News

Verizon Business sees mobile commerce demand, cloud adoption spread

BY CSA STAFF

Basking Ridge, N.J. — Verizon Business, which delivers integrated, secure IT solutions to many of the world’s largest retailers, said it predicts the following five trends will shape the retail industry in the coming year.

First, the company expects mobile commerce demand will spike. “Consumers have high expectations for m-commerce,” according to Verizon Business. Customer demand for m-commerce, however, will outpace retailers’ ability to deliver it. “Retailers must adapt their IT systems and processes to support m-commerce, or risk alienating customers,” the company said.

The cloud is expected to go mainstream. Verizon Business said
retailers will turn to the cloud (web-based computing delivered “as a service”) more and more as they look to control cost and reduce complexity while boosting agility. Also, ownership of brand will shift from retailer to consumer. “Consumers are relying more on discussions and customer evaluations that take place over social media to drive product selection, as opposed to supplier or retailer advertising,” said Verizon Business. “Consumers will increasingly ignore store associates and instead conduct research on their own — or via their mobile device while in the store.”

Security and compliance continue to be concerns, the company said. New technologies will require increased protection of consumer personally identifiable information such as social security (or national identification) and credit card numbers. Also, with the October release of the updated Payment Card Industry Data Security Standard (PCI DSS), retailers must quickly get up to speed on changes to the standard and incorporate them into their IT processes. Updates to the standard will force retailers to take a much closer look at securing virtualization technology and improving risk-management capabilities.

And, finally, shopping in “silos” will disappear. Previously, retailers operated their various customer touch points as separate business units, using distinct staffs and business processes for their websites, brick-and-mortar stores, and mobile commerce engines. Customers, however, now expect one seamless, consistent store experience, whether they are visiting the store or its website, or shopping from a smart phone.

“The retail industry is rapidly evolving,” said Ravi Bagal, VP retail and distribution for Verizon Business. “Consumers are challenging the industry to adapt to the ways they live and shop today. Supported by emerging technologies, consumers will be more focused than ever on price and convenience. As such, retailers will need to even more clearly differentiate themselves through excellent customer service that’s further enabled through technology.”

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
REAL ESTATE

Survey: Increased focus on real estate for retailers in 2011

BY CSA STAFF

Chicago — Jones Lang LaSalle, in a survey released Thursday, found that protecting and building the brand and driving responsible growth are the chief priorities of major retailers for 2011.

The survey, conducted by Jones Lang LaSalle at its recent Retail Executive Forum event, also revealed that the retail industry is placing increasing importance on the value of real estate as a key component of its business and brand strategies for next year.

Major retailers across a diverse cross-section of sectors including auto parts, entertainment, quick-service restaurants, and fashion were asked to disclose their key business priorities as well as their top corporate real estate challenges and opportunities.

The respondents indicated that protecting and building their brands and driving responsible growth were top business priorities. Ensuring aggressive cost reduction, winning the war for talent, and driving innovation were also listed as critical business concerns. To address these issues, respondents were focusing on more thoughtful, deliberate real estate decisions that generate brand awareness, cut costs, drive customer satisfaction, and promote employee attraction and retention.

“Continued ambiguity within our business climate- – coupled with unpredictable consumer demand, intense competition, and the rapid-fire development of new technologies — is creating extreme complexity within the retail landscape,” said Joe Brady, managing director of Jones Lang LaSalle Corporate Retail Solutions. “Retailers who balance the drive to innovate and grow with smart fiscal planning, staying true to their brand, and attracting and developing talent will be able to leverage the many opportunities today’s market presents.”

The survey also asked retailers to identify their top corporate real estate challenges and opportunities. Developing long-range plans was listed as the top concern, followed by risk management, collecting and analyzing data, and adopting an appropriate CRE staffing model.

“Even though the rate of online shopping continues to increase, the retail industry understands that its real estate is one of its most brand-enhancing assets,” said Lew Kornberg, managing director of Jones Lang LaSalle Corporate Retail Solutions. “Leading-edge retailers are elevating their CRE function from the tactical approach of a decade ago to a high-level, strategic business solution platform that the C-suite can leverage to build the business.”

keyboard_arrow_downCOMMENTS

Leave a Reply

J.Gezad says:
Apr-21-2013 08:10 pm

This article has some great
This article has some great and useful information about this subject. Thank you for sharing it in an easy to read and understandable format.Debt consolidation loans

J.Gezad says:
Apr-21-2013 08:10 pm

This article has some great and useful information about this subject. Thank you for sharing it in an easy to read and understandable format.Debt consolidation loans

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
FINANCE

Kronos Retail Labor Index shows dramatic increase in last-minute holiday hiring

BY CSA STAFF

Chelmsford, Mass. — Kronos announced the December release of the Kronos Retail Labor Index, analyzing the relationship between the demand and supply sides of the labor market within the U.S. retail sector.

The December report, which includes data for November 2010, showed that the Index increased significantly to 3.8%, a 28% increase over last month’s figure of 3.0%. (A level of 3.0% means that for every 100 applications received, three hirings occurred.)

The retailers representing 27,034 distributed locations across the U.S. that make up the Kronos data sample recorded 56,028 hirings (on a seasonally adjusted basis) in November, a dramatic 77.5% increase over the October 2010 seasonally adjusted figure of 31,569. This was also a 9.8% increase over the 51,037 hirings that occurred in November 2009.

The supply of applications was also up significantly, reaching a seasonally adjusted level of 1,457,264 in November. The November figure represented a 38.4% increase over the 1,052,765 applications processed in October 2010.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...