Ecommerce software enables retailers to collect a wealth of information about their shoppers so they can develop more personalized marketing efforts and improve business intelligence. With the expansion of mobile technology and retail management systems, merchants can pursue similar insights about their in-store shoppers.

In an article for SAP.com, Rick Dutta, CEO of NetVisionIX, described how retailers can collect valuable data about shopping habits as customers browse their aisles and make purchases. For example, stores that offer free Wi-Fi services can derive insights about in-store movement, Dutta explained. Tracking IP addresses can also yield information about the number of customers, busy traffic times and return frequency for loyal patrons. Aside from Wi-Fi, retailers can use technology such as iBeacons, in-store sensors and mobile check-in apps to collect information about on-site customers.

Merchants can analyze this data to improve their store operations, such as planning for busy times with additional staff or optimizing their displays. They can also use location-based data to send targeted promotions to customers in real time. According to MDG Advertising, 72 percent of customers respond to marketing messages they receive when they're in close proximity to the retailer and 53 percent are more likely to engage with advertising when it is location-based.

This entry was posted by Retail Pro on Wednesday, March 5th, 2014 at 11:23 am .

Developing markets across the globe offer exciting opportunities for the retail industry, especially as expanded technology makes it increasingly possible to reach diverse populations through ecommerce and efficient business operations. However, entering a new market environment comes with its own significant challenges. The Wall Street Journal cautioned investors to do their research before jumping into emerging markets. Big data and retail business intelligence might be able to help retailers prepare for their global ventures.

According to Retail Info System News, global companies competing for developing middle classes need information resources to help them navigate new waters. Data-driven insights are crucial for identifying strategies that work well in different cultures and among diverse populations, the source added. Consequently, merchants need access to information that can fuel useful retail reports to isolate and predict trends. When collecting their own information based on sales and initiatives in other countries, retailers require management software that is robust enough to consolidate large amounts of data and separate information if they want to analyze specific regions.

"The difficulty you face in emerging markets is the timing," Richard Titherington, chief investment officer of J.P. Morgan Asset Management, told the Wall Street Journal. 

Merchants need reporting tools to help them plan for rapidly changing conditions and to become familiar with new market environments.

This entry was posted by Retail Pro on Wednesday, March 5th, 2014 at 7:55 am .

In addition to serving as another channel for sales, the Internet offers valuable opportunities for retailers to spread the word about their stores and engage patrons. The nature of retailers' online presence can help shape the way customers view and trust their brand. That's why it's important for merchants to make sure shoppers have positive experiences on their websites, which should be supported by high-end ecommerce software.

According to a recent Peer 1 Hosting report, 76 percent of ecommerce marketers believe that website experiences have a direct impact on brand image and reputation. Because of this influence, merchants need to make sure their websites are designed to optimize the shopping process. The report explained that a user-centric approach can make a big difference in converting customers and earning revenue. The best websites have optimal shopping cart and check-out features, work well on mobile devices, load quickly, uphold top-end security and appear high in search results, the source added.

Promotion World indicated that security plays a significant role in earning patrons' trust and shaping their impressions. The source suggested bolstering retail websites with SSL (Secure Socket Layer), password protection, security icons, transparent privacy policies and fraud detection services. 

This entry was posted by Retail Pro on Wednesday, March 5th, 2014 at 4:14 am .

As ecommerce software provides greater security and more robust features, shoppers are increasingly trusting the channel and turning to online resources to complete transactions. According to a recent Javelin Strategy & Research report, the vast majority of consumers have shopped online, with 9 out of 10 having made a purchase in the last year. Only 7 percent indicated they had never shopped on the Internet, down from 22 percent in 2009.

As merchants bolster their online retail marketing strategies, customers are coming to expect greater service and convenience across platforms. 

"Ecommerce shoppers want convenience, they want speed, and they want security, and it is up to e-commerce platform vendors to provide merchants the tools to allow these wishes to be fulfilled in order for e-retailers to stay competitive," said Nick Holland, senior analyst, payments at Javelin Strategy & Research.

