Retailers not only need a strategy, but a means to continually evaluate, test, and refine their omni-channel experience across all channels. Here are the five key areas in which they can improve the omni-channel experience.
Retail is undergoing a major sea change as retailers reshape the shopping experience. As consumers become more demanding thanks to the conveniences of online shopping, savvy retailers are making strides to replicate – or even surpass that experience – at physical locations. Retailers who make customer-centric decisions, investing in stores, technology, fulfillment and customer service teams will stand to profit.
With the beginning of 2019, we have witnessed many interesting technologies that are going to shape the methodology systems are designed in this year.
Here are the top three trends happening in retail this year and our predictions for what’s going to be big next year.
Coach has recently announced that the company will no longer be selling fur products for ethical reasons. The decision came after similar announcements from other fashion retail competitors such as Gucci, DKNY, Versace, Burberry and Columbia Sportswear. The decision to drop fur, or any other category/sub-category of product, isn’t an easy one for retailers, especially those in high-end fashion retailing. It means asking a lot of questions to understand what would happen and what the implications could mean for the business. Questions that involve the kind of data that people can’t process without the right tools and solutions. Generally speaking, we know that there are two main routes dropping fur could go for a fashion retailer:
Online shopping can actually be quite stressful but leveraging a chatbot with strong functionalities can relieve shoppers of these stresses and make shopping productive, timely, and enjoyable once more.
For retailers, it is imperative to take a customer-centric viewpoint on the business. Current disparate systems, processes and organization must be transformed into one cohesive environment with the ability to offer customers a seamless shopping environment across all channels and the capability to deliver merchandise immediately – wherever it is needed. It is time to prepare for the future of retail – it is here – whether we are ready or not.
We are in the midst of a retail transformation. Consumer behavior and mobile technology have dramatically changed the traditional retail model and it’s not over yet. As upstart online retailers mature, their desire to connect to their customers in a more personal manner is evolving. However, the old adage of right product, right place, and right time is truer now than ever before. As a result, retailers are gathering more data that is being leveraged by financial plans, demand plans, assortment plans, and store plans. The importance of a fully integrated planning solution to analyze and utilize this data is key to ensuring retailers remain competitive in this rapidly changing landscape. An integrated planning solution eliminates silos, leverages the same data, streamlines decisions, and builds consensus.
Consumers worldwide continue to adopt and use technology in their shopping experience. Faced with rising customer expectations and increasing competitive pressures, retailers now are prioritizing in-store innovation. Many retailers have adopted multichannel implementations, in which mobile, web, and in-store shopping are enabled but not delivered consistently to the customer.
Competition is growing fierce for restaurants — and not all of it comes from other local dining establishments. With grocery stores and meal kit services offering additional convenient and affordable dining options for customers to choose from, and with many restaurants turning to faster and smarter automation methods to power their operations, now is the time for your restaurant to step up its game.
Datalogic is a global technology leader in the automatic data capture and process automation markets, specialized in the designing and production of bar code readers, mobile computers, sensors for detection, measurement and safety, vision and laser marking systems.
Retalon is a leading provider of Retail Predictive Analytics solutions for Retailers. Retalon is a transformational approach to the retail industry. From inception, our solutions were built on an integrated analytic platform that takes into account the entire retail business process which produces the highest accuracy possible. Our predictive analytics technology empowered retail businesses with advanced analytics that uncover hidden opportunities, and significantly increase bottom and top lines.
Founded in 1975 and headquartered in Long Beach, CA, Epson America, Inc. is the U.S. affiliate of Japan-based Seiko Epson Corporation, a global manufacturer of high-quality technology products that meet customer demands for increased functionality, compactness, systems integration, and energy efficiency.
In order to deliver the best cross-channel shopping experience, future-thinking retailers must go beyond buy online pick up in-store (BOPIS) and push the envelope with inventive new tactics.
As anticipated, the retail industry continued to evolve in 2018, with overall sales jumping close to 5%, online marketplaces grabbing a larger slice of the pie, and legacy brick-and- mortar retailers shifting more resources online. The industry is ripe for even more change in 2019. With eCommerce sales projected to reach $530.6 billion by 2020, retailers must continue to evolve to meet customer’s expectations.
As Founder and CEO of UJET, Inc., Anand Janefalkar has 15 years of experience in the technology industry and has served as a technical advisor for various startups in the Bay Area. Before to founding UJET, he served as Senior Engineering Manager at Jawbone, and also previously contributed to multiple high-profile projects at Motorola. Fadi ElTal is the head of Customer Support and Insights at Noon Home, and is behind the program’s overall launch strategy and bring up. These two recently spoke with Retail Operations Insights about customer experience, consumer loyalty, and the future of retail.
In order to deliver the best cross-channel shopping experience, future-thinking retailers must go beyond buy online pick up in-store (BOPIS) and push the envelope with inventive new tactics.
(AI) and machine learning (ML) technologies will completely transform customer service over the next five years. Watch this webcast with DestinationCRM and Radial to learn how AI can transform your customer service paradigm.
With a 200% expected increase in digital gift card sales projected for 2018, it’s essential for retailers to have the right fraud management strategies in place to tap into this lucrative market, while minimizing risk. View this insightful webinar with Brett Glass, CEO at GCI, an Incomm company, KC Fox, Senior Vice President, Technology Services at Radial, and DJ Murphy, Editor-in-Chief at CardNotPresent to uncover actionable strategies to turn high-risk gift cards into profit.
In this on-demand webinar, Radial and Chargebacks911 offer expert advice and insider tips on how to achieve the most effective and efficient fraud prevention, leveraging both automated fraud management tools as well as a manual review team. We answer your questions and offer insight on why both are important, and how to use them together to stop fraud without turning away legitimate orders.
The TM-T88V POS thermal printer is the latest addition to Epson’s innovative, industry-leading TM-T88 POS printer series.
Retalon’s Price Management & Optimization solution enables retailers to maintain optimal prices throughout the product lifecycle, starting with initial prices and automatically adjusting product families to price changes. The system intelligently accounts for many factors such as competitive data, product cannibalization, promotions & events as well as any policies, business rules, or constraints set by the user.
Epson’s CaptureOne check scanner is the most reliable desktop check scanner available making it the ideal solution for retailers that want to capture checks using back office capture, remote deposit capture or a combination of the two. CaptureOne features the highest MICR accuracy in its class, clear electronic endorsements, a double check detector, built-in franker and two-pocket support. Best of all it’s backed by Epson's industry-leading service and a two-year warranty.
Retalon’s Dynamic Price Management system is built on a powerful Predictive Analytics engine. This system will automatically monitor your entire retail process, uncover hidden opportunities, and recommend the most advantageous pricing strategies. The system significantly reduces inventory costs and boosts gross margins.
