People like to feel valued, whether it is within their personal relationships or the connections they make professionally. This rings especially true when it comes to consumers dealing with retailers – shoppers want to know their business is appreciated, and if they feel as though they are merely another customer instead of a valued patron, they could opt to go to a competitor. Therefore, making interactions more personalized has become increasingly important for merchants. Failing to do so could result in a loss of not only customer satisfaction, but sharp drops in retention as well.

However, with today's multichannel retail industry, companies have to ensure they are personalizing various elements both in their stores and on their websites. This isn't difficult if organizations follow several steps, and with the right effort and determination, every consumer will feel valued.

Personalization not a priority
Although many businesses are fully aware of the benefits that personalization provides, especially on the internet, there are only a few that are actually making digital interactions more tailored toward individual patrons. According to a recently released report by Econsultancy and Monetate, nearly all of companies surveyed (94 percent) stated they knew that offering more personalized communications on the web "is critical to current and future success."

However, more than half of respondents (56 percent) do not engage in personalized interactions with online consumers, the study revealed. One of the main reasons companies are not yet providing these kinds of conversations is because they are held back by technology. Managing IT systems and maintaining control over databases were some of the top cited obstacles to full personalization.

"It is quite clear that personalization is seen as mission critical to the success of online business but too many organizations have yet to implement a well thought-out and tested approach," said Linus Gregoriadis, research director at Econsultancy. "Those companies focused on delivering personalized customer experiences are realizing great returns in online sales and key website performance metrics."

It's all in the details
While incorporating the right technology is one of the key components to effective personalization, there are other strategies that retailers can follow to provide more engaging communications, both in stores and online. Direct Marketing News explains that gathering simple details about customers – such as name, address, birthday and past purchase history – businesses can apply this information to in-store conversations as well as email messages. Offering small gifts on birthdays or special occasions is one successful way to make shoppers feel more valued. 

This entry was posted by Retail Pro on Monday, May 20th, 2013 at 1:25 pm .

No one wants to be alone when running a retail business. Whether it's hiring employees or interacting with customers, merchants know how vital relationships are for keeping operations going. Another key group that retailers should connect with is  their peers – other company leaders and industry experts. By establishing and building upon these relationships, merchants can significantly help their businesses grow and succeed.

At this year's Retail Pro Global Conference, retail professionals will have plenty of chances to network with other attendees and create a new network of contacts on which they can interact with long after the conference is over. The event will take place in Barcelona, Spain, with the Business Partner Summit being held October 18-20 and the Customer Summit between October 20-22. Registration information can found at https://www.retailpro.com/Community/2013Conference/Registration.php.

Entrepreneur Magazine offers some tips on how professionals can effectively network to help their own operations succeed. The source recommends that company leaders "seek engagement," meaning that retailers should meet or talk regularly with contacts to maintain valuable relationships. In addition, merchants can share their stories and in turn, hear the lessons other professionals learned along the way. This dialogue is key to great networking and helps businesses gain insight into the retail industry that will be essential for years to come.

This entry was posted by Retail Pro on Monday, May 20th, 2013 at 8:04 am .

When it comes to the amount of information that retailers deal with on a daily basis, the list can seem endless. Details about customers and their past purchases, product preferences and future demand trends, along with data related to finances and operations, is just some of the information merchants handle. In the past, keeping track of all this data was usually done through manual processes, but with the emergence of technology, many businesses are turning to retail management systems to collect, store and access all of the information they need to keep their companies running effectively.

For this reason, it is vital that merchants adopt business intelligence tools that allow them to review and analyze all of the data pertaining to their operations. By doing this, retailers can ensure they are successful by leveraging the most up-to-date and accurate information to improve their processes.

Business intelligence solutions bring in results
Merchants want to be sure they are using captured information to enhance their operations in some way, whether it's through better customer engagement, product development or inventory procedures. Business intelligence tools are the key to running successful stores and websites, according to Cisco. Having a solution in place that allows retailers to gather information and then store it for later access is one of the best ways that companies can pinpoint any areas for improvement and find their strengths, giving their organizations the chance to enhance product offerings and customer experiences.

