When taking a look at the current landscape of consumer sentiment across the United States, retailers may be a bit confused – recent reports have shown that consumers are increasingly confident in the nation's economy and their own financial conditions, but at the same time, they are curbing their retail spending.

Bloomberg reports that according to the latest Thomson Reuters/University of Michigan consumer sentiment index, the figure for May rose to its highest level in six years, coming in at 84.5. This is also a strong increase from April, when the index stood at 76.4. Analysts speculate that there are several factors which contributing to the boost in confidence, some of which include an improving housing market and solid stock prices, the news source explains.

On the other hand, this optimism does not seem to be fully translating into higher sales for the country's merchants. The Los Angeles Times states that the most recent data from the Commerce Department revealed that Americans reduced their spending in April by 0.2 percent. Economists said that a lack of growth in personal income was mainly to blame for the drop, as shoppers had less money to spend on discretionary items, the source reports.

This entry was posted by Retail Pro on Friday, May 31st, 2013 at 12:51 pm .

When Internet shopping first became popular, there was a clear distinction between going online to browse for and purchase products and doing the same at retailers' brick-and-mortar locations. However, merchants with physical storefronts quickly realized the benefits of having both options available for patrons, and now, ecommerce companies are increasingly opening up stores to accommodate consumers.

Going offline has resulted in many advantages for merchants that were previously only on the Internet, writes Forbes. While consumers do prefer the convenience that ecommerce provides, there are times when individuals want to visit physical storefronts to test out products and get quick answers to their questions, the source explains. Another reason why web retailers are making the move to brick-and-mortar is the fact that most store-only companies have launched their own websites, giving themselves a leg up over their strictly online counterparts. To attract new customers and satisfy existing patrons, ecommerce businesses are going off the Internet.

Learning to oversee aspects of both in-store and online operations can seem daunting for many companies, but by adopting an effective retail management software solution, merchants can maintain control over both channels while having access to important data and details.

This entry was posted by Retail Pro on Friday, May 31st, 2013 at 12:06 pm .

When it comes to shopping online, many consumers prefer this channel as it provides more convenience, fast transactions and easier product comparison. However, perhaps one of the only downsides to ecommerce is the fact that customers can't actually try out or see an item firsthand before making a purchase. While many patrons are satisfied with merchandise bought online, there are some who return their products, creating somewhat of a headache for retailers.

Internet Retailer reports that there are several reasons as to why customers may want to return an item. It could be because merchandise descriptions on businesses' websites are not detailed enough and fail to give shoppers all the necessary information. It also could be due to ineffective customer service or inaccurate processes within the shipping and delivery phases. Whatever the issue, merchants want to combat rising return rates, and the source suggests that companies can do this by implementing the most up-to-date technology solutions to ensure that all data is correctly recorded and analyzed.

By having access to information related to product returns, firms can pinpoint any problem areas and make improvements. Adopting an effective retail management software solution can keep all data in one place, giving merchants more insight into their sales and return rates.

This entry was posted by Retail Pro on Friday, May 31st, 2013 at 8:58 am .

The past few months have not been encouraging for retailers in the United Kingdom, as sales have been less-than-stellar. The most recent data shows that sales dropped at the fastest pace in more than a year, resulting in a dismal outlook for British merchants.

PressTV reports that statistics from the Confederation of British Industry (CBI) revealed that retail sales dropped to -11 this month from -1 in April. This was much lower than analysts' expectations of a positive balance of 3, the source notes. There were several reasons given for the sharp decline, including lingering consumer hesitance from the economic recession.

"Retail sales growth has weakened since the start of the year as households continue to feel the pinch, with wages failing to keep pace with the cost of living," said Barry Williams, chair of the CBI Distributive Trades Survey Panel.

Separate research found that in 2012, shoppers in the U.K. held back on using cash for retail purchases and instead swiped their debit and credit cards both in stores and online, Financial Times reports. A study from the British Retail Consortium found that cash declined 10 percent year-over-year. This could be key for merchants looking to boost their sales. Offering point of sales solutions that provide fast and easy transactions could accommodate customers who prefer to pay with cards.

