Posts

81% Of Merchants Will Soon Start Using Unified Commerce Platforms by 2020

eSellerCafe – At least 81% of merchants will soon be using unified commerce platforms by the end of 2020. According to a survey done by Boston Retail Partners, the merchants’ move is essential to support commerce across an omnichannel environment.

The recent survey entitled “2018 POS/Customer Engagement Benchmarking Survey” evaluated how retailers are managing to meet consumers’ increasing demands, wrote Retail Dive.

Based on the survey, the three factors that merchants need to consider are the personalization of the customer experience (62%), alignment of customer experience across the Web and mobile apps (54%) and utilizing mobile tools to assist associates (51%).

“Customers appreciate personalized offers and recommendations when shopping online or via mobile, and now they expect the same personalization, or better when they shop in a store… As customer expectations have been reshaped by the digital retail experience, successful retailers have shifted their focus to the physical store environment,” Perry Kramer, BRP, Senior Vice President and Practice Lead.

Retailers are now reshaping technology by reducing the use of mobile websites to identify customers in their stores. Currently, mobile website usage declined by 28% from 40% in 2017 and increasing the Media Access Control (MAC) addresses unique usage by 26%. There was also a rise in Bluetooth (16%) and beacons (19%) usage.

Read Full Cafe – 81% Of Merchants Will Soon Start Using Unified Commerce Platforms by 2020

Unified Commerce Solutions Booming; A Third of Smartphone Users Will Pay via Mobile by 2018

ExchangeWire – RetailTechNews’ weekly roundup brings you up-to-date research findings from around the world. In this week’s edition: Unified commerce solutions booming; A third of smartphone users will pay via mobile by 2018; and Mobile email marketing draws level with desktop as m-commerce grows.

Unified commerce solutions booming

By the end of 2020, 81% of retailers will deploy unified commerce platforms, to support commerce across the enterprise’s stores, mobile users and the web, according to a survey by Boston Retail Partners (BRP). This is seen as essential to competing in the omnichannel environment.

The survey finds that 28% of respondents have implemented unified commerce, compared to 9% the previous year. Retailers are making progress on implementing unified commerce platforms. Last year, BRP predicted 73% of retailers would have such a platform in place by 2019, and 22% already had one deployed.

Moving forward, the top three priorities of retailers for the year ahead are:

– Customer identification and personalisation of the customer experience (62%)

– Alignment of the customer experience across mobile apps the web (54%)

– Empowering associates with mobile tools (51%)

Retailers are modifying the technology used to identify customers in their stores by decreasing their use of mobile websites, which declined from 40% in 2017 to 28% in 2018, and increasing the use of Media Access Control (MAC) addresses as unique identifiers by 26%. Also on the rise are beacons (19%), and Bluetooth (16%).

Read full article: Unified Commerce Solutions Booming; A Third of Smartphone Users Will Pay via Mobile by 2018

Most retailers likely to adopt unified commerce

Fashion Network – As many as 81 per cent retailers of North America are planning to have unified commerce within 3 years, says a recent report. Elevated customer expectations and disruptive technology are driving the need for retail transformation. The customer journey and associated expectations continue to evolve – driving a major transformation in retail.

Disruption and adaptation are changing the customer engagement model and blurring the lines among retailers, brands and wholesalers, says BRP’s 2018 POS/Customer Engagement Survey. BRP is an innovative retail management consulting firm dedicated to providing superior service and enduring value to our clients.

The survey offers insights into retailers’ current priorities and initiatives as digital and physical retail environments converge to facilitate a seamless experience across channels.

“Retail and customer engagement models must transform,” said Brian Brunk, principal at BRP.

“However, the legacy retail applications and infrastructure still in place at many retail organisations are not properly equipped to support changing retail models and continuously evolving customer expectations. To meet the demands of their customer, the retail winners in 2018 and beyond need to accelerate the transformation to cloud-based unified commerce. Victory belongs to the agile.”

Read Full Article: Most retailers likely to adopt unified commerce

Retail shows power of personalisation

Bangkok Post – Most retailers are looking for ways to improve the consumer  experience with their brand, but few are equipped to apply one of the most obvious and powerful approaches available, which is personalisation, says Diebold Nixdorf, a multinational provider of comnected commerce and cash-handling products and services.

In a survey to gauge retailers’ customer experience priorities last year, the US-based retail and restaurant specialists BRP Consulting found 55% of respondents said that optimising the customer experience was their top priority. Increasing customer loyalty was a close second (50%) and improving the mobile shopping experience (45%) came third.