Tech Cocktail noted that the key trends for ecommerce this year include mobile, personalization, simplicity, speed, availability and enhanced experiences. Merchants rely on sophisticated ecommerce technology and well-planned marketing strategies to effectively engage shoppers and drive sales. To stay competitive, retailers should consider incorporating recent innovations into their online offerings, such as broader payment options like Google Wallet and MasterCard's MasterPass, Javelin advised.

This entry was posted by Retail Pro on Tuesday, March 4th, 2014 at 12:28 pm .

Retail marketing strategies aim to entice shoppers with appealing products and deals, but customer service is another crucial element of retaining patrons and driving profits. The quality of service is even more important in the UK than it is in the US, according to a recent NewVoiceMedia report. Merchants can stay competitive by implementing retail technology that empowers staff members to serve customers better. 

The NewVoiceMedia report indicated that 50 percent of UK shoppers tend to switch stores if they have a dissatisfying customer service experience. 

"While UK consumers are more likely to leave a company following poor service than those from the US, they share the same frustrations – not feeling appreciated as a customer, being kept on hold and having to repeat themselves to multiple agents," said Jonathan Gale, CEO at NewVoiceMedia. "Great customer service is the critical differentiator and investing in providing personalized and engaging customer experiences every time, through every channel, will help businesses succeed in retaining customers and securing new business."

A recent [24]7 study confirmed that the impact of frustrating experiences applies to ecommerce as well. The report said that one-third of shoppers take their business elsewhere after receiving poor service on a retailer's website. 

This entry was posted by Retail Pro on Tuesday, March 4th, 2014 at 12:28 pm .

Retail marketing has embraced a number of strategies to take advantage of the popularity of mobile devices. From mobile apps to location-based advertising to payment options, merchants can offer their customers convenient resources through their personal gadgets to seek information and complete transactions. Recent studies have shown the while consumers in the United Kingdom frequently turn to their smartphones while shopping, retailers could do more to capitalize on mobile opportunities.

According to Cheil Worldwide's 2014 Agile Consumer report, over 50 percent of smartphone owners in the UK take out their devices while shopping in physical stores, eMarketer reported. Much of this activity is aimed at researching more information about products, checking prices or taking pictures of items they are thinking of buying, the source explained. However, only 17 percent of the survey respondents admitted to finding the product on another retailer's website and buying it there.

Although respondents indicated that they are likely to return to a store if it sent personalized promotions to their phones, another study showed that UK retailers haven't focused on optimizing their mobile strategies. As Retail Gazette explained, a Forsee survey revealed that mobile sites tend to lag behind their desktop counterparts in terms of user experience. Retailers with ecommerce software should prioritize their mobile engagement resources to address growing smartphone use.

This entry was posted by Retail Pro on Tuesday, March 4th, 2014 at 6:22 am .

From omnichannel marketing to the customer experience, several buzzwords have emerged in the retail industry as key developments for the coming year. Merchants are focusing on ways to integrate their technology and operations across channels to create seamless customer experiences.

"2014 will not be the year for retailers to become complacent. As consumers seek a richer, more personal shopping experience, retailers need to be a few steps ahead and look for new ways to remain relevant to customers," said Scott Gillies, director of retail at Manhattan Associates.

To stay competitive, retailers should keep an eye on retail business intelligence, such as the following trends:

1. Greater degrees of personalization and targeted marketing. Retailers are using data analytics and retail technology to send promotions to individuals based on their shopping history and preferences. The Manhattan Associates noted that multiple channels for engagement, particularly online and mobile platforms, provide greater opportunities for merchants to collect information about their customers. By integrating this data into a single management system, retailers can optimize their marketing campaigns and plan better inventory strategies.
2. Faster fulfillment and delivery. With customers more interested in shopping online, merchants are finding ways to get purchases to consumers more efficiently. The Washington Post mentioned the rise of one-day delivery services, even among small "mom-and-pop" retailers. To keep these faster transactions possible, the Manhattan Associates said, retailers need technological solutions that provide comprehensive, up-to-date information about their inventory.
3. Social shopping and engagement. Merchants have already explored social media channels for advertising and establishing their brand image. The next step will be for retailers to offer options to purchase items directly through these channels, experts predicted. Chain Store Age also suggested merchants will take advantage of virtual currencies to create a more seamless shopping experiences on social networks.
4. Outlets and physical storefronts. According to The Washington Post, outlets are the fastest-growing sector of the retail industry right now, and they're moving to major cities. Other stores are using retail intelligence to make the most of physical locations. For example, the source explained that exercise apparel merchants are capitalizing on proximity to fitness centers for a steady customer base.
5. Experience and service-oriented. Merchants are offering exciting shopping experiences with retail technology and other perks. Retailers hoping to draw in families are adding attractions like Ferris wheels, and others are turning to services that can't be provided online, like hair salons and specialty restaurants, The Washington Post reported.