This entry was posted by Retail Pro on Thursday, May 30th, 2013 at 10:26 am .

Cash transactions were the norm within the retail industry for many years. Then along came credit and debit cards, which were beneficial for both businesses and consumers in that these products allowed merchants to quickly process payments and shoppers to keep accurate track of their finances. Now, mobile is making its way into the realm, and just as companies had to implement systems to accommodate card-carrying patrons, they will have to do the same with mobile payments if they want to satisfy consumers who prefer to use their smartphones and tablets for buying merchandise.

Mobile growing around the globe
While the United States has seen rapid adoption of mobile payments from both retailers and consumers, the technology is one that has spread across the globe. As individuals continue to use these gadgets in their daily lives, they are realizing that smartphones and tablets can be incredibly convenient when it comes to getting some shopping done. To retain customers who use their mobile devices and attract new ones, companies are implementing systems that accept payments from these devices.

Storefront Backtalk reports that research from the IHL Group revealed that mobile is a priority for many retailers this year. The study found that 28 percent of businesses have plans to incorporate mobile payment solutions into their operations by the end of 2013. By doing this, companies will be able to reduce the lines at checkout and boost satisfaction among customers.

Some within the retail industry may think that the fast adoption of mobile payments will spell the end for other payment forms, such as cash and credit and debit cards. However, that is certainly not the case, the source notes, as the IHL Group research discovered that 85 percent of big-name brands that have or will implement mobile payments technology said that the solutions will be used as an "add-on" to current checkout processes.

Mobile payments for all business sizes
It's not only larger merchants that are adopting mobile technology, as a study by Constant Contact found that one in five small businesses are currently using a solution that accepts payments from devices.

It's apparent that mobile payment systems are quickly becoming useful for merchants, so making the move now is the best way for companies to ensure they are able to accommodate customers regardless of  their payment preference.

This entry was posted by Retail Pro on Thursday, May 30th, 2013 at 10:19 am .

Every retailer knows that without networking with industry peers, businesses may not fulfill their full potential. Establishing relationships and maintaining contact with other merchants is an effective way for retail leaders to stay on top of trends and other issues that are impacting the sector. At this year's Retail Pro Global Conference, Retail Pro Business Partners and Customers will have plenty of opportunities to network with other attendees and build their knowledge of the industry.

The 2013 Retail Pro Global Conference will be held in Barcelona, Spain, with the Business Partner Summit taking place October 18 – 20, and the Customer Summit will be October 20 – 22. Registration can be found at https://www.retailpro.com/Community/2013Conference/Registration.php.

So how can retailers ensure they are making the most out of their networking opportunities? In an article for Broomfield Enterprise, Mike Saunders said that networking can lead to business success if professionals follow a few simple steps, including being interested in what peers do and how certain technologies and processes help their operations. Frequently communicating with these connections can help merchants collaborate with each other and learn about new trends and techniques to boost their companies, Saunders notes. 

This entry was posted by Retail Pro on Thursday, May 30th, 2013 at 6:13 am .

Retailers around the globe know how important ecommerce is for their businesses, but some may think that it could be a fleeting trend, meaning that merchants are not investing in solutions that meet consumers' online shopping needs. However, ecommerce is poised for even more growth in the future, and failing to implement systems that accommodate online patrons could spell disaster for companies.

As internet shopping continues to become more popular among customers, both through computers and mobile devices, merchants need to ensure they are adopting the right retail management software solutions that can provide consumers with excellent online experiences, helping to boost businesses' retention rates and bottom lines.

Q1 sees significant ecommerce increase
Over the past few years, retailers have seen large jumps in ecommerce within their operations, as shoppers have taken to the web to browse for and purchase products. Statistics from many organizations have highlighted this growth, including recent data from the U.S. Commerce Department. Internet Retailer states that the research from the federal agency revealed that online shopping during this year's first quarter increased 15.3 percent from the same time last year, representing a total of $58 billion spent through the web.

