By Steven Rodriguez & Alexa Genova
While attending the National Retail Federation’s (NRF) Annual BIG Show, it became apparent what an impact technology is going to have on the future of retail.
Sure, we see and use technology to shop now, whether it’s shopping online, using our Smartphone for a coupon or just “checking in” via social media at a store. But what we saw at NRF gave us a glimpse into how technology will change retail as we know it.
By Sima Nadler
Whether it’s finding those gluten-free crackers, getting the best price for sunblock, or just navigating inside the store, new technology is changing the way we shop. We can already compare prices and products using our smartphones, and soon we’ll have a cognitive, digital shopping assistant ready to answer all our questions.
This week IBM announced an augmented reality technology with Tesco, one of the world’s leading retailers, that will enable the company to do things like manage more effectively how products are displayed on shelves – ensure they are arranged according to plans that specify the best position, amount, and arrangement. This same core technology can also be used to help shoppers compare products or find what they’re looking for. Continue Reading »
By Scott Burnett
Despite an impressive track record of pioneering technology, today’s consumer electronics industry finds itself in the throes of a of massive transformation, driven by the proliferation of Internet-enabled devices that offer new intelligence and connectivity rivaling the ubiquity of electricity.
The tectonic shift is compelling electronics companies to search for new and sustainable growth opportunities as they set course to ride the next wave of the Internet of Things. The solution for a growing number of companies lies in the increasing possibilities of data analytics and cloud computing. Continue Reading »
By Billy Yuan
As smart phones become an indispensable part of our daily lives, companies in every industry are trying to develop ways to make this “second screen” enhance their marketing efforts, extend their reach, and most importantly, better serve their customers.
The purpose of the second screen is to augment the primary experience, whether that’s watching the game, grocery shopping, or buying a cup of coffee, and help connect the user to the brand.
A growing number of leading brands understand this and have embraced the second screen into their marketing strategies. ESPN has done a stellar job of serving its customers through multiple channels with their “Sportscenter” and “Watch ESPN” apps. No matter where the ESPN viewer is, he or she can follow the game by either streaming it or following the scores. If the user is watching the game on TV, the smart phone becomes a social tool and an encyclopedia all in one – tweet about a game-winning basket and look up that player’s stats in a matter of swipes and taps. Continue Reading »
By Jill Puleri
These are crucial times for brick-and-mortar retailers as they evolve to put the consumer at the center of all that they do. Those that make good decisions are going to prosper; those who don’t are going to slip to the back.
Central to retailers’ ability to remain relevant is their response to the mobile opportunity. Mobile commerce is expected grow 115 percent over the next 12 months. Though the opportunity is clear, capitalizing on it is full of complexity as retailers integrate web sites and supply chains together with the numerous mobile devices that consumers are using to shop.
Just a few years ago, many retailers were working feverishly to push out shopping applications for mobile devices. There was good reason for the rush: tens of millions of consumers are jumping on the smart-phone band wagon and using them to shop. Continue Reading »
By Michael Haydock
Jewelry sales are set to shine this year and expected to grow more than 11 percent in the second quarter and nine percent overall this year, according to a new Big Data-based retail forecast from IBM.
According to the analysis, improved consumer confidence, lower unemployment and enhanced stock dividends from the fourth quarter of 2012 have combined to leave people ready to start spending on luxury items again, like jewelry.
In addition, key retailers are buttressing the economic landscape and driving sales by leveraging Big Data analytics to better understand and respond to customers and trends. Sterling Jewelers, for example, which owns the popular Jared and Kay brands, overhauled its digital channels to better respond to changing consumer preferences. The move led to an increase in online sales of 49 percent this past holiday season. Continue Reading »