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News and Events

  •  RMI Director Appointed to Overstock.com Board of Directors

    Wednesday, Feb. 11, 2015
    The Overstock.com, Inc. (Nasdaq:OSTK) board of directors appointed Kirthi Kalyanam, Ph.D., as a member of the board with his term beginning on Feb. 5 and running through the company's annual meeting of stockholders in 2016.
  •  RMI's Director on Bloomberg News

    Wednesday, Sep. 24, 2014
  •  RMI's Director Speaks to KGO Radio

    Friday, Aug. 29, 2014
  •  RMI Hack-a-thon Video

    Monday, Jun. 30, 2014
    Watch the Hack-a-thon Video
  •  RMI In the News!

    Monday, Jun. 16, 2014
  •  RMI In the News!

    Friday, May. 9, 2014
    RMI's Director, Kirthi Kalyanam speaks on the Target cyber security breach and the real reason Target's CEO left the company.
  •  RampUp 2014: From the CEO: The Future of Data in Marketing

    Wednesday, Mar. 12, 2014
  •  RMI In the News

    Monday, Mar. 10, 2014
  •  Kalyanam CBS Bay Area Interview

    Monday, Feb. 3, 2014
    Kalyanam CBS Bay Area Interview
  •  Proof That Online Search Ads Can Boost Offline Store Sales by RMI's Director, Dr. Kirthi Kalyanam

    Monday, Jan. 13, 2014
    Can online search ads impact offline store sales? The connection seems counterintuitive, but the answer is a firm "yes." Get the full story.
  •  RMI Alums! Orchard Supply Hardware is looking for a Visual Merchant!

    Monday, Jan. 13, 2014
    Orchard Supply Hardware Logo
    Orchard Supply Hardware (OSH) is a leading regional home improvement retailer operating more than 70 full-service hardware and garden stores located throughout California and Oregon. Orchard stores offer a comprehensive selection of hardware, lawn and garden, and specialty products.
  •  Outlook for Holiday Shopping 2013!

    Monday, Dec. 2, 2013
    Get RMI's Exec. Director, Dale Achabal and Director, Kirthi Kalyanam's perspective on the hot holiday topic.
  •  Attention RMI Alums!

    Tuesday, Nov. 26, 2013
    Charlotte Russe Is Looking for a Pricing Coordinator!
  •  Alums! Stella & Dot is looking for an Inventory Accountant!

    Friday, Nov. 1, 2013
    Have an eye for fashion? Team Leader driven by success? If ‘mediocrity’ and ‘just good enough’ make you cringe, if you are a brilliant, energetic, organized, creative, self-motivated and ready to take charge in a key role at an innovative company with an entrepreneurial spirit this could be the job for you.
  •  Event: The Ethics of Online Price Discrimination

    Wednesday, Oct. 23, 2013
  •  MOSEY is Looking for a Sr. Application Architect/Backend Developer!

    Wednesday, Oct. 16, 2013
    Mosey is an online + mobile ecosystem of user-generated micro-guides. Think of it as a digital platform for friends, influencers and brands to build the perfect 4 hours—like The New York Times 36 Hours, but more digestible and in a socially connected space of following, sharing and experiencing.
  •  Stella & Dot is looking for TWO Inventory Planners!

    Wednesday, Oct. 16, 2013
    Join a world-class, hyper growth company with a seasoned executive team. Stella & Dot, one of INC 500’s fastest growing companies (rank 67) is a dynamic boutique style jewelry company with unlimited opportunity.
  •  Stella & Dot is looking for TWO Inventory Planning Analysts!

    Wednesday, Oct. 16, 2013
    Join a world-class, hyper growth company with a seasoned executive team. Stella & Dot, one of INC 500’s fastest growing companies (rank 67) is a dynamic boutique style jewelry company with unlimited opportunity.
  •  Shop. org Annual Summit 2013

    Monday, Jul. 8, 2013
    The Shop.org Annual Summit Student Program Agenda is here!
  •  Retailing of Tomorrow

    Monday, Jul. 8, 2013
  •  The Fit Club: How Service Solves the Sizing Problem

    Thursday, Apr. 25, 2013
  •  Is Google the new Apple?

    Monday, Feb. 25, 2013
  •  Fall 2012 Newsletter

    Friday, Feb. 8, 2013
  •  G. Hensler has two job openings!