The source explains that these findings were generated from sales made on both computers and mobile devices such as smartphones and tablets. Mobile ecommerce is making its way to the forefront of the retail industry, as many consumers now prefer to use their devices to research and buy items from merchants. This practice is even found within brick-and-mortar locations, as smartphone-carrying shoppers are using gadgets to pay for merchandise at storefronts.

Practical Ecommerce reports that the IBM Online Retail Index found that mobile commerce grew 31 percent during the first three months of the year when compared to the same time in 2012. This jump has been brought on by individuals' preference for multichannel sales, IBM discovered.

"The shopping experience has evolved. No longer can we look at shopping in silos, or in terms of in-store versus online. Instead, we have to consider the convergence of these channels, as the digital consumer demands a truly digital experience," said IBM Global Retail Leader Jill Puleri, as quoted by the source.

To help meet customers' needs when it comes to online and mobile shopping, merchants should adopt retail management software platforms that can effectively control point of sales processes, sales orders and many other operational factors.

This entry was posted by Retail Pro on Wednesday, May 29th, 2013 at 11:49 am .

There are many processes and procedures that retailers decide to change with the goal of improving operations. These alterations can be based on consumer demands, market fluctuations, expanding operations and other factors. This is certainly true when it comes to ecommerce, as this channel is increasingly preferred by customers, and merchants need to keep up with what shoppers want and need through internet platforms.

Changing ecommerce platforms could be a necessity for many businesses, especially as new technologies shift the way that consumer use websites to browse for and purchase products. While doing away with an old system and implementing a new one may seem like it could be a headache for retailers, it doesn't have to be, Internet Retailer reports. Several industry experts stated that adopting new solutions requires teamwork from entire companies, from executives down to sales associates. Getting input from every department will help merchants determine which systems and features will best benefit their operations, all while still providing excellent experiences for customers.

Of course, it is vital that retailers take the time to choose an ecommerce platform that meets all of their needs. Having mobile point of sale capabilities, easy website management tools and other internet features are just some of the considerations that merchants should keep in mind when switching ecommerce platforms.

This entry was posted by Retail Pro on Wednesday, May 29th, 2013 at 11:24 am .

The economic recession hit many sectors throughout the country hard, but perhaps none more so than the retail industry. Merchants saw their sales drop, which had an impact on the nation's overall conditions. Fortunately, things are looking up for the sector, although there are several opinions on exactly how strong the industry currently is.

In an article for the San Antonio Business Journal, Tricia Lynn Silva writes that many of the most recent opinions from retail experts come from April's sales. There are several reports that measured last month's amount, with one being statistics from the International Council of Shopping Centers (ICSC) which state that retail sales rose 2.7 percent year-over-year. On the other hand, the National Retail Federation reports that sales increased 4.6 percent Between last month and April 2012. 

While both percentages are positive, the one from ICSC indicates that April was an "o.k. month," and the NRF findings are more positive strong, Silva writes. However, the overall opinions of retail industry experts are encouraging, the author explains, and many believe that the retail sector is poised for solid growth over the coming months.

This entry was posted by Retail Pro on Tuesday, May 28th, 2013 at 10:22 am .

Without consumer purchases, retailers know they wouldn't last long. That is why many merchants were concerned about their operations during the U.S. economic recession, and it's also why many businesses are breathing a sigh of relief as customers are coming back into their stores and logging onto their websites.

Bloomberg reports that according to the Thomson Reuters/University of Michigan Consumer Sentiment Index, May showed a robust growth in optimism among Americans. The index increased to 83.7 for the month from April figure of 76.4. This beat analysts' expectations of 82.5. The source explains that the latest index is far better than the average figure that was seen during the recession, which stood around 64.2 until the downturn ended in June 2009.

This strong boost in confidence is certainly expected to have an impact on the nation's retail sales, which will further help to improve the economy. April was a good month for merchants around the country, as Voice of America reports that data from the Commerce Department showed sales totals rose 0.1 percent in April from March. While it's not significant growth, analysts do expect more increases in the coming months.

This entry was posted by Retail Pro on Friday, May 24th, 2013 at 1:40 pm .