Retail Omni-Channel Strategies

Photo of Leslie HandOffline

NRF reported that more than 33,000 individuals, 3300 retailers and 94 countries were represented at the NRF BiG Show 2017, in NYC's Jacob Javitz Conference Center, January 15 -17, 2017. The top theme – enabling the blending of the digital and physical so that customers can engage with retailers in the stream of life. Technologies featured included everything from shopping at home via voice interactions through completely automated biometric based purchases.


Photo of Leslie HandOffline

10 Predictions for the Retail Industry

By Leslie Hand – 4 Comments

Retail leaders determined to disrupt and create sustainable competitive advantage will engage in digital transformation (DX). They will recognize that digital transformation is much more than applying incremental technologies at the edge to create new experiences. Digital transformation requires holistic redesign of business strategy/leadership, business processes, human engagement (workforce and others), information monetization, and technology.


Photo of Leslie HandOffline

Is the fact that payments fraudsters will have to go online to perpetrate crimes against your customers if EMV capabilities are implemented in store really a good rationalization for not moving forward with new EMV payments terminals and fully encrypted payments processes? If you had water leaking from a hose in two places, would you not fix one problem, for fear the water pressure would push more water through the other hole? Well, perhaps in the latter case, you would buy a new hose, and there is a similar corollary in retail payments. Multiple security holes should be treated with multiple tactics to improve enterprise security, but every attempt should be made to secure transactions and data everywhere vulnerabilities exist. There is absolutely a cost consideration at hand, but there is an even greater risk of not doing everything possible to plug the big holes.


Photo of Leslie HandOffline

We are still in the midst of arguably the busiest holiday shopping weekend of the year, but sales reports for online shopping indicate that online sales records are being set in the US and Europe. Sensationalist or not, video of crowds fighting over deeply discounted products in physical stores, keep shoppers who prefer a more relaxed experience at home, and the big beneficiary may once again be Amazon, at least in terms of year over year growth. Today is also Small Business Saturday, but not surprisingly, these businesses escape the in store boxing matches, and may be big online beneficiaries as well - at least from a year over year same store growth perspective.


Photo of Leslie HandOffline

IoT Primer for Retailers

By Leslie Hand

Not a new concept, the Internet of Things (IoT) is already ever present in the lives of consumers and is being applied in retail to increasingly improve the customer experience. Consumers expect that within five years, retailers will engage them with personalized and contextualized interactions. In the same time frame, if the retailer hasn't figured out how to improve real-time inventory accuracy to 98% or better, it will struggle to close the online or click-and-collect sale. The bottom line is, retailers can improve operations, reduce risk and loss, and wow the consumer with IoT-enabled capabilities.


Photo of Leslie HandOffline

We spend a lot of time talking about how the consumer is driving a significant transformation in retail - the consumer's experience is fluid, digital / physical convergence is assumed and omni-channel is a way of shopping (albeit absent from their lexicon). The retailer needs to capitalize on the opportunity - of the shopper that is always just a few short clicks or steps away from their next purchase – because the shopper just may be shopping somewhere else. And surprisingly, some retailers are still wading through omni-channel project prioritization and justification phases. They are stalled for lack of clarity or for lack of budget, despite seeing the writing on the wall that clearly indicates these projects aren't just about improving short term performance, but about adapting to a new customer centric and omni-channel business model that will be the key to long term viability.


Photo of Leslie HandOffline

The 2014 NG Retail Summit in Austin, Texas was packed with insightful presentations, panels, and workshops. Attendees brought a diverse set of perspectives and interests to the event drawing from the range of their roles and their firms' lines of business. The majority of retailers there left with a short list of actionable ideas to socialize with their colleagues and teams. My colleague, Greg Girard, and I attended and collaborated to sum up the event as follows.


Photo of Leslie HandOffline

The rise of the tech savvy consumer has impacted everything from customer's expectations to future technology investments made by the enterprise. In the cross industry Web conference, New Consumer Expectations and Impact on Banking, Healthcare, and Retail, we highlighted key findings from IDC Financial Insights, IDC Health Insights, and IDC Retail Insights regarding consumer adoption trends and the impact of third platform technologies that has enabled broader consumer engagement initiatives across the three industries.


Photo of Leslie HandOffline

If you know me, you know that I love retail, and you know that I like to shop - what better way to understand what's going on in the business ;-). Those of you that worked with me in the distant past might remember when I wore skirts and dresses to work, but I pretty much stopped doing that 10 or so years ago. I still like to dress up once in awhile, and I usually reserve wearing dresses for special occasions. My colleagues who saw me at dinner last week got to experience the dressed up, out of workplace Leslie, and most reported that I "clean up nicely"! I say this because it is an important factor in the story I am about to tell about the search for a dress for a planned black tie affair. I tell this story as a reference for how the retail experience needs to change in the very near future.


Photo of Leslie HandOffline

Packed full of accounts of the successes, challenges, and requirements facing retail mobile implementers, my day chairing the retail track at Mobile AppsWorld on February 6, 2014, was well worth the trip to San Francisco. I plan on writing about several of the topics that were discussed, and in this piece I will focus on a start-up vendor that fascinated me during a panel session I hosted. The vendor, ThirdLove, fascinated me with a capability and product that leverages patented mobile and 3D technology to sell custom fitted bras (that it designs and produces).



Viewed 863,855 times