International Journal of Applied Research & Studies ISSN 2278 – 9480 iJARS/ Vol. II/ Issue I/Jan, 2013/177 1 http://www.ijars.in Research Article Retail Anywhere Authors Anupam Basu Address for Correspondence: HOD, Management (IT and Project) – Brainware Group of Institutions Abstract Since e-commerce went main stream in 2000, most organizations have spent a significant amount of time and money developing and maintaining their e-commerce channel. However, while organizations concentrate on building out their online presence, IT investment in stores has taken a back seat. Very little innovation or transformation has occurred to help bring the in-store retail experience into the 21st century - which is ironic since most retailers still do a vast majority of their overall business through their brick and mortar locations. This is why many retail executives are starting to ask themselves: how can technology transform the in-store customer experience? Mobile devices, such as smart phones and tablets, have already penetrated physical stores through the mobile web, native applications and online retailer price comparison apps such as Red Laser and Amazon. This infiltration of mobile technology inside stores can either help or hinder a retailer’s value proposition. Either way, investment in mobile technology has now become critical. Retailers must understand that just as mobile devices transformed the way people consume news, they are now shaping the way people shop. This paradigm shift in the way people shop is called customer centric retail. It is based on the notion that customer relationships should span the wide spectrum of the touch points between your company and your customer – anytime, anywhere, and any channel. Because of the ubiquitous access to the consumer, mobile devices will be the vehicles responsible for realizing true customer centric retail. Today’s consumers are more demanding than ever. Customers have more choices and purchasing channels than ever before and when they interact with a retailer they want you to know who they are and what they want. To be competitive in today's demanding retail environment, retailers need an integrated retail management system that delivers enhanced customer service across channels while driving growth and increased revenue.
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International Journal of Applied Research & Studies ISSN 2278 – 9480
iJARS/ Vol. II/ Issue I/Jan, 2013/177 1
http://www.ijars.in
Research Article
Retail Anywhere
Authors Anupam Basu
Address for Correspondence:
HOD, Management (IT and Project) – Brainware Group of Institutions
Abstract
Since e-commerce went main stream in 2000, most organizations have spent a significant
amount of time and money developing and maintaining their e-commerce channel. However,
while organizations concentrate on building out their online presence, IT investment in stores has
taken a back seat. Very little innovation or transformation has occurred to help bring the in-store
retail experience into the 21st century - which is ironic since most retailers still do a vast
majority of their overall business through their brick and mortar locations. This is why many
retail executives are starting to ask themselves: how can technology transform the in-store
customer experience?
Mobile devices, such as smart phones and tablets, have already penetrated physical stores
through the mobile web, native applications and online retailer price comparison apps such as
Red Laser and Amazon. This infiltration of mobile technology inside stores can either help or
hinder a retailer’s value proposition. Either way, investment in mobile technology has now
become critical. Retailers must understand that just as mobile devices transformed the way
people consume news, they are now shaping the way people shop. This paradigm shift in the way
people shop is called customer centric retail. It is based on the notion that customer relationships
should span the wide spectrum of the touch points between your company and your customer –
anytime, anywhere, and any channel. Because of the ubiquitous access to the consumer, mobile
devices will be the vehicles responsible for realizing true customer centric retail.
Today’s consumers are more demanding than ever. Customers have more choices and
purchasing channels than ever before and when they interact with a retailer they want you to
know who they are and what they want. To be competitive in today's demanding retail
environment, retailers need an integrated retail management system that delivers enhanced
customer service across channels while driving growth and increased revenue.
International Journal of Applied Research & Studies ISSN 2278 – 9480
iJARS/ Vol. II/ Issue I/Jan, 2013/177 2
http://www.ijars.in
Retail Anywhere understands these needs and delivers a cloud-based retail management system
that brings together POS, eCommerce, CRM and marketing, merchandising and order
management, financials, and warehouse management into a single centrally managed solution.
Retail Anywhere's retail management solution is an end-to-end suite designed especially for
multi-channel retailers and leverages it could be an ERP platform for cloud-based enterprise
management. Linking every step of our enterprise gives us real-time visibility into our entire
retail operation, accessible from anywhere at any time.
Today’s consumers are more demanding than ever. Customers have more choices and
purchasing channels than ever before and when they interact with a retailer they want you to
know who they are and what they want. To be competitive in today's demanding retail
environment, retailers need an integrated retail management system that delivers enhanced
customer service across channels while driving growth and increased revenue.
