Ryan Goh, Vice President of Sales at Zebra Technologies Asia Pacific, shares why retailers’ IT strategy is core to helping Cupid put a smile on consumers’ faces this Valentine’s
With the Lunar New Year coming to a close and Valentines’ Day around the corner, people are starting to think about one of the most important presents they need to get or want to receive. The pressure for people to deliver the perfect gift and experience is higher than usual this year as Valentines’ Day falls on the last day of the Lunar New Year. Retailers are now prepping up for the busiest time of the year, ensuring that customers are getting exactly what they want in the right colour, size and price, within the time frame that you need.
In preparation for the frantic pre-Valentines’ Day buying, retailers have a lot on their minds. They need to decide on the lines they are going to promote, pricing structure across multi channels, online and foot traffic, stock-pile balance versus stock availability, consumer strategy, as well as delivery and returns policy. It is important they get this formula right to avoid customer disappointment which can impact their brand promise.
In addition, with more and more are now shopping online, retailers now need to ensure that their festive promotions need to be mirrored across the entire brick-and-mortar estate at the same time in order to meet consumer demand of price parity across all channels.
Success for retailers during such festive buying seasons is all about timing. Getting these promotions starting together is a challenge, but as inventory dries up, this triggers the ending of the promotion and the opportunity to begin the next promotion. Breaking well-communicated customer promises of having a consistent stocks and pricing across all channels will negatively impact customer loyalty particularly at occasions, like Valentines’ Day, that are of high importance to consumers.
This Valentines’, it is not too late for retailers to take a step back and review how they can make the best out of technology to deliver a best-in-class multi-channel retail experience that will allow customers to buy how, when and where they want.
Radio frequency identification (RFID) technology, for example, enables business intelligence throughout a retailer’s value chain to provide critical information for fast and accurate decision-making. RFID continues to grow as a proven solution for retailers to increase inventory visibility and accuracy, which helps reduce out-of-stocks, increase sales, and lower cycle counting labour. Item-level RFID tagging in particular is making fast, easy product location and checkout possible.
Increasing globalisation, more informed consumers and rising competition are placing pressure on retailers to integrate such technologies to ensure that they are able to meet customer expectations of not just efficient but also tailored delivery of products and services in the shortest time possible.
Equipped with the right business intelligence and Auto ID mobile technology, retailers will be able to reap instant rewards as well as save time and money which ultimately helps them provide a better service to their customers. After all, isn’t it every retailer’s desire to put that smile on their customers face this festive season?
To learn more about how leading retailers are leveraging technology to succeed with customer satisfaction and sales, visit Zebra.com or drop us a message at firstname.lastname@example.org
This is a guest post by Zebra Technologies Asia Pacific, the Registration Sponsor at Cards & Payments Asia 2014 expo.