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Our Favorite 2014 Retail Evolutions

Posted by Christine on Jan 2, 2015
Christine
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It’s hard to believe that 2014 has come to a close. As we kick off what is sure to be another exciting year in retail and its technological advances, we take a quick look back at our favorite evolutions in retail in the last year.

  1. Data is King – there’s no doubt that the proliferation of data available to retailers has grown this year. Beautiful dashboards that provide insights on everything from cross-store inventory, to customer preferences and purchases, enables even the smallest of retailers to save money, improve customer service, and increase revenue.
  2. Personalized Customer Service Enhances Shopping Experiences – with such data and the evolution of mobile, retailers are now able to get closer than ever to customers, providing on-demand checkout, removing barriers like countertops, and managing inventory based on customer preferences and purchase habits. As a result, customer service is better than ever, as is the customer experience, pulling customers back into stores again.
  3. Popularity of Pop Up Stores Continues – the advent of the pop up store continues to grow, with retailers finding fast success in these temporary brick and mortar models. With technology that enables them to quickly ramp up inventory, employee training, and customer insights, pop up stores are easier than ever to deploy. They prove as great testing ground for retailers considering the permanent move to a physical presence. We’ve seen great success in helping retailers from coast to coast with these endeavors.
  4. Brick and Mortar Stores Make a Comeback – Technology has enabled retailers to once again embrace permanent physical stores. While eCommerce still has its place, and is often where smaller retailers begin, consumers are finding pleasure once again in visiting brick and mortar brands and interacting with merchandise prior to purchase. With mobile checkout, on demand and cross-channel inventory capabilities, and personalized customer care that you just can’t get online, retailers are seeing an increase in in-store revenues, and opening physical locations to enhance their eCommerce storefronts.

We’re looking forward to what 2015 will bring in retail technology advancements. Got your own predictions? Be sure to stop by our booth #1121 at NRF January 11-14, to answer our question What’s one word to describe retail tech in 2015?,” and be included in a video to be produced and promoted by Springboard, on the State of Retail Technology in 2015. Booth visitors can also participate in drawings for gift cards and an iPad.

Ready to bring your business into 2015 and be ahead of the trends? Sign-up for a test drive of the Springboard Retail POS software today!

Topics: Business of Retail

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