Shopper Experience

Shopper Engagement delves into the latest trends and strategies retailers are using to cultivate long-term relationships with shoppers. Social media, mobile technology, in-store tablets and more are covered in this section. Subscribe to the feed and stay in touch with the latest retail happenings.

Fraud Costs Foreign E-Commerce Retailers 22% More Than U.S. Brands

EMV payment regulations, which mandate the use of chip cards at the point of sale, have been effective in mitigating fraud for in-person Card Present transactions worldwide. Unfortunately, fraudsters have migrated to less protected targets, particularly the Card Not Present (CNP) transactions that dominate e-Commerce. Non-U.S. retailers are particularly vulnerable, according to a study from LexisNexis. Non-U.S. retailers with an e-Commerce operation have the highest fraud-related costs as a percentage of annual revenue, with charges that are 22% higher than U.S. retailers, according to a study from LexisNexis. These merchants’ overall fraud costs are 85% higher than their brick-and-mortar-only counterparts.

#Shoptalk17: Instagram Rolls Out Shopping Feature

  • Published in News Briefs
Instagram made a big splash at Shoptalk 2017, unveiling that it is expanding its Instagram Shopping feature to all fashion, apparel, jewelry and skincare brands using the commerce platforms BigCommerce and Shopify. The functionality is expected to roll out in Q2 2017. “People are in this discovery mind-set [on Instagram] and…

The Future Of The Instant Gratification Economy

It’s never been easier to catch a cab than it is today, thanks in large part to Uber. Now, instead of running around looking for taxis with their lights on, we can turn to our smartphones, punch in our addresses, and go. This convenience has given way to an entire movement of instant gratification and as consumers, we’ve grown used to it. The process has become so seamless that we often forget a key piece that’s conspicuously missing — the actual payment. Turns out, though, that this instant gratification movement was just the beginning. As consumers began to expect and understand the benefits of instantly hailing a cab, commerce as a whole has taken note — taking the values of automated payments, credit cards on file, and app-based shopping and expanding them tenfold.

Why Negative Reviews Aren’t Always Bad

Online reviews on e-Commerce sites are becoming more influential in the online shopping experience. According to Forbes, 88% of consumers trust online reviews as much as a personal recommendation. As the number of people shopping online continues to grow, the use of UGC and online consumer opinions will become more central to the e-Commerce strategies of online retailers around the world.

Removing Friction From The Shopping Experience: Webinar Series Preview

To secure long-term success in retail, brands must build better relationships with every consumer and create a seamless, friction-free shopping journey. That means optimizing all strategies from the first mile to the last, using the most relevant data and analytics strategies. The 2017 Connected Consumer Webinar series, taking place March 27-30, will highlight the hottest topics in retail: artificial intelligence, personalization, maximizing mobile investments, and the million-dollar question: What do consumers actually want? Retailers, analysts and subject matter experts will share innovative solutions and strategies as well as real-world success stories.

ShopKeep Swallows ChowBOT Online Food Order System

ShopKeep has acquired the online ordering software provider ChowBOT from Meerchant. The purchase will enable ordering, payment and delivery options for ShopKeep’s 8,500 QSR and full service restaurant clients. Terms of the transaction were not disclosed. ChowBOT’s features will be directly integrated into ShopKeep’s POS system. Foodservice operators will be able to sync their POS menu to online order sites where customers make their selections, complete payment and select from among onsite pickup, curbside pickup or delivery options. Order details will be automatically submitted to the restaurants, enabling these merchants to use third-party on-demand delivery providers such as UberRUSH or Postmates to manage their delivery processes.

How Facebook And Amazon Play Into Mobile-First At eBags

There are a number of reasons why eBags is succeeding in the competitive travel goods space. But a focus on mobile-first is a primary driver of success: in 2016, year-over-year (YOY) sales via mobile grew 70% for both Q4 and full year 2016, while mobile traffic grew 67% for Q4 and 53% YOY. Co-Founder and EVP Peter Cobb shares his insights into eBags’ success, as well as his personal viewpoints on the retail industry, in this exclusive Q&A with Retail TouchPoints: Retail TouchPoints (RTP):eBags is committed to a strong marketing strategy using Facebook. Can you talk about the benefits of working with Facebook?