    Monday, Jan. 7, 2013
    Attention RMI Alums and Seniors! G Hensler has two current job openings! One for an Account Manager and one for a Production Assistant.
  •  CBS Bay Area Interviews RMI Director, Kirthi Kalyanam!

    Wednesday, Dec. 5, 2012
    Dr. Kalyanam discusses JC Penny, the retailer's one and only sale of the year and how their "every day low prices" philosophy affects consumers.
  •  RSSA President Awarded the Ray M. Greenly Scholarship

    Friday, Nov. 30, 2012
    Alyssa Tomasello '13, RSSA President, was awarded the R M. Greenly Scholarship!
  •  CCTV Interviews RMI Executive Director, Dale Achabal!

    Friday, Nov. 30, 2012
  •  RMI Directors in the News this Holiday Season!

    Friday, Nov. 30, 2012
    Retail Management Institute executive director Dale Achabal and director Kirthi Kalyanam were in heavy demand by local, regional, national and even international media outlets for their insights into Black Friday.
  •  Macys.com President joins RMI Advisory Board

    Friday, Aug. 3, 2012
    The Retail Management Institute welcomes Kent Anderson as the newest Advisory Board member.
  •  Retail Studies students awarded the Jill Curran Scholarship

    Friday, Jul. 27, 2012
    Four Retail Studies students receive the 2013 Jill Curran Retail Studies Endowed Scholarship New York Trip.
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News and Events

News and announcements from the Retail Management Institute.

  •  RMI Director Appointed to Overstock.com Board of Directors

    Wednesday, Feb. 11, 2015

     

    Press Release

    Dr. Kirthi Kalyanam Appointed to Overstock.com Board of Directors
    Company Also Announces Management Changes

    SALT LAKE CITY, Feb. 9, 2015 (GLOBE NEWSWIRE) -- The Overstock.com, Inc. (Nasdaq:OSTK) board of directors appointed Kirthi Kalyanam, Ph.D., as a member of the board with his term beginning on Feb. 5 and running through the company's annual meeting of stockholders in 2016.

    "We've talked for years about utilizing Kirthi's expertise as a member of our board," said Overstock.com Chairman Jonathan Johnson. "The day has finally come. He's a great addition since he is a renowned expert in retailing and has comprehensive knowledge in key areas of our business."

    Dr. Kalyanam is currently the J.C. Penney research professor and director of the Retail Management Institute at the Leavey School of Business at Santa Clara University. He has served as faculty director of the Executive MBA program, a visiting professor at the Graduate School of Business at Stanford University, a guest faculty in the Stanford Executive MMP program, and senior vice president and chief marketing officer of SpinCircuit Inc., a provider of supply chain integration services to the electronics industry. He received his Ph.D. from the Krannert School of Management at Purdue University.

    Dr. Kalyanam's research and expertise are in retailing, Internet and multi-channel marketing, quantitative marketing and the intersection of these areas.

    In addition to appointing a new board member, the company has named Carter Lee senior vice president of technology, where he will oversee the strategic direction and operational effectiveness of the technical teams.

    In his previous role as vice president, Lee managed the technology for many of Overstock.com's critical systems and website as well as projects relating to the company's facilities. Lee has been with the company for 14 years and replaces outgoing senior vice president of technology,Bhargav Shah.

    Saum Noursalehi will transition from senior vice president of marketing to senior vice president of product development, where he will be responsible for the management of customer, partner and internal facing systems. Overstock.com president Stormy Simon will handle marketing operations.

    "Carter's innovative spirit makes him a valuable addition to the senior executive team," said Overstock.com President Stormy Simon. "And Saum's first love has always been innovation. Now that Saum has completed implementing the critical processes in marketing, it's time for him to work closely with Carter to help move the company forward that much faster."

    About Overstock.com

    Overstock.com, Inc. (Nasdaq:OSTK) is an online shopping retailer based in Salt Lake City, Utah that sells a broad range of products at low prices including furniture, rugs, bedding, electronics, clothing, and jewelry. Worldstock.com, is a fair trade department dedicated to selling artisan-crafted products from around the world whereas Main Street Revolution supports small businesses across the U.S. by providing them a national customer base. Overstock has additional community-focused initiatives such as a Farmers Market and pet adoption service. Forbes ranked Overstock in its list of the Top 100 Most Trustworthy Companies in 2014. Overstock sells internationally under the name O.co.  Overstock Shopping (http://www.overstock.com and http://www.o.co) regularly posts information about the company and other related matters under Investor Relations on its website.

