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Optimizing in-store digital experience helps fashion retailers increase revenue 25 percent

FashionUnited – In a world where shopping experiences are influenced by digital in 75 percent of cases, digital already directly drives more than a third of all retail sales, and it further influences a much higher percentage, concludes a recent report by BRP & Windstream Enterprise.

‘Retail’s Digital Crossroads: The Race to Meet Shopper Expectations’ study reveals that within the apparel and shoes segment, digital sales make 29 percent of total sales, whereas 17 percent of store sales are attributed to digital.

A retailer with 1 billion dollars in annual revenue could potentially gain circa 260 million dollars by delivering a great in-store experience. Furthermore, reinventing the store to truly integrate digital and analogical can help retain consumers and grow their value by approximately 25 percent while acquiring new consumers from competitors.

Digital technology investment requires better alignment with consumers’ demands

However, digital in-store technology investment is misaligned as retailers’ investments haven’t kept pace with consumer expectations. Consumers value technologies that help them shop and pay at their pace, clearly favouring those retailers that give them the ability to control their checkout experience.

On a related note, while 71 percent of consumers rate highly the option of using self-checkout, just 42 percent of retailers are able to offer it. Being able to check out via mobile app is a priority for 50 percent of consumers, whereas just 42 percent of retailers actually offer this option.

Read Full Article: Optimizing in-store digital experience helps fashion retailers increase revenue 25 percent

Retailers’ Tech Capabilities Still Fall Short

eMarketer – Today’s consumers are open to various types of retail technologies, and they are even warming up to others that were once seen as too creepy.

A recent study by BRP (Boston Retail Partners) and Windstream Enterprise found that many consumers would be more likely to shop at a retailer that offered tech capabilities like automated returns, as well as augmented and virtual reality experiences. But while interest is there—and retailers are aware of the impact it could have if offered—a good number of them don’t offer such capabilities yet.

In fact, while 68% of US shoppers surveyed by BRP and Windstream said they would be more likely to shop at a retailer that offered automated returns capability, just 8% of retailers said they offer this feature.

Read Full Article: Retailers’ Tech Capabilities Still Fall Short

Retailers not yet meeting shoppers’ digital expectations: BRP

Luxury Daily – While digital influences up to 75 percent of all in-store visits, retailers have not been keeping pace with shoppers’ preferences, according to a new Boston Retail Partners report.

The consultancy’s “Retail’s Digital Crossroads” report examines how retailers who are quick to adjust to today’s non-linear, multichannel shopping journeys will attract more customers. Although retailers have been investing in the digital shopping experience, not all of these investments reflect consumers’ preferences.

“While we have intuitively known that digital had become such a pervasive element of the overall shopping experience, it was surprising to quantitatively validate how much it influences in-store consumer behavior and purchases,” said Ryan Grogman, senior vice president and practice lead at BRP, Boston. “Consumers spend a considerable amount of time researching products, checking reviews, validating inventory availability and comparing prices before they even visit a store.”

The report is based on surveys of 1,212 retail consumers and 60 retail executives in the United States. Among the shoppers surveyed, there was a 50/50 gender split and Generation Z, millennials, Generation X and baby boomers were about equally represented.

Read Full Article: Retailers not yet meeting shoppers’ digital expectations: BRP

BRP Report Shows How Digital Influences Shopping

Convenience Store Decisions – Consumers expect greater convenience and empowerment to shop the way they want and where they want. According to a new report from Boston Retail Partners (BRP) and Windstream Enterprise, rapidly evolving customer expectations and digital technologies are driving a major transformation in the retail industry.

“The Retail’s Digital Crossroads: The Race to Meet Shopper Expectations” report, based on research conducted by Incisiv, combines findings from surveys of 1,212 retail consumers and 60 retail executives to understand the effect digital has on the shopping experience.

“The digital divide in retail is growing, as over 75% of retail shopping traverses the digital realm, but less than half of retailers deliver on the most important digital capabilities that customers desire,” said Brian Brunk, principal, BRP. “Further, very few retailers offer the next generation digital technologies, like automated returns and proximity-triggered mobile coupons, that could significantly influence future purchase decisions. Retailers must transform and quickly close the digital gap to remain relevant with their customer.”

