Understanding Purpose Over Place in Retail

Choice is a good thing—especially if you’re a shopper. Today’s consumer seamlessly moves from online, in-store or a combination of the two when making purchases. For the traditional retailer, shopping options beyond the bricks-and-mortar store can feel intimidating.

Want advice on how to enrich your customer experience?To survive and thrive in this environment, in-store retailers must provide an experience that is different from the traditional, staid and disengaged experiences of the past. To bring shopping into the 21st century, retailers can take advantage of the latest technology to make shopping more convenient, secure and enjoyable for customers.

Changing the In-store Experience

To create a unique in-store experience, retail has become more niche and product-focused. Technology continues to play a big role in retail success by providing real value, not just cool hype.

Data visibility in the store also helps retailers dive deeper into captured data to uncover buying intentions. Stanchion™ Store software from NEC strives to help retailers better Know Your Customer to understand their objectives — or their purpose for being in the store — to make it easier for retailers to meet their needs and provide unique shopping experiences. Based on previous in-store shopping behavior or experiences, retailers can predict a shopper’s intentions.

Combining a 360-degree camera to monitor shoppers’ movements with video analytics helps retailers track gender, ages and number of visitors in their locations. This data enables stores to manage staff better, making sure the proper number of associates are on hand during peak traffic times.. Checkout how we enabled Becker’s Central Canada (Couche-Tard, Inc.) store owners to see up to-the-minute sales information for smarter product ordering and overall improved store efficiency.

NEC is working on a solutions to take store analystics a step further, by tyingdemographic data to POS transactions to allow retailers to better understand the kinds of customers they’re serving and what products are purchased. This information improves merchandising, store operations and customer interactions, such as determining which product displays appear to be most effective and which areas of the store experience the most traffic.Retailers can also use heat mapping to track a customer’s product engagement and “dwell times” at a particular display or locations in the store.

Improving the Omnichannel Experience

Consumers tend to want a combination of technology and human interaction while shopping. Research shows that many purchases begin with online browsing, followed by an in-store interaction. Improving a seamless omnichannel purchasing experience is one way traditional retailers can connect with their customers. In-store associates can provide more personalized service by knowing preferences through browsing history and offering convenient payment options.

Get a closer look at the Connected Consumer with this Infographic:

Cashless AND Card-less Payment Options

Easier payment processes are another important component of a seamless customer experience. One of the advantages of online shopping is easy check-out. As retailers turn to new methods of accepting and processing payments, the concept of waiting in a check-out line to pay may become obsolete.

Check out NEC’s mobile POS solutions

NEC’s facial recognition technology, can take it a step further toward eliminating not only cash payments, but even credit cards. Your own face becomes your currency. Payment through facial recognition offers several advantages. Authentication using facial images helps reduce potential fraudulent payments (added security) and eliminates the need to carry multiple forms of ID (more convenience). Since facial data is stored in numerical data, it’s difficult or even impossible for a data thief to actually the identify the faces. Additionally, facial recognition information can be stored in a way to make it accessible at a retailer’s multiple locations around the country.

Another shopping option uses an interactive projection system to enabling ordering, research or payment without a physical device being present. This is a perfect solution for restaurant tabletops or counters in hotel lobbies.

Future of Retailing

With increased consumer confidence, shoppers will continue to spend, both online and in store. In the near term, high-tech solutions will improve supply chain efficiency. Artificial-intelligence-powered chatbots and faster checkout through improved POS and other mobile devices will continue to improve the shopping experience.

To remain a viable option for shoppers, traditional retailers must continue to use technology to gain a deeper understanding of their customers’ preferences and shopping habits to provide a seamless, enjoyable in-store experience for their customers.

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Enriching the Customer Experience

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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?

Find out about how we see The New Era of Customer Service and Convenience.

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.

Learn more about Retail Solutions from NEC.

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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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