    O, Overstock.com, O.com, O.co, Club O, Main Street Revolution, Worldstock Fair Trade, Worldstock, and OVillage are registered trademarks. O.biz, Club O Dollars,and OGlobal are trademarks of Overstock.com, Inc. The Overstock.com, Club O, and Worldstock Fair Trade logos are also registered trademarks of Overstock.com, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.

    This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, statements other than statements of historical fact. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company's Form 10-Q for the quarter ended Sept. 30, 2014, which was filed with the SEC on Oct. 28, 2014, and any subsequent filings with the SEC.

  •  RMI's Director on Bloomberg News

    Wednesday, Sep. 24, 2014

    Kirthi Kalyanam speaks to Bloomberg News regarding Alibaba and the company's rise to the top, surpassing Amazon.com, as the global eCommerce leader.

     

  •  RMI's Director Speaks to KGO Radio

    Friday, Aug. 29, 2014

    Dr. Kirthi Kalyanam spoke to KGO radio about Target's declining market position.

  •  RMI Hack-a-thon Video

    Monday, Jun. 30, 2014

    Check out the Retail Management Institute's 2014 Hack-a-thon Video>>

    Watch the Hack-a-thon Video
  •  RMI In the News!

    Monday, Jun. 16, 2014

    Kirthi Kalyanam, J.C. Penney Research Professor and Director, Retail Management Institute of Santa Clara University speaks on Tesla and how the company is 'channeling the king of the automobile industry'.

  •  RMI In the News!

    Friday, May. 9, 2014
  •  RampUp 2014: From the CEO: The Future of Data in Marketing

    Wednesday, Mar. 12, 2014

    Kirthi Kalyanam, J.C. Penney Research Professor and Director, Retail Management Institute of Santa Clara University and Pat Connolly of Williams-Sonoma chatted about Connolly’s experience as a retail CMO and the importance of data in marketing

  •  RMI In the News

    Monday, Mar. 10, 2014

    Women in Business: Chantel Waterbury RMI'97 Interviewed by the Huffington Post regarding her company, Chloe + Isabel.

     

     

     

  •  Kalyanam CBS Bay Area Interview

    Monday, Feb. 3, 2014

    Watch the Kirthi Kalyanam (Director, RMI) interview featured on CBS.

    Kalyanam CBS Bay Area Interview
  •  Proof That Online Search Ads Can Boost Offline Store Sales by RMI's Director, Dr. Kirthi Kalyanam

    Monday, Jan. 13, 2014

     

    Can online search ads impact offline store sales? The connection seems counterintuitive, but the answer is a firm "yes." A milestone meta-analysis of experiments with 13 top U.S. retailers, conducted by Applied Predictive Technologies, proves that search ads drive incremental offline sales. Results vary by industry and advertiser, but the research offers guidance for multi-channel retailers: Create a seamless connection between your channels and use digital to efficiently drive sales across the board.

     

    Retailers have long relied on search advertising to increase online sales. It’s an obvious part of the online shopping process, as a search ad is only a few clicks away from an easy purchase, for both buyer and seller.

    What’s not so obvious is the impact online search ads have on offline sales in brick-and-mortar locations. Multi-channel retailers use a variety of traditional and digital channels to connect with consumers, and it can be difficult to see if and how their digital marketing investments translate to in-store activity and sales. Yet, it’s an important question, and the answer could determine how marketing dollars are allocated and measured.

    But let’s step back for a moment. The reality is that almost all retailers intuitively know that people shop digitally before going into the store, and shopping trends support that intuition. As many as 88% of consumers are researching items online and then buying in a physical store, according to Accenture.1 And this increasingly digital consumer behavior is having a growing impact on retail. A recent study by Forrester estimates more than 50% of U.S. offline retail sales will be influenced by the web by 2017; and in this same period, those web-influenced in-store sales will rise to $1.8 trillion (from $1.2 trillion last year).2

    These trends show a clear link between online researching and offline purchasing, which should be encouraging to digital marketers and multi-channel retailers. But even so, marketers are looking for direct, causal evidence that search ads directly impact offline sales. And now they’ll have it.