“Mobile devices and the capabilities they enable are the primary catalyst for the continued evolution of the customer experience,” said Ryan Grogman, senior vice president and practice lead, BRP. “The majority of today’s consumers research products and brands digitally prior to visiting a physical store and, once they are in the store, about half of them use their mobile devices to perform price comparisons, read product reviews, and even validate inventory.”

Read Full Article: BRP Report Shows How Digital Influences Shopping

Ease in Payments And Ordering Are Central to Restaurant Success, a Survey Finds

Digital Transactions – What do diners want most when they go out to eat? Apparently, easy ordering and payment. That’s the big takeaway in the “Restaurant Digital Crossroads: The Race to Meet Guest Expectations” report released Thursday.

Hassle-free ordering and payment are especially important to younger consumers, defined as those between 18 and 37 years old. Seventy-four percent of them said ease of ordering and payment is extremely important to them, yet only 45% of restaurants meet that expectation, found the report from Boston-based BRP Consulting, which specializes in retail and restaurants.

“For Millennials, digital is shorthand for taking friction out of the order and payment process, allowing them to shop the way they want wherever they want,” the report said. “They, along with Gen Z, also value interactive technology and digital content (music, movies, games, digital shorts) more so than older generations.”

While restaurants whose primary guests may not have the same expectation now, BRP says such demands will become “table stakes in two years.”

Read full article: Ease in Payments And Ordering Are Central to Restaurant Success, a Survey Finds

New Survey Findings Confirm the Digital Lag between Guest Expectations and Current Restaurant Technology

The team at BRP is excited to have sponsored (along with our parent company Windstream Enterprise) a new report titled The Restaurant Digital Crossroads:  The Race to Meet Guest Expectations.  The report was produced by Incisiv and details the research survey findings from 1,225 restaurant guests and 60 restaurant executives.  The central message derived from the findings was crystal clear to all of us – rapidly evolving guest expectations and digital technologies are driving a major transformation across the whole of the restaurant industry.

Looking deeper into the themes the survey data told us, as guest expectations continue to rise, restaurants must transform their business with new, digital-enabling technologies to make the dining experience more seamless and frictionless – period. Unfortunately, many restaurant brands and franchisees (and you know who you are) have a long way to go to catch up to guest expectations. The good news is that restaurants (both brand owners and their franchisees) are increasingly aware of the gap the report calls out, and their short and long-term future plans include enhancements to key areas that guests deem important for a great experience, including easing the of ordering and payment process, adding or improving guest WiFi availability, and mobile POS capability.

Restaurant guests expect (make that demand) a frictionless dining experience that empowers them with relevant, helpful information, all while making it MORE convenient for them to operate on their own time and at their pace.  This requires restaurant operators to embed a broader spectrum of digital technology across the entire dining journey.

As you would expect, the Millennial and Gen-Z consumer demographics have the highest expectations for digital capabilities. The report identifies significant gaps between what younger generations feel is extremely important and what current capabilities many restaurant operators have in place.  Specific examples of this gap from the Incisiv/BRP survey findings include:

Ease of ordering and payment – Guests expect the ordering and payment process to be easy and frictionless.

  • 74% of guests feel it is extremely important
  • 45% of restaurant operators state this capability is operating excellently

Guest WiFi availability – Guests expect fast and free WiFi in restaurants, especially where cell reception is limited.

  • 60% of guests feel it is extremely important
  • 44% of restaurant operators state this capability is operating excellently

Discounts and promotions – Guests expect to receive digital discounts and promotions on any platform they choose, especially their mobile devices.

  • 60% of guests feel it is extremely important
  • 35% of restaurant operators state this capability is operating excellently

There is a lot more data and strategic insight behind the excellent work Incisiv did on behalf of BRP and Windstream Enterprise.  I encourage you to download and read through the entire Restaurant Digital Crossroads: The Race to Meet Guest Expectations survey findings report:

Download Now

As always, I appreciate your opinions – both on the insight from the report and across the broader restaurant and hospitality space.  Please share your thoughts and opinions below.

Scott

71% of Guests Identify Ease of Ordering and Payment as Important yet Only 45% of Restaurants have Excellent Execution of these Capabilities, According to Recent Survey

Restaurant Digital Crossroads: The Race to Meet Guest Expectations Report Identifies Gaps Between Restaurant Execution and Guest Expectations

Boston, MA – July 12, 2018– According to a new report from BRP and Windstream Enterprise, rapidly evolving guest expectations and digital technologies are driving a major transformation in the restaurant industry. The Restaurant Digital Crossroads: The Race to Meet Guest Expectations report, based on research conducted by Incisiv and sponsored by BRP and Windstream Enterprise, combines findings from surveys of 1,225 restaurant guests and 60 restaurant executives.

