The Evolution of “Saving the Sale” and What It Means Today | Part 3 of 3
By Wouter Ubbels
By Wouter Ubbels
So far in this three-part series on how to “Save the Sale”, I have covered:
In this third and final part of this “Save the Sale” series, the discussion will slightly shift toward the challenges retailers experience when attempting to digitize their business model to increase sales by enhancing their customers’ experiences.
In a recent article entitled, The Digitalized Retail Store – a Conversion Driver or a Giant Headache?, author Tom Vieweger highlights the challenges retailers face when digitizing their operations, as well as the steps retailers must take to successfully accomplish this relevant transition. Vieweger states retailers must first lay a foundation, meaning whatever “digital touchpoints” a retailer utilizes (i.e., displays, in-store kiosks or smart mirrors), they can only drive conversion if the promoted products are actually available.
Begin innovating with customers, as opposed to for customersTom Vieweger
To accomplish the next step laid out by Vieweger, retailers must “play, measure, learn & adjust,” meaning they need to learn how customers react to offering new services so they can begin innovating with customers, as opposed to for customers. The third and final step Vieweger lays out for retailers looking to successfully digitize is to stay flexible by removing internal barriers while creating new, agile approaches that can be adjusted as technology changes.
The bottom line? Accurate, real-time stock information is essential for any organization launching into this new world of retail. Launching new digital initiatives that inspire customers to purchase more items, only to be disappointed when the item is not in stock, will only serve to damage a retailer’s brand and alienate customers. RFID and EPCIS standards are the keys to success in this arena, as RFID enables a high stock accuracy while EPCIS is a standardized protocol to exchange information on RFID events.
At the Retail Industry Leaders Association’s (RILA) Asset Protection Conference that will be held April 29 – May 2, 2018, in Orlando, Fl., retailers and academia team up to present an education session entitled, Teaming Up to Secure Self/Mobile Checkout: Lessons from US & UK Retailers. In light of the fact that self-reporting by retailers, video, and other evidence indicates current mobile checkout and self-checkout business models may be creating significant losses and inventory distortions, Read Hayes of the University of Florida & the Loss Prevention Research Council (LPRC), and Adrian Beck of the Department of Criminology, University of Leicester, teamed up with retailers to produce this engaging, value-packed session that will address the technologies needed to effectively play in the new retail landscape.
Attendees will hear from these respected academics who will share their latest research findings on the nature and extent of the risk posed by self-scan systems, together with retailers who are utilizing this technology in their businesses. If you have not already registered to attend this conference, you may do so by clicking here. This is a session you will not want to miss!
Nedap will be displaying their latest RFID technology, including RFID-based EAS, at this year’s RILA Conference April 29 – May 2, 2018, in Orlando, Fl This is the perfect opportunity for you to stop by Booth 626 to experience firsthand how RFID provides the technological foundation needed to successfully launch a self-checkout or mobile pay platform while still protecting your merchandise.