your audience engaged with consistent eye contact.
  
• Diamond in the rough. Polish up your presentation with compelling images or videos though internet is not always reliable. Overuse of added visuals can make your presentation look rushed and unprepared. Try and only use them when they best illustrate your point. And always be prepared in case of equipment failure.
• Perfect your poker face. It’s all in the attitude; even if you are nervous pretend that you are exceedingly confident ergo you inherently start to be confident. Never apologize for nervousness, be passionate about your speech, and always believe in the fact that your presentation will go better than you think it will.
• Make friends. If possible, converse with your audience before your presentation. It may help you relax as you get to know the very people you are going to be speaking to.
• Interact with your audience. Ask your audience questions: what are their opinions, thoughts, or feelings. Create an active discussion and answer all questions to the best of your ability.
  

Never forget that everybody gets nervous. Everybody. Those who say they don’t are expertly lying to themselves. Trust in yourself, your ideas, and your ever-dying will to succeed. Best of luck.

Want more? Check these out:
Practice makes perfect. Join a local Toastmasters International club
http://www.toastmasters.org/

12 Easy Steps for a perfect pitch
https://www.openforum.com/articles/12-easy-steps-to-a-perfect-pitch/?extlink=sm-openf-sb-promos

3 Techniques Bill Clinton Uses to WOW an Audience
 http://www.fastcompany.com/3001087/3-techniques-bill-clinton-uses-wow-audience?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+fastcompany%2Fheadlines+%28Fast+Company%29&goback=%2Egmr_3374868%2Egde_3374868_member_161851589

How to sell (for people who hate sales):
https://www.openforum.com/articles/how-to-sell-for-people-who-hate-sales/?extlink=of-syndication-sb-p

Posted by Sadja Pals, ICBA Marketing & Membership Manager

ICBA PRIMEtime Celebrates 10 Years

ICBA PRIMEtime redefined how business is done in the college industry. At ICBA 2014, February 3-6 in New Orleans, Louisiana, PRIMEtime will celebrate its 10th anniversary!

In 2005, after recognizing individually focused meetings as productive, profitable, and cost

effective for buyers and vendors, Independent College Bookstore Association introduced private one-to-one meetings to the college retail industry. PRIMEtime (Planned Retail Innovation and Marketing Exchange) is a series of pre-scheduled appointments between collegiate retail buyers and senior level vendor executives. These meetings provide valuable time for focused presentations and discussions of products and marketing opportunities, to set strategic directions, merchandising strategies, new lines, new items and promotional initiatives.

When buyers and vendors arrive at PRIMEtime, they find a markedly different atmosphere than at a typical tradeshow. PRIMEtime has a business-focused, upscale and exclusive feel. The proactive environment of PRIMEtime appointments helps breed creativity and innovation.

What our attendees have to say about PRIMEtime:
“ICBA PRIMEtime is the all-meeting event designed for buyer and vendor success. Over the past years, PRIMEtime has grown in popularity. Participant surveys indicate the all-meeting format is overwhelmingly preferred by both buyers and vendors.” —University of Missouri-Columbia

“Meeting vendors at ICBA PRIMEtime and seeing the new lines, colors and styles is a great way to begin the buying season! ICBA handles all the details and makes it very easy to attend. Their help with travel expenses enabled us to attend.” —Davidson College

“At PRIMEtime there was no wasted time! What a great way to see so much, so fast. The overview of what vendors have and what's new and different was an excellent education. By the time I was finished I had a pretty good mental image of what my selling floor will look like next fall.” —North Carolina Wesleyan College

“The best thing about PRIMEtime is the interaction between all involved. There is time to meet upper management vendors, as well as being introduced to companies, that in other tradeshow formats, you would probably just walk right by without giving a chance.” —University of Utah

Since the first PRIMEtime meetings in 2005, we have scheduled over 23,500 buyer-vendor

meetings. Owing to the success of PRIMEtime, ICBA has reimbursed member stores over $545,000 in registration and travel costs during this period. This has allowed more than 1,160 buyers and managers to attend at minimal expense and benefit from our annual Retail Conference which offers the strongest solution-oriented professional education in the industry.

