WELCOME TO The POS REPORT
6 Retailers That Collapsed in the Last Decade
RICH DUPREY | January 1, 2020
GAIN Credit is the new name for Global Analytics. The name change took effect across our group of companies worldwide. Global Analytics India Pvt Ltd will keep its name and will remain a subsidiary of GAIN Credit, Inc.
Article | February 13, 2020
One of the most transformative customer experiences is happening at the point of sale retail consumers are tapping and swiping more than ever compared to handing over cold hard cash. A driving force is the innovation taking place in retail payment as the cashierless storefront slowly takes root and young shoppers don't want to be bothered with even the credit card transaction time. Retail Customer Experience reached out to Mike Rittler, general manager of retail card services and personal lending at TD Bank, to get his perspective on retail POS, trends, consumer expectations and the retail purchase experience.
Due to the latest technology innovations to hit the market, today's retail environment is changing at an unprecedented rate. From robots that can identify shoppers' purchasing habits to immersive virtual reality experiences and the increased popularity in BOPUS, the shopping experience has dramatically evolved in recent years. Consider this: if the average shopper were to hop into a DeLorean time machine, travel back in time to the early 1990s and shop for a sweater; they wouldn't be able to shop online or through a mobile app. Instead, they'd be forced to drive from store to store, aimlessly perusing through aisles and asking sales associates to check store inventory stock via a paper ledger. That shopper would quickly realize just how big of a difference technology makes in the shopping experience.
Oftentimes, our social media video marketing efforts are weighed down by our own customers for the lack of thoughtful stories that can touch upon them. These are like run-of-the-mill, telling everything that the target viewers are least interested in knowing. And the heavy budgets we utilize to create a ‘so called’ powerful video is usually downcast as a no-brainer. There does exist a gap between what we do and what is expected of us. Whether it is B2B video marketing or B2C video marketing, the underlying objective of filling the gap remains the same.
As we come off another holiday season, it's worth taking a look at how the customer journey has changed, the role retail plays in the journey and what 2020 holds for innovative brands and retailers alike. Only a small minority of consumers these days are brand loyal according to a recent McKinsey report. Most consumers prefer to be in "shopping around" mode instead. Add to that the waning influence of TV advertising. Against this backdrop, it's clear that brand and retail marketers are challenged and need to change up their game. In a world in which TV advertising has lost much of its power, innovative retailers and brands have an opportunity to command consumers' attention through integrated marketing initiatives that include digital experiences and product sampling.
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