A retail buying trip involves building supplier relationships, observing trends, leveraging past sales analysis to finally make effecting buying decisions. Images Retail - Shijo Sunny Thomas
This document discusses the changing retail landscape driven by digital disruption. It notes that digital natives aged 18-24 do most mobile shopping. Retail is being transformed by mobile technology, social networks, and how consumers interact and make decisions. Stores are also evolving in their role. The premium in the future will be on creating unique offers that keep customers coming back. An increasingly digital world is creating empowered consumers and new business environments. Technologies like analytics, cloud, mobility, and social media are top priorities for CIOs. India's IT-BPM exports to retail are growing and analytics are increasingly important. Key investments are in consulting, CRM, supply chain management, and sales/marketing. Startups also provide opportunities for
Smart Retail refers to the smart technologies that are developed through Artificial Intelligence (AI), the Internet of Things (IoT), to give the customer a better shopping experience. Smart retail solutions help to build an effective and better understanding of the customer in-store experience according to the customer’s taste, need, interest, purchase habits in real-time which makes the retailers provide consummately meeting customer expectations.
Features of smart retail can be four things
1. Camera-Based Analytics – Digital Analytics for Retail
2. Point of Sale (POS) – Software for Smart Retail Management
3. Smart Retail Heatmaps – In-Store Retail Analytics Report
4. Customer demographic Metrics – Location tracking Technology
5. Automatic scanning of products - Smart Check out
6. Anti-theft Management.
https://www.gyrus.ai
Technological advancements have elevated consumers’ expectations for the in-store shopping experience. The future of retail is about choice, consistency and customization. Consumers’ want the ability to choose how, when and where they shop, and retailers need to be prepared to meet those preferences. Outdoor retailers can leverage the support of in-store technologies to not only meet customers’ expectations, but create inventory transparency, reduce inventory overhead costs, provide a wider selection of products, and most importantly, gather customer data to better adapt to their shopping behaviors. Analysts agree that retailers who adopt trending technologies for business development are the most likely to grow their revenue and market share.
Factors to consider when designing your in-store technology platform:
•Look at how consumers are using mobile devices in-store to determine which technology will be most effective (focus on simplifying and assisting in their shopping experience).
•Start small with one product (i.e. mobile app or an iPad display) and then add on elements to reduce risk.
•Be flexible, watch and analyze – in-store technologies have website-like analytics to track user behavior (traffic, visits, click-throughs) and understand whether it’s effective.
•Create a unified supply chain strategy where orders can be placed and fulfilled through any channel before launching a mobile POS platform.
•Focus on providing a consistent and seamless experience by aligning Online and in-store efforts.
The following is a sample of how retailers have used advanced technologies to provide enhancements to the in-store shopping experience.
This document discusses the importance of product behavioral analytics for e-commerce businesses. It notes that products, along with customers, are key entities that can drive revenue. Understanding a product's personality, potential, and how customer behavior varies based on different product attributes can help retailers focus on high selling items and clear out existing inventory. Product behavioral analytics examines on-site behavior, purchase history, email interactions, seasonality, discounts, and more to cluster products and identify customers most likely to buy each cluster. This predictive analysis provides insights into a product's revenue potential, profitability, and demand even for new products.
The document discusses how retailers can transform shopping experiences by using new technologies to personalize customer interactions. It suggests that retailers can use mobile devices and customer data to better understand shoppers' needs and provide targeted promotions and product recommendations in real time. This personalized approach can help increase customer loyalty, revenues, and satisfaction. However, retailers currently face challenges integrating diverse customer data sources and delivering personalized intelligence to customers within stores.
View stores through the eyes of online shoppers and create an online experience in-store.
Presentation at IRX: http://www.youtube.com/watch?v=KGPis9mryvA
The document discusses the use of technology in the retail industry in India. It outlines 3 categories of technologies used: 1) customer interfacing systems like barcoding, point of sale systems, and internet shopping; 2) operation support systems like ERP, CRM, and supply chain management; and 3) strategic decision support systems for site location, visual merchandising, and e-commerce. The document argues that Indian retailers need to optimize the use of these technologies to improve operations and sustain against global retail giants entering the Indian market.
E-tailing refers to electronic retailing, which is the sale of goods and services online. The e-tailing process involves customers visiting an e-tailer's website, selecting a product, registering or checking out as a guest, ordering and paying for the product through various methods like credit cards or cash on delivery, and having the product delivered by a third party logistics provider. E-tailing allows retailers to sell a larger variety of inventory globally at lower costs while providing customers flexible shopping hours, but it also faces challenges like high maintenance costs and customers' inability to physically examine products.
