The Year of On-demand, Personalized Shopping: The Cloud and IOT Abound

What’s Happening in the World of Shopping and Customer Experiences? At the National Retail Federation Annual Convention in New York City, Microsoft made announcements with GameStop, Hardee’s, TGI Fridays, Panasonic, HP and FreedomPay, and NCR on efforts to modernize shopping experiences.

How Does IoT, The Cloud and Customer Experience Come Together? Microsoft believes this will be the year when modern shopping experiences come to life. Where retailers create instant, personalized experiences for shoppers on their smartphone, online and in stores. It will be the year that customers return to stores because technology is engaging them in new ways, making them want to buy more and come back. Microsoft shared for the first time several retail innovations using its technology, including a smart shelf and a tablet-enabled shopping cart, and showed how retailers can gather better store analytics. Microsoft also announced how Pandora and Ashley Furniture are working with technology to create more engaging experiences for employees, helping them be more collaborative and support faster product innovation.

Engaging Customers During the Shopping Experience is Essential for Today’s Retailers. GameStop announced it is working with Microsoft to create an interactive, informative and entertaining shopping experience in an immersive environment. In the near future, when customers walk into one of the GameStop pilot stores, they will be connected to the services enabled by the Microsoft Cloud, allowing them to browse product choices, share their shopping cart with salesperson’s tablet running an assisted selling application, and even browse products interactively on a big screen Ultra High Definition TV where they can view video game trailers with pristine clarity. When a customer downloads and opts into the GameStop app on their smartphone, they will be able to interact in a whole new way with GameStop marketplace through the use of Azure. Ultimately, the customer and the salesperson can push the desired products to the point of sale (POS) system for order processing and payment.

What’s Another Great Example of How Microsoft is Working With Retailers to Improve Customer Engagement and Customer Experience? One example is Hardee’s new way to make ordering a meal fast and fun. Hardee’s is currently deploying self-ordering kiosks for ordering meals, using Windows 8 devices. These in-store kiosks are being tested currently in 30 restaurants with plans to extend that test to additional restaurants soon. Each kiosk allows customers to review the menu and order food and lets managers run sales and shift reports, while dramatically reducing wait times. Check out the video and read more here.

Another Example is TGI Fridays Who Has Plans to Transform the Way People Order Food by Equipping Servers with 8-inch Tablets Armed with Payment Sleeves. With the Fridays’ Service Style technology the customer’s order is processed right at the table, the device also helps manage the waiting list and queue. The solution helps ensure orders are correct, reduces training time, and streamlines waitlists.

Modern Points of Sale Connect Retailers and Customers in New Ways.  As the shopping experience becomes more modern, so does the POS. Modern POS devices are allowing retailers to better understand their customers, provide more customized service, and help them achieve compliance with new security measures being implemented in 2015.  In partnership with Panasonic, HP and FreedomPay Microsoft is demonstrating how the modern POS can create personalized retail experiences, in real-time, through smart and secure devices. With new security regulations on the horizon, retailers need to upgrade their POS devices, not only to ensure their customer data is safe, but to also be able to provide a more personalized and seamless experience at check-out. Read more about modern POS devices here.

Innovation that helps retailers understand buying behavior and customers make informed decisions.  One of the challenges in retail is to create an in-store experience that engages customers in unique ways, entices them to come in to stores, and keep them coming back. Creating those connections creates better experiences and ultimately increases sales. With the help of a Kinect sensor, AVAretail’s SmartShelf technology allows every interaction of a shelf in a store to be monitored and recorded in real-time, providing insight into which products are most selected and picked up by customers. Another form of technology, Path Tracker, gives retailers real-time detection and analysis of a customer’s shopping path.  This provides counts of people in the store, areas visited, dwell time and shopping path, acting as a heat map of where customers are spending the most time in the store.

The NEC Biometric interface with Kinect Camera System Provides Demographic and Face Recognition Services to a Kinectically Enabled Application. Retailers can use this information for analysis and for providing the customer with a more personal selling experience. MediaCart will change the shopping cart as we know it. Adding a location-aware tablet to the cart allows a retailer to present a personal and relevant shopping experience to its customer.  This allows context sensitive ads and promotions when in front of various products along with a barcode scanning capability for price lookups and basket totals.

Retailers Are Predicting Consumer Behavior With Machine Learning. As technology advances, consumers have more tools at their disposal during the buying process. This trend seems to be growing exponentially, especially as the Internet of Things (IoT) matures. This is both an opportunity and a challenge for retailers looking to capitalize on a whole new base of consumers. Competitive pressure, combined with ubiquitous connectivity, smart devices and an intelligent cloud platform is causing a shift to a new retail reality. Food delivery company JJ Food Service uses machine learning to make product recommendations as customers are shopping for food. This provides insights, saves on costs, and ensures their customers have the food they need, when they need it.

