Retail success post-COVID will rely on understanding new customer mindsets, says Conversity

Retail Technology Review

Six months after COVID-19 started making its mark across the world, lockdown restrictions and widespread working from home offices have caused many consumers to rethink their shopping habits. Retail technology company Conversity believes that understanding the intricacies of these new mindsets is vital if brands are to thrive in the post-pandemic world.

Covid-19 changing consumers technology demands

TalkingRetail

More than 20% of consumers, around 13 million adults, would like to have the ability to place orders online for delivery from their local c-store, new research reveals. This story continues at Covid-19 changing consumers technology demands. Industry News consumer research convenience stores coronavirus Online delivery Social media technology TWC

Defining ‘Direct To Consumer’

Retail TouchPoints

DTC refers to the process of selling directly to the consumer. PipeCandy predicts revenue, order volume, technology adoption, online to offline expansion and many such interesting business metrics and triggers. direct-to-consumer DtC Ashwin Ramasamy PipeCandy DNVBsBy Ashwin Ramasamy, PipeCandy If you’re a follower of retail, you have definitely stumbled upon these terms in your newsfeed — DTC, D2C, DNVB.

How Technology Can Help You Create A Winning Product Content Strategy in 2019

BigCommerce

Consumers expect an… Ecommerce TechnologyProduct content has always been key to standing out on the very cluttered, very competitive digital shelf.

Older Consumers Embrace Technology During Their Purchase Journey, Too!

Forrester eCommerce

Recent reports that focus exclusively on how Millennials use new technologies have misled eBusiness execs into believing that they must focus primarily on Millennial dollars. [i] History has shown us that technology innovation has an impact on all generations --even if adoption rates and motivations differ by age. We even see this trend when examining the role that mobile devices play in the consumer purchase journey today.

How Technology Affects Communication

Neil Patel

For better or worse, technology affects communication because it is a part of our everyday lives. You might see the average elementary-aged child with their head buried in a smartphone and tempted to take a gloomy outlook on what technology has done to us.

Mobile Retail Technology – Too Fast, Too Furious?

Retail TouchPoints

By Ross Homans, Stratix If you think of technological advancement for retailers as a highway, there seem to be two distinct lanes with very different speeds The first lane is where “traditional” technology such as monitors, laptops and desktops live. While OEMs refresh this technology every year (usually timed to chipset refreshes from Intel and their competitors), functionality is static, and retailers refresh their traditional computing devices on average every four to five years.

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Creating A Frictionless Shopping Experience With Technology And Data

Retail TouchPoints

By Susan Wall, Oracle + Bronto Consumers today want it all when they shop. As time goes on, and as consumers continue to weave seamlessly in and out of channels, their expectation for a smooth, frictionless shopping experience will continue to rise, making it vital that retailers meet their needs every step of the way. But with consumer behavior ever-changing, how can you ensure you’re meeting their expectations today while setting yourself up for success tomorrow?

Best Practices for D2C Technology Strategy | Salsify

Salsify

Brand manufacturers must think about their technology strategy while attempting to balance the desire to go direct-to-consumer (D2C) and managing continued market uncertainty.

Facial Recognition: Will Consumers Welcome the Technology?

Wiser

Facial recognition isn’t new but uses for the technology have been increasing. Congress has held hearings about facial recognition as prominent members shared their concerns regarding the technology. Perhaps more importantly, will consumers welcome the technology? As the technology advances, more ways to integrate the tech into retail will likely appear. Better Consumer Data. Consumer Sentiment on Facial Recognition.

How to Take Your Brand Direct to Consumer

BigCommerce

Thinking of dipping your toes into the direct to consumer waters? In fact, according to IAB’s popular new study, The Rise of the 21st Century Brand Economy, the future of retail growth comes from direct consumer relationships. If your brand wants to win the direct to consumer game, you can’t just efficiently fill orders, you need to expertly fulfill the modern expectations of customers who place those orders. Why brands are going direct to consumer. Direct to Consume

Consumers embracing contactless payments during pandemic

TalkingRetail

Around 60% of consumers claim to have increased their use of contactless payments during the pandemic, new research reveals. Industry News consumer research Contactless payments convenience stores coronavirus

Fashion Meets Technology – Choose Well, Be Well!

Retail TouchPoints

By Geetanjali Sarna and Amit Prabhakar Gaitonde , Wipro Despite the growing use of technology in all facets of life, fashion retail has continued to play it safe when it comes to utilizing technology to further innovation and the customer experience. While traditional views still dominate the industry, technology innovations, if applied correctly, can really help elevate the creative process.