However, only 24% of respondents indicated that providing personalised promotions, recommendations and/or offerings was a top priority.

How to get personal?

Mr Holterman offers some advice from Jeffrey Neville, a BRP vice-president who once said: “Personalisation may be the most powerful way for retailers to differentiate their brand and enhance the customer experience. The challenge is to identify the best method to customise the experience for each customer.”

Read Full Article: Retail shows power of personalisation

81% of retailers will use unified commerce platforms by 2020

Retail Dive – By the end of 2020, 81% of retailers will deploy unified commerce platforms, to support commerce across the enterprise’s stores, mobile users and the web, according to a survey by Boston Retail Partners (BRP). This is seen as essential to competing in the omnichannel environment.

In the online survey of 500 North American retailers, BRP found 28% of respondents had implemented unified commerce, compared to 9% the previous year.

This year’s BRP survey shows that retailers are making progress on implementing unified commerce platforms. Last year, BRP predicted 73% of retailers would have such a platform in place by 2019, and 22% already had one deployed.

Technology and consumer expectations are constantly moving the needle on what is expected from retailers across all channels of their operations.

BRP evaluated how retailers are doing in implementing solutions to meet consumer demands in its “2018 POS/Customer Engagement Benchmarking Survey.” Moving forward, the top three priorities of retailers for the year ahead are customer identification and personalization of the customer experience (62%), alignment of the customer experience across mobile apps and the Web (54%) and empowering associates with mobile tools (51%).

“Customers appreciate personalized offers and recommendations when shopping online or via mobile, and now they expect the same personalization, or better, when they shop in a store,” said Perry Kramer, senior vice president and practice lead at BRP in a statement. “As customer expectations have been reshaped by the digital retail experience, successful retailers have shifted their focus in the physical store environment.”

Retailers are modifying the technology used to identify customers in their stores by decreasing their use of mobile websites, which declined from 40% in 2017 to 28% in 2018, and increasing the use of Media Access Control (MAC) addresses as unique identifiers by 26%. Also on the rise are beacons (19%), and Bluetooth (16%). There will be continued increases in the use of beacon technology in the near future, according to BRP.

Read Full Article: 81% of retailers will use unified commerce platforms by 2020

Survey: 81% Of Retailers Will Deploy Unified Commerce Platforms By 2020

Retail TouchPoints – Retailers understand that gaps between shoppers’ personalized experiences online and in brick-and-mortar stores are problematic, and they are employing technology to satisfy consumers across every channel, at any time and via the method of their choosing.

Boston Retail Partners (BRP) identifies cloud-based unified commerce — the use of a single platform to support commerce for stores, mobile and the web — as the linchpin to competing in a fast-changing, omnichannel environment. In an online survey of 500 top North American retailers, BRP found that 28% of respondents have already implemented unified commerce, more than three times the percentage (9%) reporting that capability last year. By the end of 2020, 81% of retailers will have deployed unified commerce.

“Retail and customer engagement models must transform,” said Brian Brunk, Principal at BRP in a statement. Because legacy retail applications and infrastructure are not equipped for today’s requirements, “retail winners in 2018 and beyond need to accelerate the transformation to cloud-based unified commerce.”

Three Top Customer Engagement Priorities For 2018

In its 2018 POS/Customer Engagement Benchmarking Survey, BRP evaluated retailers’ progress in implementing technology solutions to meet customers’ ever-rising expectations. Retailers’ three top priorities for 2018 are:

  • Customer identification/personalization of the customer experience (62%);
  • Alignment of the customer experience across mobile apps and the web (54%); and
  • Empowering associates with mobile tools (51%).

Read Full Article: Survey: 81% Of Retailers Will Deploy Unified Commerce Platforms By 2020

NRF 2018: Fireside Chat with BRP’s Perry Kramer

YouTube – Joe Mach, President of Verifone North America, sits down with Perry Kramer, SVP and Practice Lead at Boston Retail Partners, to discuss retail’s evolution to remain relevant in today’s digital world.

View Video: NRF 2018: Fireside Chat with BRP’s Perry Kramer

With Amazon Go’s popularity, luxury must determine the cashierless model’s relevance

Luxury Daily – The long-awaited Amazon Go retail store has finally opened and there has been immense praise for its cashierless model, but is the concept one that can be emulated by luxury?

Amazon’s in-store concept works by letting users sign into an Amazon Go account on a mobile device, and then simply pluck desired items from the shelves and walk out with them while the smartphone tracks what was picked up, automatically charging the goods to the consumer’s account. While it is clear that the idea has immense potential, two questions arise: is it possible and is it right for luxury brands?