Cisco notes that data can be collected through a variety of platforms, whether it's in stores, on merchants' web platforms and even on social media sites. Once details are garnered, businesses will want to be sure they are entering the information in an easy-to-use, secure solutions that compiles the data and then allows merchants to visualize metrics. This gives companies the ability to see firsthand the most important details relating to their operations and allows them to make more informed decisions.

All processes can benefit from business intelligence
While a variety of operational processes can be enhanced through increased business intelligence – such as customer management and market demands – perhaps one of the most important aspects that can benefit from these tools is inventory procedures. Overseeing the supply chain is vital for keeping companies running, and Supply Chain Digital explains that technology offers key performance indicators, successful frameworks and other metrics for merchants to boost their inventory oversight. Data can be pulled from multiple sources, allowing retailers to see which products are being bought and which ones customers will want in the near future, the source writes.

This entry was posted by Retail Pro on Monday, May 20th, 2013 at 7:12 am .

Shopping online provides consumers with many advantages, including more convenience, easier product comparison and fast transaction processing. These are just some of the reasons why a number of people prefer to browse for and purchase merchandise online, and mobile devices are making web shopping even better.

Internet Retailer reports that according to recent research from comScore, customers increasingly took to their computers during 2013's first quarter to buy products. The study revealed that throughout the first three months of this year, consumers spent a total of $5.9 billion online, representing a 13 percent jump from the same time in 2012. For the first time, comScore also looked at how individuals used their mobile devices to conduct their internet shopping. The research found that $5.9 billion was spent through smartphones and tablets in the first quarter. Analysts expect this amount will continue to rise in the future, the source notes.

Although ecommerce will most likely grow significantly over the coming months and years, consumers still like to visit retailers' brick-and-mortar locations to find and buy the items they want. To accommodate both groups of patrons, merchants can implement point of sale solutions that are able to process payments in-store, online and through mobile devices.

This entry was posted by Retail Pro on Friday, May 17th, 2013 at 3:59 am .

Mobile devices have been proving for years that they can significantly help users to conduct a variety of functions and improve their productivity, whether it's checking on finances, browsing online or keeping in touch with others. Now as smartphones and tablets are making their way into the business world, retailers are beginning to take notice by adopting these gadgets for their own benefit.

Wired writes that one of the ways in which merchants are using mobile devices is by equipping sales associates with them so they can answer customers' questions, look up information and even process payments. Analysts expect the trend to grow significantly over the next few years as shoppers and companies realize the advantages of using smartphones and tablets in storefronts, the source explains. The gadgets are not set to replace traditional point of sale systems, but will complement them. Merchants can leverage both payment processing methods by also incorporating a retail management software solution to oversee all transactions.

Although traditional POS platforms won't be going anywhere, the emergence of mobile solutions is forecast to alter the retail industry, according to VentureBeat. Not only will associates be able to accept payments from consumers while on the sales floor, but the entire shopping experience will be changed as patrons now have access to more information about products and services than ever before.

This entry was posted by Retail Pro on Thursday, May 16th, 2013 at 11:54 am .

Consumers have long been moving away from using cash to pay for purchases at retail stores, and with the rise of ecommerce, many shoppers have increasingly turned to credit and debit cards to buy the items they want. And another payment form – mobile – is changing the way that individuals complete transactions, meaning that companies need to adopt solutions now that can accept all methods.

A recently released report from Statistics New Zealand stated that during April, consumers boosted the use of their credit and debit cards to purchase merchandise from a variety of retail sectors. Card spending in the country rose 0.6 last month from March, and many analysts attribute the rise to more trading days than usual in April due to early Good Friday and Easter. Some of the sectors that experienced increases in card transactions were clothing retailers, footwear merchants and furniture sellers.

This boost in credit and debit card spending isn't limited to New Zealand, as retailers across the globe are seeing the rise as well. Coupled with a jump in mobile payments, merchants need to act now to incorporate point of sale systems that can accept all forms of transactions. By doing this, businesses can be sure they are accommodating patrons effectively, helping to improve retention and loyalty rates.

This entry was posted by Retail Pro on Thursday, May 16th, 2013 at 10:28 am .

As temperatures rise and the summer vacation season gets closer, American consumers are feeling more confident in their own financial conditions as well as the nation's economy. This optimism is visible in recent retail sales, which increased between April and March, and are expected to keep growing over the next few months.