At ICBA, we are committed to introducing new ways of doing business with a more personal and intimate approach that helps grow relationships and increase business for all who attend. The most important quest in business is to create and foster human connections. Creating high performance connections in today’s retail environment is critical to your success. PRIMEtime is an event that breeds innovation, interaction, discussion and efficiency.

We hope you will join us in New Orleans, February 3-6 for ICBA 2014. Registration for vendors will open in mid-June and for stores in late July.

For more information about ICBA PRIMEtime and the ICBA 2014 Retail Conference, please contact Marty Duncan, ICBA Program Manager at MartyDuncan@ICBAinc.com or 1-866-841-ICBA (4222).

Pop-up Retail Goes Digital

This new trend is the intersection of pop-up retail and the digital shopping wall.

Pop-up retail was first identified in 1999. Since then it has taken many forms.The concept involves a retail venue “popping-up” one day, then disappearing anywhere from one day to several weeks later. These shops, while small and temporary, can build up interest by consumer exposure. Pop-up retail allows a company to create a unique environment that engages their customers, as well as generates a feeling of relevance and interactivity. 

The digital shopping wall brings the convenience of online shopping to the offline world, in locations where the consumer already awaits. The shopping wall can be anywhere the consumer is - airports, subway stations, clubs, and even in a retail store. Shopping digitally in a retail store allows for endless inventory. Adidas for example used a shopping wall to showcase their 8,000+ shoe range. And with the aid of QR codes shopping can be done with mobile devices. The touch-screen portion of the wall can also include marketing content, availability and price. It can also pull in Twitter feeds related to the products being sold to show what customers are saying. Users simply scanned a QR code with their phone, and the product automatically lands in their online shopping cart. When the online purchase is complete the products will be delivered to the customer’s home.

Now, we see the introduction of temporary (movable) shopping walls from eBay. Shoppers will be able to touch the screens to order and have products delivered to them within an hour via courier. Payment will be accepted by the couriers through PayPal.

"This extends the boundary of the store. Suddenly the physical store, by virtue of online technology, extends to any space that's interesting to use," says Steve Yankovich, head of the company's Innovation and New Ventures group, which developed the technology.

"We would never be able to fit all those products in a store in the traditional way," says Fifth & Pacific Chief Executive William McComb. "These things would typically require an extra 10,000 square feet of store space. But through partnerships like this eBay one we could do this through stores that are 2,000 square feet."

At the same time this is representative of ecommerce companies moving into the offline retailing. Something that we will surely see more of soon.

From Stacy Waymire, ICBA Executive Director

Standing on Giants

Visiting Dilbert.com can help fire up your creativity too.

For those of you who are writers, artists, thespians or musicians outside of work, you know that creativity can sometimes be quite elusive to capture and incorporate. Coming up with new and fresh ideas can be an equally difficult task while running a business. These five tips take note from artists for sparking your creativity.

1. Visit file sharing sites. Pinterest, Tumblr, Facebook and other social media sites can not only be fun to look through, they can trigger ideas and show you what you might want to add to your store—products, displays, events, promotions—the ideas are limitless and free. Try searching “college” to find items that you hadn't thought of yet. You can narrow down your search according to what you are looking for, or go with the flow clicking from one topic to another.
2. Embrace mental tranquility. If you've been scratching your brain for hours trying to come up with new ideas or get beyond a “block”, it is unbelievably helpful to take a break and to come back to your thought process later. Step away and do anything you can to relax your mind: read a book, take a bath, flip through a magazine like Communication Arts or Mental Floss, meditate, exercise, or do some retail research (also known as “shopping”).
3. Check out the competition. Do a bit of retail research by visiting other businesses in the area and online. Scope them out to see what’s working for them and what isn't, see what’s missing that you could add, then adapt and apply it to your own store.
4. Look for inspiration. If you haven’t yet joined LinkedIn, you’re missing out. LinkedIn is a social networking site for businesses and a useful tool for igniting one’s imagination. You can connect with groups such as ICBA College Stores to dig for ideas, learn from others’ activities and challenges, and stay in-tune with your community. LinkedIn hosts a vast array of groups for you to explore, engage in and learn from.
5. If all else fails, use Google or Bing. Think of Google and Bing as cornucopias of the internet. With everything you need at your fingertips where can you go wrong? Search for sales items that will attract new customers or items to make your store more appealing. Think of the items that your customers would ordinarily have to go out of their way for that you could easily bring to your store, making it more accessible and a destination for your customers. Searching “images” is another sure way to trigger creative ideas for displays and those random and unique items.