Retail Anywhere understands these needs and delivers a cloud-based retail management system
that brings together POS, eCommerce, CRM and marketing, merchandising and order
management, financials, and warehouse management into a single centrally managed solution.
Retail Anywhere Mobile Point of Sale (POS)
This type of software incorporates the power and functionality of a traditional POS workstation
into a mobile device that allows you to service customers anywhere at anytime. In addition to
improved service, Retail Anywhere Mobile POS enables associates and store managers to spend
more time on the sales floor, improving productivity and profitability.
Carry out the complete sales process on the Internet Like Quotation & Order Management,
Shopping Basket Management, Price Management and Collaborative Selling, Like Knowledge
Management, Request Management, Live customer support, Customer Self service, Installed
Base management, Complaints and Returns and Billing and Payment
International Journal of Applied Research & Studies ISSN 2278 – 9480
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Retail CRM & Marketing
It is a process or methodology used to learn more about customers' needs and behaviors in order
to develop stronger relationships with them. There are many technological components to CRM,
but thinking about CRM in primarily technological terms is a mistake. The more useful way to
think about CRM is as a process that will help bring together lots of pieces of information about
customers, sales, marketing effectiveness, responsiveness and market trends. CRM helps
businesses use technology and human resources to gain insight into the behavior of customers
and the value of those customers.
Instant messaging, 24/7-customer service, shorter development cycles… today, businesses and
their customers move at a rapid clip. Buy decisions are made quickly and in fact entire
businesses can succeed or fail in a matter of weeks. That means that the no one has the luxury of
waiting months or even years to install a traditional, expensive, client/server CRM application.
The competitive advantage today is on-demand CRM.
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The Core area of CRM being:
CRM interface. This is the overall user interface, including home, pages, tabs, menus,
dashboards, etc., as well as all the factors that affect the usability of the system. This require to
be modified
Account management. The area of a CRM solution where all of the information about the
companies (and the contacts or people at those companies) that the user enterprise has
relationships with, is centrally maintained and managed. In addition, this area includes all
calendar and activity management functionality.
Campaign lead and opportunity management; these areas of a CRM solution are where all of
the selling opportunities are centrally maintained and managed.
Customer Service; this area of a CRM solution is where customer service questions,
requests, problems, and issues are input, tracked, and escalated (if need be), so that
customers are able to get what they need handled in the most efficient and effective manner.
Document Management; this functionality typically includes a document library where users
can store files that other people can access via the web.
Workflow Automation; this functionality can keep a business running smoothly by
automatically assigning tasks (or sending e-mail alerts) based on a business's pre-defined
processes. Workflow rules put workflow alerts and workflow tasks into action whenever the
designated criterion is met.
Desktop Tools; this functionality provides integration with desktop office tools like
Microsoft Excel, Word, and Outlook, as well as wireless support and off-line access.
Reporting, Analytics, and dashboard; this functionality monitors an enterprise's performance
utilizing a variety of pre-defined (yet customizable) reports covering each of the services'
main data areas. CRM solutions also allow users to use data filters, so they report on only
the information needed, and to subtotal or chart the data to help analyze trends and get a
concise picture of what's happening.
Administration and setup; this is the area of a CRM solution where an enterprise can import
or export data and manage user roles (for information access) and security.
Internationalization; internalization provides support for foreign language and real time
currency conversion.
Customization; this is the ability to customize the CRM solution to meet industry- and
company-specific requirements.
Integration; these are tools for integrating the CRM solution with other third party or legacy
systems.
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CRM Construct a business-to-business (B2B) or business-to-consumer (B2C) selling
scenario
Provide customers with personalized, interactive, and easy-to-use sales and self-service
facilities over the Internet
Reduce call center volumes and customer support
Reduce transaction costs of service by supporting self-service access for customers
Improve customer convenience and satisfaction
Perform Product Catalog Management, Content Management, Campaign Management and
Customer Segmentation.
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Retailers need an effective retail CRM and marketing solution to satisfy shoppers and compete in
today’s competitive retail market. Retail Anywhere CRM for retail delivers a complete 360°
view of every customer in every channel, providing the insight we need to deliver personalized
service, build customer loyalty and increase revenue.
