Even with the rise of digital payments, cash is still a popular form of payment. According to the Federal Reserve, consumers use cash to pay for nearly one-third of all retail transactions.
For many retailers, a completely "cashless society" is nowhere in sight. Cash management remains one of the most important aspects of managing a retail operation, particularly at quick service restaurants (QSRs) and convenience stores, where transactions are smaller and cash is a preferred method of payment. This white paper, Boost Profitability by Automating Cash, sponsored by Fiserv and Fast Casual, details the steps to manage cash properly and boost profit for your business.
Uncover the top reasons and flexible options to automate your cash management.
• Time savings
• Theft deterrence
• Higher accuracy
• Better customer service
• Real-time data
There’s no denying the effect digital has on the retail industry.
$.56 of every $1 spent in physical stores is influenced by digital.
What’s more, three of the world’s top five retailers are internetfirst:
Amazon, Alibaba, and JD.com.
According to PricewaterhouseCoopers’ Total Retail 2017 report,
56% of global shoppers use Amazon. Of these, 28% say they shop
less often at retail stores because of Amazon. 18% say they shop
less on other retailers’ e-commerce sites because of Amazon. And
10% say they shop exclusively on Amazon.
Retailers need to find a way to compete in this changing retail
landscape. These five global trends can provide some guidance
on where retail is headed and how brands can thrive in this new
era of retail.
study by UPS and comScore found that 53% of shoppers who don’t use
retailers’ mobile apps state it’s because they like using the website better.
These shoppers see no benefit from installing these apps, as they provide
an inferior experience with no added benefits. Looking at the Apple and
Google Play App Stores, a large amount of retailers have apps with very
few reviews, and some don’t even have a mobile app.
Another problem is the performance of retail apps. 61% consumers expect
an app to load in under 4 seconds according to research by Dynatrace. In
its study, only one retailer made it under that threshold.
And that is just purely opening the app. What is the
experience once consumers get past that point?
In the midst of an overwhelming amount of disruption taking place in the retail banking industry, a clear path to success has emerged. Banks that want to continue to gain and retain loyal customers must make it easier to bank with them.
According to a survey that included 760 different banks and credit unions, the most important priority for 2017 and beyond is the removal of friction from the customer journey.1
To clarify, today’s customer journey includes both the customer experience at local branch locations as well as their experience while interacting with websites, mobile apps, smart watches, and anything else that is connected to the Internet.
The battleground for customers has shifted to the digital world, and retail banks must adapt quickly as crafty Fintech startups and tech giants like Amazon, Apple, and Google continue to push the limits of what is possible with technology.
If digital channels aren’t approached correctly, they can add complexity to the customer experience in
As retail continues its internet-influenced change and customer demand for “right now” service increases, a new area is open for business. There is no reason to send a shirt that is the wrong size or give an impersonal gift card. G-Commerce is here, offering a new type of personalized transaction and digitalized merchandise for those shopping for others.
Learn how Loop Commerce's flagship product, GiftNow:
• Increased % of sales from gifts by 2X
• Drove 24% of Christmas Eve sales
• Increased 6X demand over gift cards
Retailers can grab last-minute shoppers literally up to the moment before a holiday, and increase profits through fewer merchandise returns.
Loop Commerce invented the $600B G-Commerce industry by building the first digital solution that makes it simple to shop for others and partnering with retailers like Target, Uniqlo, and Neiman Marcus along the way. After an acquisition by Synchrony, their deep consumer financial services experience and strong retail partnerships makes this the most exciting innovation in an always changing industry. See how the top retailers on the planet are embracing the huge customer segment shopping for others and seeing spikes in revenue because of it.
Consider a typical visit to a brick-and-mortar retail store. As you search through the racks, deciding what to buy, what type of salesperson do you hope for? Someone aggressive, continuously asking if you’re ready to make a purchase? Or someone who’s never there when you have a question, no matter how hard you look? Ideally, most customers would say, the perfect salesperson falls somewhere in between. Someone who’s ready to jump in with assistance, but happily follows your cue.
Thanks to years of shopping in stores, consumers today know exactly what they want from that brickand-mortar experience—and savvy retailers know how to train their salespeople to get it right. But what about a different shopping situation? What type of experience attracts or repels online shoppers? And what do digital retailers need to do in order to deliver the experience that compels customers to buy?