Isaac Newton once wisely said “If I have seen further it is by standing on the shoulders of giants” so unleash your creativity by learning from others and using it to better your business. Looking at what others have done and using those ideas for your own business is fine, just make sure you take their great ideas and turn them into something that’s truly, uniquely your own. Your customers will love going to a store that feels like nothing they've been to before and this helps make your store stand out from the rest.
 
Looking for more creative tips? Here are a few articles and websites to visit:

• 30 Tips to Rejuvenate Your Creativity http://www.lifehack.org/articles/productivity/30-tips-to-rejuvenate-your-creativity.html
• Mental Floss http://mentalfloss.com/
• 4 Ways to Trigger Creative Ideas http://www.accidentalcreative.com/inspiration/4-ways-to-trigger-creative-ideas/
• How to Trigger Creativity http://voices.yahoo.com/how-trigger-creativity-275451.html
• How to Think Outside of the Box with 3 Creativity Exercises http://www.ehow.com/how_4819797_think-outside-box-creativity-exercises.html
• Five Deadly Myths About Creativity http://voices.yahoo.com/the-five-deadly-myths-creativity-2150470.html?cat=72

Posted by Sadja Pals, ICBA Marketing & Membership Manager

Putting the "H" in Hot
Top Selling Technology Products

The national retail channel has experienced a significant slowdown in the growth of technology product sales. The slowdown was noticeably evident in the brick-and-mortar retail channel — sales growth declined consistently through the spring and summer of 2012.

In contrast, online retail sales maintained the yearly growth rate showing a significant increase above last year. Of the following retailers— AT&T, Amazon,  Apple, Best Buy, Costco, Office Depot, Staples, Target, Verizon, Walmart —Amazon was the only one with 3 positive years of growth. The good news is you can still compete and win against all of these outlets.

No generation is more at ease with technology than today’s young people—“digital natives”, who have grown up immersed in a digital environment. 

Where notebook paper and pen may have formed the tool kit of prior generations, today’s students come to class armed with smart phones, laptops and iPads. 

The average merchandise mix of technology products in the ICBA member stores is approximately 20% of the store’s total sales. That is a significant share. The collegiate retail industry is full of challenges but also offers us plenty of opportunity. There are growth segments and niches in all areas of the collegiate marketplace.

Global PC shipments fell last year for the first time in 10 years, while shipments of smartphones and tablets continued to boom. Nationwide, Apple and Samsung are gaining market share in both smartphone (38%) and tablet computing (57%). Stores should tailor their product selection to capitalize on the growth in these segments.

Sales in the cellular accessories are very strong. Most of the volume is in protection/cases. As Apple iPhone and Samsung Galaxy introduce new models, make sure you have the latest accessories. Smartphone cases have become a true fashion item, with consumers purchasing more than one style for their phones.

Available at nuCourse Distribution, OtterBox (Defender Series and Commuter Series) and LifeProof are the leaders for all protective cases. Combined they make up over 42% of the total smartphone case sales in the US today. OtterBox is also available through D&H Distributing along with the Griffin Survivor Series Carrying Cases for iPhone.

