Wednesday Mar 05, 2014

Mobile Web for the Masses

There’s no arguing that mobile is a big deal. We’ve all heard the stats about crazy mobile adoption over the last 4-5 years, particularly in retail. But one thing still isn’t totally clear: whether mobile Websites or native mobile apps are the way to go for retailers.

comScore cites
that consumers spend 55% of their time with retailers on mobile devices, outpacing computers  – and this isn’t general online surfing (which is far higher), it’s shopping. Some, including myself, argue that mobile is the lynchpin of a retailer’s omnichannel strategy. Smartphones perfectly link the in-store experience with the digital world – or at least, they should.

[Read More]

Wednesday Oct 16, 2013

The Evolution of an Era: Customer Experience in Retail

Two New Studies Point to the Direction Retailers are Taking in their CX Initiatives. Is it the Right Direction?

The sheer velocity of change in retailing and customer behavior is forcing retailers to reinvigorate, expand and sharpen their vital Customer Experience (CX) strategies. Customers are becoming increasingly dynamic as they race to embrace the newest digital channels; shop in new ways on mobile devices, including smartphones and tablets, on the Web and in the store; share experiences socially; and interact with their preferred brands in new ways. Retailers are stepping up to their customers as they and their competitors create new modes of customer interaction. Underpinning these changes are vast quantities of customer data as customers flood digital channels and the social sphere.

The informed retailer must now understand what their priorities are and what they should be for the future. To better understand this, Tata Consultancy Services (TCS) and Oracle independently launched CX-focused surveys to uncover what retailing leadership found important today. By comparing the results of these two studies together, we can further discover new insights about the industry. Click here to download this informative white paper.

Wednesday Aug 28, 2013

Mobile Is Becoming A Catalyst For Commerce

Mobile phones have become almost ubiquitous in our daily lives. More and more people are relying on their smartphones to stay connected with their family, friends, co-workers, and the world around them. Armed with smartphones and tablets, consumers have access to much more product information and can compare, recommend, and share information from anywhere, at any time.

According to Internet Retailer, in the second quarter of 2013 U.S. mobile commerce grew faster than U.S. e-commerce sales via desktop/laptop computers. M-commerce represented 9% of all online commerce in the quarter, comScore says, with mobile shoppers buying more than $700 million worth of apparel and accessories in Q2.

A new report from Juniper Research expects mobile commerce transactions conducted through handsets and tablets will exceed US$3.2trn by 2017, rising from US$1.5trn this year. Research firm eMarketer reports that this year, 62.5 percent of all mobile commerce will come from tablets, despite the fact that they have a lower penetration rate than smartphones. However, lack of mobile site optimization remains a concern. Overseas in Europe, according to the latest statistics that have been released on the IMRG Capgemini e-Retail Sales Index, last month, the sales over mobile commerce in the United Kingdom managed to grow by a phenomenal 129 percent when compared to the figures from the same time in 2012.

Smartphones enable customers anywhere to quickly research and evaluate products prior to purchase. 4G connectivity enables consumers to have faster access to mobile Web sites and apps. Tablets provide more real estate for customers and business buyers to view product information in order to make their buying selection. In June 2013, 91% of tablet users and 90% of smartphones users accessed a mobile e-commerce Web properties, according to comScore.

So companies need technology tools to help them understand the mobile universe and its impact on their businesses. Mobile commerce started in the retail industry and is permeating into other industries as consumer get more comfortable purchasing via their smartphone and consumers migrate from pure research to buying products and services on their phones.

An Oracle study found that only 37% of respondents indicating that their company has mobile commerce in place. You need to continually think about how your customers are engaging with you and your brand via smartphones and tablets, and build mobile into your company’s overall commerce strategy. Click here to learn more about Oracle Commerce.

Friday Aug 09, 2013

Offer Your Customers Exactly What They Are Looking For

Product and customer data is changing at an unprecedented rate. And it’s not only what you collect but also what you input from third-parties, like your vendors and partners. Research shows that master data change at a rate of 2% per month and in 4 out of 5 instances the supplier data is often more accurate than the retailer’s own data. 

So how do you handle multiple versions of the truth, house your product and customer data centrally, and ensure that it’s the most accurate? Poor data quality can undermine your Web site usability and drive a poor customer experience. Companies need to support every stage of the customer buying cycle to ensure that the most accurate product, location, and availability data is available.

Great commerce experiences begin with the quality of the data. Accurate customer and product data is one of your most important assets – and you need both in order to provide your customers with the most personalized buying experience. You need to consolidate multi-structured data and sources into one repository, cleanse data by standardizing, error-correcting, and de-duping, govern data by definition, regulation, auditing, and access, and share master data for better insight to increase sales and trust.

To provide the most accurate search results you also need to standardize product attributes as much of your data may come from internal sources as well as third-party partners. This is critical when it comes to providing the best Web site search results. You don’t want your customers searching for “10 horse power” and “10hp” to have to sort throw two different search results.

By following these key commerce data principles you can provide your customers exactly what they are looking for on your Web site. Click here to learn more about Oracle Commerce and here to learn more about Oracle Master Data Management.

Thursday Dec 13, 2012

Oracle Customer Experience (CX) Solutions Make Retailers Merry

Tis the season to be jolly. If you’re a retailer, your level of jolliness depends on sales. So you watch trends like U.S. store traffic increasing 3.5% to 308 million on Black Friday but sales actually falling 1.8% to $11.2 billion.

