Retail Anywhere - hgsitebuilder.com · Retail Anywhere understands these needs and delivers a cloud-based retail management system that brings together POS, eCommerce, CRM and marketing,

International Journal of Applied Research & Studies ISSN 2278 – 9480

iJARS/ Vol. II/ Issue I/Jan, 2013/177 1

http://www.ijars.in

Research Article

Retail Anywhere

Authors Anupam Basu

Address for Correspondence:

HOD, Management (IT and Project) – Brainware Group of Institutions

Abstract

Since e-commerce went main stream in 2000, most organizations have spent a significant

amount of time and money developing and maintaining their e-commerce channel. However,

while organizations concentrate on building out their online presence, IT investment in stores has

taken a back seat. Very little innovation or transformation has occurred to help bring the in-store

retail experience into the 21st century - which is ironic since most retailers still do a vast

majority of their overall business through their brick and mortar locations. This is why many

retail executives are starting to ask themselves: how can technology transform the in-store

customer experience?

Mobile devices, such as smart phones and tablets, have already penetrated physical stores

through the mobile web, native applications and online retailer price comparison apps such as

Red Laser and Amazon. This infiltration of mobile technology inside stores can either help or

hinder a retailer’s value proposition. Either way, investment in mobile technology has now

become critical. Retailers must understand that just as mobile devices transformed the way

people consume news, they are now shaping the way people shop. This paradigm shift in the way

people shop is called customer centric retail. It is based on the notion that customer relationships

should span the wide spectrum of the touch points between your company and your customer –

anytime, anywhere, and any channel. Because of the ubiquitous access to the consumer, mobile

devices will be the vehicles responsible for realizing true customer centric retail.

Today’s consumers are more demanding than ever. Customers have more choices and

purchasing channels than ever before and when they interact with a retailer they want you to

know who they are and what they want. To be competitive in today's demanding retail

environment, retailers need an integrated retail management system that delivers enhanced

customer service across channels while driving growth and increased revenue.



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Retail Anywhere understands these needs and delivers a cloud-based retail management system

that brings together POS, eCommerce, CRM and marketing, merchandising and order

management, financials, and warehouse management into a single centrally managed solution.

Retail Anywhere's retail management solution is an end-to-end suite designed especially for

multi-channel retailers and leverages it could be an ERP platform for cloud-based enterprise

management. Linking every step of our enterprise gives us real-time visibility into our entire

retail operation, accessible from anywhere at any time.

Today’s consumers are more demanding than ever. Customers have more choices and

purchasing channels than ever before and when they interact with a retailer they want you to

know who they are and what they want. To be competitive in today's demanding retail

environment, retailers need an integrated retail management system that delivers enhanced

customer service across channels while driving growth and increased revenue.

Retail Anywhere understands these needs and delivers a cloud-based retail management system

that brings together POS, eCommerce, CRM and marketing, merchandising and order

management, financials, and warehouse management into a single centrally managed solution.

Retail Anywhere Mobile Point of Sale (POS)

This type of software incorporates the power and functionality of a traditional POS workstation

into a mobile device that allows you to service customers anywhere at anytime. In addition to

improved service, Retail Anywhere Mobile POS enables associates and store managers to spend

more time on the sales floor, improving productivity and profitability.

Carry out the complete sales process on the Internet Like Quotation & Order Management,

Shopping Basket Management, Price Management and Collaborative Selling, Like Knowledge

Management, Request Management, Live customer support, Customer Self service, Installed

Base management, Complaints and Returns and Billing and Payment



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Retail CRM & Marketing

It is a process or methodology used to learn more about customers' needs and behaviors in order

to develop stronger relationships with them. There are many technological components to CRM,

but thinking about CRM in primarily technological terms is a mistake. The more useful way to

think about CRM is as a process that will help bring together lots of pieces of information about

customers, sales, marketing effectiveness, responsiveness and market trends. CRM helps

businesses use technology and human resources to gain insight into the behavior of customers

and the value of those customers.

Instant messaging, 24/7-customer service, shorter development cycles… today, businesses and

their customers move at a rapid clip. Buy decisions are made quickly and in fact entire

businesses can succeed or fail in a matter of weeks. That means that the no one has the luxury of

waiting months or even years to install a traditional, expensive, client/server CRM application.

