Why Your Retail Business Needs a Mobile POS System

Women on Business

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The Future of Retail is Mobile – Infographic

Women on Business

Infographics ecommerce m-commerce mobile commerce mobile retail mobile shopping retail trends We''ve Moved! Update your Reader Now. This feed has moved to: [link] If you haven''t already done so, update your reader now with this changed subscription address to get your latest updates from us. link].

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Don’t Fail At Retail: Tricks For Beating The Competition

Strategy Driven

Launching a company in the retail industry is harder today than ever before. So, all new retailers need to launch a website too. Nobody wants to fail at retail because you often have to invest a lot of money to get the operation off the ground.

4 Creative Ways to Use Mobile Payments In Your Retail Business

Women on Business

We've Moved! Update your Reader Now. This feed has moved to: [link] If you haven't already done so, update your reader now with this changed subscription address to get your latest updates from us. link]. Reader Submission mobile payments

Don’t Believe These 5 Ecommerce Fables that Ruin Your Business

Women on Business

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E-Commerce Is Not Eating Retail

Harvard Business Review

The recent headlines about retailing are nothing if not provocative. They seem to bolster Marc Andreessen’s prediction that by the end of this decade “ retail guys are going to go out of business and e-commerce will become the place everyone buys.”. And panicked retailers who get confused about what’s really happening will head off in dangerous directions. There’s no doubt that digital technology is transforming the retail industry. Competition Retail

How Retail Can Thrive in a World Without Stores

Harvard Business Review

To embrace this market shift, retailers will need to experiment with a range of technologies and strategies across marketing, supply chain, and merchandising. In categories like furniture and beauty, retailers are experimenting with other ways to offer sensory experiences. Discovering and trying on products is only part of the retail experience; retailers need to offer delivery options that fit into consumers’ lives. Kenneth Andersson for HBR.

Toys ‘R’ Us Is Dead, but Physical Retail Isn’t

Harvard Business Review

The news is part of a larger trend of closings that some are calling the retail apocalypse. The rise of e-commerce, combined with a shift in consumer preference toward dining out over shopping and with years of overbuilding , has made for distinctly unattractive economics in traditional retail. Amazon has made a big push into physical retail, capped off by its $13.7 None of these ideas are necessarily bad, but they fail to address the shifting economics of retail.

How to Succeed in a Retail Career

Strategy Driven

Are you thinking of starting a career in retail? Many people find that working in retail is rewarding and there are many opportunities out there. The retail industry has a lot to offer someone that is willing to work hard and keep their nose to the grindstone.

How Location Analytics Will Transform Retail

Harvard Business Review

In fact, 98% of IR500 retailers use some form of web analytics. Location analytics firm RetailNext currently tracks more than 500 million shoppers per year by collecting data from more than 65,000 sensors installed in thousands of retail stores. For their part, venue owners — from retail to airports to education to amusement parks — are applying insights gathered from location analytics to all aspects of their business including: Design. Retail Technology

How to Start a Successful Retail Business

Strategy Driven

The retail industry is the practice of selling goods to the public for their direct use, not for resale. Many people dream of starting their own business in retail. Starting a successful retail business can be challenging, but like other challenges, it can also be very rewarding.

Virtual and Augmented Reality Will Reshape Retail

Harvard Business Review

Virtual reality (VR), along with its sister technology augmented reality (AR), offers retailers the opportunity to transform how people shop. The successful incorporation of VR and AR into retail models also has the potential to vastly change the way retailers are thinking about stores of the future. Retailers looking to develop a virtual commerce strategy should consider breaking it down along the following dimensions. Your camping trip is coming up.

3 Changes Retailers Need to Make to Survive

Harvard Business Review

Few industries are being disrupted as drastically as the retail industry. More retail purchases are moving online, and a growing number of manufacturers now sell to consumers directly, cutting out retailers entirely. Making matters more challenging, these shifts are happening across practically every retail category – books, entertainment, housewares, clothing, food, financial services, and even energy. Danita Delimont/Getty Images.

A New Way to Rate Retailers on Providing Good Jobs

Harvard Business Review

But the employee-centered way is a better way — even in low-cost retail. In my research, I’ve found that retailers using an employee-centered operations strategy, which I call the good jobs strategy , have two strategic advantages. We started with food retail and plan to expand it to other settings once we get feedback on our methodology. (So food retailers that publicly file with the U.S. Executives have a choice in how they run their operations.

A Study of 46,000 Shoppers Shows That Omnichannel Retailing Works

Harvard Business Review

Traditional retailers are feeling the heat. Even as competition intensifies , shoppers’ visits to retail stores are declining every year, leading one industry veteran to ominously ask his peers , “Is anyone not seeing large traffic declines?” ” Online retail, on the other hand, is thriving. Retail sales through digital channels (including mobile sales) increased by a massive 23% in 2015. Much of these gains have gone to online retailers.