This document discusses the changing retail landscape driven by digital disruption. It notes that digital natives aged 18-24 do most mobile shopping. Retail is being transformed by mobile technology, social networks, and how consumers interact and make decisions. Stores are also evolving in their role. The premium in the future will be on creating unique offers that keep customers coming back. An increasingly digital world is creating empowered consumers and new business environments. Technologies like analytics, cloud, mobility, and social media are top priorities for CIOs. India's IT-BPM exports to retail are growing and analytics are increasingly important. Key investments are in consulting, CRM, supply chain management, and sales/marketing. Startups also provide opportunities for
Smart Retail refers to the smart technologies that are developed through Artificial Intelligence (AI), the Internet of Things (IoT), to give the customer a better shopping experience. Smart retail solutions help to build an effective and better understanding of the customer in-store experience according to the customer’s taste, need, interest, purchase habits in real-time which makes the retailers provide consummately meeting customer expectations.
Features of smart retail can be four things
1. Camera-Based Analytics – Digital Analytics for Retail
2. Point of Sale (POS) – Software for Smart Retail Management
3. Smart Retail Heatmaps – In-Store Retail Analytics Report
4. Customer demographic Metrics – Location tracking Technology
5. Automatic scanning of products - Smart Check out
6. Anti-theft Management.
https://www.gyrus.ai
Technological advancements have elevated consumers’ expectations for the in-store shopping experience. The future of retail is about choice, consistency and customization. Consumers’ want the ability to choose how, when and where they shop, and retailers need to be prepared to meet those preferences. Outdoor retailers can leverage the support of in-store technologies to not only meet customers’ expectations, but create inventory transparency, reduce inventory overhead costs, provide a wider selection of products, and most importantly, gather customer data to better adapt to their shopping behaviors. Analysts agree that retailers who adopt trending technologies for business development are the most likely to grow their revenue and market share.
Factors to consider when designing your in-store technology platform:
•Look at how consumers are using mobile devices in-store to determine which technology will be most effective (focus on simplifying and assisting in their shopping experience).
•Start small with one product (i.e. mobile app or an iPad display) and then add on elements to reduce risk.
•Be flexible, watch and analyze – in-store technologies have website-like analytics to track user behavior (traffic, visits, click-throughs) and understand whether it’s effective.
•Create a unified supply chain strategy where orders can be placed and fulfilled through any channel before launching a mobile POS platform.
•Focus on providing a consistent and seamless experience by aligning Online and in-store efforts.
The following is a sample of how retailers have used advanced technologies to provide enhancements to the in-store shopping experience.
This document discusses the importance of product behavioral analytics for e-commerce businesses. It notes that products, along with customers, are key entities that can drive revenue. Understanding a product's personality, potential, and how customer behavior varies based on different product attributes can help retailers focus on high selling items and clear out existing inventory. Product behavioral analytics examines on-site behavior, purchase history, email interactions, seasonality, discounts, and more to cluster products and identify customers most likely to buy each cluster. This predictive analysis provides insights into a product's revenue potential, profitability, and demand even for new products.
The document discusses how retailers can transform shopping experiences by using new technologies to personalize customer interactions. It suggests that retailers can use mobile devices and customer data to better understand shoppers' needs and provide targeted promotions and product recommendations in real time. This personalized approach can help increase customer loyalty, revenues, and satisfaction. However, retailers currently face challenges integrating diverse customer data sources and delivering personalized intelligence to customers within stores.
View stores through the eyes of online shoppers and create an online experience in-store.
Presentation at IRX: http://www.youtube.com/watch?v=KGPis9mryvA
The document discusses the use of technology in the retail industry in India. It outlines 3 categories of technologies used: 1) customer interfacing systems like barcoding, point of sale systems, and internet shopping; 2) operation support systems like ERP, CRM, and supply chain management; and 3) strategic decision support systems for site location, visual merchandising, and e-commerce. The document argues that Indian retailers need to optimize the use of these technologies to improve operations and sustain against global retail giants entering the Indian market.
E-tailing refers to electronic retailing, which is the sale of goods and services online. The e-tailing process involves customers visiting an e-tailer's website, selecting a product, registering or checking out as a guest, ordering and paying for the product through various methods like credit cards or cash on delivery, and having the product delivered by a third party logistics provider. E-tailing allows retailers to sell a larger variety of inventory globally at lower costs while providing customers flexible shopping hours, but it also faces challenges like high maintenance costs and customers' inability to physically examine products.
This document is a report submitted by Anant Lodha to Professor Sapna Parashar at the Institute of Management on the topic of technology and retail. The report includes an index, acknowledgements, declaration, objectives, and methodology. It then provides overviews and details on various technologies used in retail, including bar code scanners, RFID, ERP systems, POS systems, and CPFR. It discusses the benefits and applications of these technologies and how they help retailers manage inventory, sales, supply chains, and customer experience.
