Having a state-of-the-art unified commerce and mobile POS system is crucial to compete in today’s retail market. Is your infrastructure ready to support it? A strong, reliable network (with cutting-edge monitoring, dynamic channel management, traffic shaping, and more) make all the difference in the consumer experience and whether or not you’ve earned a repeat visit and their loyalty.
Market analysts tend to proselytize about the state of retail and how Amazon is killing our business as we know it. And while there is some truth to that, that’s not the headline most insiders would use. The industry is full of highs and lows right now—yes, some traditional box stores are going out of business, but there are also exciting partnerships developing and innovative new companies popping up. As with any business, competition, evolving customer habits, and new technology can be a challenge. After talking with our clients here’s what they told us the biggest issues in retail are right now.
There has been some big news in the retail world. I recently wrote about Sears and Amazon teaming up on the tire business, and now Walmart announced it will sell luxury goods from Lord & Taylor on its website. The deal will boost Walmart’s higher-end merchandise and will give Lord & Taylor access to a much bigger audience. In another intriguing move, Macy’s just acquired retail experience company Story. Story works with brands like Jet.com and DressBarn to create immersive and curated shopping experiences. "Bringing [Story founder] Rachel Shechtman's perspective to the table will help create more enriched and engaging in-store experiences and brand activations," Macy's CEO Jeff Gennette said in a statement. "We are committed to growth in 2018, and this is one important step along the way."
According to Frank Weil, chief customer officer at commerce solution focused firm KWI, it’s essential for retailers to connect online and offline channels. “While technology allows retailers to be faster and smarter, at the core, customers still want to be treated with a personalized touch and feel known as an individual shopper.
When you’ve reaped retail success in the U.S.—or have been approached by international customers for your product—it’s natural to set your sights abroad. After all, total global retail sales in 2020 are projected to amount to nearly $28 trillion. The outlook for international brick-and-mortar retail is sunny: In Great Britain, for example, the British Independent Retailers Association shows that more shops were opened than were closed in the first quarter of 2017. This was an increase of 414 shops in the first three months of 2017, compared to a net increase of just 4 shops for the same period the previous year.
KWI offers a complete commerce solution for specialty retailers. Our cloud-based technology powers all the solutions you need to create unified customer experiences. It is a Point of Sale, Merchandising, eCommerce, CRM, and Loss Prevention solution, all from a single database.