Tesco’s Downfall Is a Warning to Data-Driven Retailers

Harvard Business Review

More than any other retailer of scale, Tesco had committed to customer research, analytics, and loyalty as its marketing and operational edge. Practically every retail Big Data and analytics case study over the past decade explicitly referenced Tesco as “best practice.” Better insights, loyalty and promotion may not be worthless, but they are demonstrably worth less in this retail environment. Information & technology Leadership Retail

SME banking: a specialist bank or integrated service within a retail/commercial bank?

Chartered Management Institute

I have attended the Africa SME Banking Conference in Johannesburg in early May, organised by the International Finance Corporation (IFC) – part of the World Bank. Having heard several presentations and held few discussions over those 3 days I am under impression that the SME banking model needs a specialist bank rather than an all-purpose one which can apply different risk tolerance and underwriting processes compared to those used in traditional banking risk management model.

How Retailers Should Think About Online Versus In-Store Pricing

Harvard Business Review

One of the biggest questions faced by brick-and-mortar retailers today is whether prices should be the same online and in stores. Gaining clarity on this issue is critical for traditional retailers to successfully compete in both environments. Brick-and-mortar retailers have been struggling with pricing since Amazon’s inception, 23 years ago, so why is it so important to resolve this issue now? Well, the news for retailers keeps getting worse.

How to Run a Retail Store That Outsells the Competition

Strategy Driven

If you own a retail business and you aren’t satisfied with just being part of the bunch, then you’re probably looking for some tips to go about out-selling the competition and really carving your mark in the industry. Entrepreneurship entreprenuership retail store strategydriven

How Data Visualization Answered One of Retail’s Most Vexing Questions

Harvard Business Review

In e-commerce, advances in tracking and analytics have made it possible for retailers to understand what individual customers are doing before they make a purchase, and to gather and analyze hundreds and thousands of data points to identify trends. Decision making Retail Technology

The Amazon–Whole Foods Deal Means Every Other Retailer’s Three-Year Plan Is Obsolete

Harvard Business Review

When Amazon announced last week that it will acquire Whole Foods Market, a grocery chain with over 450 retail stores and deep industry talent, for $13.7 You could almost hear the three-year plans of every grocer, and nearly every other traditional retailer, grinding through the shredding machines. Nobody in the industry should be surprised that the future of retailing is moving toward a fusion of digital and physical experiences. retail sales, or $391 billion of $4.9

On Leadership, Appearance and Being Professional

Linked 2 Leadership

Coaching Corner Emotionally Intelligent Leadership Future Leadership Issues Leadership Lessons Learned Leading & Developing Other Leaders everyday professional leadership Leading the future Professionalism retail leadershipA really good buddy of mine got me thinking about something he said one day: “Be a professional, this is the key to being a great person and great success.” […]. The post On Leadership, Appearance and Being Professional appeared first on Linked 2 Leadership.

How Low-Paying Retailers Can Adapt to Higher Minimum Wages

Harvard Business Review

So how can a low-wage retailer increase productivity? But it’s a different story for retailers and fast-food companies — the largest low-wage employers. So far, the technology we hear most about in retail is self-checkout.

The Potential of Geolocation for Revolutionizing Retail

Harvard Business Review

Traditional brick-and-mortar retail stores have many disadvantages when competing against online counterparts. New technology promises to allow retailers to beat online players at their own game, transforming the customer experience and dramatically improving their positioning.

Retailers’ Holiday Strategy Doesn’t Have to Be “Discount Everything”

Harvard Business Review

But there’s a surprising insight in the data released by the National Retail Federation : 36% of shoppers reported that all of their purchases were on sale; 11% made that claim in 2015. Analysts attribute this more than 300% increase to widespread discounting by retailers. unemployment rate , applications for unemployment at a 43-year low , median income on the rise ), why are retailers choosing to battle it out on price?

Research: When a Retail Store Closes, Crime Increases Around It

Harvard Business Review

The benefits that have been cited for colocating housing and retail establishments include reduced travel distances, more-pedestrian-friendly neighborhoods, and stronger local character. Recent research suggests another important potential benefit: Retail establishments may play an important role in crime prevention. In our research , we examined the effect on crime of temporarily shuttering two types of retail businesses: medical marijuana dispensaries (MMDs) and restaurants.

Big-Box Retailers Have Two Options If They Want to Survive

Harvard Business Review

Big box retail stores are losing relevance, while e-commerce and specialty stores grow in appeal. As a result, big box retail must shift its strategy — from competing on access and selection to staging big experiences and providing big discounts. is over-retailed.