Customer Behavior Can Be Predicted. Auckland, New Zealand-based VMob runs a mobile engagement platform on Microsoft Azure which predicts likely customer behavior based on historic and live data streams. The platform currently delivers personalized content to millions of consumers around the world, including customers of McDonald’s across several European markets. The VMob platform collects real time data from multiple sources including mobile devices, wearables, location temperature sensors, WiFi transmitters, beacons, digital signage, and POS systems to personalize engagement with the customer. The VMob platform uses Azure Machine Learning to harness the Internet of Things to predict future customer behavior – transforming live and historical data streams into actionable insights McDonald’s can employ to individualize its marketing efforts. See more information about VMob’s work here.

You Want to Reach Your Customers Where They Are. For retailers to succeed, they need to reach their customers where they are.  Because of this, we are pleased to be announcing Sitecore Commerce, powered by Microsoft Dynamics. This solution integrates the experience management capabilities of the Sitecore Experience Platform with the omni-channel commerce capabilities of Microsoft Dynamics AX for Retail. The result is a product that allows enterprises to bridge the gap between in-store and digital experiences. We are also announcing a combined effort with Toshiba to form the Toshiba Global Commerce Solutions with Microsoft Dynamics to help retailers deliver leading customer experiences through true omni-channel customer engagements. This effort includes Toshiba delivering software and implementation services on the Dynamics platform as well as plans for the global availability of a combined solution – TCxGravity powered by Microsoft Dynamics – specifically tailored to deliver omni-channel transformation on the customer’s terms, helping it provide seamless brand experiences to build lasting loyalty.

What’s The Future of Retail? Retailers are changing the game through connected stores, empowered employees, digital engagement and ambient intelligence all geared toward delighting the modern shopper. By gathering and ingesting insight from myriad data sources, retailers can create a comprehensive understanding of each customer, its store’s inventory and the capabilities of its business to seamlessly match people with the products and services they desire.

The end result of these technologies and services, and of Microsoft’s work with retailers, is an increased focus on solutions that help grow sales and profits, increase customer satisfaction and loyalty, bring products to market faster, and create a more effective business.

If you want more information, visit the Retail NewsroomThe Windows for Your Business Blog, and The Dynamics Blog.

MyPOV: I Love to shop and I love technology. So this is gonna be a great year! I can’t wait to see how cloud computing, IoT and customer experience emerge as the top competitive advantage to lead conversion rates, higher revenues and awesome customer experiences!

@DrNatalie Petouhoff, VP and Principal Analyst, Constellation Research
Covering Cloud and IoT That Drive Better Business Results and Awesome Customer Experiences in Retail Environments
Share

Consumers Can Research a Company and Schedule Appointments Faster and Easier

Often times, as a customer, you want to know a little bit more about what a company offers and when you find that information you want to be able to act on it.  With the  partnership between Verint and TimeTrade, customers will have more seamless omnichannel experiences for consumers.

How Will This Partnership Work? The TimeTrade platform will integrate with the Verint Branch Workforce Optimization solution, enabling customers to research financial products and services, and schedule an appointment to meet with a branch professional on a desired date and time in their preferred branch location.

Can Customers Find Remote Specialists if They are Not At the Branch? In addition to scheduling appointments with branch employees that have the right skills for a given topic, the combined offering can schedule remote financial specialists to meet with customers and branch employees by video conference for even greater omnichannel customer engagement. This enables the broader sharing of resources across the bank enterprise, whether they are in a contact center or another location. For example, for mortgage appointments, customers can schedule an appointment in their preferred branch but be connected with a mortgage representative in another location via video conference.

How Will Brands Measure Success? Following these interactions, key metrics can be automatically added into the bank’s performance management scorecards, enabling them to track customer satisfaction, gauge customer wait times and other efficiencies, determine interaction success rates, and identify areas for training and development.

What Do The Executives Have to Say? Chris Zaske, global vice president, strategic operations, Verint Enterprise Intelligence Solutions,explains, “A top priority of the retail banking organizations we serve is to provide superior experiences to their customers—both on- and off-line—with the goal of also growing revenue. Partnering with TimeTrade and integrating with its platform supports this goal by helping our financial institution customers optimize branch personnel by scheduling their time to meet with customers and better utilize their capacity. By making it easy for customers to schedule appointments in advance, banks are connecting digital interactions with skilled branch associates that can improve close rates, as well as provide follow-up on future cross-sell and up-sell opportunities.”