“As guest expectations continue to rise, restaurants must transform their business with new technologies to make the dining experience more seamless and frictionless,” said Scott Langdoc, senior vice president and practice lead at BRP. “Unfortunately, many restaurant brands and franchisees have a long way to go to catch up to guest expectations. The good news is that restaurants are aware of the gap and their future plans include enhancements to key areas that guests deem important for a great experience: ease of ordering and payment, WiFi availability, and mobile POS.”

Restaurant guests expect a frictionless dining experience that empowers them with relevant, helpful information and makes it convenient for them to operate on their own time and at their pace.  This requires restaurant operators to embed digital technology across the entire dining journey.

The Millennial and Gen-Z generations have the highest expectations for digital capabilities. The report identifies significant gaps between what younger generations feel is extremely important and what capabilities restaurant operators are operating excellently:

Ease of ordering and payment – Guests expect the ordering and payment process to be easy and frictionless.

  • 74% of guests feel it is extremely important
  • 45% of restaurant operators state this capability is operating excellently

WiFi availability – Guests expect fast and free WiFi in restaurants, especially where cell reception is limited.

  • 60% of guests feel it is extremely important
  • 44% of restaurant operators state this capability is operating excellently

Discounts and promotions – Guests expect to receive digital discounts and promotions on any platform they choose, especially their mobile devices.

  • 60% of guests feel it is extremely important
  • 35% of restaurant operators state this capability is operating excellently

To download the complete Restaurant Digital Crossroads: The Race to Meet Guest Expectations report, visit:

https://brpconsulting.com/download/2018-restaurant-research-report/.

About BRP

BRP is an innovative retail management consulting firm dedicated to providing superior service and enduring value to our clients. BRP combines its consultants’ deep retail business knowledge and cross-functional capabilities to deliver superior design and implementation of strategy, technology, and process solutions. The firm’s unique combination of industry focus, knowledge-based approach, and rapid, end-to-end solution deployment helps clients to achieve their business potential. BRP’s consulting services include:

Strategy | Business Intelligence | Business Process Optimization | Point of Sale (POS)
Mobile POS | Payment Security | E-Commerce | Store Systems and Operations | CRM
Unified Commerce | Customer Experience | Order Management | Networks
Merchandise Management | Supply Chain | Private Equity

Diners Have High Expectations for Restaurant Tech

eMarketer – As in many industries, there is a gap between consumer expectations and business execution for restaurants. Operators are often slow to adopt new technologies and those that they’ve implemented aren’t always satisfactory.

In a February 2018 survey of US internet users and restaurant executives by BRP (Boston Retail Partners) and Windstream Enterprise, restaurant operators met consumer expectations on only two factors: contactless/mobile payment, for which 32% of consumers valued it and one-third of operators offered it, and Wi-Fi availability (44% both valued it and offered it).

Consumer expectations will be even higher over the next 24 months. The most important factor now (71%) and in two years (81%) is simply ease of payment, but just 45% of restaurant operators said they had “excellent” execution.  Two of the biggest jumps in consumer expectation between now and 2020 will be the ability to order ahead digitally (a 55% increase) and Wi-Fi availability (up 59%).

Read Full Article: Diners Have High Expectations for Restaurant Tech

BRP Consulting Introduces New Network Assessment Service to Help Retailers Increase Bandwidth, Improve Reliability and Reduce Costs

In-depth Assessment Simplifies and Optimizes Network Capabilities to Enable Real-time Retail and Enhance the Shopping Experience

Boston, MA – July 10, 2018– BRP announces a new Retail Network Assessment Service to help retailers transform their networks and support the enhanced shopping experiences consumers now expect. Over the last nine years, BRP has helped many retail companies simplify and optimize their network to increase bandwidth, improve reliability, reduce costs and enhance the customer experience. Packaging BRP’s proven best practices and assessment methodology into this new offering enables more companies to achieve the significant benefits of an optimized network.

“Customer expectations are higher than ever and the plethora of new applications retailers are introducing to improve the customer experience put a strain on current bandwidth and create network bottlenecks,” said Ken Morris, principal, BRP. “Slow, outdated networks are not acceptable, as they frustrate and alienate customers and store associates. Now is the time to simplify and optimize the retail network to support the store of the future. One of the first steps is to find and replace plain old telephone systems (POTS) lines, that support non-IT departments like store operations and security, with VoIP to achieve significant cost savings that can fund other initiatives.”