“The question is ‘Do other retailers have the competency?’ and that’s unclear,” said Jeffrey Neville, senior vice president and practice lead at Boston Retail Partners, Boston. “More likely, there are pieces of the Amazon Go model that retailers should look at incorporating as they plan for their store of the future.

“Part of the benefit of the Amazon Go experience is speed and convenience for the customer, for the luxury market, this grab-and-go technology doesn’t necessarily make sense since a large part of luxury shopping is the time evaluating a high-ticket item and the interaction with the sales associate asking questions about fit, care and use,” he said. “However, the elimination of the traditional POS may open the door for retailers to redesign their stores and eliminate the classic cash wrap desk to enable more customer- associate interaction.”

Read Full Article: With Amazon Go’s popularity, luxury must determine the cashierless model’s relevance

Retail Industry Adapts To Rapid Change

Retail TouchPoints – Headlines screamed about a “Retail Apocalypse” in 2017, but what was really happening was a highly accelerated period of retail transformation. The 17 retail industry experts contributing to the Retail TouchPoints 2018 Outlook Guide paint a collective portrait of an industry undergoing seismic shifts in multiple areas:

  • Stores are emphatically not dead
  • Voice could radically alter the existing product search paradigm, giving a huge first mention advantage to the top result;
  • Mobile devices for store associates will become the new must-have business accessory;
  • Technologies including AIIoTbots, AR and even connected carswill start to prove their worth; and
  • Customer engagement, via advanced analytics and what one contributor called “right-sized personalization,” will continue to be the ultimate competitive battleground.

 “While it might be an “apocalyptic” outlook for some, the reality is that it is just the ever-evolving nature of retail and consumers.” said Brian Brunk Principal, BRP.

To Download the full report visit: 2018 Outlook Guide: Retail Industry Adapts To Rapid Change

 

Customer Experience Journey

Retail Personalization: Attracting & Keeping Your Customers

Customer Experience Journey

Engaging the customer through personalization and relevant messaging is the key to attracting and keeping customers. Customers want to shop wherever and whenever with the benefits of both the digital and physical retail environments. Personalization plays a critical role in optimizing the customer’s shopping experience. Retailers need to know whom the customer is to create a meaningful experience based on what they want and when they want it. Each step along the customer journey offers retailers another opportunity to engage with the customer and strengthen that personal relationship to drive sales and customer loyalty.

Customer Identification

With 62% of retailers indicating that customer identification is their top customer engagement priority (2018 POS/Customer Engagement Survey), stores are still identifying customers at the point of checkout. Many fail to realize it is too late to empower the associate to influence the current purchase decision at the checkout phase of the journey. Even though associates’ ability to custom tailor shopping experiences is currently limited the Survey shows that these capabilities are increasing.

Watch the Video Now

In a recent Retail Touch Points Video BRP Senior Vice President Gene Bornac talks about how customizing experiences around expectations is how retailers can attract and keep customers. Bornac points out that the fundamental challenge for retailers is understanding customer motivations for buying. Bornac also discusses how retailers should consider what’s relevant to the conversation regarding using personal information versus shopping trends.

Changing the Shopping Experience

Retailers should work on the transition from product-focused sales to experience-focused sales, looking to technology and customer journey planning to help move them forward. Some retailers are expanding the personalization aspect of retail into a “make shopping fun and engaging” experience. This includes gamification – where game-like interactions, rewards and incentives are offered for visiting a web site. The key to this personalization  is to tailor the interaction based on the customer’s habits. We are also seeing this augmented by artificial intelligence to keep the customer engaged and encourage further visits and interactions.

A current example of technology and customer journey combining is the launch of the Amazon Go store. With the use of multiple hardware and software technology advances the Amazon Go store is taking retail to the next level.

The Store of the Future

The store is not dead and focusing on the customer experience has never been more important. Consumers love the theater of shopping, which is why many pure-play online retailers are opening brick-and-mortar stores and store concepts continue to evolve. The in-store experience is paramount for apparel and other products that consumers want to touch, feel, demo or try on. Customers want a multi-dimensional or multi-sense purchase which leverages all their senses. For retailers selling commodity products, you could argue that the experience is the best way to differentiate their brand.

The time is now to innovate the customer experience by transforming your retail model for the new customer journey.

Download the 2018 POS/CUSTOMER ENGAGEMENT SURVEY

Watch the Using Personalization To Extend The Shopping Journey Video