Advantages of CRM:
Provide better customer service
Increase customer revenues
Discover new customers
Cross sell/Up Sell products more effectively
Help sales staff close deals faster
Make call centers more efficient
Simplify marketing and sales processes
The types of data the CRM Projects collect directly or indirectly from external vendors:
• Responses to campaigns
• Shipping and fulfillment dates
• Sales and purchase data
• Account information
• Web registration data
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• Service and support records
• Demographic data
• Web sales data
Customer Centric Retail: Mobile Creates a New Shopping Paradigm
Forrester Research calls this new paradigm shift ―agile commerce1;‖ Gartner calls it ―context
aware mobile commerce.‖ Both of these characterizations ignore the central part of the evolution
– the customer. As mobile devices continue to take their place as a central part of a consumer’s
everyday life, the question remains – is your organization positioned for customer centric retail?
Whether or not retailers are ready for customer centric retail, their customers are. As with many
innovations, it is often the customer that leads the market. Signs point to rapidly changing
consumer behavior. In fact, it could be argued that customer behavior relative to mobile devices,
online shopping and the in-store experience has already reached a tipping point.
Customers are increasingly using their mobile devices in-store, and soon it will become second
nature. In-store reviews, price checks against competitors, postings on social networks, and
customer self-checkout all will become a normal aspect of the retail experience.
If the average retail customer no longer thinks about interacting with a retail brand in terms of
discrete channels, then retailers must comply or risk losing customers to competitors that do.
Customer centric retail is the simple belief that the customer should be at the center of the
relationship with your organization. Through their mobile devices, customers will be able to
interact with your brand across any channel, at any time and anywhere.
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A few Statistics:
46% of consumers have used their phone to get product information while in a store.
(Source: Briabe Media, 2011)
70% of iPhone owners report using applications or their smartphone’s web browser to help them
while shopping in-store, and 41% are making purchases directly from their phones.
(Source: Chadwick Martin Bailey and iModerate Research Technologies, 2011)
73% of shoppers with smart phones prefer to reference their mobile device while in-store rather
than ask a sales associate for help.
(Source: Accenture, reported)
Gartner Identifies 10 Consumer Mobile Applications to Watch in 2012
Location-based services (LBSs): Location is one of the main enablers that deliver services to
users based on their context and, Gartner expects the total user base of consumer LBSs to reach
1.4 billion users by 2014.
Social networking: Mobile social networking is the fastest-growing consumer mobile app
category of the 19 tracked by Gartner. Social network platforms are sucking in increasing
amounts of network traffic. They are becoming portals, transit hubs and cloud storage for
increasing amounts of messaging and e-mail traffic, videos, photos, games and commerce..
Mobile search: Visual search is usually related with product search to enable price comparisons
or to check product information. To bring mobile search to the next level, the app would allow
users to take actions based on the result, such as making a call or reservation, buying a ticket,
placing an order, and so on.
Mobile commerce: Today, mobile commerce is more of an extension of e-commerce but in a
smaller form factor and with a more-streamlined experience. However, over the next 24 months,
Gartner expects the emergence of uniquely mobile functions, such as the ability to "check in" to
a store to alert a retailer that you are there, or the ability to add items to a shopping cart simply
by taking a photo of an item or bar code in the physical store.
Mobile payment: Although near field communication (NFC) payment will be included in high-
end phones from 2011, Gartner does not believe that it will become mainstream before 2015. In
order to get consumers on board, payment solution providers need to address ease-of-use for
users and ease-of-implementation for customers without compromising security.
Context-aware service: Context-aware applications provide improved user experiences by using
the information about a person's interests, intentions, history, environment, activities, schedule,
priorities, connections and preferences to anticipate their needs and proactively serve up the most
appropriate content, product or service.
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Object recognition (OR). High-end devices have an increased sensor and processing capability
that enable sophisticated applications to recognize the user's surroundings, including specific
objects of interest. Because OR provides an easy-to-use interface, more apps will come to the
market with enhanced capabilities by 2012.
Mobile instant messaging (MIM): Gartner expects MIM to attract consumers to new types of
unified communication (UC) client, provided by over the top (OTT) service providers such as
Skype. These service providers are threatening traditional communications service provider
voice revenue.
Mobile e-mail: Smart phones have begun to drive the mainstream adoption of mobile e-mail
through a series of technology enhancements enabling low-cost mobile extensions to existing e-
mail service. Gartner expects mobile e-mail users worldwide to increase from 354 million in
2009 to 713 million in 2014, to account for 10.6 percent of the global mobile user base. E-mail
addresses are personal and potentially extremely sticky, thus provide carriers, e-mail service
providers and OTT players with an opportunity to lock in consumers.
