BRP Retail Insights Blog
Features insights from Boston Retail Partners’ executives and consultants on retail trends, technology, best practices, case studies and news
We are seeing a dramatic increase in retailers' interest in cloud-based software applications. Watch this video blog post to hear how many retailers are moving to complete systems on off-premise cloud servers.
According to a new special report by Boston Retail Partners (BRP), retailers recognize the need to evolve their loyalty programs to satisfy today’s savvy, tech-enabled customer. The BRP SPECIAL REPORT: Loyalty Programs – Rewarding the Customer Experience, addresses how consumers’ behaviors and shopping habits have evolved through new technology and expanded channel offerings.
Network technology has improved tremendously in the past few decades. There is a huge opportunity for retailers to leverage the network and mobile devices to engage with consumers in a new way - it's real-time retail!
Retailers who understand their customer at the most granular and intimate level will increase the relevance of interactions and improve customer retention and loyalty and increase sales. Do you really know your customers and can you deliver the experience they expect? Customer context is the answer.
According to the 2015 BRP POS/Customer Engagement Benchmarking Survey, 62% of retailers plan to accept Apple Pay within 3 years. Watch Video now!
Nearly all retailers have an e-commerce presence and consumers expect it. Consumers typically visit a retailer’s Website for product research and comparison before they ultimately make their purchase either online, in the store or on their phone. E-Commerce and m-commerce continues to be a high growth opportunity for retailers and we are keen to learn how retailers are approaching e-commerce in their organization.
According to the BRP SPECIAL REPORT: Real-time Retail – The New Retail Imperative, nearly 50% of retailers indicate that real-time retail is one of their top three priorities! Real-time retail is the ability to deliver a holistic experience to consumers whenever, wherever or however they choose to shop by gathering, analyzing and disseminating customer, product, pricing and inventory data across all channels – in real-time. This enables retailers to leverage “customer context,” which we define as the interrelated factors of customer insights and environmental conditions, to make the shopping experience relevant.
Customers are becoming more demanding — driven by new technology and the real-time capabilities it enables. A customer can be shopping at a store for a specific purse or sweater design and she can take a photo of it and gain instant access to the best prices from multiple competitors and information on the closest store that carries it in stock — in real-time. Customers expect this seamless experience in the store, on the web or anywhere they choose to shop. “Real-time retail” is the new retail imperative.