E-tailing refers to the selling of retail goods online. It allows companies to sell products to customers virtually without needing a physical storefront. E-tailing has grown significantly in recent years and enabled the development of software tools to help companies create online catalogs and manage the online sales process. Some benefits of e-tailing include reducing business costs and space needs while increasing accessibility of products to customers. However, e-tailing also lacks some of the experiential and sensory aspects of in-person shopping.
Mobile Engagement - Moving Beyond Transactions to InteractionsStarmount
Mobile solutions allow retailers to move beyond simple transactions to more meaningful interactions with customers. Shoppers now control their shopping experiences and are more informed than ever due to smartphones. Retailers need to provide consistent, personalized service across channels to engage these digitally savvy customers. One way to do so is by giving sales associates mobile tools that provide access to deeper product and customer data right on the sales floor. This allows associates to better assist customers in their purchasing decisions.
The document discusses how a product information management (PIM) system can help retailers manage product data across sales channels. It notes that maintaining consistent product data is challenging for retailers today. A PIM system allows retailers to centralize product data from all sources, standardize formats, and automate publishing to different channels. This helps improve customer experience and sales potential by ensuring accurate data is consistently presented everywhere. The document advocates that a PIM system is necessary for retailers to efficiently manage product information across an omnichannel business.
Webinar: B2BMage - Enable Magento 2.X with B2B FeaturesAPPSeCONNECT
This document discusses ecommerce trends in B2B and B2C sales. It notes that B2B buyers now expect similar experiences to B2C, and that global B2B ecommerce sales are projected to reach $7.66 trillion by end of 2017, significantly higher than the $2.14 trillion in B2C sales. It then outlines common features sought for B2B ecommerce like accessing prices, placing orders remotely, and reordering quickly. The rest of the document describes a Magento extension that adds B2B functionality for account types, product visibility rules, pricing rules, order approval workflows, credit limits and more. It provides an example of a company using features like pricelists
SAP WHITEPAPER: Reacting in the Retail Moment, Analyzing Big Data in Real Tim...Beyond Technologies
Under any circumstances, retail is an extremely competitive industry. But today, an uncertain economy and low consumer confidence, coupled with shorter product lifecycles and well-informed, demanding customers, make it especially difficult to execute a profitable strategy.
Retailers have only a narrow window to make the sale and seize the opportunity. Thriving in this environment means maximizing the profit potential of each interaction, transaction, and customer contact.
Retail technology has evolved from credit cards in the 1940s to barcodes in the 1970s and e-commerce in 1995 with Amazon. IT plays an important role in managing complex retail operations by providing market knowledge and control of data. IT is used by retailers to increase responsiveness, collect customer data, work across stores, enhance the store experience, take advantage of mobile capabilities, and promote an omni-channel approach. Emerging technologies discussed include digital signage, interactive hangers, QR codes, near field communication for mobile shopping, and experiential flagship stores like Samsung's in Singapore. The key is using technology to actively solve customer problems and enrich their experience.
Explicato provides business analytics and consulting services to retailers to help them better understand customer behavior and improve strategies. They conduct in-depth market research using unique methods focused on understanding customers' motivations. Explicato also builds data warehouses and business intelligence platforms for retailers that integrate various data sources. This provides retailers operational and analytical reports as well as advanced analytics capabilities.
The document discusses achieving unified commerce through the right technology. It defines unified commerce as eliminating individual channel silos to offer a holistic customer experience across all touchpoints. Only 2% of retailers have adopted this approach. The document recommends retailers implement a single commerce platform, middleware/SOA, master data management, and business process management to enable unified commerce capabilities like personalized selling, real-time operations monitoring, and enterprise inventory visibility. This will allow retailers to sense and respond to customer needs in real-time.
The document discusses the critical challenges that retailers must address over the next few years. It identifies the key challenges as advancing with technological innovations, aligning behavior to the customer experience, and delivering value through all channels. To maintain a competitive advantage, retailers will need to stay innovative in integrating technology platforms to gain insights, use customer data to understand purchasing behaviors, and ensure a seamless customer experience across all channels. Agencies helping retailers must be prepared to use appropriate analytics tools, maintain refreshed data and insights, innovate communicative technologies, and equip retail employees to become solution drivers.
Iksula: Tablet Commerce - The Next Wave in eCommerceeTailing India
This document discusses the rise of T-commerce or touch commerce, which uses digital point-of-sale systems on tablets to help overcome challenges in closing sales. It outlines how T-commerce can empower sales associates by giving them access to customer, product, and inventory information through a tablet interface. This allows associates to provide personalized shopping experiences and recommendations. The document also provides examples of how T-commerce is being used in India, such as by digital franchisees of Big Bazaar and insurance premium collection by Reliance General Insurance. It concludes that T-commerce shows promise in India by addressing issues like lack of awareness, trust, and the desire for touch and feel in e-commerce.