As with smartphones, a majority of the sales dollar growth in tablet accessories is in cases. The Incase Book Jacket Select iPad 3/4 Black (MSRP $59.99) from The Douglas Stewart Company is a top seller this year. D&H Distributing reports that the OtterBox Defender Carrying Case for 10.1" tablet is also leading the category in sales.

Consumers say they are buying headphones at roughly the same frequency as they were last year – just under once every two years (every 22 months)*. John Koss, Jr., Vice President of Sales at Koss stated: “People use these products so much every day; there’s such a replacement business out there. And no one buys a single headphone for all uses anymore; they buy one for traveling, one for their workouts, one for gaming.”

Headphones are not just a $10-$30 retail product. Try selling higher end product and you will be amazed by the results.

D&H Distributing offers Sennheiser headphones, with the HD 25-SP II Stereo Headphone (MSRP $29.95), HD25-1 II Stereo Headphone (MSRP $249.95), PXC 250-II Headphone (MSRP$199.95) listed as best sellers for 2013. nuCourse best sellers include Klipsch Image ONE (MSRP $149.99) and Klipsch Image A5i Sport earbuds ($129.99). Douglas Stewart reports that Skullcandy Crusher Over-ear Headphones w/Mic Black (MRSP $99.99).

However, don’t forget to round out your assortment with opening price points. Skullcandy Ink'd Earbud w/Mic Black (MSRP $19.99) and Yurbuds Inspire Female Performance Fit Earbuds (MSRP $29.99) from Douglas Stewart and even the JVC Gumy Headphones (MSRP $9.99) from D&H Distributing are trending well in college stores.

Younger consumers (13-34 years old demographic) spend more on headphones, with a heavy focus on premium styles. Premium headphone ($100+) owners are more likely to own multiple pairs of headphones.* This group is your customer and is in your store daily.

Listening to music on a great pair of headphones is one of the more pleasurable experiences modern technology gives us. However, sometimes you want to let the music fill the room. Wireless speakers allow you to listen to your favorite tunes anywhere.

One area where it’s tough to get great sound out of a small package is in wireless audio speakers. However, the Braven 650 Bluetooth speaker (MSRP $169.99), available from both D&H Distributing and nuCourse, is a top seller and is becoming the new industry standard for Bluetooth audio. You may also want to try the Carbon Audio Zooka Bluetooth Speaker Red ($99.99) from Douglas Stewart.

Thirty-nine percent of expectant buyers plan to spend over $100 on their next wireless speaker purchase.** Make sure your assortment includes a wide selection of product in this price range.

As you can see, much of industry shift is determined by mobile device impacts, with smartphone and tablets leading the way in the development of new tech accessories. The amazing thing about this industry is that manufacturers are constantly bringing new products to market that provide new opportunities for retail growth.

Today, each consumer transaction is becoming more valuable. Find your niche among your student, faculty and staff customers. These vendor partners can be a great resource for your store. ICBA works with them to use their industry and product knowledge and company resources to develop programs and product assortments that will directly benefit your store. 

*Source: The NPD Group / Headphones: Ownership & Application Study, 2012 Update
**Source: The NPD Group / Audio Consumption Study, October 2012.

Written by Marty Duncan, ICBA Program Manager

Customer Loyalty

"Getting tired of hearing about Big Data and am ready for Big Insights."

- Justin Honaman, Director of Customer Intelligence, Coca Cola

Customer loyalty is a complex topic and POS and e-commerce systems often provide the data and not the insights. Customer data keeps growing with the sophistication of point-of-service, transactional data, and in e-commerce customer tracks within the website. But insights are not growing as fast. Then the task of converting insights back into analytic driven software is where third parties often enter.

Many stores overlook that emotional engagement is the dominant driver of purchase decisions and brand loyalty rather than price promotions, discounting, social networking, Internet marketing and similar efforts.

"…and if you look at what drives consumer emotional engagement in a category, it’s clear that the rational stuff is but table-stakes. If you don’t have a handle on the emotional side of the purchase and engagement process, you might as well spend your marketing budget on coupons and promotions.”