As retailers continue to deploy more applications via the cloud, along with implementing data rich services; a simple, fast, agile, reliable and secure network solution is imperative for a successful transformation to the future store.

With an in-depth assessment of a retailer’s network ecosystem, there are often many ways to simplify and improve performance. By consolidating solutions and implementing SD-WAN, retailers can optimize and increase bandwidth, while providing 100 percent uptime. Through this assessment retailers can realize many benefits:

  • Elimination of plain old telephone service (POTS) lines
  • Significantly increased bandwidth
  • Improved network reliability, capability and diversity
  • Reduction in total network spend

To learn more about BRP’s Retail Network Assessment Services and request an assessment of your network environment, visit: https://brpconsulting.com/network_solutions/

About BRP

BRP is an innovative retail management consulting firm dedicated to providing superior service and enduring value to our clients. BRP combines its consultants’ deep retail business knowledge and cross-functional capabilities to deliver superior design and implementation of strategy, technology, and process solutions. The firm’s unique combination of industry focus, knowledge-based approach, and rapid, end-to-end solution deployment helps clients to achieve their business potential. BRP’s consulting services include:

Strategy | Business Intelligence | Business Process Optimization | Point of Sale (POS)
Mobile POS | Payment Security | E-Commerce | Store Systems and Operations | CRM
Unified Commerce | Customer Experience | Order Management | Networks
Merchandise Management | Supply Chain | Private Equity

The Future Retail Network Manifesto: Retailers Must Simplify and Optimize their Network to Increase Bandwidth, Improve Reliability and Reduce Costs

The future store requires a simple, fast, agile, reliable and secure network, according to a new report from BRP

Boston, MA – June 21, 2018– According to a new report from BRP, network bandwidth is becoming a bottleneck and applications are not performing efficiently. It has become so bad at some organizations, that retail store operations personnel refer to the network as the “not-work.” BRP published “The Future Retail Network Manifesto” to articulate its vision of the future store and identify the challenges and imperatives retailers face in delivering the expected customer experience. The network is a key enabler of the future store and most retail networks require a transformation to support the plethora of new applications that are putting a strain on bandwidth.

“We are in the midst of a retail renaissance, as the way customers shop has transformed the traditional store model. To meet consumers’ demand for the future store requires the adoption of real-time, cloud-based technologies enabled by a powerful network,” said Ken Morris, principal, BRP. “Retailers can no longer afford to operate with outdated networks. Now is the time to transform the network to support the store of the future.”

Consumer expectations have never been higher and will continue to rise. The digital world offers consumers new ways and “places” to research and shop. These digital possibilities, along with mobility, are raising consumer expectations and forcing retailers to transform and evolve to succeed. The store of the future requires a personal, mobile, relevant, ubiquitous and secure environment to meet these rising expectations.

Success requires retailers to operate in real-time with customer and product information visible and accessible across the enterprise – this necessitates the move to a unified commerce platform supported by a robust, fast, reliable and resilient network.  As retailers move more applications to the cloud, SD-WAN solutions optimize the network performance and ensures 100% uptime.

Retailers that simplify and optimize their network realize many benefits:

  • Elimination of plain old telephone service (POTS) lines
  • Significantly increased bandwidth
  • Improved network reliability, capability and diversity
  • Reduction in total network spend

To download The Future Retail Network Manifesto, visit: https://brpconsulting.com/download/the-future-retail-network-manifesto/

About BRP

BRP is an innovative retail management consulting firm dedicated to providing superior service and enduring value to our clients. BRP combines its consultants’ deep retail business knowledge and cross-functional capabilities to deliver superior design and implementation of strategy, technology, and process solutions. The firm’s unique combination of industry focus, knowledge-based approach, and rapid, end-to-end solution deployment helps clients to achieve their business potential. BRP’s consulting services include:

Strategy | Business Intelligence | Business Process Optimization | Point of Sale (POS)
Mobile POS | Payment Security | E-Commerce | Store Systems and Operations | CRM
Unified Commerce | Customer Experience | Order Management | Networks
Merchandise Management | Supply Chain | Private Equity

For more information on BRP, visit http://www.brpconsulting.com.