Retail

Retail In-Store Technologies Boost Sales

A recent survey conducted by IHL Group and global leader in omnichannel solutions NCR Corporation has gained some intriguing insight into the benefits for retailers of investing in in-store digital technology and seamless shopping experiences. Here are some of the key findings.

The Unified Commerce Landscape Report from NCR Corporation found that retailers who invest in in-store technologies for seamless shopping experiences, personalization and store transformation can see a sales boost of 100 percent or more.

Retailers who deployed mobile POS saw 92 percent higher sales than those who didn’t, according to the findings. Additionally, stores that offer in-store Wi-Fi saw a staggering 663 percent increase in sales compared to stores without.

Mark Benjamin, president and COO, NCR Corporation, was quoted as saying, “The last few years has seen brick-and-mortar retailers fighting back against the online giants, as retailers realize that bricks-and-mortar shops can provide a unique experience that you can’t get on the web. Our research shows the enormous value that can be gained from striking the right balance of investment in technologies that create a seamless shopping experience – whether online or in store – and thus, increased customer loyalty.”

The survey found that, on average, retail leaders spent some 69 percent more on store technologies than other respondents in the survey.

“Successful retailers understand that they need to focus on every area simultaneously, and align these systems in a balanced and strategic way, if they are to unlock all the transformational benefits that technology can bring,” said Benjamin.

Personalized store experiences also afforded retailers greater sales. The survey found that retailers who actively market cross-channel services saw 110 percent higher sales growth. Likewise, stores that employed real-time loyalty programs saw 84 percent higher sales growth than retailers who didn’t.

Additionally, the survey found that stores using cross-channel demand planning saw an average of 102 percent higher sales growth. And retailers using order management systems saw an 18 percent boost in sales growth over retailers who didn’t.

——————————–

Latest Insights:

Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. The September 2019 Mobile Order-Ahead Tracker, serves as a monthly framework for the space. It provides coverage of the most recent news and trends as well as a provider directory that highlights key players across the mobile order-ahead ecosystem.

 

Click to comment

TRENDING RIGHT NOW

To Top