The Associated Press notes that the latest statistics from the International Council of Shopping Centers revealed that April sales among retailers that have been open for at least one year jumped 4.7 percent when compared to the same time a year prior. These merchants, as well as big-name brands such as Wal-mart, Target and Macy's, reported strong sales last month, which most analysts believe is fueled by the nation's improving employment sector and rises in worker wages for many Americans, the source explains.

These positive numbers come after a less-than-stellar March, in which retail sales fell 0.4 percent from the previous month, the AP reports in a separate article. Data from the Commerce Department showed that the decline followed a gain of 1 percent in February. This led many analysts to believe that consumers were once again reining in their spending due to payroll tax increases and sluggish economic recovery. However, April's numbers are giving retailers hope that a solid summer season is on the horizon.

This entry was posted by Retail Pro on Thursday, May 16th, 2013 at 8:35 am .

There are many technological tools that can help retailers keep their operations running effectively, and while many merchants implement these systems individually, it is best to adopt a solution that meets all business needs through one platform. This is what Retail Pro 9 does for companies, and interested industry professionals can learn all about this technology tomorrow at the Retail Pro 9 webinar taking place from 8 a.m. to 9 a.m. PDT. Registration information can be found at https://www2.gotomeeting.com/register/967389946.

There are many benefits that merchants can experience firsthand when using Retail Pro 9, one of which includes its ability to handle both domestic and international retail operations. Companies no longer have to worry about using different systems to manage their processes in foreign markets, as Retail Pro 9 can process multiple currencies, comply with local tax laws and be customized in a variety of languages. This is especially important in an increasingly global economy.

Attendees will also be able to see a live demonstration of Retail Pro 9, as the webinar will be presented by the Director of Retail Pro University, Ket Venethongkham. He will cover certain features of the platform, including how retailers can use it for customer management, inventory control and metrics reporting.

This entry was posted by Retail Pro on Wednesday, May 15th, 2013 at 1:28 pm .

Having solid management practices in place is essential for retailers to keep their businesses running effectively. To make these strategies even stronger and boost operations, merchants can implement retail management software to oversee all aspects and factors of both in-store and online processes. Retail Pro 9 is just the system for retailers, and interested industry professionals can learn all about this platform at this week's webinar.

Taking place Thursday, May 16, from 8 a.m. to 9 a.m. PDT, this online event will showcase the various features, benefits and capabilities of Retail Pro 9. Registration information can be found at https://www2.gotomeeting.com/register/967389946.

Ket Venethongkham, Director of Retail Pro University, will be presenting the webinar. Attendees will have the opportunity to see Venethongkham demonstrate how Retail Pro 9 provides retailers with a variety of advantages for their operations, including its ability to manage all point of sale procedures, both online and in-store. The platform also serves as a tool for overseeing all customer retention and loyalty initiatives, providing merchants with key performance indicators and various other metrics.

All of this and much more will be presented live at this Thursday's webinar, so interested retailers need to be sure to sign up now for a spot!

This entry was posted by Retail Pro on Wednesday, May 15th, 2013 at 10:34 am .

Chilly weather is still lingering for many regions across the United States, and this is affecting retail sales. Despite the upcoming summer season, the remaining colder temperatures are changing the way that consumers are buying items from merchants. However, businesses are optimistic that their merchandise for warmer months will soon be purchased as the weeks go on.

MarketWatch reports that data from Weather Trends International revealed that last month was the coldest April on record for the past 13 years. Snow and lower-than-normal temperatures kept many Americans inside and curbed their spending on summer-related items. This in turn forced many retailers to re-adjust their first quarter profit predictions. Because of this, analysts now expect that retail sales during April will only increase 3.6 percent from the previous month compared to the initial forecast of 4 percent, according to Retail Metrics.

For several regions, however, warmer weather is here to stay, and retail sales are boosted because of the nicer temperatures. In a separate article, MarketWatch reports that merchants in California are benefiting from the above average conditions in the state during the past month. Businesses have stated that purchases for summer-related products have jumped, and it has provided a "bright spot" for their sales totals, the source notes.

This entry was posted by Retail Pro on Wednesday, May 15th, 2013 at 4:53 am .