This week in Retail IT news, mobile POS usage is expected to triple, a U.S. senator issues a “code of conduct” for how stores should use data collected from retail activity, and SaaS companies help marketing efforts.
Mobile POS Technology Usage To Triple
Infogroup Target Solutions has released a report that reveals the number of retailers using mobile point-of-sale technology will triple over the next five years. Of the retail executives surveyed, only 23 percent said they have no plans to implement a mobile check out strategy in place of cash registers. Currently, only 26 percent claim to have mobile POS systems in place, however more than half of executives surveyed plan to implement the technology by 2018. Similarly, retailers also indicate an interest in increasing sales via social media. Currently, only 24 percent of retailers enable consumers to make purchases using social media channels. However, according to the survey, 46 percent plan to deploy this technology by 2018. The study also reveals retailers’ intentions — or rather lack of interest — in implementing free store Wi-Fi and the struggles retailers are facing with Big Data strategies.
“Code Of Conduct” Released For Using Consumer Data
According to RT, U.S. Sen. Chuck Schumer has released a non-legally binding “code of conduct” guiding how analytics companies use consumer data collected during retail store activity. This code has been implemented in order to promote consumer privacy and responsible data use. In light of issues surrounding consumer-tracking strategies, the code requires participating retailers to provide signs notifying customers they are being tracked. Retailers must also provide information on how to opt-out of tracking for customers wary of the process. The code also calls for the collection of “anonymized” information, meaning that the analytics tracking data should lack any identifiable material.
SaaS Expands To Marketing Efforts
Street Fight Magazine has released a new report entitled “How Back-Office Innovation Is Transforming Local Marketing” that discusses how “commerce software” is leading to software-centric approaches in local marketing. Now, in addition to consumer-facing tools, Software-as-a-Service businesses for supply-side systems enable retailers to plan and measure results of marketing campaigns.
Email, Apps, Texts Are 2013 Holiday Advertising Trends
Experian Marketing says a trend for the holiday season is more aggressive email marketing. Experian’s recent survey also predicts more mobile optimization and more promotion of apps, acquisition of mobile numbers, and more texting.
Retail IT Talking Points
McKinsey & Company highlights some of the trends that are currently reshaping the retail industry and provides tips retailers must follow in order to remain competitive. Some of these trends include same-day delivery, growing online retailer business models, and digitized/ personalized ads and marketing via social media. Crowdsourcing and enhancing inventories tailored toward important population groups are important strategies for retailers to consider for growth.
Erika Morphy for CRM Buyer discusses the increasing implementation of CRM capabilities in mobile apps in mobile POS service platforms. Morphy predicts mobile POS systems could soon make offers in real-time based on a customer’s purchase and on data from other customers who made similar purchases.
In their new report entitled “Reimagining Shopper Marketing: Building Brands Through Omni-Channel Experiences,” Strategy& argues retailers need to reframe omni-channel through a different lens. For instance, the report argues digital content and occasion-based marketing will be key to guaranteeing store purchases and e-commerce conversion. The report features a figure outlining the traditional marketing models and the qualities comprising the new marketing model. The report also includes retailers’ top priorities in omni-channel marketing investments and reveals how companies will be enhancing their various marketing strategies in the next two years.