(1) The consumer decision journey has evolved from a linear to a non-linear process with multiple touchpoints and influences. Consumers are actively seeking information from various sources rather than passively receiving marketing messages.
(2) Marketers must align their efforts across all touchpoints of the consumer journey, including consideration, evaluation, purchase and post-purchase. They need to engage in two-way conversations and build loyalty through the customer experience.
(3) The proliferation of digital channels has created more "noise" that marketers must break through. They need new ways to get their brands considered initially and then systematically manage word-of-mouth.
The document discusses the challenges faced by brick-and-mortar retailers from the rise of e-commerce, such as discounts moving customers online and online retailers having more customer data. It proposes a mobile platform called SaleFee that would provide customers information about store inventory, sales, new arrivals, and reviews based on their location to help drive more foot traffic to physical stores. The business model for SaleFee is described as charging retailers commissions on purchases made after customers use the app to find product information.
Through precise location analytics, retailers now can monitor the entire path to purchase. With this data, marketers better understand what led to the purchase providing the ability to move beyond the traditional blanketed “campaign” to a year-round interaction based on consumer behavior. Customers “opt-in” by mobile app to receive highly-targeted promotions, information about merchandise they may have “visited” but didn’t purchase, and discounts for major events – based on correlations like visits, dwell and intent – to drive sales like never before.
Adapted the use case of several reports on how retailers are taking advantage of iot moving forward from in store cctv and wifi analytics for performance improvement to ibeacons as a new engagement channel.
M-commerce refers to commercial transactions conducted through mobile devices. It allows companies to reach a wide range of customers based on their location and purchase behavior. Key challenges for m-commerce include keeping apps and mobile sites up to date with the latest operating system versions, ensuring secure payment methods, and providing customers with a fast and privacy-focused experience. M-commerce platforms include mobile websites that can be accessed directly through a browser, as well as mobile apps that must be downloaded and allow companies to track customer loyalty and usage.
Consumer durables retail efficiency- Images Retail-December 2013Shijo Thomas
Consumer durable retail in India have
an extended and a peculiar value chain. Efficiency and integration can bring about a sea change across all points in the 'search to service' business processes.
Consumer adoption of Mobile-point of sale technologyGunika Arora
The document discusses the increasing adoption of digital technologies and mobile point-of-sale (POS) systems in the retail industry. It notes that customers now research purchases online and expect convenient, customized service. Retailers are adopting IT solutions to gather customer data, manage inventory, and empower store associates. Mobile payments processed directly at POS terminals are growing in popularity as customers seek quick, flexible purchasing options. The widespread adoption of smartphones is driving further integration of digital tools and mobile commerce in the retail experience.
This document is a report submitted by Anant Lodha to Professor Sapna Parashar at the Institute of Management on the topic of technology and retail. The report includes an index, acknowledgements, declaration, objectives, and methodology. It then provides overviews and details on various technologies used in retail, including bar code scanners, RFID, ERP systems, POS systems, and CPFR. It discusses the benefits and applications of these technologies and how they help retailers manage inventory, sales, supply chains, and customer experience.
E-tailing refers to the selling of retail goods online. It allows companies to sell products to customers virtually without needing a physical storefront. E-tailing has grown significantly in recent years and enabled the development of software tools to help companies create online catalogs and manage the online sales process. Some benefits of e-tailing include reducing business costs and space needs while increasing accessibility of products to customers. However, e-tailing also lacks some of the experiential and sensory aspects of in-person shopping.
Mobile Engagement - Moving Beyond Transactions to InteractionsStarmount
Mobile solutions allow retailers to move beyond simple transactions to more meaningful interactions with customers. Shoppers now control their shopping experiences and are more informed than ever due to smartphones. Retailers need to provide consistent, personalized service across channels to engage these digitally savvy customers. One way to do so is by giving sales associates mobile tools that provide access to deeper product and customer data right on the sales floor. This allows associates to better assist customers in their purchasing decisions.
The document discusses how a product information management (PIM) system can help retailers manage product data across sales channels. It notes that maintaining consistent product data is challenging for retailers today. A PIM system allows retailers to centralize product data from all sources, standardize formats, and automate publishing to different channels. This helps improve customer experience and sales potential by ensuring accurate data is consistently presented everywhere. The document advocates that a PIM system is necessary for retailers to efficiently manage product information across an omnichannel business.