This entry was posted by Retail Pro on Monday, March 3rd, 2014 at 5:11 am .

Online commerce may have made significant gains, but retail customer trends point to the continued importance of physical store locations for merchants. In addition to preferring the brick-and-mortar experience for some products, customers are drawn in by on-hand merchandise and the convenience and novel experiences offered by retail technology. As multichannel strategies continue to merge into integrated marketing approaches, even previously online-only sellers are beginning to seek store space to take advantage of diversified opportunities, The Financial Post explained.

It's not just about having a store front, of course. Merchants need to find the right brick-and-mortar presence for their brand and customer base. For example, The Globe and Mail described how mid-rise project developers consider demographics and seek corresponding retailers to create the right overall experience in their completed projects.

"If you match the location with destination retailers, you can create character," Jason Lester, chief operating officer of Dundee Realty Corporation, told the news source. "Our strategy and approach is to define the type of retail that will go in on the ground floor."

In addition to integrated projects like Lester's development, merchants can draw on retail customer trends and business intelligence to identify areas where they'll be most competitive and isolate strategies that will appeal to targeted demographics.

This entry was posted by Retail Pro on Monday, March 3rd, 2014 at 3:19 am .

Online sales have become increasingly dominant over the last few years, and many retailers use ecommerce software to take advantage of multichannel marketing strategies. Just like store operations, however, websites need to be optimized to improve the customer experience and ensure a smooth shopping process from browsing to check out. Sites that take too long to load, have pages that are hard to navigate or purchase procedures with too many steps are more likely to result in abandoned shopping carts. A recent report by TrustInsight revealed that almost one-fifth of shoppers have had their credit cards declined, causing frustration and lost sales.

According to the report, one-third of these declines were unnecessary, resulting in customer frustration, increased costs for banks and lost revenue for merchants. One out of every six shoppers whose card was declined online gave up on the purchase completely, instead of trying a different card.

While cards can be rejected for a number of reasons, retailers need to take any measures available to reduce unnecessary declines on their sites. For example, they can make sure their ecommerce software is high-performance and supports up-to-date transaction processes. Marketing Land recommended optimizing retail websites by analyzing site metrics, such as add-to-cart, checkout and purchase rates.

This entry was posted by Retail Pro on Thursday, February 27th, 2014 at 8:12 am .

In addition to embracing online shopping options, customers have predominantly shifted away from paying in cash. According to Walker Sands' 2014 Future of Retail Study, 60 percent of shoppers carry less that $20 in cash at any time. Twenty percent don't carry any cash at all.

These figures point to the centrality of offering customers multiple payment options. Large retailers already accept credit and debit transactions, and many are embracing new retail technology, such as payment systems that allow consumers to use their smartphones to complete a purchase. However, all merchants should consider shoppers' payment habits and preferences to make sure they're not driving away sales opportunities. 

Beyond the decline of cash-based transactions, consumers' shopping preferences are changing, especially as they become more accustomed to the convenience offered by integrated multichannel approaches. Steven Barr, PricewaterhouseCoopers's U.S. retail & consumer practice leader, explained that consumers now take multichannel operations for granted and expect similar options across store platforms. Knowing these retail customer trends can help merchants stay competitive and optimize their marketing strategies. For example, the Walker Sands report found that 66 percent of online shoppers would choose to shop in brick-and-mortar stores if they offered mobile checkout. 

This entry was posted by Retail Pro on Thursday, February 27th, 2014 at 5:18 am .