Intelligent Retail Technology Investment.It’s All About People

Retail TouchPoints

By Garry Church, Inmar Retailer buying decisions on technology are all too often influenced by the latest trends and reflect the “flavor of the month.” The customers who spend their hard-earned income with them should be a retailer’s North Star when assessing retail technology options. Some major retailers like Lowe’s have, in the past, struggled with connectivity and other technology issues. Is your technology reducing friction and allowing customers to do more with less?

Why Traditional Consumer Panels Won’t Help Consumer Brands Retain Market Share

Retail Touch

For a long time, retail consumer data-gathering was a game rigged for big players. As a report from consulting firm Catalina showed, 90 of the top 100 consumer packaged goods companies lost market share to smaller brands in recent years. Where are those consumers in our data?

Are Microservices The Answer To Retailers’ Technology Woes?

Retail TouchPoints

By Steven Berkovitz, OrderDynamics When presented with a need for a new technology capability, retailers are often faced with the decision of whether to ignore the need, or to rip-and-replace an existing system and purchase a whole new solution suite. This is particularly disheartening for retailers that have taken the time to develop and build their own technology systems in-house. Traditionally, retailers have consumed solutions in their entirety.

Leveraging Advances In Technology To Deliver Delight

Retail TouchPoints

Retailers that are embracing the rapidly advancing artificial intelligence, automated personalization technologies and machine learning are positioning themselves for the future. These technologies do more than allow retailers to react to customer demand; they help them predict this demand and create magnetic moments among their customers. To say that these technologies and advances in machine learning have improved even in just the past few years is an understatement.

The Digital Consumer Age Of Retail: Moving Beyond Omnichannel

Retail TouchPoints

By Peter Zaballos, SPS Commerce The Digital Consumer Age Of Retail The retail industry has entered a new era – the Digital Consumer Age of Retail. Consumers’ proficient use of digital channels has revolutionized the retail industry and technology has changed the way people shop today. The Consumer Is Always Right The old adage that “the consumer is always right” has a new meaning in today’s retail industry.

How Technology Is Improving Ecommerce

ecomdash

Technology is the driving force behind ecommerce and as new tech is discovered, ecommerce has the ability to change and ultimately improve. As exciting new technology is created, businesses can take advantage of it to further personalize their company and online presence. With artificial intelligence, augmented reality, and individual proprietary technology, the ecommerce experience is improving every day. Ecommerce Technology

Making It Real: Disruptive Technology To Elevate the Customer Experience

Retail TouchPoints

Retailers are delivering differentiated customer experiences through investment in store technology, people and process. Specifically, technology development and execution pose the most complex challenges and the greatest area of risk. Executives know that “disruptive technology” is on the 2018 agenda but often don’t know how to execute. Understanding this allows companies to select technology and amplify brand.

Meeting Consumer Needs at Speed Requires Flexible Technology and the Right Partners

Kibo

If you are a retailer or manufacturer, here are three things to consider when working on answering these questions, with the understanding that you need the right technology and the right partnerships to respond to them at speed. But, because they already had our personalized recommendations technology in place, we were able to implement a remedy in just a few hours as a back end configured rule.

Restoring Consumer Trust In Retailers’ Data Management: Can DMS Help?

Retail TouchPoints

If you’re like most retailers, the answer is a resounding “yes.” These questions have become so prevalent in retail organizations that headlines now pose them not only to retailers under fire, but also to consumers, who today — as never before — question whether retailers can be trusted with their personal information. Under full and proper use of these systems, the likelihood of regulatory investigation and consumer distrust can be significantly decreased.

Discover How Managed Services Can Streamline In-Store Technology Deployment

Retail TouchPoints

By Klaudia Tirico, Features Editor While it may not be as glamorous as launching a new mobile app or introducing virtual reality, having a streamlined process in place for in-store technology deployments is critical to controlling costs and avoiding customer service headaches. The complexity of an infrastructure technology solution in today’s world is really driving the need for seamless management,” said Pace. Technology projects are projects.

RevTech Event Spotlights Retail Innovation: Which Technologies Will Win Out?

Retail TouchPoints

RevTech , a venture accelerator focused on developing early-stage retail technology companies, is hosting its 11 th semi-annual Tech Trends in Retail event in the flagship Neiman Marcus store in Dallas on April 5. This event showcases new retail strategies and the technologies that power them, and includes presentations from several RevTech “graduates,” including: Neighborhood Goods ; Envizzo ; Xenio Systems ; Bottlefly ; Roopa ; Cherry Pick AI ; and.

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Music-Themed Pop-Up Showcases Pay-By-Phone Technology

Retail TouchPoints

The pop-up shop offered unique products in a share-worthy setting where consumers could hang out and experience something different. By Klaudia Tirico, Features Editor I was recently invited to check out Mastercard’s music-inspired, experiential pop-up shop in New York City — The Mastercard House — which hosted a variety of shopping and music events leading up to the Grammy awards that were held on Jan. The best part? All you needed to shop was your phone’s camera!