Webinar: B2BMage - Enable Magento 2.X with B2B FeaturesAPPSeCONNECT
This document discusses ecommerce trends in B2B and B2C sales. It notes that B2B buyers now expect similar experiences to B2C, and that global B2B ecommerce sales are projected to reach $7.66 trillion by end of 2017, significantly higher than the $2.14 trillion in B2C sales. It then outlines common features sought for B2B ecommerce like accessing prices, placing orders remotely, and reordering quickly. The rest of the document describes a Magento extension that adds B2B functionality for account types, product visibility rules, pricing rules, order approval workflows, credit limits and more. It provides an example of a company using features like pricelists
SAP WHITEPAPER: Reacting in the Retail Moment, Analyzing Big Data in Real Tim...Beyond Technologies
Under any circumstances, retail is an extremely competitive industry. But today, an uncertain economy and low consumer confidence, coupled with shorter product lifecycles and well-informed, demanding customers, make it especially difficult to execute a profitable strategy.
Retailers have only a narrow window to make the sale and seize the opportunity. Thriving in this environment means maximizing the profit potential of each interaction, transaction, and customer contact.
Retail technology has evolved from credit cards in the 1940s to barcodes in the 1970s and e-commerce in 1995 with Amazon. IT plays an important role in managing complex retail operations by providing market knowledge and control of data. IT is used by retailers to increase responsiveness, collect customer data, work across stores, enhance the store experience, take advantage of mobile capabilities, and promote an omni-channel approach. Emerging technologies discussed include digital signage, interactive hangers, QR codes, near field communication for mobile shopping, and experiential flagship stores like Samsung's in Singapore. The key is using technology to actively solve customer problems and enrich their experience.
Explicato provides business analytics and consulting services to retailers to help them better understand customer behavior and improve strategies. They conduct in-depth market research using unique methods focused on understanding customers' motivations. Explicato also builds data warehouses and business intelligence platforms for retailers that integrate various data sources. This provides retailers operational and analytical reports as well as advanced analytics capabilities.
The document discusses achieving unified commerce through the right technology. It defines unified commerce as eliminating individual channel silos to offer a holistic customer experience across all touchpoints. Only 2% of retailers have adopted this approach. The document recommends retailers implement a single commerce platform, middleware/SOA, master data management, and business process management to enable unified commerce capabilities like personalized selling, real-time operations monitoring, and enterprise inventory visibility. This will allow retailers to sense and respond to customer needs in real-time.
The document discusses the critical challenges that retailers must address over the next few years. It identifies the key challenges as advancing with technological innovations, aligning behavior to the customer experience, and delivering value through all channels. To maintain a competitive advantage, retailers will need to stay innovative in integrating technology platforms to gain insights, use customer data to understand purchasing behaviors, and ensure a seamless customer experience across all channels. Agencies helping retailers must be prepared to use appropriate analytics tools, maintain refreshed data and insights, innovate communicative technologies, and equip retail employees to become solution drivers.
Iksula: Tablet Commerce - The Next Wave in eCommerceeTailing India
This document discusses the rise of T-commerce or touch commerce, which uses digital point-of-sale systems on tablets to help overcome challenges in closing sales. It outlines how T-commerce can empower sales associates by giving them access to customer, product, and inventory information through a tablet interface. This allows associates to provide personalized shopping experiences and recommendations. The document also provides examples of how T-commerce is being used in India, such as by digital franchisees of Big Bazaar and insurance premium collection by Reliance General Insurance. It concludes that T-commerce shows promise in India by addressing issues like lack of awareness, trust, and the desire for touch and feel in e-commerce.
(1) The consumer decision journey has evolved from a linear to a non-linear process with multiple touchpoints and influences. Consumers are actively seeking information from various sources rather than passively receiving marketing messages.
(2) Marketers must align their efforts across all touchpoints of the consumer journey, including consideration, evaluation, purchase and post-purchase. They need to engage in two-way conversations and build loyalty through the customer experience.
(3) The proliferation of digital channels has created more "noise" that marketers must break through. They need new ways to get their brands considered initially and then systematically manage word-of-mouth.
The document discusses the challenges faced by brick-and-mortar retailers from the rise of e-commerce, such as discounts moving customers online and online retailers having more customer data. It proposes a mobile platform called SaleFee that would provide customers information about store inventory, sales, new arrivals, and reviews based on their location to help drive more foot traffic to physical stores. The business model for SaleFee is described as charging retailers commissions on purchases made after customers use the app to find product information.
Through precise location analytics, retailers now can monitor the entire path to purchase. With this data, marketers better understand what led to the purchase providing the ability to move beyond the traditional blanketed “campaign” to a year-round interaction based on consumer behavior. Customers “opt-in” by mobile app to receive highly-targeted promotions, information about merchandise they may have “visited” but didn’t purchase, and discounts for major events – based on correlations like visits, dwell and intent – to drive sales like never before.
Adapted the use case of several reports on how retailers are taking advantage of iot moving forward from in store cctv and wifi analytics for performance improvement to ibeacons as a new engagement channel.