The competitive advantage today is on-demand CRM.



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The Core area of CRM being:

CRM interface. This is the overall user interface, including home, pages, tabs, menus,

dashboards, etc., as well as all the factors that affect the usability of the system. This require to

be modified

Account management. The area of a CRM solution where all of the information about the

companies (and the contacts or people at those companies) that the user enterprise has

relationships with, is centrally maintained and managed. In addition, this area includes all

calendar and activity management functionality.

Campaign lead and opportunity management; these areas of a CRM solution are where all of

the selling opportunities are centrally maintained and managed.

Customer Service; this area of a CRM solution is where customer service questions,

requests, problems, and issues are input, tracked, and escalated (if need be), so that

customers are able to get what they need handled in the most efficient and effective manner.

Document Management; this functionality typically includes a document library where users

can store files that other people can access via the web.

Workflow Automation; this functionality can keep a business running smoothly by

automatically assigning tasks (or sending e-mail alerts) based on a business's pre-defined

processes. Workflow rules put workflow alerts and workflow tasks into action whenever the

designated criterion is met.

Desktop Tools; this functionality provides integration with desktop office tools like

Microsoft Excel, Word, and Outlook, as well as wireless support and off-line access.

Reporting, Analytics, and dashboard; this functionality monitors an enterprise's performance

utilizing a variety of pre-defined (yet customizable) reports covering each of the services'

main data areas. CRM solutions also allow users to use data filters, so they report on only

the information needed, and to subtotal or chart the data to help analyze trends and get a

concise picture of what's happening.

Administration and setup; this is the area of a CRM solution where an enterprise can import

or export data and manage user roles (for information access) and security.

Internationalization; internalization provides support for foreign language and real time

currency conversion.

Customization; this is the ability to customize the CRM solution to meet industry- and

company-specific requirements.

Integration; these are tools for integrating the CRM solution with other third party or legacy

systems.



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CRM Construct a business-to-business (B2B) or business-to-consumer (B2C) selling

scenario

Provide customers with personalized, interactive, and easy-to-use sales and self-service

facilities over the Internet

Reduce call center volumes and customer support

Reduce transaction costs of service by supporting self-service access for customers

Improve customer convenience and satisfaction

Perform Product Catalog Management, Content Management, Campaign Management and

Customer Segmentation.



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Retailers need an effective retail CRM and marketing solution to satisfy shoppers and compete in

today’s competitive retail market. Retail Anywhere CRM for retail delivers a complete 360°

view of every customer in every channel, providing the insight we need to deliver personalized

service, build customer loyalty and increase revenue.

Advantages of CRM:

Provide better customer service

Increase customer revenues

Discover new customers

Cross sell/Up Sell products more effectively

Help sales staff close deals faster

Make call centers more efficient

Simplify marketing and sales processes

The types of data the CRM Projects collect directly or indirectly from external vendors:

• Responses to campaigns

• Shipping and fulfillment dates

• Sales and purchase data

• Account information

• Web registration data



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• Service and support records

• Demographic data

• Web sales data

Customer Centric Retail: Mobile Creates a New Shopping Paradigm

Forrester Research calls this new paradigm shift ―agile commerce1;‖ Gartner calls it ―context

aware mobile commerce.‖ Both of these characterizations ignore the central part of the evolution

– the customer. As mobile devices continue to take their place as a central part of a consumer’s

everyday life, the question remains – is your organization positioned for customer centric retail?

Whether or not retailers are ready for customer centric retail, their customers are. As with many

innovations, it is often the customer that leads the market. Signs point to rapidly changing

consumer behavior. In fact, it could be argued that customer behavior relative to mobile devices,

online shopping and the in-store experience has already reached a tipping point.

Customers are increasingly using their mobile devices in-store, and soon it will become second

nature. In-store reviews, price checks against competitors, postings on social networks, and

customer self-checkout all will become a normal aspect of the retail experience.

If the average retail customer no longer thinks about interacting with a retail brand in terms of

discrete channels, then retailers must comply or risk losing customers to competitors that do.

Customer centric retail is the simple belief that the customer should be at the center of the

relationship with your organization. Through their mobile devices, customers will be able to

interact with your brand across any channel, at any time and anywhere.



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A few Statistics:

46% of consumers have used their phone to get product information while in a store.

