Retailers Need to Focus on Point-of-Service over Point-of-Sale for More Personalized Shopping Experiences

Online retailers are offering consumers a personalized shopping experience. As Americans desire fast turnaround and convenience, traditional retailers have an opportunity to beat out digital retail stores that require a day or two for delivery. If the in-person experience can fulfill the same needs, and the physical reward is instant, will a reinvention of the in-store concept lead to less empty stores?

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Is it possible to offer a personalized shopping experience with point-of-service over point-of-sale?

75% of consumers prefer shopping in person. #cx Click To Tweet

Traditional Retailers Are Feeling the Pain

Daily news mentions of brick and mortar retailer layoffs or store closings are not uncommon these days. Bloomberg estimates that traditional retailers are on a record pace for closings or bankruptcy in 2017. Shopping malls across the nation are left with empty storefronts and soon-to-be-empty halls if they are unable to convert the space to other uses.

Meanwhile, U.S. retail sales continue to rise and consumer spending is expected to grow, as gas prices remain relatively low. Cowen and Company retail research shows that high-end malls are still faring well and 75% of consumers prefer shopping in person. The key is to create an experience that is much like online retailers: personal and customer-focused.

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Clicks and Bricks

Online and omnichannel innovator, Amazon, ensures a hyper-personalized shopping experience and customer journey. For each loyal customer, Amazon knows what kind of computer the shopper owns, which hobbies, music, and books have been enjoyed on past visits.

NEC empowers retailers to “Know Your Customer” similar to Amazon. At NRF this year, we debuted our facial payment solution, which allows registered shoppers to pay for their products with their face. No cash, checks or cards are necessary!

Reinventing the In-Store Experience

Brick and mortar retailers have another opportunity to attract consumers with the same personalized shopping experience offered by online retailers, including instant gratification rather than the delay that comes with shipping.

POS systems, once the only interaction when making a purchase, must now be modernized to enhance in-store customer encounters with the business. Inventory must be instantly tracked and replenished and the supply chain must be efficient to keep up. Infrastructure and applications need to be agile enough to withstand changes, updates all while the company stays up, and running 24 hours a day.

Learn about NEC’s POS Hardware and POS Software solutions to boost productivity and enhance customer service.

Point-of-Service in Action

By analyzing shopper preferences, a store suggesting complementary items through digital signage could increase sales during the customer visit. NEC has collaborated with Brierley+Partners to provide seamless loyalty and CRM capabilities using NEC’s facial recognition technology and Brierley’s robust CRM platform hosted Microsoft Azure Cloud.

Before arriving in the store, it’s likely that the customer may have already shopped for an item online. If the retailer has this information, the store can offer loyalty points, highlight coupons, offer education or entertainment around the item or similar items so the customer is drawn back and stays longer. Staying “in store” is just as important as staying “on page” on a website.

In-Store Shopping Isn’t Dead

While online shopping is increasing, a majority of shoppers are still walking into brick and mortar retailers. The challenge facing retailers is that shoppers are expecting a different experience. If retailers already have the data and the POS hardware, the next step is reinvention. Analyze the data. Make the information usable to create customized, personal, and creative experiences for the customer. Customers want to be loyal. Shouldn’t retailers make it easier for them?

To stay in the know about the latest advancements for retailers, follow us on LinkedIn and Twitter and check out Keeping Pace with the Retail Revolution Using Integrated Solutions.

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Ready to “face” the latest technology for shoppers?

At NRF17, we debuted our new facial payment solution, which allows registered shoppers to pay for their products with their face. No cash, checks or cards are necessary, you just use your good looks to save time and money.

You might have heard about the Amazon Go store prototype in Seattle, in which customers simply walk in, select their products, and walk out. With NEC’s NeoFace® facial recognition technology, which by-the-way has one of the world’s highest level of authentication accuracy, you can give your customers a similar experience.

How does it work?

Our technology matches pre-registered facial images against images taken and stored in the NeoFace® database by the POS (point of sale).  All a customer needs to do is opt-in to use the solution by submitting their photo and entering a PIN to keep their account secure. The PIN is entered at time of payment to confirm the person’s identity and account information.

Pretty cool! Watch our NRF video to see how it can work with you existing POS and how it can be deployed in your store.

Has it been tested?

Right now, NEC is testing the solution in Japan in cooperation with Sumitomo Mitsui Financial Group, Inc. (SMFG), Sumitomo Mitsui Banking Corporation (SMBC). In the trials, NEC, SMBC and Sumitomo Mitsui Card are testing the recognition performance, employee receptivity to biometric authentication, and functionality of the service. During the trial the goal is to gain the experience and know-how to provide a safe, secure, convenient cashless (and card-less) payment service utilizing facial recognition technology at other branches in the future.

We are also testing this solution in small shops in our headquarters building in Japan. Our trials are measuring authentication performance and accuracy, specifically when dealing with multiple conditions inside stores, such as, the types of cameras in use, camera positioning, installation, lighting and security.

Where can I learn more?

Retail solutions from NEC aim to help you “Know Your Customer” better. We work closely with our customers to develop a deep understanding of business needs to provide the best retail solutions possible and our facial payment product is just one of the innovative ways we can help retailers get things moving better — and faster — right in your own stores.

Check out NEC’s full retail suite by visiting www.necam.com/smartretail or let us know if you want more information by filling out the form below.

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