Retail Rage

Harvard Business Review

I teach a course on retail supply-chain management that includes several classes on store execution. Sometimes I do this exercise when retail executives are visiting the class to support a case we're discussing about his or her company. A Mega-Problem for Retailers. Losing immediate sales when customers can't accomplish their shopping missions because of the problems listed above is a huge issue for retailers. Why is this happening and how can retailers fix it?

Online Retailers Should Care More About the Post-Purchase Experience

Harvard Business Review

Soon retail brands aligned their strategies around two critical moments: 1) when a customer decides whether to purchase a product, and 2) when a customer uses the product for the first time. Focusing on the post-purchase experience is the next frontier for online retailers. In 2005 A.G.

To Compete with E-Commerce, Retailers Need to Leverage Mobile

Harvard Business Review

In the physical world, retailers have become quite adept at following the relatively faint tracks shoppers leave in their stores, primarily through their participation in loyalty schemes. Retailers can’t tell what shoppers looked at but didn’t buy, or whether they forgot something that they likely needed. And mobile provides a unique opportunity to help physical retailers compete. Retailers can also upgrade their traditional loyalty programs using mobile technology.

When Positive Product Reviews Backfire for Retailers

Harvard Business Review

Product returns are a costly problem for retailers. In online retailing, return rates are an even bigger problem. In online retailing, most products are returned because customers aren’t satisfied with what they get—but this isn’t necessarily due to product defects. This is why retailers provide information—product descriptions, pictures, and videos—to help customers make more informed purchase decisions.

How Technology Is Transforming Retail - SPONSOR CONTENT FROM Ocado

Harvard Business Review

Across the retail landscape, a war is going on, and the battles are being fought on multiple fronts: business models, channels, brands, customers, technologies, and more. Postal services are becoming fulfilment platforms, taxis are delivering parcels and food, recipe box companies are eating the lunch of restaurants and grocery retailers, and so on. This is having a knock-on effect on traditional retail brands that are struggling to compete in the new world order.

How Retailers Use Personalized Prices to Test What You’re Willing to Pay

Harvard Business Review

The reason why retailers try to offer a personalized price goes back to the downward sloping demand curve highlighted in Economics 101. Web retailers can similarly profile their shoppers. Much like car salespeople, web retailers can electronically evaluate the characteristics and actions of each shopper to create a profile that generates a personalized price. Whether personalized pricing catches on with web retailers is now up to consumers.

In the Future of Retail, We’re Never Not Shopping

Harvard Business Review

Most retail outlets — whether conventional brick-and-mortar shops, digitally enhanced stores like Macy’s in the U.S. The vocabulary of retailing reflects this model, assuming in particular that shopping is the central component of this model.

4 Reasons Retail Jobs Are About to Get Better

Harvard Business Review

Retail. Bureau of Labor Statistics , the two largest occupations in the United States are retail salesperson and cashier. Retail employees typically receive their work schedules one or two weeks in advance and even those schedules can change at the last minute. A common misconception is that this is okay because retail jobs are mainly for high school or college kids looking for supplemental income. In 2014, the median age of a retail salesperson was 35.

Why Online Retailers Are Starting to Care About Your Feelings

Harvard Business Review

In the rush to get online, retailers focused on building lower-cost digital equivalents of their stores that left behind many of the human connections we once enjoyed. Other retail start-ups are developing business models that monetize social connections in new ways.

How Retailers Are Transforming the Shopping Experience

Harvard Business Review

This has particular implications for retail and how we shop. In this interactive HBR webinar, Rigby explores the future of retail and shares five best practices about digital-physical mashups discovered from global leaders in 20 industries. How separate or integrated are your physical and digital operations? In the early days of the online revolution, some executives ignored the digital world, viewing it as a passing fad.

How 4 Retailers Became “Best Places to Work”

Harvard Business Review

These retailers pay better than many others and that counts for a lot in a low-wage industry like retail. Over the past year, we hosted current or former leaders from each of these retailers at MIT’s Sloan School of Management, and all four talked about a corporate culture of setting high expectations and creating conditions that encourage employees to innovate.

Retailers Can’t Rely on Holiday-Season Gimmicks Like They Used To

Harvard Business Review

This holiday shopping season, the keys to winning for retailers will not be having the “toy of the season,” free shipping, or huge Black Friday sales. Outdoor retailer REI does this well across their channels including email, mobile, website, stores, in-store kiosks, and print.

How an Online Grocery Platform Could Reshape Retail as We Know It - SPONSOR CONTENT FROM OCADO

Harvard Business Review

To answer that question, one first needs to understand what makes online grocery delivery so different from other forms of online retail. For a traditional retailer, building that solution is a massive and daunting prospect. If you can do online grocery, then you can do some other forms of online retail; but the reverse definitely does not implicitly follow. These offline retailers already have their trusted brand, their efficient supply chains, and their loyal customers.