We recently teamed up with RIS to sponsor the 26th Annual Retail Technology Study and while we don't mean to toot our own horns, there are some pretty neat findings in all of this data. This year's study was conducted in January and February and is based on input from over 100 respondents from national or large regional retail chains. We've gone through the study with a fine-tooth comb and decided to break it down into a bite-sized list covering key elements and discoveries in the study.
We’ve heard the trends, predictions and insights about consumer electronics a million times. Devices will become more specialized. The newly released iPhone has revolutionary features. IoT is everywhere. The list goes on.
Over the past few years, we’ve seen the dissolution of many large brick-and-mortar stores both internationally and in Canada, including Walmart (154 stores), Finish Line (150 stores), Gap (35 stores) and more. While big-box department stores like Nordstrom and Saks Fifth Avenue are expanding, other retailers are closing due to declining sales, high rent and the struggle to compete in an extremely competitive retail environment.
It’s not a surprise to anyone that Amazon was probably the biggest disruptor to retail we have ever seen and as you are likely aware, Amazon is further seeking to disrupt retail, and other major industries with the introduction of new ways to deliver you items cheaper and faster.
I thought I would take a break from blogging about my favorite topic of payments and share with you a bit about my other love… subscription boxes.
It would seem that when it comes to retail, a re-write may be in order for Nat King Cole’s classic L-O-V-E song.
We often look at purchasing options with a two-dimensional focus: either the physical, brick and mortar stores or the online, e-tailer. As consumer demand has changed, many brands have moved to strategies that include both physical and online stores.
By now, you've probably heard of Amazon's not-so-secret plan to dominate the apparel market. Amazon has recently launched 7 private fashion labels that sell a range of mid-priced apparel and accessories for men, women and children.
In our recent blog, The Changing Omnichannel Shopper, we elaborated on bridging the online and offline experiences for changing consumer habits. It’s become increasingly clear that webrooming is just as important as showrooming, if not more so.
Day Two of NRF Retail's Big Show is officially underway. iQmetrix's booth (#4325) will once again be packed full of the latest in customer experience technology and solutions to power and streamline retailers' back-of-house operations.
Like most things in life, when looking at the future of retail, a good indicator of where we are going is to look at where we have been. Since 2010, the way people shop has drastically changed with social media and technology booms. Not only can we now shop wherever and whenever we want, but everyone is now a critic, and we can get a wide range of reviews about products from multiple perspectives.
The entire retail industry is more than informed on the fact that their consumers and their respective consumer habits are changing. New shopping patterns have been evolving for the past 20 years as e-commerce has consistently accounted for more and more retail sales. In more recent years, m-commerce and ‘online in-store’ channels have become more and more prevalent as retailers strive to complete the sale at every possible touchpoint.