With so many retailers to choose from, modern consumers don’t need to put up with a digital experience the
A social media analytics strategy should be developed as an enterprise wide framework even as socialytics capability is incubated and developed with digital marketing, public relations, or e-commerce. Read on to learn about social business of retail.
**White Paper Published By: Oracle Voice**
Read this case study to learn how Berkshire Blanket, a consumer products manufacturer, is successfully adding direct to consumer online selling to its previously distributor only business model.
Have you listened to your clothes lately? Lori Mitchell-Keller shares her point of view how the Digital Economy changes customers, competition, and the way to do business in Retail. Find out how Retailers that recognize the potential of digital technology in retail create infinite new opportunities and deliver new customer experiences.
In this executive report, based on cumulative research over the past five years by the IBM Institute for Business Value we will explore how the emergence of digital technology, and the increasing willingness of consumers to use it, has disrupted the retail industry at virtually every level – from shoppers, to megastores, to digital to social media, and more. Further, we will provide recommendations that can enable retailers to position themselves to slice through this disruption and provide seamless, omnichannel customer experiences and conversations that can help build customer loyalty, create value and positively impact the bottom line.
Published By: Iterable
Published Date: Sep 07, 2018
Email marketing continues to be the best digital channel for ROI, so delivering dynamic, personalized messaging to the inboxes of your customers is of the utmost importance. In fact, for 77 percent of consumers, email is the preferred messaging channel, dwarfing demand for SMS, push notifications and social media communications.
When you are determining the right email marketing strategy for your business, it’s natural to wonder how the industry leaders are conducting their campaigns. A¬er all, if they’re on top, then they must be doing everything right...right?
To glean best practices, we analyzed the email marketing strategies adopted by the top 100 e-retailers in the United States to study how they engage with their customers. These companies represent industries ranging from apparel and electronics, to auto parts and pet supplies, but all have the single goal of getting their users to go from inbox to checkout.
We note what companies are doing across the board, as well as what spec
As the Internet of Everything (IoE) drives exponential change — and opportunity — customers and retailers face a complex maze of shopping journeys.
Mobility and apps now represent a disruption similar in scope to what we saw with e-commerce in the late 1990s and early 2000s. In the second quarter of 2014, total discretionary retail spending rose 3 percent; e-commerce rose 10 percent; and mobile commerce rose 47 percent.
In only a few short years, technology and changing consumer behaviors have upended the retail landscape. The digital consumer has truly come of age and expects a rich palette of retail options, channels, and experiences that provide ever-increasing value and convenience. Disruption, meanwhile, is arising from new competitors enabled by fast-changing technology, threatening established incumbents as never before.
To set themselves apart, companies need to shift to an experience-first approach that keeps customers engaged as they move from device to store and back again. Read Moving Beyond Click and Mortar: 5 Steps to Experience Excellence to learn how you can blend digital and physical channels into a fully connected customer journey.
Read the guide to learn how top retailers:
Shift from channel-first to customer-first
Build unique experiences around their brand story
Differentiate their experiences with digital
Simply fill out the form to download the report.
Big-box retailers often have the resources, product variety, and name recognition to get ahead of smaller competitors. However, small and midsize businesses are able to crush the big-box stores where it matters most—the customer experience.
Whether by design, geography, or as a matter of principle, small and midsize retailers are closer to their customers and are able to engage them on a level that big-box stores simply cannot. This closeness—combined with the right retail management system—allows smaller business to deliver a superior shopping experience with:
• Special orders
• Predictive inventory analysis
• Digital, mobile channels and device integration
This white paper—written by Innovative Retail Technologies and sponsored by Epicor—explains how the right software solution leads to a more agile retail strategy, which then leads to a better experience for your customers.
Published By: OpenText
Published Date: Sep 27, 2017
Today’s fast-moving consumer market is putting pressure on manufacturers to be able to share digital product information seamlessly and quickly across retail and distribution channels. A centralized digital asset management platform helps to simplify the distribution of digital information across the extended enterprise.
Discerning and demanding consumers expect meaningful retail interactions. Creating new world-class experiences is vital to differentiate products and boost profits in the consumer goods market.
