When consumers are out and about on shopping excursions, they often look for posters and banners displayed at retailers' locations letting them know about deals, specials and sales that are currently going on. While this is still an effective way to draw in passers-by, the rise of smartphone use has given merchants another tool for capturing potential patrons' attention.

Recently released research from CouponCabin.com revealed that shoppers are beginning to prefer receiving or looking up location-based deals on their smartphones when they are near physical storefronts. Of the people that responded to the survey, nearly seven in ten said they would like apps on their smartphones to alert them to nearby discounts. There were several reasons why individuals stated they would like to be notified of retailers' sales and offerings, including added convenience (44 percent) and the ability to use coupons to save money (40 percent).

Once these shoppers are in brick-and-mortar locations, businesses can turn them into loyal patrons by offering other mobile options so they can keep using their smartphones. Mobile POS solutions, which are effectively managed through retail point of sale software, give consumers the chance to further utilize their devices to find the products they are looking for.

This entry was posted by Retail Pro on Monday, May 6th, 2013 at 6:53 am .

The use of mobile devices for researching and purchasing retail products has grown significantly over the past few years as consumers have utilized smartphones and tablets to get their shopping done. These gadgets gives individuals the ability to browse for and buy items no matter where they are and what time of the day it is. This has presented merchants with a plethora of opportunities for reaching out to consumers, improving retention and building loyalty.

While both devices are being used by customers for these purposes, one gadget is steadily gaining ground over the other when it comes to popularity – tablets. Shoppers are taking up tablets more so than smartphones to  interact with retailers. This means that businesses need to make the move now to implement technology and solutions that accommodate tablet consumers. This can come in the form of point of sale systems, targeted marketing messages and loyalty programs, among other elements.

Tablets bring in sales for retailers
According to a recently released report by J.D. Power and Associates, tablets are increasingly being used to access merchants' websites and purchase products and services. The study looked at individuals who own both a tablet and a smartphone as well as those who share their tablet devices with at least one more person in their household.

For the former group, the research revealed that these consumers spend 36 percent more time browsing ecommerce sites on tablets than on their smartphones. Of the owners surveyed, more than half (51 percent) share their devices with at least one family member.

So what do these findings means for businesses? For one, the amount of time that individuals spend on tablets should be considered when merchants are developing marketing and loyalty strategies. Companies will want to make sure that the content and other elements they deliver are optimized for tablets and that their ecommerce platforms allow for effective navigation for shoppers. As for devices that are shared, analyzing the data of individuals that utilize these shared tablets will be key to creating successful marketing and loyalty programs.

Internet Retailer reports that research from Adobe Systems revealed that while smartphones are still used for browsing, comparing and purchasing items, tablets are used more frequently for these tasks as they provide larger screens as well as easier navigation features. Smartphones, on the other hand, are utilized by potential patrons for faster processes, like looking up stores' locations or researching merchandise prices.

This entry was posted by Retail Pro on Thursday, May 2nd, 2013 at 11:23 am .

In the not-so-distant past, retailers saw a significant change in the way that consumers pay for items at their stores. Credit and debit cards hit the market, and soon they were prevalent everywhere. Now, another shift is on the horizon in the form of mobile payments, and to help accommodate all shoppers, merchants can greatly benefit from using retail point of sale software to effectively manage and process transactions.

VentureBeat reports that a study by Javelin Strategy and Research revealed that mobile payments are set to grow exponentially over the next few years as consumers begin to prefer using their smartphones and tablets to pay for retail merchandise. This trend is forecasted to occur both in brick-and-mortar locations as well as online platforms. The research estimates that in 2018, mobile payments could reach an approximate total of $1.1 trillion. Taking a look at these findings, retailers should act now to implement technology to accept a variety of payment methods, whether it's from credit and debit cards or mobile devices.

This is where point of sale software can significantly boost operations for companies. Besides being able to process several different payment forms and enhance customer satisfaction, merchants can also maintain control over their finances through the use of these software solutions. All of the elements related to accepting transactions are stored in one place, helping to improve efficiency. 

This entry was posted by Retail Pro on Thursday, May 2nd, 2013 at 7:12 am .

