For a large retailer in the news recently, 90 minutes of system issues likely cost it approximately $50 million in lost sales. Initial reports showed that the company was unable to process credit card transactions because of an error that occurred during a normal maintenance cycle. Obviously, that’s bad news for a retailer — and…
Technology is revolutionizing retail shopping. Stores and online retailers are using sophisticated new tools to improve the efficiency and productivity of their operations while delivering a better customer experience to maximize sales and loyalty. The latest of these tools were on display last week at NRF 2019: Retail’s Big Show. Innovation was a topic on…
Retail really is all about the customer experience. For years, some observers have been saying that retail stores are on their way out, that they can’t keep up with online retailers who can sell customers the items they want at a lower cost, since they don’t have to maintain stores or pay a sales staff….
The holiday shopping season is inevitably followed by the return season. That’s been a headache for retailers and consumers alike since the dawn of trade, but e-commerce has turned it into a migraine. Why? Brick-and-mortar retailers are increasingly using immediacy and convenience to compete against e-tailers. Two ways are by giving customers the option of…
When I talk to retail executives about making investments in digital transformation initiatives, they often ask me what impact the changes will have on the customer experience. It’s understandable that retailers want to prioritize the customer when considering IT investments. However, retailers should reframe that question. With stiff competition from online retailers, and with other…
Recently, I drove to a large, brick-and-mortar bookstore in search of a specific novel. Although the book was on best-seller lists only a few years ago, the store didn’t have a copy in stock. A sales associate offered to order it for me, telling me I could drive back to the store and pick it…