• Let me shop when and how I want: Technology to research and buy products defines consumer behavior, driven by social media’s “see now, buy now” mentality.
• Give me relevant data: With ever-expanding information, every touchpoint should have customer data that matters.
• Give me a truly unique experience: Innovative retailers use new partners and tools to deliver personalized consumer experiences.
• Pair my products with consistently good service: New customer service technologies are crucial in a world with more consumer/retailer choices.
• Make my retail environments better: Consumers want memorable, differentiated experiences in user-friendly digital and physical retail environments.
I invite you to download your targeted industry analysis and uncover the expectations to take into account a
Adobe article that condenses/highlights key findings from the Econsultancy Digital Marketing in the Financial Services and Insurance
Sector 2017 Study, an in-depth, 5000+ word report covering FSI executives’ opinions on:
– General trends in retail banking, investment banking, and insurance
– Internal structures their companies are using to execute digital transformation
– The biggest threats/disruptions in the industry
– The biggest priorities in 2017 (leaders are focusing on both customer retention and customer acquisition, mainstream is focusing just on customer retention)
– Main sources of sales and leads (digital + mobile are steadily increasing sources)
– Digital marketing budgets & investment areas (leaders are investing more in digital marketing automation and analytics)
– Use of the cloud and AI to automate analysis and marketing
– The importance of multichannel personalization
– Innovation in the types/formats of products/services provided (leaders are focusing on imp
In the Application Economy, speed, innovation, and quality, have become table stakes. If you can’t meet your customers’ expectations, they will surely find a competitor who can. Whether your organization is in one of the sectors facing the most intense digital competition (like insurance, banking, telecommunications or retail), or a more traditional industry, how rapidly and successfully you embrace a software-driven digital transformation strategy will likely have a profound effect on your organization’s long term viability. In this Whitepaper, learn how the Application Economy is driving Digital Transformation in companies, and how you can position your organization for success.
Published By: Sailthru
Published Date: Aug 15, 2016
Download this best practice guide on increasing repeat purchase rates to learn:
-The top high-impact strategies that will drive repeat purchase rates and customer lifetime value
-The priority tactics to test and deploy in order to put strategy into action
-The frameworks you need to properly measure and drill-down into your business's repeat purchase rates
Who should download:
-Directors of CRM & Customer Retention
-Digital Marketing Managers
-Email Marketing Managers
Published By: Red Hat
Published Date: Jun 26, 2019
Everything changes. We are in a period of significant shifts in companies—even entire industries—demonstrated in rankings, like the Fortune Global 500. For the last century, these periods
of volatility have been driven by a combination of technological change and capital expansion.1
There is obvious competition between direct, traditional market segments, but digital disruption also opens up the ability to compete and gain revenue in new areas. For example, a movie
streaming service like Netflix also launches a community around the software it created to run
its services, or an online retailer like Amazon also innovates with public cloud management.
Innovation requires more than a slick customer user interface (UI). There has to be a foundation of technology, processes, and culture that allow an organization to be flexible, to build on its
existing knowledge, and to incorporate new ideas.
At a strategic level, today’s software is expected to deliver on a multitude of new and different
Digital kiosks are fast becoming ubiquitous in quick-service restaurants, cinemas and retail stores as retailers grapple to embrace automated, digital solutions to keep up with rising labour costs, customer expectations and stiff competition. To maximise the value of self-ordering kiosks, retailers should not perceive digital kiosks as a means to an end but a critical touchpoint within the customer journey.
Download the whitepaper to discover how the new generation of self-order kiosks—
• Can resolve the challenges of acquiring, training and maintaining a workforce
• Can enhance customer experiences throughout the entire shopping and purchasing process
• Can facilitate better business decision making through access to valuable customer data
Nearly all store sales will be influenced by digital in 2020, and the retailer of the future will excel at orchestrating core processes in the maze of near-infinite purchase paths available to ever-more discerning consumers. Digital transformation will impact all areas of retail business processes as retailers seek new ways to reach consumers while maximizing efficiencies within their own operations. Automation, speed, and contextually driven decisions will create opportunities for retailers and help transform relationships with their suppliers, consumers, and employees. Learn more about how digital transformation is impacting the retail industry. Download a complimentary copy of the Retail in a Digital World white paper.