OK, OK, so for weeks now, the bloodthirsty business media have been reporting on Best Buy's woes (marked recently by the resignation of CEO Brian Dunn), and our blog has been no exception.
We've been flogging the "future of retail is omnichannel" message for some time now, but for good reason. It's true.
On Wednesday (April 18), ReadWriteWeb published an enlightening report on Amazon's impact on Best Buy's recent struggles.
With the rise of e-commerce over the past decade, following web analytics related to sales conversions has become a standard practice. Similarly, brick-and-mortar retailers have long used different methods of tracking foot traffic into their stores, comparing that data with sales figures to come up with appropriate staffing strategies.
High-end cosmetics retailer Sephora is using integrated technology to ramp up its in-store experience.
"Brands must now be able to optimize mobile channels (using mobile sites and mobile apps) in a way that enables consumers to make purchases, track pricing and comparison shop whenever and wherever they wish in order to remain relevant," wrote Direct Marketing News' Juan Martinez (April 1).
Because shopping information is omnipresent -- we can look up product and pricing info on our phones at any time, from any place -- today's retailer must offer a consistent buying experience across channels too. This is an omnichannel experience.
Back in December, Amazon angered retailers with its Price Check App, which allows consumers to compare prices for items while in-store and buy them at a lower price online or via their mobile devices. Since then, this process has become known as "showrooming" and new data from various researchers shows why the practice is of growing concern to brick-and-mortar merchants.
In spite of the increasing number of retailers offering branded mobile apps, more shoppers are consulting retailers' websites when researching purchases than are using the same retailers' mobile apps, according to a new study released by Nielsen today.
At iQmetrix, we've been hard at work building products to help retailers enhance the in-store customer experience. Our cell phone store POS solution streamlines the POS and back-of-house operations, while our XQ Interactive Retail solutions shore up the front-end, consumer interface within the store.
5 Checkpoints for Next-Gen Wireless Retail Places
On Friday, Alexia Tsotis of TechCrunch.com reported Google is planning on releasing a voice-activated inboard phone app, called "Assistant," to compete with Apple's Siri. Sources say the product will be available by the fourth quarter of 2012.
iQmetrix CFO Ron Tweddle attended the 2012 Mobile World Congress. The following are his notes from keynotes and sessions he attended.
Follow Ron on Twitter @rtweddle.