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Consumer Demand – The Heart and Soul of Retail

One of the benefits of conducting cross analysis of customer and product is improving the ability to forecast consumer demand.
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Samsung Finally 'Unpacks' Samsung Pay | PYMNTS.com

Samsung Finally 'Unpacks' Samsung Pay | PYMNTS.com | OmniChannel | Scoop.it
Samsung Pay brings a whole new set of functionality to the physical point of sale. The big question is whether its NFC and secure mag stripe transmission
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Building The Omni-Channel Roadmap 3 Critical Steps

The goal is to sell anything, anywhere, on any platform, with advanced personalization. Customers expect it, and retailers know that the roadmap is key. The starting point can be anywhere – because where you begin is less important than having an end-to-end vision:

The ability to transact with any payment methodThe ability to use any fulfillment methodEfficient, mobile-based inventory managementMobile store fulfillment capabilities

The roadmap begins with the end-goal in mind: a single cloud-based view of inventory across the network, a single view of the customer across all selling channels and the transactional capability to bring those things together in purpose-built manner for both call center and store associates. 

Dave Cherry's insight:

These are three critical "foundational steps"...

   1. Inventory

   2. Transportation Management

   3. Distribution Center

...however, retailers must also address mobile/digital, customer experience, analytics/insights and more to have a robust omni-channel experience. These foundational capabilities are critical, but won't be effective without additional strategy and execution.

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MasterCard will approve purchases by scanning your face

Facial recognition will soon be used by MasterCard to approve your online shopping.
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Survey Shows Millennials Willing To Pay For Loyalty Programs

Survey Shows Millennials Willing To Pay For Loyalty Programs | OmniChannel | Scoop.it
Free shipping and special discounts were top reasons for joining.
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What Mobile Shopping Apps Are Most Popular With Millennials?

Mobile commerce continues to grow at a prolific rate and has become a top boardroom topic. Why? The sheer growth opportunity that mobile e-commerce has to offer. In fact, when it comes to customer touch points, mobile traffic is starting to exceed desktop traffic. This year alone, global sales on mobile devices are expected to grow to over $280 billion (from $150B in 2014.)Due to limitations in mobile web, many companies are seizing the opportunity by developing native mobile shopping apps. Companies across all industries are coming out with native shopping apps to create a more social a

Via Philip Brown
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Survey: Marketers seek personalized interactions

Survey: Marketers seek personalized interactions | OmniChannel | Scoop.it
Almost all (91%) of marketers either use or intend to use personalization for online customer interactions within the next year.
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Focus On the Customers You Want, Not the Ones You Have

Focus On the Customers You Want, Not the Ones You Have | OmniChannel | Scoop.it
Businesses need to distinguish between early and late adopters.
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The Best Digital Strategists Don’t Think in Terms of Either/Or

The Best Digital Strategists Don’t Think in Terms of Either/Or | OmniChannel | Scoop.it

There is an African proverb, “If you want to go fast, go alone. If you want to go far, go together.” Most large companies excel at going far and going together. But these days every company has to go fast. Is it possible to be both bigger and faster? 

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6 Ways to Use Location Analytics Data in Retail Design

Hyperlocal vendors are changing the way the in-store shopping experience looks and feels, providing retailers of all sizes with the answers to questions like
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Designing Your Best Mobile Customer Experience

Mobile is the common denominator influencing the customer journey. There's great opportunity to increase ROI through mobile customer experience. Learn how.
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The Role Of Tokens In Omnichannel Retail

The Role Of Tokens In Omnichannel Retail | OmniChannel | Scoop.it
TokenEx describes the added layers of security that come from tokenization,
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InStore Technology and Consumer Preferences

A survey shows that todays retailers have a golden opportunity to better understand consumers though they should proceed with caution.

Dave Cherry's insight:

Includes some very interesting insights on millennials...

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Retailers Lose One-Fifth Of Customers Because They Lack Enhanced Payment Security Options

Retailers Lose One-Fifth Of Customers Because They Lack Enhanced Payment Security Options | OmniChannel | Scoop.it
MasterCard’s Selfie Verification pilot program could revolutionize online transactions.
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Amazon's Prime Store Card Comes With Cash-Back Perks | PYMNTS.com

Amazon's Prime Store Card Comes With Cash-Back Perks | PYMNTS.com | OmniChannel | Scoop.it
Amazon is offering a new cash-back card for Prime members.
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The Robin Report - Fiddling with the Roofs

Remember the old adage that “retail follows the rooftops”? If you do, then you probably have fond memories of the Eisenhower administration. Maybe it’s time to adopt a new mantra. Namely, that retail follows the population and the population follows jobs and new technology.
Dave Cherry's insight:

"Will the cheap leases signed during the recession, now coming to an end, throw a lot of excess real estate into the market?  


With that as a guide, we should be looking at two major factors that are already having an enormous impact on store development:

Migration of younger consumers (Millennials) to urban areas in top tier as well as secondary and tertiary cities.Channel migration in which omnichannel and e-commerce initiatives, including mobile, are cannibalizing in-store sales and more than making up for any reductions in physical square footage."


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How Beacons Are Changing the Shopping Experience | Harvard Business Review

Beacons are taking the world of mobile by storm. They are low-powered radio transmitters that can send signals to smartphones that enter their immediate vicinity, via Bluetooth Low Energy technology.  In the months and years to come, we’ll see beaconing applied in all kinds of valuable ways.

 

For marketers in particular, beacons are important because they allow more precise targeting of customers in a locale. A customer approaching a jewelry counter in a department store, for example, can receive a message from a battery-powered beacon installed there, offering information or a promotion that relates specifically to merchandise displayed there. In a different department of the same store, another beacon transmits a different message.

 

Before beacons, marketers could use geofencing technology, so that a message, advertisement, or coupon could be sent to consumers when they were within a certain range of a geofenced area, such as within a one-block radius of a store. However, that technology typically relies on GPS tracking, which only works well outside the store. With beaconing, marketers can lead and direct customers to specific areas and products within a store or mall....


Via Jeff Domansky
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Jeff Domansky's curator insight, September 3, 2014 12:57 AM

How beacons are changing the world of retail.

Martin (Marty) Smith's curator insight, September 3, 2014 1:24 AM

Inevitable the brick and mortar world will become more web-like. The other major take away is a consistent theme now - the closer we get to near real time the better we interact with the evolving mobile / social world.

malek's curator insight, September 4, 2014 7:18 AM

Beacons are awesome for understanding traffic flows in retail locations or conferences, but will users download an app that tracks their every movement? I, for one, won't do it.

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Stores the new darlings of omnichannel retailing | Chain Store Age

Stores the new darlings of omnichannel retailing | Chain Store Age | OmniChannel | Scoop.it
Jill Puleri is the senior VP and general manager of Oracle Retail.
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DICK’S Sporting Goods Maintains Focus On Omnichannel Excellence

In 2014, DICK’S Sporting Goods realized the bottom-line impact of omnichannel strategies.

The sporting goods retailer’s e-Commerce business reached 14.4% of total sales in Q4 2014, up more than 2% from Q4 2013. Executives also found that e-Commerce sales increase by up to 50% in a local market when a brick-and-mortar store was present. This leads to increased sales, since omnichannel customers typically spend three-times more on average than those who just visit DICK’S Sporting Goods stores.
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27 Executives Win 2015 Retail Innovator Awards

In its second year, the Retail Innovator Awards is honoring 27 retail executives who are innovative thinkers and business strategists. Awards were presented during a luncheon ceremony at The Yale Club in New York City today, June 16, 2015.
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