(Source: Briabe Media, 2011)

70% of iPhone owners report using applications or their smartphone’s web browser to help them

while shopping in-store, and 41% are making purchases directly from their phones.

(Source: Chadwick Martin Bailey and iModerate Research Technologies, 2011)

73% of shoppers with smart phones prefer to reference their mobile device while in-store rather

than ask a sales associate for help.

(Source: Accenture, reported)

Gartner Identifies 10 Consumer Mobile Applications to Watch in 2012

Location-based services (LBSs): Location is one of the main enablers that deliver services to

users based on their context and, Gartner expects the total user base of consumer LBSs to reach

1.4 billion users by 2014.

Social networking: Mobile social networking is the fastest-growing consumer mobile app

category of the 19 tracked by Gartner. Social network platforms are sucking in increasing

amounts of network traffic. They are becoming portals, transit hubs and cloud storage for

increasing amounts of messaging and e-mail traffic, videos, photos, games and commerce..

Mobile search: Visual search is usually related with product search to enable price comparisons

or to check product information. To bring mobile search to the next level, the app would allow

users to take actions based on the result, such as making a call or reservation, buying a ticket,

placing an order, and so on.

Mobile commerce: Today, mobile commerce is more of an extension of e-commerce but in a

smaller form factor and with a more-streamlined experience. However, over the next 24 months,

Gartner expects the emergence of uniquely mobile functions, such as the ability to "check in" to

a store to alert a retailer that you are there, or the ability to add items to a shopping cart simply

by taking a photo of an item or bar code in the physical store.

Mobile payment: Although near field communication (NFC) payment will be included in high-

end phones from 2011, Gartner does not believe that it will become mainstream before 2015. In

order to get consumers on board, payment solution providers need to address ease-of-use for

users and ease-of-implementation for customers without compromising security.

Context-aware service: Context-aware applications provide improved user experiences by using

the information about a person's interests, intentions, history, environment, activities, schedule,

priorities, connections and preferences to anticipate their needs and proactively serve up the most

appropriate content, product or service.



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Object recognition (OR). High-end devices have an increased sensor and processing capability

that enable sophisticated applications to recognize the user's surroundings, including specific

objects of interest. Because OR provides an easy-to-use interface, more apps will come to the

market with enhanced capabilities by 2012.

Mobile instant messaging (MIM): Gartner expects MIM to attract consumers to new types of

unified communication (UC) client, provided by over the top (OTT) service providers such as

Skype. These service providers are threatening traditional communications service provider

voice revenue.

Mobile e-mail: Smart phones have begun to drive the mainstream adoption of mobile e-mail

through a series of technology enhancements enabling low-cost mobile extensions to existing e-

mail service. Gartner expects mobile e-mail users worldwide to increase from 354 million in

2009 to 713 million in 2014, to account for 10.6 percent of the global mobile user base. E-mail

addresses are personal and potentially extremely sticky, thus provide carriers, e-mail service

providers and OTT players with an opportunity to lock in consumers.

Mobile video: Mobile phones with larger screens and media tablets offer the ideal platform for

video consumption and with careful marketing and consumer education, Gartner believes that

carriers and content providers would be able to drive mobile video usage in the coming years.

Cross channel retailing maturity model - Stages and characteristics

Single Channel

Multi Channel

Cross Channel Integration

Seamless Customer Dialogue

Characteristics

Strategy and Strategy & Brand

Management

Customer

Approach/Customer

Experience Design

Organization / Operating

Model

Single Channel

• No channel strategy differentiation; primary

channel focus being brick

and mortar, internet and

direct mail focus on

brochure ware or advertising

• Brand programs are

focused on store

and traditional media

• Some thought given to

online execution,

but not actively pursued as

• Customer is managed primarily in the store;

online is used mostly as a

brochure

• Offer product research

online, store locators

information but no

capability to purchase

online

• Focus and Power is retail outlets

• Online is seen as a niche

which isn't very important

• No real focus on

emerging channels



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commercial opportunity

Multi Channel

• Channel strategies are

differentiated but not closely

integrated. New channels

viewed as incremental

opportunities but not strategic

• Brand is actively managed

in each channel for channel

specific needs; little focus on

how the channels are

integrated

.Maturity has been attained

in the store and online,

some experimentation

with other channels- but

not actively being pursued • No real focus on the

transition of

the customer journey

across channels

Ecommerce department

has growing importance;