M-commerce refers to commercial transactions conducted through mobile devices. It allows companies to reach a wide range of customers based on their location and purchase behavior. Key challenges for m-commerce include keeping apps and mobile sites up to date with the latest operating system versions, ensuring secure payment methods, and providing customers with a fast and privacy-focused experience. M-commerce platforms include mobile websites that can be accessed directly through a browser, as well as mobile apps that must be downloaded and allow companies to track customer loyalty and usage.
Consumer durables retail efficiency- Images Retail-December 2013Shijo Thomas
Consumer durable retail in India have
an extended and a peculiar value chain. Efficiency and integration can bring about a sea change across all points in the 'search to service' business processes.
Consumer adoption of Mobile-point of sale technologyGunika Arora
The document discusses the increasing adoption of digital technologies and mobile point-of-sale (POS) systems in the retail industry. It notes that customers now research purchases online and expect convenient, customized service. Retailers are adopting IT solutions to gather customer data, manage inventory, and empower store associates. Mobile payments processed directly at POS terminals are growing in popularity as customers seek quick, flexible purchasing options. The widespread adoption of smartphones is driving further integration of digital tools and mobile commerce in the retail experience.
Business Market and Business Buyer Behavior - Philip Kotler & Gary ArmstrongMD Tamal
Business Market and Business Buyer Behavior - Chapter 6,Principle of Marketing,briefly discussed by MD AMA Tamal,student of University of Barisal-Faculty of Business Studies.
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5 Ways to Improve Your Digital Marketing StrategyForexioFx
5 Ways to Improve Your Digital Marketing Strategy.As the world of marketing changes, so should your digital marketing strategy. It’s important to stay aware of the changing landscape and the new advancements in technology that can make digital marketer’s lives much easier.https://digiskillzz.com/
What is likely to outnumber the billions of human beings on planet earth over the next few years? The answer: mobile devices. While mobile devices have been around for several yea rs, there are two categories that have resulted in the explosive growth in this industry especially over the last two or three years – smartphones and tablets i .
This document discusses Visionet's 360° Customer Capture solution which enables retailers to deliver a complete shopping experience across channels by providing a unified 360-degree view of each customer. It highlights challenges retailers face in engaging today's connected, empowered customers who research products online and interact with brands across many touchpoints. Visionet's solution combines customer data from transactions, interactions, social media, and other sources to provide insights that retailers can use to personalize the customer experience, run targeted campaigns, and optimize operations.
360 Degree Customer Capture: Enabling Retailers to Deliver a Complete Shoppin...Imran Aslam
Visionet's 360° Customer Capture solution provides retailers with a unified approach to gain a complete 360-degree view of customers by capturing customer data across all retail channels, functions, and operations. This includes point of sale, marketing, ecommerce, contact centers, and business intelligence to track customer interactions and generate insights. The solution aims to help retailers deliver a personalized, seamless shopping experience and engage customers more meaningfully throughout their journey.
Visionet's 360° Customer Capture solution provides retailers with a unified approach to gain a complete 360-degree view of customers by capturing customer data across all retail channels, functions, and operations. This includes point of sale, marketing, e-commerce, contact centers, and business intelligence to track customer interactions and generate insights. The solution aims to help retailers deliver a personalized, seamless shopping experience and engage customers more meaningfully throughout their journey.
The mobile revolution represents both a threat and opportunity for retailers. While customers increasingly use smartphones in stores to compare prices and make purchases online, mobile technologies also allow retailers to engage customers and improve the in-store experience. However, retailers face challenges in tracking changing customer preferences in real-time, competing with online retailers, and overcoming technology challenges around integrating disconnected in-store and online systems and gathering/analyzing customer data from multiple sources to determine personalized offers.
This document discusses omni-channel retail and strategies for enhancing the customer experience across channels. It describes both the current and enhanced processes for fulfillment and delivery, shopping experience, and designing service offerings. For each process, it outlines the key steps, limitations of the current process, and how technology like big data analytics, mobile apps, and digital displays can help create a more seamless omni-channel experience for customers. The goal is to provide personalized recommendations, streamline queries and purchases across channels, and ensure consistency in customer interactions online and in-store.
Mobile in Retail and Multi-Channel StrategyJesse Karp
Lenati is an award-winning consulting firm based in the Pacific Northwest that specializes in marketing and sales solutions. The document discusses opportunities for retailers in developing mobile and multi-channel strategies. It notes that mobile commerce is expected to reach $31 billion by 2016 and over half of US smartphone users prefer using their device while shopping in stores. The document outlines key touchpoints for a mobile strategy, including pre-store planning, outside store experiences, in-store experiences, checkout, and post-purchase. It provides examples of how mobile can enhance the customer experience at each touchpoint through features like store finders, location-based promotions, barcode scanning, and post-purchase support.