The Technology Driving The Growth Of IoT Retail Applications

Retail TouchPoints

Retailers are ramping up the use of new IoT technology and a growing number of connected devices to keep up with consumer demands, better interact with customers, conduct transactions securely and improve the efficiency of their operations. Key to the technology backbone and backend ecosystem are routers and other networking equipment, not the most glamorous part of retail but indispensable nonetheless.

Virtual Reality Fully Opens Window Into Consumer Behavior In-Store

Retail TouchPoints

New technology and data have made it much easier for them to understand individual purchasing habits, the path shoppers take through stores and the time they spend making their choices. But it’s hard to understand the mindset of the consumer unless you’re in the store, shopping with them. While we’re in the infancy of applying VR to consumer research, we already know the possibility for insight can go even further. virtual reality consumer behavior Alex Hunt System1 Researc

Retail technology for thriving through uncertain times

iVend

Retail businesses are encountering a variety of challenges including limited access to inventory, an inability to respond to increased consumer demand as panic-buying sets in and an overall reduction in foot traffic as more businesses are forced to close. Retail technology can not only help you improve processes and regain control, the right retail technology can deliver long term resiliency so you can weather uncertainty and position your business to thrive once all returns to normal.

How Direct-To-Consumer Is Driving The Need For Real-Time In Retail

Retail TouchPoints

Well, you don’t need to care, but Charles Darwin would argue you should: “It’s not the strongest of the species that survive, nor the most intelligent, it’s the one that most adapts to change.” Technology is changing the way we live, the way consumers shop and the way retailers need to operate. Real-time retail technologies may or may not have been invented by Amazon, but Amazon has enabled their exponential growth and exploited them to become dominant in the new retail market.

Retailers Can Learn Lessons From Consumers' Card Safety Concerns

Retail TouchPoints

By Nicole Bryan, Sterling Payment Technologies Given the rise in reported data breaches and credit card fraud concerns, it should come as no surprise that the shift to EMV and mobile payments has some shoppers wary. While it’s not really up to independent merchants to assuage these fears or educate consumers about the various ways in which they can increase their account security, they can still take a lesson or two from the situation and improve the payments ecosystem overall.

Store Technology Q&A: Redefining Experiential Retail For The COVID-19 Era

Retail Touch

The hype surrounding “experiential retail” encouraged retailers to think big and invest in technology that would keep shoppers in stores longer — touching and feeling products and having long, passionate conversations with associates. But social distancing guidelines and traffic restrictions enforced due to COVID-19 have forced retailers to redefine “experiential,” and, more importantly, rethink the role of in-store technology.

Need For Speed: How Retailers Can Meet Consumers’ Digital Expectations

Retail Touch

Consumer expectations are constantly on the rise, driven by innovations and new offerings that promise more efficient and personalized experiences. The reality is, what a consumer views on their screen when using either a mobile app or through a browser is just the tip of the iceberg.

Four Forces Drive The Consumer’s Tech Stack

Forrester's Customer Insights

Today I’m on stage in New York speaking to hundreds of marketing executives at our Consumer Marketing Forum 2018. See the report here: The Consumer Tech Stack. B2C ecommerce B2C marketing benchmarks business technology (BT) consumer mobile activities consumer mobile adoption consumer mobile devices consumer mobility consumer segmentation customer data customer emotion customer insights data insights ecommerce marketing technology technology adoption data

Serving Retail Consumers In An Age Of Digital Transformation

Retail TouchPoints

This new demand has resulted in more businesses implementing automation technologies such as chatbots and virtual assistants, to help make consumer interactions smarter, faster, easier and more accessible. Specifically, in the retail industry, technology has increased the complexity creating a transformative customer experience.

Cyber Resilience, Retail And The Role Of Technology

Retail TouchPoints

Changing consumer demands and increasingly stringent regulatory pressures are both catalysts for change, and have forced distributed retail enterprises to carefully consider how they protect themselves, and their data, moving forward. By Nick East, Zynstra If 2017 is to be remembered for anything it will surely be the dramatic increase of data breaches and cyberattacks reported in the media.

How to quantify the value impact of a technology investment

Mi9

Today it is more critical than ever to quantify the value impact of a technology investment in order to make a well-informed decision and drive consensus internally. Consequently, retail technology must be scalable, flexible, intelligent, and secure.

Why Direct to Consumer?

Talkoot

Direct to consumer helps brands break through the noise. Brands like Caspar, Harry's, and Bonobos use data, storytelling, and crowdsourcing to connect with their consumer. One - Direct Connection to Customers: Consumers, especially Millennials, want to buy from brands that align with their values. Direct to consumer brands form direct relationships with these principled customers, and it turns consumers into active participants, instead of passive target markets.