still seen as a separate

entity from other

distribution/merchant channels

• No real focus on

development of emerging

channels

Cross - Channel

Integration

• Enterprise level strategic

planning is done to optimize each channel collaboratively

through operating models,

systems blueprints, and

roadmaps

• Brand is managed

holistically across all

channels

• Marketing messages are

tailored and relevant, focus is on creating a dialogue

with the customer

• Building process and

technology capabilities to

meet customer needs and

create a seamless

experience for the

customer regardless

of channel entry point

• Focus on customer

experience and managing the transition/lifetime of

a customer journey which

skips around through

various channels

• Organization model

reflects this strategy by

being organized around

customer, not channel or

product

Seamless Customer

Dialogue

• Customer centric retailing.

The 360° view and insight

on customers drive back-

and front-end across all processes

• There is a single strategy

for retail across established

and emerging channels

which is driven from the

C level; this strategy takes

into account emerging

technology trends and tools

• Brand is systematically

implemented across all

channels, regardless of

platform

• A relevant and

personalized customer

journey and cross channel

dialogue enhances the customer experience

• The customer experience

is completely integrated

across channels, pc, store,

OOH internet device and

all other emerging

technologies;

this process is seamless

and automated

• Organization is

completely designed

around the customer

wants and needs ; all campaigns are focused at

the micro segment or

single customer dialogue

level

• All programs are run

seamlessly across the

channels in an automated

process

• New channels can be

implemented

with only minor effort



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In cross channel shopping behavior the local trend mirrors the global situation

The Accenture’s research confirms the key role of cross channel behavior as a driver of

purchasing in a global context. Globally, as much as 87 percent of customers who inform

themselves about products and services online go on to buy in-store. Millions more still absorb

most of their product information in-store and then buy online. And still today, many stick to

catalogs as an information medium—and then buy in-store. Accenture’s most recent research

from 2010 tells us that their customer market mirrors this trend with 69%of the Customers report

engaging in some form of cross channel shopping. Furthermore the research shows that today the

majority is cross channel by consequently switching channels when moving from orientation to

purchase phase during their journey.

Their recent findings say found that 20% of the cross channel shoppers seamlessly switch

channels to their convenience during the purchase phase, e.g. switching channels for purchase,

taking from stock on hand/pick-up/home delivery, return or after-sale needs.

Anytime, Anywhere, Any Channel

Customer centric retail will immediately offer tangible benefits for improving the in-store

experience, which will alleviate many of the problems that have long plagued retail executives.

Innovative retailers are learning how to leverage mobile devices to help guide their customers

through the store, and are completing more sales as a result.

Best Practices for Building A Mobile Customer Centric Strategy

In order for technology to truly create a competitive advantage, the strategy must benefit both the

retailer and its customer. While customer centric retail continues to take shape, there are several

best practices that must be at the center of any rollout strategy. The following key points detail

the technical and business factors to be considered when planning to implement a mobile

strategy in-store.

5 keys to building a mobile customer centric strategy

Know Thy Customer: Customer Centric, Not Channel Centric - Customer centric retail

offers the opportunity to unify channels for one very simple reason: it puts the customer at the

center of the retail universe. Building strategies for disparate channels only compounds the

customer service issues consumers currently experience. A customer centric retail strategy helps

integrate customer data, thus reducing the barriers between channels.



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Set Realistic Goals - When building a customer centric mobile strategy, start with objectives

that contribute to long-term mobile application adoption, both in-store and outside of stores.

Simultaneously Consider Technology and Business Processes- In order to execute a

successful customer centric retail strategy using mobile devices, business process and technology

must be in lockstep. It is critical that retailers create processes that complement and support the

functionality delivered through mobile applications.

Implement the Customer Centric Mobile Strategy in Phases - Phasing a mobile initiative will

help retailers focus on what is important. Retailers should create phases that adhere to customer

needs, revenue opportunities, and differentiation.

First phase: Inspire customer adoption with features that create convenience.

Second phase: Drive revenue through couponing, suggest sells, and promotions.

Third phase: Differentiate the brand with cutting-edge functionality.

