Many retailers are tuning their budgets for 2014 and a lot of focus is on trialling and installing new technology in stores. But are they missing something?
The overriding priority for almost all retailers in 2014 is to get more shoppers into their stores. Once inside the store retailers want as few shoppers as possible to leave without buying anything and the average number of products purchased to increase.
Technology is very exciting but in terms of priorities it’s vital to remember what customers actually see before selecting a product to purchase. It’s the paper price tickets and promotional materials at the shelf edge that give shoppers reasons to buy. If they can’t see the price, product information and specifications they simply will not buy, no matter what other great technology is around them. Getting this basic customer need right has to be very high on the priority list and for some retailers needs to be ahead of most technologies.
Are you working on requirements for 2014/15 budgets?