Big Data is a term that has been used a lot recently, as businesses are learning how to take advantage of the information they have to improve upon their operations. Big Data is making its way into the retail industry, as merchants are learning how to analyze information related to their customers, their sector and many other factors to enhance their strategies.

According to recent research from Monetate, the rise of online commerce has resulted in more Big Data use by retailers. But just how are they taking advantage of this valuable resource to drive their products, offerings and functions? The research revealed that as consumers are frequently using their mobile devices, as well as computers, to shop for and purchase merchandise, businesses are gathering the data from these transactions to gain more insight into what consumers' want and need. Elements such as social media, loyalty programs and review sites are also providing companies with essential Big Data, the source points out.

Monetate found that merchandising is the top initiative that retailers want to improve through Big Data, with 62 percent of merchants giving this response. This was followed by marketing campaigns at 60 percent and multichannel strategies at 44 percent. One tool that could significantly help companies with their Big Data use is retail management software, as these platforms give organizations one solution for maintaining all of their vital processes and procedures.

This entry was posted by Retail Pro on Wednesday, May 1st, 2013 at 11:40 am .

The road to full economic recovery has been filled with ups and downs, and the American retail industry is one sector that has certainly felt these effects. The last months of 2012 and the first months of this year have been giving businesses a hazy picture of how long it will take until conditions fully improve.

According to Bloomberg, the latest data from the Commerce Department revealed that the nation's economy had solid growth during 2013's first quarter, especially when compared to the fourth quarter of last year. Gross domestic product increased at a 2.5 percent annual rate during the first three months of 2013, significantly surpassing the previous quarter's figure of 0.4 percent. The statistics also included the fact that consumer spending jumped at the start of this year, rising 3.2 percent from 2012's fourth quarter. The source noted this marked the biggest growth in consumer spending since the last quarter of 2010.

On the other hand, recent research of Americans' sentiment toward the economy dropped in April, providing a confusing look into the ongoing recovery. In a separate article, Bloomberg reports that the Thomson Reuters/University of Michigan consumer sentiment index fell from 78.6 in March to 76.4 for this month.

This entry was posted by Retail Pro on Wednesday, May 1st, 2013 at 9:26 am .

Individuals are still using cash to pay for products and services, but the emergence of new technology has catapulted the popularity of card purchases, and mobile payments is following close behind. If retailers fail to implement systems capable of processing a variety of payment methods, they risk significant losses in customer retention and loyalty.

According to recently released report from Javelin Strategy & Research, the retail point of sale market is rapidly changing, and if businesses don't adapt to it, their operations could suffer. The study estimates that mobile payments will reach $5.4 billion over the next five years. While individuals will still pay with cash, and more so with their credit and debit cards, mobile devices will be the driver behind this payment trend as it provides more convenience not only for patrons, but for merchants as well.

With these findings, and similar results from other studies, it should be apparent that retailers need to make the move now to implement point of sale software into their operations. By doing this, companies can ensure they are able to accept a variety of payments from customers, accommodating individuals making purchases with cash, cards or their mobile devices.

This entry was posted by Retail Pro on Wednesday, May 1st, 2013 at 8:15 am .

As store and online operations expand, retailers look for solutions that can fit their needs and grow with their business at the same time. Retail Pro Prism provides all of these capabilities and much more for merchants by offering a system that serves as a flexible and easy-to-use platform for companies' essential functions. Interested retail industry professionals can learn all about Retail Pro Prism this Thursday, May 2, during the webinar devoted to the technology. The online event will take place between 8 a.m. and 9 a.m. PDT. Registration information can be found at https://www2.gotomeeting.com/register/853149218.

Attendees of Thursday's webinar will be able to see firsthand the various features and benefits of Retail Pro Prism. For example, the technology provides users with a flexible user interface that is able to be adapted to the many needs of retailers. In addition, Retail Pro Prism offers real-time communications for businesses and gives them the ability to keep all of their operational data up-to-date to ensure ultimate accuracy.

Retail Pro Prism also streamlines retail point of sale processes by storing all transactional information in one place. This allows companies to monitor and track customer spending, making inventory procedures and service strategies more efficient. All of these capabilities and more will be covered at the webinar on Thursday, which will presented by Director of Retail Pro University.