Gary Ambrosino, CEO of TimeTrade goes on to say, “In-branch service has been suffering, and banks are losing customers as a result. We recently did a study and found that 60 percent of consumers lack a personal connection to their banks. In the same study, we found that a significant majority (83 percent) are willing to come into a branch during a week day if offered a guaranteed time to meet a representative. We believe the responsibility is on the associates and bank managers to re-build these relationships. Our goal in bringing a TimeTrade and Verint solution together is to provide the tools banks need to make this vision a reality, so they no longer risk losing out to the competition.”

MY POV: This is a very interesting partnership in that it does extend the branch beyond the solid walls of a financial office and allows the customer to more easily access the right person, maybe even in their jammies. With the increase in work-at-home employees, this may be a very smart move!

@DrNatalie Petouhoff

VP and Principal Analyst, Customer Facing Applications of Marketing, Sales and Customer Care, Service and Experience, Constellation Research

Share

Stitch Labs: Democratizing Commerce and Empowering Retailers

Stitch Lab’s mission is to democratize commerce and empower retailers by Screen Shot 2015-08-27 at 12.18.33 PMproviding resources to improve their businesses as well as their employee’s lives. Stitch is an online inventory control solution that simplifies multichannel retail business. It automatically syncs inventory, orders, and sales across channels, providing retailers with operational efficiencies and a holistic understanding of their businesses. This enables retailers to save time, make better decisions, and grow. They are a VC backed company, with VCs: True Ventures and Constanoa.

Stitch Labs creates a central command for a business and bring all a business’s solutions together in Stitch. A business can save time by automating inventory and order information across their sales channels, shipping solutions and accounting systems. A company can know what’s in stock in real-time, track inventory quantities across their channels and warehouses from one location. And business can use various views to quickly see what products are available, running low, or awaiting to be replenished.

Businesses can managing multiple sales channels without increasing their workload. And they can save time by automatically syncing inventory availability across their webstore, marketplace and POS channels in one inventory management system. Businesses can even create and publish new listings in a snap.

Stitch Labs has many integrations, including those with sales channels like Amazon, eBay, Big Commerce, Esty, Magento, StoreNVY, Vend, Square, Shopify, SparkPay, WooCommerce as well as shipping and accounting capabilities with Shipstation, ShippingEasy, Xero, Quickbooks, Stripe, Authorize.net, Google Analytics, PayPal, Stripe, etc..

Stitch Lab’s product includes inventory, multichannel, orders, operations, reporting and pricing.  If you are not sure this is the right solution for you, they offer a free trial, which is great — so you can try before you buy!

 They also have earned a number of awards, including:

Screen Shot 2015-08-27 at 11.54.15 AM

MY POV: Retail effectiveness and efficiency is key to making a business run well. And being able to know what inventory is where and having the ability to switch it to a channel that has orders versus keeping it a channel that is not performing as well, doesn’t make sense. What does make sense is to automate that process and that is what Stitch Labs does and more!

@DrNatalie, VP and Principal Analyst, Constellation Research

 

 

Share

Judging at the International Career Development Conferences 4/26

Join me as a judge on April 26th for the 2013 International Career Development Conferences in Anaheim, California.

 If you have experience in the fields of accounting, finance, marketing, management, retail, hospitality, tourism or entrepreneurship, you are invited to register as a competitive event judge by completing the appropriate registration form(s) below.

By volunteering your time and expertise, you will be helping over 15,000 high school and college students that will become the next generation of leaders and entrepreneurs. All volunteers will receive breakfast and/or lunch, free parking at the conference site, and a certificate of appreciation to help document community service hours. To register, click on the date that you would like to volunteer.

Collegiate DECA International Career Development Conference

Hilton Anaheim Hotel

DECA International Career Development Conference

Anaheim Convention Center

Registering large numbers of volunteers from your organization? Complete the volunteer spreadsheet and send to Shane Thomas.

If you have questions or would like more information, please contact Shane Thomas, Director of Competitive Events, at shane_thomas@deca.org or 703-860-5000.

I hope to see you there!

At Social Business Builders,
we work with brands & software companies to deliver increased revenue and decreased costs.
Our Motto? Learn. Share. Grow!

@DrNatalie L. Petouhoff
310-919-8467

Want to see how to get an ROI from Social Media? Check out these fun videos:
Video 1: Building the Business Case for Social Media
Video 2: How to Measure the ROI of Social Media

Video 3: How Social Media Benefits the Whole Company

Here’s My book on Businesses can Drive Sales on Facebook: Like My Stuff: How To Monetize Your Facebook Fans

Want to get more info on the business use of social media? Connect with me here:
Twitter:
 @drnatalie
LinkedIn: DrNataliePetouhoff
G+ : Google Plus posts
Facebook: https://www.facebook.com/natalie.petouhoff

Enhanced by Zemanta
Share