Fortunately, by the end of November, retail sales were up 3.7% over the previous year, thanks to life recovering after Hurricane Sandy. And online sales topped $1 billion for the first time ever!

Who are the companies improving their sales online? They are big names like Walgreen’s Drugstore.com, Nordstrom’s HauteLook, and Intuit. More importantly, how are they doing it? They use cutting-edge business practices enabled by Oracle’s CX Cloud Service & Support solutions to:

  1. Increase conversions rates and order sizes (Customer Acquisition)
  2. Enhance customer satisfaction and loyalty (Customer Retention)
  3. Reduce contact center costs and improve agent productivity (Operational Efficiency).

Acquisition + Retention + Operational Efficiency = Sustainable Growth and Profits. That’s the magic formula for retail customer service success. Don’t take our word for it. Look at the results of these Oracle customers:

  • Walgreen’s Drugstore—30% sales conversion rate on chat sessions with 20% increase in shopping cart size
  • Nordstrom’s HauteLook—40,000+ interactions per month—20% growth over last year— efficiently managed by 40 agents, with no increase in IT costs
  • Intuit—50% increase in customer satisfaction and 70% decrease in cost per interaction

Using Oracle’s CX Cloud & Service solutions, these retailers deliver consistent, relevant, and personalized experiences across all touchpoints, including social, mobile, and web. Their ability to connect with customers anytime, anywhere—providing the right answer at the right time—helps them create a defensible advantage in the marketplace.

Want to learn more? Please visit http://www.oracle.com/goto/cloudlaunchpad for free resources on delivering exceptional customer service in the Cloud. Also, watch our YouTube channel to learn more about seamless multichannel retail and Winston Furnishings’ exceptional customer experience.

Tuesday Mar 20, 2012

Stores Still Matter In The World Of E-Commerce

You may think that more and more consumers are moving their purchasing to the Web or mobile device.  However, according The NPD Group, Inc., a leading market research company, 15-20 percent of consumers in 2011 checked out products in stores before buying online, or called “showrooming”, for product categories like stand mixers, electric knives, sewing machines, and some floor cleaners. Other categories like power tools, hairsetters, and robotic vacuums are now beginning to show signs of the “showrooming” trend as well.

It is doubly important to present a consistent, personalized, and relevant shopping experience for your customers, no matter whether they interact with you in-person in your store, with your sales agents or call center agents, over the Web, or using a mobile device.  Your goal is to make that experience across touchpoints as seamless as possible.

Wednesday Feb 22, 2012

2012 B2C E-Commerce Trends: What’s Working, What Needs Improvement, And Where Your Peers Are Investing In 2012

In late 2011, Endeca, now part of Oracle, surveyed e-Commerce professionals from leading retail, travel, and consumer manufacturing organizations to gain insights and understand what ideas and trends are key areas of focus for 2012.


At a high level, the survey shows that online retailers are overcoming the economic challenges faced in 2011 by focusing on their customers, building Web sites around them, investing heavily in the customer experience, and promising new areas for engaging shoppers and growing the company’s base. Initiatives such as mobile that were a blip on the radar in previous years have taken center stage and are now commanding budget dollars. This compounds a key frustration online retailers face: the integration of multiple technologies, few of which were built for today’s evolved use cases. Online organizations are stretched thin to balance back-end challenges while sprinting to deliver engaging, consistent user experiences that capture more mind share and wallet share—the key investment area for 2012.

Click here to download the complete research findings and see how your peers are prioritizing their 2012 investments.


Visit Oracle.com/webcommerce to learn more about Endeca and Oracle’s Web commerce solutions.

Tuesday Apr 19, 2011

Business Intelligence: Model Once, Deploy Everywhere

Our colleague, David Dorf, wrote an interesting post at the Insight-Driven Retailing Blog. You might find these insights useful in your industry, especially if you need insight across CRM and other information repositories.


Business Intelligence has really grown up over the last decade. It has expanded beyond simple reporting to include advanced analytics, alerting, forecasting, collaboration, and even knowledge management. For retailers, many of these functions exist within the enterprise, but they are typically not connected and rarely use common semantics.

CSA BI.PNGWorking with Chain Store Age, we did a survey to find out where retailers need the most help. The results show that consolidation, consistency, and simplification are the main priorities. Most retailers know they own the data to make the right decisions, but they are frustrated at not being able to easily access that information.

The best approach we've found is to model the data once, in a common information model that is comprehensive to the business. Then there are opportunities to deploy the model in different ways to support different functions. But if you don't have that common information model to begin with, you risk complications.

Oracle provides a common information model across disciplines such as finance, labor, and supply chain for its BI Apps. To that we're adding industry domains like merchandising and banking so its possible to combine ERP and industry data yielding a complete view of the business.

Below are links to more information and an upcoming webinar on the topic.

Survey Findings

Webinar: Simplifying Retail BI: How to model once, deploy everywhere, and separate the necessary from the nonsense (Tuesday, April 26, 2011; 2 p.m. ET/ 11 a.m. PT)

Chain Store Age Interview at NRF





About

The place to get informed about customer experience and how it impacts your success.

Stay Connected


Subscribe
Subscribe to our RSS feed.

Search

Archives
« April 2014
SunMonTueWedThuFriSat
  
1
4
5
6
9
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
   
       
Today