This entry was posted by Retail Pro on Tuesday, April 30th, 2013 at 1:58 am .

It's been an ongoing struggle over the past few years, but it seems as though Canada is on a solid track to fully recover from the negative effects of the global economic recession. One indicator of strong improvement within Canada has been its recent retail sales volumes.

According to the latest data from Statistics Canada, retail sales throughout the country increased by 0.8 percent in February from the previous month. This represents an approximate total of $39.5 billion in transactions. The research revealed that sales jumped in eight of the nation's 10 provinces, including Alberta, Manitoba, British Columbia, Ontario and Quebec. These findings highlight the fact that Canadian consumers are becoming more confident in the economy as well as their own financial conditions.

In January, retail sales also increased, following several months of declines at the end of 2012. CBC News reports that sales volumes rose 1 percent from December, beating analysts expectations of 0.9 percent. If these figures continue to improve in Canada, retailers can adjust to boosts in consumers spending by incorporating retail POS software into their operations.

This entry was posted by Retail Pro on Friday, April 26th, 2013 at 10:20 am .

Retailers know that their employees play a vital role for their operations – these workers deal daily with customers, keep track of inventory and handle financial processes, among other tasks. For this reason, merchants are looking for talented and trustworthy staff members who will help their businesses grow. Unfortunately, many companies have hit a snag when it comes to bringing on new retail employees.

According to Bloomberg, statistics from the Labor Department show that during March, the retail industry lost an approximate total of 24,000 jobs, the largest monthly decline in more than a year. The source explains that the payroll tax increases along with government fiscal policies are resulting in decreased consumer spending, which is in turn causing many merchants to reduce their workforces.

However, as the economy continues to improve, businesses will be looking to add more employees, and Entrepreneur Magazine writes that Millennials are a group that should be the focus of retailers to recruit and hire. The news source points to suggestions from the National Retail Federation, recommending that merchants should consider bringing on these younger professionals as they are looking to make a difference at the beginning of their careers. This will help fuel innovation and boost customer relationships, the source explains.

This entry was posted by Retail Pro on Thursday, April 25th, 2013 at 11:20 am .

It seems as though nearly everyone has a mobile device these days, as smartphones and tablets are providing more convenience for users. This technology is making its way into the business realm, and consumers are accessing the gadgets for a variety of purposes. Merchants have begun to take notice of the influx of customers who bring their devices into storefronts as well as use them to make product purchases when they are away from their home and work computers.

Because smartphones and tablets are growing in importance within the retail industry, companies are now looking at how the gadgets can be used to boost retention and loyalty among patrons, both those who visit brick-and-mortar locations and those who prefer to get their shopping done online.

How are mobile devices used for shopping purposes?
It's easy to see why consumers use mobile devices while on the go – they provide convenience for getting tasks done, such as managing finances, sending emails, staying in touch and much more. Now purchasing retail products from smartphones and tablets has become another aspect that individuals are using this technology for, and many merchants are accommodating patrons by offering mobile optimized websites and applications.

But what about when people bring their devices into stores? Wireless Ronin Technologies writes that research from ClickIQ revealed the top uses for these gadgets in retail stores, and 61 percent of customers stated they access their smartphones and tablets in brick-and-mortar locations to conduct product research. One-quarter of respondents said they scan bar codes, while 18 percent scan QR codes and 8 percent send images of products to family or friends.

Using mobile to improve sales, loyalty
So what do these findings mean for businesses? The results point out that mobile devices are great tools for enhancing customer relationships and capturing additional sales. Wireless Ronin suggests that in order to boost retention and loyalty, companies need to think beyond providing mobile sites and apps for online shoppers. They also need to offer solutions for patrons using mobile devices in their stores.

The source explains this can be done by developing location-based deals and discounts that are redeemable through consumers' gadgets. Having games and other interactive elements that require the use of smartphones and tablets is another way to improve loyalty and revenues.

In addition, merchants can also offer mobile POS systems that allow customers to pay with their devices, which creates faster and more efficient transactions for all parties.

This entry was posted by Retail Pro on Thursday, April 25th, 2013 at 8:23 am .