The document discusses business buyer behaviour and the business buying process. It explains that business buying involves identifying organizational needs, specifying product requirements, searching for suppliers, selecting suppliers, and reviewing purchases. The buying process is more complex than consumer buying and involves multiple decision makers within a company. Key differences between business and consumer buying include business needs versus consumer wants, smaller and specialized business markets, higher value individual buyers, and a longer, more formal multi-step buying process. The document also outlines different business buying situations such as new tasks and modified rebuys.
RIS November tech solutions guide - analyticsiinside
Through precise location analytics, retailers now can monitor the entire path to purchase. With this data, marketers better understand what led to the purchase providing the ability to move beyond the traditional blanketed “campaign” to a year-round interaction based on consumer behavior. Customers “opt-in” by mobile app to receive highly-targeted promotions, information about merchandise they may have “visited” but didn’t purchase, and discounts for major events – based on correlations like visits, dwell and intent – to drive sales like never before.
The document discusses how consumers navigate the path to purchase for various products and services in today's digital landscape. It finds that the traditional purchase funnel model is outdated, as consumers conduct research across multiple devices and touchpoints in a non-linear fashion. For hotel bookers specifically, the summary is:
1) The average hotel booker visits 12 travel sites before booking online, with over half of visits occurring in the week and 48 hours before purchase.
2) Most hotel bookers conduct initial research 30 days before booking and visit multiple travel sites during this period, including online travel agencies and supplier sites.
3) While paths vary, flight research and airline site visits are common touchpoints for hotel bookers across different shopping
Marketing must evolve to keep up with today's customer who is in control of their buying journey. While most marketers use marketing automation to standardize processes, the most successful are using it to transform their practices with a focus on customer behavior across channels. Those marketers who have adopted behavioral marketing saw benefits like higher revenue growth and larger contributions to sales pipelines. Behavioral marketers have more fully implemented automation, run more and a greater variety of campaigns, and have more triggers based on customer behavior. Overall marketing automation adoption is widespread but execution remains basic for many, indicating room for improved strategies focused on the customer experience.
Raymark | Beyond MPOS: Diversifying Retail Mobile Solutions for Greater ROIRaymark
This document discusses how providing retail sales associates with mobile devices can empower them and improve the customer experience. It notes that consumers now have more information than associates when shopping due to being constantly connected. Mobile devices can give associates real-time access to product information, pricing, inventory levels, and customer data to allow them to better assist shoppers. This positions associates to influence purchase decisions rather than just complete transactions, potentially increasing sales and customer loyalty.
The document provides 6 steps for retailers to build an omnichannel retail strategy: 1) create a unified shopping experience across channels, 2) align in-store and digital channels, 3) empower sales staff with real-time access to inventory and customer data, 4) establish an online presence and social proof, 5) integrate modern payment solutions across channels, and 6) use business intelligence to gain actionable insights. Following these steps can help retailers engage customers seamlessly across channels to improve sales and customer experience.
Mobile advertising spend is up 80% over the last year, but sales from mobile represent only 1% of commerce. While initial mobile performance seems low, analytics tools cannot fully measure mobile's impact because they fail to track how consumers use multiple devices before purchasing. To better understand mobile's influence, retailers must analyze consumer behavior and measure metrics beyond single-device transactions, such as how mobile drives in-store sales and new customer registrations.
360° Customer Capture - Enabling Retailers to Deliver a Complete Shopping Experience. Now!
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Improving the efficiency of retail buying trips - Shijo Thomas
1. TECHNOLOGY
ENHANCING THE EFFECTIVENESS
OF RETAIL BUYING TRIPS
A buyer on a buying trip is inundated with an information and situations where
effective decisions have to be made, sometimes instantly. Let’s see how retailers
can improve the efficiency of buying trips through the use of technology
By Shijo Sunny Thomas
ROUND TRIP TO THE SHELF:
M
ost people would
agree with TS Eliot
when he said: “The
journey not the
arrival matters.”
Mention that to
a retail buyer on a buying trip, you
might get a serious frown. A buyer’s
journey begins much before she
embarks on that buying trip and ends
much after her return. Buying is one
of the most critical functions in the
retail business. A buyer is someone
who is responsible for the planning
and selection of merchandise that will
be made available in retail channels.
The level of information that a buyer
has ranges from customer demand
data, product specifications and
market trends to financial budgets
and vendor catalogs. A buyer needs
to be analytical, mobile, flexible,
collaborative and decisive to be
successful for her and for the category
that she represents. She needs to be a
wizard and a fortune teller.
One of the most significant activities
that a buyer performs is the buying
trip. She spends a considerable
amount of time planning for the
next season’s assortment. To enable
this, a buyer has to make numerous
trips to vendor locations, sourcing
agencies, industry events and trade
shows. During these trips, she needs
to shortlist merchandise after an
analysis of sales data, market trends
and vendor catalog. Each product is
evaluated against multiple criteria
before being recommended by the
buyer for further action.