Mobile video: Mobile phones with larger screens and media tablets offer the ideal platform for
video consumption and with careful marketing and consumer education, Gartner believes that
carriers and content providers would be able to drive mobile video usage in the coming years.
Cross channel retailing maturity model - Stages and characteristics
Single Channel
Multi Channel
Cross Channel Integration
Seamless Customer Dialogue
Characteristics
Strategy and Strategy & Brand
Management
Customer
Approach/Customer
Experience Design
Organization / Operating
Model
Single Channel
• No channel strategy differentiation; primary
channel focus being brick
and mortar, internet and
direct mail focus on
brochure ware or advertising
• Brand programs are
focused on store
and traditional media
• Some thought given to
online execution,
but not actively pursued as
• Customer is managed primarily in the store;
online is used mostly as a
brochure
• Offer product research
online, store locators
information but no
capability to purchase
online
• Focus and Power is retail outlets
• Online is seen as a niche
which isn't very important
• No real focus on
emerging channels
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commercial opportunity
Multi Channel
• Channel strategies are
differentiated but not closely
integrated. New channels
viewed as incremental
opportunities but not strategic
• Brand is actively managed
in each channel for channel
specific needs; little focus on
how the channels are
integrated
.Maturity has been attained
in the store and online,
some experimentation
with other channels- but
not actively being pursued • No real focus on the
transition of
the customer journey
across channels
Ecommerce department
has growing importance;
still seen as a separate
entity from other
distribution/merchant channels
• No real focus on
development of emerging
channels
Cross - Channel
Integration
• Enterprise level strategic
planning is done to optimize each channel collaboratively
through operating models,
systems blueprints, and
roadmaps
• Brand is managed
holistically across all
channels
• Marketing messages are
tailored and relevant, focus is on creating a dialogue
with the customer
• Building process and
technology capabilities to
meet customer needs and
create a seamless
experience for the
customer regardless
of channel entry point
• Focus on customer
experience and managing the transition/lifetime of
a customer journey which
skips around through
various channels
• Organization model
reflects this strategy by
being organized around
customer, not channel or
product
Seamless Customer
Dialogue
• Customer centric retailing.
The 360° view and insight
on customers drive back-
and front-end across all processes
• There is a single strategy
for retail across established
and emerging channels
which is driven from the
C level; this strategy takes
into account emerging
technology trends and tools
• Brand is systematically
implemented across all
channels, regardless of
platform
• A relevant and
personalized customer
journey and cross channel
dialogue enhances the customer experience
• The customer experience
is completely integrated
across channels, pc, store,
OOH internet device and
all other emerging
technologies;
this process is seamless
and automated
• Organization is
completely designed
around the customer
wants and needs ; all campaigns are focused at
the micro segment or
single customer dialogue
level
• All programs are run
seamlessly across the
channels in an automated
process
• New channels can be
implemented
with only minor effort
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In cross channel shopping behavior the local trend mirrors the global situation
The Accenture’s research confirms the key role of cross channel behavior as a driver of
purchasing in a global context. Globally, as much as 87 percent of customers who inform
themselves about products and services online go on to buy in-store. Millions more still absorb
most of their product information in-store and then buy online. And still today, many stick to
catalogs as an information medium—and then buy in-store. Accenture’s most recent research
from 2010 tells us that their customer market mirrors this trend with 69%of the Customers report
engaging in some form of cross channel shopping. Furthermore the research shows that today the
majority is cross channel by consequently switching channels when moving from orientation to
purchase phase during their journey.
Their recent findings say found that 20% of the cross channel shoppers seamlessly switch
channels to their convenience during the purchase phase, e.g. switching channels for purchase,
taking from stock on hand/pick-up/home delivery, return or after-sale needs.
Anytime, Anywhere, Any Channel
Customer centric retail will immediately offer tangible benefits for improving the in-store
experience, which will alleviate many of the problems that have long plagued retail executives.
Innovative retailers are learning how to leverage mobile devices to help guide their customers
through the store, and are completing more sales as a result.
Best Practices for Building A Mobile Customer Centric Strategy
In order for technology to truly create a competitive advantage, the strategy must benefit both the
retailer and its customer. While customer centric retail continues to take shape, there are several
best practices that must be at the center of any rollout strategy. The following key points detail
the technical and business factors to be considered when planning to implement a mobile
strategy in-store.
5 keys to building a mobile customer centric strategy