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How shoppers view technology

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How shoppers view retail technology

A US report has found most shoppers value the role of technology in retail, with innovation that assists in the product search and selection process their favoured form of tech implementation. According to the latest Consumer View Report from the US National Retail Federation more than three in five shoppers believe technology and innovation has…

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$71 billion in lost retail opportunity

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RETAIL OPPORTUNITY

Negative shopping experiences are costing Australian retailers $71 billion in lost revenue each year, with out of stock events and long lines the factors most likely to see consumers seek gratification elsewhere. These are the recent findings of a report by global payments provider Adyen, who surveyed consumers and retailers early this year, identifying eight…

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The new retail metric – “return on experience”

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The new retail metric – “return on experience” ROX

Big brands should be looking beyond traditional metrics like return on investment and measuring the return on experience, according to the latest Global Consumer Insights Survey from Price Waterhouse Coopers (PwC). In their 10th annual survey of over 21,000 consumers globally, they note the age of a digitally savvy consumer means a superior customer service…

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New report finds a surge in shoplifting

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Shoplifting

An Australian-based shoplifting study has found the crime is surging, with major retailers losing over $3.3 billion last year alone. The research further indicates self-service checkouts and increasingly brazen criminals are driving the rising trend, with the Sydney Morning Herald (SMH) noting retailers have reached “crisis point”. So, what’s changing on the shoplifting front? A…

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Apple among the retailers revamping to enhance customer experience

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Retailers revamping to enhance customer experience

Tech giant Apple is among the latest retailers to revamp its stores in a bid to enhance the customer experience, unveiling a new-look outlet at Bondi Junction in Sydney. The re-imagined retail store features a focus on “education and inspiration”, while also boasting environmentally friendly credentials. It follows a trend that sees many big retailers…

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Nine reasons Electronic Article Surveillance is on the rise

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Nine reasons Electronic Article Surveillance is on the rise

A recent US study has found more and more retailers are turning to electronic article surveillance in a bid to combat shoplifting, with the adoption of merchandise alarms and security tags increasing in the past year. The findings were noted in the US National Retail Federation’s annual security survey and support a further report that…

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Is the retail future checkout free?

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Is the retail future checkout free?

7-Eleven has become the latest Australian retailer looking to make the retail experience checkout free, with the trial of a new app that allows customers to go “cardless and cashless”. Announced last week, the trial follows in the footsteps of grocery retailer Woolworths and of course Amazon Go in the US. The 7-Eleven trial is…

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Disruption is business as usual, according to Australian Retailers Association report

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The Australian Retailers Association has released their 2019 report into the State of Retail Technology, finding retailers need to step up and treat tech disruption as business as usual or be forced to step aside. The report notes many retailers are harnessing the power of technology, but are overlooking critical opportunities and struggling to unite…

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Augmented Reality – The new edge for bricks and mortar

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Augmented Reality, new edge for bricks and mortar

Augmented Reality is touted as one of the biggest tech trends for retail, with experts tipping it could just offer bricks and mortar the edge they need to thrive in an e-commerce era. Its potential is considered so important, in 2016 most speakers at the US National Retail Federation Conference in New York singled it…

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Gen Z equally driven by physical and digital retail

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Generation Z equally driven by physical and digital retail

Born with the internet at their fingertips and a mobile phone in their hand, Generation Z seamlessly blurs the online and real world when it comes to retail. Yet, according to a new study, they still prefer stores to have both a digital and physical presence, and the majority favour websites over apps when it…

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