Theatro To Unveil Virtual Voice Assistant At Shoptalk

  • Published in News Briefs
Theatro will host a live demo of its new virtual voice-assisted selling app at Shoptalk 2017, March 19-22 in Las Vegas. The voice-assisted selling capabilities are designed to enable every store associate to upsell and cross-sell additional products within the store. “Shoppers are more connected than ever to instant meaningful…

REVTECH Announces 2017 Graduate Accelerator Program Participants

  • Published in News Briefs
REVTECH (Retail Technology Ventures), a retail technology accelerator focused on early-stage innovation, has announced the seven companies that will be participating in its 2017 REVTECH Graduate Program. The theme for this year’s program is “AI, Automation, and Analytics — Vital Tools for Retailers in the Age of Amazon.” The REVTECH…

Lagging In-Store Personalization Cost Retailers $150 Billion In 2016

The lack of in-store personalization remains a major pain point for retailers: 49% of U.S. consumers still say they “never” or only “sometimes” receive personalized service while they’re in a store, according to a survey from TimeTrade. The report, titled: TimeTrade State of Retail 2017, suggested that by failing to offer shoppers the personalized shopping experiences they want, U.S. retail stores left approximately $150 billion in potential revenue on the table in 2016. Consumer respondents said they would increase their in-store spending by 4.7% on average if they received better, more personalized service from retailers, with: 20.2% increasing spending up to 5%; 20.9% increasing spending up to 10%; and 8% increasing spending up to 20%.

Location Engine Yext Files For IPO

In a move that could raise as much as $100 million, Yext has filed for an Initial Public Offering (IPO) that would make its stock available for purchase as soon as April 2017. Yext, founded in 2006, provides the location results appearing on search engines, social media and maps, and counts brands such as AutoZone, Best Buy, Ben & Jerry’s, Marriott, Michael’s, McDonald’s and Rite Aid as customers. According to its SEC filing, Yext has “experienced rapid growth in recent periods.” However, the filing also warned that Yext has “a history of losses and may not achieve profitability in the future,” and that it remains dependent on strategic relationships with third-party application providers. For the nine months that ended Oct. 31, 2016, Yext generated $88.6 million in revenues and suffered a net loss of $28.6 million.

Industry Majors Make Strides In Predicting Consumer Behavior Via New Technologies

Retailers, it seems, have long made information technology investments to tell them what happened — what sold and how many; what products were popular in specific regions; and where additional products needed to be shipped to keep the shelves filled. Now, major retailers are leading the charge in creating information technology systems to tell them what will happen, so they can be better aligned with the customer and take advantage of trends as they happen. And it’s expected that as these predictive analytic systems become more commonplace among major retailers that the technology will soon make its way to the mid-sized and even smaller retailers.

66% Of Retailers Say Current Systems Don’t Enhance Last-Mile CX

Despite efforts to improve the last mile of the customer experience (CX), retailers still are far from optimizing it: 66% of retail supply chain executives say that their existing systems do nothing to improve the customer delivery experience. Only 3% say they currently have systems that fully support efforts to improve the CX, according to a survey from eft and Convey. Joseph Bobko, VP of Transportation at Boxed, told EFT and Convey that there is occasionally a ‘gap’ between a shipper’s understanding of delivery and the customer’s expectations, and that analytical expertise is often required to bridge that gap:

Chase Acquires MCX Technology For Its Digital Wallet

The long strange trip of the Merchant Customer Exchange (MCX), a retailer-led consortium that was supposed to provide an alternative to traditional payment cards, has taken yet another turn. JPMorgan Chase has acquired MCX’s payment technology to expand Chase Pay, the bank’s digital wallet product. Chase Pay launched in November…

70% Of Retailers Ready To Adopt IoT Platforms

Nearly 70% of retail decision-makers are ready to make changes needed to adopt the Internet of Things (IoT), and 65% plan to invest in automation technologies for inventory management and planogram compliance by 2021, according to the 2017 Retail Vision Study from Zebra Technologies. “Retailers’ number one business challenge to compete in this dynamic marketplace is inventory visibility,” said Tom Moore, Industry Lead of Retail and Hospitality at Zebra Technologies in an interview with Retail TouchPoints. “Best case, most retailers are 50% to 60% accurate from that perspective, so if they’re going to have any kind of e-Commerce strategy and leverage their in-store resources and inventory, they need to make sure that product is there.”
Subscribe to this RSS feed