- Robert Passikoff, President of Brand Keys

Recently I read two pieces on customer loyalty that I want to share because I think each, in its own way, provides college stores with new understandings about possible future actions and investment toward customer intimacy.

First is this one by Kristine Jacobs, VP Customer Success at 500friends

This is a good guide to strategy and tactics, the why and how of actions identified to produce results. It is available for free, if you consider giving your contact information to a marketing company free.

Second is The Power of Emotional Connections by Joe Skorupa at RIS.  As Joe notes, "The customer has the power to control the shopping experience today, but the retailer has the power to control the data."

And I will end with this from the 17th annual 2013Brand Keys Customer Loyalty Engagement Index®:

Brands with highest levels of consumer engagement in their respective categories, based on emotional engagement strength achieved versus a consumer-generated, category-specific Ideal, calculated to be 100 percent:

· Airline: US Airways (85 percent)

· Athletic Footwear: Sketchers (86 percent)

· Automotive: Ford/Hyundai (93 percent)

· Bank: JP Morgan Chase (79 percent)

· Beer (Light): Coors Light (89 percent)

· Beer (Regular): Coors/Sam Adams (90 percent)

· Breakfast Cereal: Cheerios (91 percent)

· Car Insurance: State Farm (82 percent)

· Car Rental: Avis (92 percent)

· Casual Dining: Applebee’s (82 percent)

· Coffee; Dunkin’ Donuts (90 percent)

· Computer (Laptops): Samsung (91 percent)

· Cosmetics (Luxury): Clinique (93 percent)

· Credit Card; Discover (94 percent)

· Diapers: Pampers (95 percent)

· E-Readers: Kindle (92 percent)

· Evening News Shows: ABC (97 percent)

· Flat Screen TV: Samsung (88 percent)

· Gasoline: Shell (89 percent)

· Hotel (Luxury); Inter-Continental (82 percent)

· Hotel (Upscale): Hilton/Marriott (81 percent)

· Hotel (Midscale): Best Western (86 percent)

· Hotel (Economy): Days Inn (88 percent)

· Insurance: New York Life (81 percent)

· Major League Gaming: Call of Duty – Modern Warfare (93 percent)

· Major League Sports: National Football League (86 percent)

· MFP Office Copier: Canon/Konica Minolta (81 percent)

· Morning News Show: Good Morning, America (ABC) (94 percent)

· Mutual Funds: American Funds (79 percent)

· Natural Food Stores: Whole Foods (93 percent)

· Online Brokerage: Fidelity.com (85 percent)

· Online Retailers: Amazon (96 percent)

· Online Travel Sites: Expedia (88 percent)

· Packaged Coffee: Dunkin’ (95 percent)

· Parcel Delivery: UPS (87 percent)

· Pet Food (Canned) for Cats: Fancy Feast (93 percent)

· Pet Food (Canned) for Dogs: Cesar (94 percent)

· Pizza: Domino’s (84 percent)

· Printers: Canon (88 percent)

· Quick-Serve Restaurants: Subway (95 percent)

· Retail Store (Apparel): J. Crew (82 percent)

· Retail Store (Department): Kohl’s (80 percent)

· Retail Store (Discount): Walmart (89 percent)

· Retail Store (Home Improvement): Home Depot (90 percent)

· Retail Store (Sporting/Recreational Goods): Dick’s (83 percent)

· Search Engine: Google (85 percent)

· Smartphones: Samsung (87 percent)

· Social Networking Sites: Facebook (88 percent)

· Soft Drinks (Diet): Diet Coke (89 percent)

· Soft Drink (Regular): Coke (90 percent)

· Tablets: Amazon (92 percent)

· Toothpaste: Colgate (94 percent)

· Vodka: Grey Goose (91 percent)

· Wireless Phone Service: AT&T (87 percent)

From Stacy Waymire, ICBA Executive Director