A buyer has been traditionally
and extensively dependent on
spreadsheets. Prior to the buying
trip, she would download all
relevant product information from
the enterprise business intelligence
system. She would then slice and dice
this data on the spreadsheets in a way
that buying decision parameters can
be derived. These will be primarily
based on past sales data, markdowns,
gross margins and current inventory
levels. In addition to these, the
buyer also compiles the purchasing
information that would comprise open
orders, vendor contracts and vendor
performance against contractual
levels.
Along with the spreadsheet
data, the buyer also pulls together
vendor catalog information, market
A buyer needs to be analytical, she has to
be responsible for taking care of customer
demands data, market trends and finacial
budgets
2. The need of the hour
is a rapid platform
where retailers
can themselves
establish a buying trip
collaboration process.
There are cloud
mobile workflow
platforms, which
can be used
towards this
requirement
mobile application can be made light
enough to capture information and
refer data that is required on that
buying walk. All information captured
during the walk can be docked into
a buyer’s notebook at the end of the
day. The buyer can append all other
factors, analysis and recommendations
on the notebook application before
uploading that into the enterprise
merchandise systems.
External integration to market feeds
on product and supplier trends and
intelligence can also be a great value
add. These can be annotated to the
visited merchandise from the entire
supplier catalog. Digitisation of the
catalog and its availability on the
mobile device is a refreshing perspective
to today’s buyers. To a large extent, this
eliminates scribbled, highlighted and
dog eared paper catalogs.
Finally, it all comes to collaboration.
The buyer has captured all
relevant information and finalised
recommendations. During this process
or subsequent to this, the buyer is
required to liaise with a lot of internal
departments for specialised inputs.
Typically, these interactions would
be with buying colleagues, design
specialists, finance, marketing, store,
etc. A buyer seeks opinion and
feedback on the buying selections.
Obviously, this requires a platform
where all interactions can be highly
visible and collaborative.
The need of the hour is a rapid
collaborative platform where retailers
can themselves establish a buying
trip collaboration process and can
be made available in a very short
duration. There are cloud mobile
workflow platforms available today,
which can be used towards this
requirement of the industry. Cloud
can significantly reduce IT investment
towards this solution through a pay
per use model; mobile can improve
buyer productivity and workflow
can establish rapid collaboration.
Therefore, what the retailer gains
is increased productivity and
collaboration at the lowest cost and in
the shortest time.
Buyers are creative people. A lot
of the activities performed by the
buyer during the buying trip are
non-technical in nature and based
on market experience, intuition and
cordial supplier relationships. The
look and feel and interactivity of the
application should be made based on
a buyer’s persona and liberating the
buyer from the technical nitty-gritties
of traditional IT solutions.
One thing everybody understands
is that buying trips are expensive
and critical. Therefore, it is highly
imperative that these trips have
to be made highly productive and
effective than ever before. Improving
the effectiveness, productivity and
connectivity of a buyer during a
buying trip can make the difference
between goods on the shelf versus
goods in the shopping bag.
intelligence and most importantly
approved financial budgets for each
merchandise category. It is common
to see buyers spending a lot of time to
amalgamate all these data into a larger
spreadsheet. This master spreadsheet
eventually and essentially becomes
the “Buying Trip Bible.”
What we see here is that a buyer’s
responsibility extends beyond the
boundaries of her own organisation.
She has to interact with multiple
stakeholders who are part of the
vendor ecosystem and also personnel
from various other departments of
her own organisation. She operates
in an environment where information
availability and effective collaboration
is critical. Often this aspect of a
buyer’s role is ignored as the focus
is mostly on the functions that take
place within the boundaries of the
retail organisation. There is no better
time to focus on improving the buying
trip productivity than now.
The industry needs tools that
provide information on the move and
also establishes that collaboration
between all stakeholders is the
ammunition that today’s buyers need.
A comprehensive mobility-based
buying trip solution can provide the
buyer ability to capture and collate
all merchandise information into a
buying folio.
A mobile device can itself
function as the agent for capturing
all information while the buyer is
performing the merchandise tours
during the buying trip. The visit
and vendor information once made
available on the mobile application
can then be correlated with the
merchandise catalog. The buyer
can capture images, specifications,
notes and calculations on the mobile
device itself. The buyer can also
refer to analytics data both for the
merchandise parameters and pricing
and sales. The analytics view can be
leveraged on the mobile device from
the retailer’s enterprise analytics
systems. Enabling the buying walk
on a mobile device frees up the buyer
from lugging a heavier computing
device through the tradeshow. The
About the author:
Shijo Sunny Thomas is the industry lead
for Retail & CPG at Fujitsu Consulting.
He works closely with retailers in co-
innovation of retail solutions for the store
and the enterprise.