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Retailers are adapting to today’s connected consumers, finding ways to leverage the tools at their disposal. We see the common component to these strategies as being able to engage with customers in new ways, offering personalized selling based on customer preferences (perhaps as indicated through cross-channel purchases and/or Web-browsing analytics), current inventory position, store staffing, merchandising, logistics and more.
Next-generation retailing requires identifying, accessing and processing customer data immediately and in real-time, regardless of which shopping channel the customer chooses to conduct business. Unlike cross-channel or even omni-channel strategies, the entire buying process needs to be moved into scope, including gathering information, evaluating and comparing products, deciding, completing the purchase, and delivery (or taking home).
In our research, we are starting to see movement toward a “unified commerce” approach, delivering the convergence of the digital and in-store shopping experiences to create holistic customer interaction.
When we asked retailers to rank areas of importance to their organizations, the answers were interesting: By a wide margin, retailers said customer-facing technology in the store is the most important factor.
The next two highest-ranked areas of importance are real-time retail and unified commerce. These are the areas that are changing the way retailers are looking at their business, as well as the way customers are expecting their experience to be with the retailer. Together, these areas serve as the basis for discussion within this paper.
- Customer-facing technology
- Unified commerce
- Real-time retail
Read the POS/Customer Engagement Benchmarking Survey Report for more insights…
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