Retailers Focus On Testing In-Store Mobile POS And POP Solutions

Screen_Shot_2012-05-29_at_4.48.32_PM

Screen_Shot_2012-05-29_at_4.48.32_PM
Best-in-class retailers are recognizing the front- and back-end benefits of implementing mobile technology. From improving inventory and supply chain management efficiencies to maximizing the in-store customer experience, tablets and smartphones offer merchants an influx of information and resources. As a result, more retailers are testing and implementing mobile POS and point of payment (POP) solutions, according to a recent study from Motorola Solutions.

Currently, 23% of retailers have mobile POS or POP solutions deployed, according to the Motorola “Mobile POS Study.” However, results point to more rigorous pilots of smartphone and tablet solutions (11.3% of respondents), and retailers’ plans to begin testing within the next six to 12 months (13.5% and 11.7%, respectively).

Continue reading “Retailers Focus On Testing In-Store Mobile POS And POP Solutions”

Survey Says: 43% Of Consumers Prefer To Use Credit Cards

rtp_chart_of_the_week_payment

Retail TouchPoints recently conducted a social poll via Facebook and LinkedIn which indicated that most (43%) of consumers prefer to use their credit cards when shopping at their favorite retailer.

BIGinsight Analyst Randi Honkonen took the poll on LinkedIn and explained why she chooses to use her credit card rather than cash, a debit card or a smartphone. “I’m a big fan of my American Express card — I get points I can use like cash on Amazon. I rarely carry cash, and I prefer not to use my smartphone or debit card for security reasons.”

rtp_chart_of_the_week_payment

Continue reading “Survey Says: 43% Of Consumers Prefer To Use Credit Cards”

Social Media Analytics: The Core Of The ‘Me-Tailing’ Movement

social_media_analytics_cap


Part I of Retail TouchPoints’ multi-part feature exploring trends and developments in social media analytics, the business intelligence it provides, and real-life applications underway at Bonobos; Chico’s; Ice.com; Pacific Sunwear; Room & Board Home Furnishings; Walmart; and Warby Parker. This first installment reviews the importance of, and trends in, social media analytics, as observed by leading retail analysts. Subsequent installments, beginning with the June 5 newsletter, will cover social analytics solutions as well as current applications and their business value, based on input from several retail leaders.

social_media_analytics_capToday’s empowered shoppers want more personalized information and offers that appeal to their emotional needs. To that end, they are relying on social media to research and select personalized products and services. It’s the concept of “Me-Tailing:” the retail industry’s transition from transaction-based commerce to real-time, often one-to-one social network communications and marketing of brand experiences that satisfy consumers’ emotional wants and aspirations.

At the core of Me-Tailing is social media analytics. This process starts with raking blogs, forums, video posts, social media web sites (including visual curation) and other online communities for predetermined Key Performance Indicators (KPIs) revealed in these posts and conversations. Retail organizations analyze the data and use it to profile shoppers to better personalize future social campaigns. Measurable results reveal the business intelligence that will nourish the next best retail strategies for addressing consumers’ needs.

Continue reading “Social Media Analytics: The Core Of The ‘Me-Tailing’ Movement”

Is Traditional Retail Dying?

Euclid_Elements_CEO_Will_Smith

Euclid_Elements_CEO_Will_SmithAs CEO of a company that is working to level the playing field between online and physical retailers, I take special notice when established brands like Sears and Best Buy announce widespread store closings. Contrary to seemingly popular opinion, I don’t see announcements like these as proof that retail stores are dying. I believe, in fact, we are in a cultural and economic shift that will make physical retail stronger than ever — even as it forever changes how we discover, compare and purchase products.

There is no doubt that social and mobile technologies are profoundly changing consumers’ shopping habits and expectations, and the pace of this change is startling.  Even in our sluggish economy, online shopping in 2011 grew 15% over the previous year. Retail giant Amazon sold $1B through its m-commerce site and mobile applications in 2010, and that figure was forecast to double in 2011.

Continue reading “Is Traditional Retail Dying?”

Combat The Amazon Price Check App With Effective Multichannel Retailing

Steve_Kramer_img

Steve_Kramer_imgThe Amazon Price Check app was an inevitability for the industry — smartphones eliminate information asymmetries on pricing and do so while the customer is in the store at the moment of the purchase decision.  Fighting it won’t help, just like fighting digital downloading of music didn’t help the record labels.  If it wasn’t Amazon, it would have been another business, so retailers need to best Amazon’s price advantage by adding more value to the customers’ overall shopping experience. What retailers should know is that they have the advantage in this fight.

Continue reading “Combat The Amazon Price Check App With Effective Multichannel Retailing”

VisiStat Enables Social Media Monitoring To Optimize E-Commerce

visistat_Social_Media_screen_shot_3

visistat_Social_Media_screen_shot_3Progressive retailers are implementing strategies and tactics to develop a 360-degree view of their customers to present more valuable offers and optimize the shopping experience. Because customer-centric data has become more integral to the success of marketing initiatives, analyzing consumer sentiment, preferences and behaviors is critical. Social media analytics provides the granular customer information that enables retailers to optimize their messaging and marketing accordingly.

VisiStat 9 is an analytics tool aimed at helping retailers “connect the dots” of social channels by aggregating all activity from multiple social channels, including Facebook and Twitter. The solution also provides detailed information on how that activity translates to web site traffic and converts to sales, a key indicator of social media strategy success.

Continue reading “VisiStat Enables Social Media Monitoring To Optimize E-Commerce”

SAP Acquires Ariba, Adds B2B Cloud-Based Collaboration

SAP America, Inc., announced plans to acquire Ariba, Inc., a cloud-based business commerce network. The acquisition would add B2B collaboration to SAP’s existing solutions, thereby expanding growth opportunities and accelerating its momentum in the cloud. “Cloud-based collaboration is redefining business network innovation, and we are catching this wave in the early stage of its evolution,” said Bill McDermott and Jim Hageman, Co-CEOs at SAP, in a press release. “The addition of Ariba will deliver immediate value to our customers and provide another solid engine for driving SAP’s growth in the cloud.”

Continue reading “SAP Acquires Ariba, Adds B2B Cloud-Based Collaboration”