Fourth phase: Optimize the experience based on testing and measurement

Test & Measure - Set up analytics to determine whether key performance indicators are

achieved. Since mobile customer centric retail is new, some areas of measurement to consider

include:

Revenue transacted through mobile devices

Mobile smart phone application traffic

Average cart/order value

Number of mobile app downloads

Product scans/searches via mobile devices

Repeat visits/log-ins

Mobile app satisfaction

Opt-in rates for SMS, daily deals, coupons

In the past decade, most retail executives were consumed with the task of developing and

maintaining an online presence. In this decade, the focus will shift to the unification of channels

centered on the consumer. Merchandise Management

With a merchandise management solution from Retail Anywhere, we can efficiently analyze,

order, price, and distribute merchandise across your retail channels. Having the right inventory at

the right place at the right time while optimizing for promotion and pricing of products

maximizes sales and reduces the need for future markdowns.



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Marketing Analytics, Sales analytics, Service analytics

With a comprehensive BI evaluation and navigation options, we can measure the influence of

our customer relations on the success of your business, as well as the efficiency of individual

actions.

Cross-Channel Consumers

Recently, Econsultancy released the results of a survey that revealed that 48% of U.S. and UK

consumers consider the opportunity to shop across channels to be ―useful.‖ Now, a study by

Oracle has even more insight on consumers’ views on cross-channel commerce. The Oracle

study surveyed over 2000 consumers in the U.S. and Canada; 54% responded that they regularly

shop using two or more channels before making a purchase. It’s also important to note that these

consumers expect a consistent experience across all channels. There is still some hesitancy

among consumers regarding mobile commerce, though it is a growing channel. While a quarter

of consumers are concerned about the security of making mobile purchases, 45% of consumers

age 18-34 make purchases on a mobile device as often as a few times a week. Again, the key

takeaway here is consistency in meeting customers’ expectations. They expect products to be

made available through any channel, and they expect purchases to be secure and effective —

anytime, anywhere.

According to a recent IDC Study digital information is doubling every two years — that includes

customer information, such as buying behavior. With so much data available, the goal is to

harness and use it.

Historically, price and convenience have been the most important drivers for online shopping.

The future will be no different, however, as prices becoming increasingly transparent, market

efficiencies will make process converge and become less differentiating. The real high

performing retailers will combine the basics, but will recognize their customers in an

increasingly personalized way, in order to deliver their customers the ultimate customer

experience and drive loyalty. New channels will emerge as interactive technologies continue to

evolve in areas such as mobile phones, TVs, walls and cars. High performing retailers will

integrate those channels to deliver a relevant dialogue with their customers throughout their

journey. The retail brand becomes always-on – anywhere and anytime



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Conclusion

A well-designed e-commerce system can serve as the basis for a true cross-channel commerce

solution. This system must already interface with product, inventory, order management, and

financial information; customer relationship; and transactional systems. And it must typically

adapt to different information availability and rules about which system is authoritative on which

data. The system aggregates information in a meaningful way for a high volume of visitor traffic,

and it can personalize the view to serve different audience needs. It is the most compelling place

to aggregate customer-facing information. No longer just a Web solution, e-commerce is

assuming its rightful position as the foundation for all customer-facing commerce applications

across all touch points.

References:

For the purpose of this study the following references were used:

1) http://compareecommerce.net/vendor-review/retail-anywhere-review/

2) http://www.retail-management.net/ibm-recognizes-retail-anywhere-with-market-growth-

achievement-award

3) IBM CRM Overview Presentation

4) http://www.aislebuyer.com/

5) Accenture Research Multi Channel Retail in the Netherland, 2010

6) http://www.gartner.com/it/

7) http://www.oracle.com/us/products/applications

* About Author:

M.Sc. (Statistics), SDS, PGDOR, PGDCMS

At present HOD Management (IT & Projects - Brainware Group), and visiting faculty - Globsyn

NC, Army Institute of Mgmt, ICFAI Business School, IISWBM etc. MTPL- Core Member,

Delivery Head- Soft Wizards, and provides Software Consultancy services in the areas of

Business Intelligence, Analytics & other areas also.

Documents

Retail Anywhere - hgsitebuilder.com · Retail Anywhere understands these needs and delivers a cloud-based retail management system that brings together POS, eCommerce, CRM and marketing,