    Between 2008 and 2011, Applied Predictive Technologies, an independent third-party firm specializing in matched-market testing and research, conducted a series of search advertising and retail studies with 13 major Google advertisers. These participating brands are top, household-name retailers, with more than 1,000 U.S. stores each, on average. They represent a variety of staple categories, including apparel, baby products, electronics, toys, cosmetics, sporting goods, furniture, pet food, and home improvement.

    These retailers participated in 15 real-world experiments in the U.S. to measure how their online desktop search spend impacted their in-store sales. In these geo-based experiments, retailers increased their search spend in test markets, while holding constant their regular search spend in comparable control markets, and resulting in-store sales were measured.

    I took the findings from those 15 experiments and examined them in a comprehensive meta-analysis, and here’s what I found.

    Search ads show clear impact on in-store sales and ROAS

    Woody Allen famously said, “80% of success is showing up.” This couldn’t be more true as it applies to search advertising and store sales. Investing in search ads, even at a modest level, increased incremental offline store sales by an average of 1.46% (see fig. 1). Since the compound annual growth rate for the retail industry was 1.55%3 for the period of the study, being able to attribute a 1.46% increase to online search campaigns is significant.


    Figure 1.

    The sales return on search ad spend was significant as well — between two and 14x, according to the meta-analysis (see fig. 2). For example, one participating retailer invested $466K in search ads over a six-week period and saw an in-store sales increase of $5.6 million.


    Figure 2.

    Advertisers not only saw an increase in in-store sales, they also experienced an increase in category level sales, with test categories seeing an average sales lift of 5.8%. Each retailer chose specific categories to test, and heavied up its spending on key category terms (for example, flooring or flat-screen TVs). Sales lift per category ranged from 1.5% to as high as 16.9%.


    Figure 3.

    These are significant findings for digital marketers and multi-channel retailers. How best to take advantage of them?

    Play to your strengths

    Unlike pure-play competitors, multi-channel retailers can connect with consumers in both the physical and digital worlds. Create a seamless cross-channel experience that puts online search advertising to work driving in-store and online purchases. It’s also important to note that the experiments I looked at were only testing online desktop search. We can expect the impact of search ads on offline sales to likely increase substantially if we account for constantly connected consumers, and the mobile search opportunities they bring with them when they shop.

    In closing, we already knew that investing in search ads is a proven way to boost digital purchases. But if the effectiveness of digital ads is only being tracked through online sales, multi-channel retailers are likely missing a piece of their ROAS.

    And that’s important to correct. This study demonstrates that the impact of search ads on offline sales should be accounted for in your attribution models for media spend allocation. While results will certainly vary based on industry and specific methodologies used, retailers who understand the full value of search in driving both online and offline sales can make smarter spending decisions, know which channels to invest in, and realize bigger returns on that investment.



    Methodology 
    Kirthi Kalyanam, Professor of Marketing and Director of the Retail Management Institute at Santa Clara University, conducted a meta-analysis of 15 field experiments performed by Applied Predictive Technologies with Google advertisers to gauge the success of online desktop search ads on in-store sales.

    The experiments on which the meta-analysis is based were conducted between August 2008 to November 2011 in the United States, with 13 retail brands participating. The retailers, whose names were hidden, had an average of 1,115 stores across the United States, and nine of the retail brands are in the National Retail Federation’s Top 100 list.

    The average number of test markets for each experiment was 29, while the average number of test stores was 157. Search spend was increased in test markets and held constant at normal levels for comparable control markets. Retailers spent an average incremental $287,031 on search ad budget per experiment. Total spend for each experiment exceeded $5 million. The testing period for each experiment lasted an average of four weeks. The average number of categories featured in each test was four, but 54 unique category types were tested overall.



    SOURCES
    [1] Accenture, Accenture Seamless Retail Study, April 2013
    [2] Forrester Research, Online Retail Forecast 2012 to 2017, February 2013
    [3] NRF Retail Insight Center, Annual Retail Sales, September 2013
    • Kirthi Kalyanam, Ph.D.Kirthi Kalyanam, Ph.D.

      Professor of Marketing and Director, Retail Management Institute, Santa Clara University

    http://www.google.com/think/articles/proof-online-ads-increase-offline-sales.html

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