Your information security, what to look for as Q2 begins, and more

Happy April. With the year ¼ of the way done (wow), we all want to enter Q2 with a spring in our step. As of last month, US retail forecasts are being revised down (according to NRF, 3.5% sales growth, slower than 2023), while direct selling forecasts are being revised up (see the News section). 

With so much change in the air, the following data and expert analyses will help us strut a bit more confidently into this season of rebirth and reimagination.

Latest News:

Rallyware announces its compliance with SOC 2 Type I data security standards. (PRWeb)

These are some of the most rigorous security standards in existence, and with information security such a critical aspect of business planning today, it’s important to know your tech provider has your back.   In essence, these standards ensure that, regardless of where the customer and their data are located, Rallyware will hold that data to the highest standard of security and privacy practices.

This achievement reaffirms Rallyware’s dedication to providing customers with a secure environment to conduct their business operations. 

Rallyware announces Rep Connect as the latest feature from its Myagi by Rallyware product. (PRWeb)

Brands have to stand out in a crowded marketplace and brand reps have to find a way to engage and train associates in a digitalized world. Rep Connect helps brands do both of these with ease and panache.

Let’s see what else is happening in the market:

Direct Selling

• Avon plans to revamp their 137-year-old brand for the next generation. (The Drum)

Today’s direct selling leaders have to update their brand for millennials, Gen Z, and the generations to come. Innovators aren’t missing a step.

• Beautycounter enters fragrance category. (Direct Selling News)

Beautycounter’s commitment to safe products marks an intriguing disruption of the fragrance industry, which often requires harmful chemicals.

• Q4 2023 propels optimism into 2024. (World of Direct Selling)

Direct selling forecasts were pretty pessimistic heading into 2024 – will Q4 2023 prompt analysts to change their tune?

Retail

• Visa and Mastercard agree to cap swipe fees. (New York Times)

This temporary cap on swipe fees could help return money to consumers’ wallets while providing retailers relief. It also adds transparency to credit purchases, but will it be enough? 

• Family Dollar to close nearly 1,000 locations. (New York Times)

While mid-tier and luxury retailers have seen some (halting) growth and success over the past two years, companies that service low-income shoppers have suffered as inflation has struck these individuals and their families especially hard.

• Zara owner to boost investment after sales grow. (Wall Street Journal) Fast-fashion is a site of intense competition, as companies like Zara and H&M battle with the Chinese giant SHEIN. Middle-income consumers are not turning away from this sector – quite the reverse.

Articles & Analyses:

How Keen Footwear Used Sales Enablement Tech to Drive Engagement and Brand Loyalty

• Keen is a major footwear brand, distributed globally.
• Today’s consumers want to know what they’re buying – and brands need to have a way to disseminate their brand identity.
• 65% of the associates from Keen’s retailer network engage with their content, distributed through sales enablement tech.
• They’ve achieved a 9.5/10 overall score for content quality, driving brand loyalty among associates – and end-customers.

Click here to view the full case study as a PDF, demonstrating how Keen use sales enablement tech to establish brand identity even where they don’t have direct control over associates.

How Sales Gamification Boosts Sales Performance for Distributors

• Direct selling is at a crossroads, as would-be distributors become gig workers, part-time workers, or freelancers.
• How can the industry appeal to entrepreneurially minded individuals in such an environment? 
• Sales gamification visualizes distributors’ progress for them, resulting in demonstrable gains in long-term engagement, with +81% higher retention.
• Personalized notifications strike the brain’s reward centers directly, with a 7.4x higher activity completion rate for users who opened smart notifications.

Top 6 Retail Brick-and-Mortar Operations Software for 2024

• 2024 is off to a strong start for in-store retail, with companies like Adidas and Canada Goose expanding their footprint, and holiday sales having surprisingly grown 3.8% YOY.
• Plus, says Deloitte, 3 in 4 customers say they are more loyal to stores with consistent customer service and experiences
• To outperform in 2024 and beyond, retailers need to have the right sales optimization and operations software for brick-and-mortar.
• Our list of the top 6 platforms includes Rallyware, Axonify, Zipline, and others, with highlights and ideal use cases for each.

Why Direct Sellers Without PEP Are Leaving Money on the Table

• According to recent data from Direct Selling News, only 40% of the Top 100 direct sellers achieved YoY growth in 2023.
• To counter slow growth, large direct sellers will again need to become bright, shining centers of opportunity and adaptive innovation.
• Performance Enablement Platforms offer high-tech tools to modernize the distributor experience, making this possible.
• These platforms have been shown (among other data points) to increase order size 3X on average.

If you need something smart to watch over lunch, check out this conversation with Hugh & Grace’s VP of Operations, Amanda Lorenz, about PEP tech and distributor rewards systems.

To learn more about how direct sellers can use technology to drive real-world distributor productivity and performance, register for Rallyware’s webinar, ‘Taking Distributor Enablement Beyond Learning with Beautycounter’s Adriana Ariga,’ taking place Weds. April 10 at 2:00pm EST.