The store is where the action is. Self-checkout, in-store analytics, electronic shelf labels, micro-fulfillment, in-store robotics, omnichannel personalization, digital displays, connected dressing rooms, wayfinding – there is a lot more innovation in the contemporary brick and mortar store than in eCommerce.
Stores have been the focus, and stores are going digital for a reason. It is still 85% of all retail, and in some sectors such as grocery, brick and mortar is over 95%. Stores are where the volumes are. Also, smartphones are ubiquitous, and around 40% of shoppers check their phones for prices and to look up product information while in the aisle. Little wonder then, retailers are connecting online and offline experiences.
In addition, a quarter-century of eCommerce has taught retailers the power of customer journey data. The ability to know exactly what products, content, recommendations, and search results contribute to conversion and basket size is powerful. And, retail executives now want the same ability to make data-based decisions and run A/B testing-kind of experiments for store operations. Image processing-based systems allow tracking (anonymized) of store traffic and understand what displays, layouts, and assortments work.
Litmus7 has been on brick and mortar’s journey from the early days of omnichannel. We have led POS implementations and roll-outs, endless aisle, location-based services that drive traffic to stores, BOPIS, mobile-based cart price check, “scan and go”-type self-checkout, and more.
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