Retail Archives - Compucom https://www.compucom.com/tag/retail/ Technology Driven. People Powered. Thu, 08 Aug 2024 20:15:44 +0000 en-US hourly 1 https://www.compucom.com/wp-content/uploads/2024/03/cropped-compucom-ico-32x32.png Retail Archives - Compucom https://www.compucom.com/tag/retail/ 32 32 Adapting to 2024 Consumer Trends with Innovative Retail Technology https://www.compucom.com/adapting-to-2024-consumer-trends-with-innovative-retail-technology/ Thu, 08 Aug 2024 20:15:43 +0000 https://www.compucom.com/?p=7252 Compucom-blog-Adapting-to-2024-Consumer-Trends-with-Innovative-Retail-TechnologyIn an era where consumer behaviors are increasingly complex and paradoxical, staying attuned to trends can be challenging. However, doing so pays off, as using the latest trends and technological advancements to inform your strategic planning gives you an edge. Advanced IT solutions can help retailers understand and adapt to changing consumer behaviors and build a competitive advantage.

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<Emma Mak, Staff Writer

Emma Mak • Staff Writer

In a rapidly evolving global market, consumer trends are becoming increasingly complex and multifaceted. Retail IT leaders face the pressing challenge of staying ahead of these trends to maintain a competitive edge.

This article explores how technology can help retail businesses understand and respond to shifting consumer behaviors, drawing on insights from McKinsey’s comprehensive analysis of trends.

Understanding the Current State of the Consumer

According to McKinsey’s State of the Consumer 2024 report, a survey of over 15,000 consumers in 18 markets comprising 90% of global GDP,  “consumers have continued to defy expectations and behave in atypical ways, keeping consumer goods manufacturers and retailers on their toes.” The report identifies several trends within the global consumer landscape:

  • Middle-Income Consumers: Despite concerns about inflation, middle-income consumers in Europe and the United States continue to splurge on discretionary items.
  • Aging Consumers: Older generations are willing to spend on experiential categories, like travel and home improvement.
  • Declining Brand Loyalty: Consumers worldwide are increasingly open to exploring new brands and products, driven by economic uncertainty and inflation.
  • Sustainability Trade-Offs: While young consumers still value sustainability, they are less willing to pay a premium for sustainable products in the face of economic challenges.
  • Wellness Boom: There is a growing interest in health and wellness products, particularly in emerging markets. There is growing investment in women’s wellness, especially in younger generations such as Gen Z.
  • Secondary Cities: In both advanced and emerging markets, consumers are moving away from the big cities to seek a better quality of life.
  • Social Commerce: Social media and content creation platforms are becoming vital channels for consumer interactions and purchases.

Leveraging Technology to Adapt to Consumer Trends

To keep pace with and understand these evolving consumer behaviors, retail IT leaders should harness the power of advanced technology. Here are key ways technology can help:

1. Advanced Data Analytics

Understanding consumer behavior helps retail businesses make informed decisions. Advanced data analytics can help retailers collect and analyze large volumes of data to discover valuable insights. For instance:

  • Customer Segmentation: Use data to identify and understand different customer segments, enabling targeted marketing and personalized experiences for high-potential groups.
  • Predictive Analytics: Forecast future trends and consumer demands, enabling better inventory management and supply chain optimization.
2. Artificial Intelligence (AI) and Machine Learning

AI and machine learning technologies offer powerful tools for enhancing various aspects of retail operations:

  • Personalization: AI can analyze consumer data to deliver personalized recommendations and offers, improving customer satisfaction and loyalty.
  • Chatbots and Virtual Assistants: These tools can handle customer inquiries, provide product recommendations, and assist with transactions, enhancing the customer experience.
  • Demand Forecasting: AI algorithms can predict demand patterns, helping retailers optimize inventory levels.
3. Omnichannel Integration

Consumers expect seamless experiences across multiple channels. Retailers must integrate their online and offline operations to provide a unified shopping experience:

  • Unified Commerce Platforms: Implement platforms that connect inventory, orders, and customer data across all channels.
  • Click-and-Collect Services: Allow customers to order online and pick up their purchases in-store, combining the convenience of e-commerce with the immediacy of physical retail.
4. Enhanced Customer Engagement

Building strong customer relationships is key to retaining loyalty in an era of declining brand allegiance. Technology can help:

  • Loyalty Programs: Implement digital loyalty programs that reward repeat customers and encourage brand engagement.
  • Social Media Integration: Leverage social media platforms to engage consumers, run targeted campaigns, and collect feedback.
5. Sustainable Practices

Sustainability remains a priority for many consumers. Retailers can use technology to enhance their sustainability efforts:

  • Energy Management: Implement IoT devices to monitor and reduce energy consumption in stores and warehouses.
  • Supply Chain Transparency: Use blockchain technology to trace the origin of products and ensure ethical sourcing.

Partner with Compucom as Part of Your Retail Strategy

In an era where consumer behaviors are increasingly complex and paradoxical, staying attuned to trends can be challenging. However, doing so pays off, as using the latest trends and technological advancements to inform your strategic planning gives you an edge.

Advanced IT solutions can help retailers understand and adapt to changing consumer behaviors and build a competitive advantage. Look for technology solutions that will help you deliver personalized, seamless, and sustainable shopping experiences that resonate with today’s discerning consumers.

Ready to take your retail strategy to the next level? Compucom ensures your IT operations and infrastructure are ready for the latest retail technological advancements. Talk with our experts today.

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NRF 2024: The Future Looks Bright and 3 Other Takeaways from Retail’s Biggest Show https://www.compucom.com/nrf-2024-the-future-looks-bright/ Tue, 23 Jan 2024 08:13:00 +0000 https://www.compucom.com/?p=5093 Hand on touch screen with word retailThe days were brisk for NRF 2024, the National Retail Federation's annual convention. However, the 40,000 attendees in New York City were warmed by sunny news: the holiday season was a success, with reported sales growth of 3 to 4%, and the outlook for 2024 is positive.

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Troy Baldwin, Director, Offering Management

Troy Baldwin • Director, Offering Management

During the three-day show, our Compucom events team met with our customers, partners, and other retailers, took in the Big Ideas sessions, and interacted with some of the latest retail innovations, such as the bitHuman digital helpers, an interactive AI platform tasked with answering questions for attendees about navigating the event.

Here are our three main takeaways from NRF 2024.  

Constant Innovation for the Win

While retailers often realize that investment in innovation must be ongoing, knowing where to place your bets can be hard.

In our one-day spot survey asking attendees their primary concern for the technology aspect of their business, the largest number (40%) selected “Navigating technological trends to get digital transformation right”.

This is where having an experienced retail technology partner can help. Combining their expertise with your knowledge of your customers provides the best guidance for where to put your innovation efforts — because it’s not always the commonly advised path forward that will work best for your company.

Customers’ Expectations Have Risen Sky-High

A common theme was talk of the high expectations of consumers and the need for retailers to be highly customer-centric. This was reflected in our poll, with 22% selecting “elevating the customer experience by sourcing, optimizing, and supporting technology that helps you focus on the customer” as their main concern.

Innovations from a few of our longstanding OEM partners focused on this need:

  • Microsoft had a prominent booth showcasing the value of AI for unlocking, among other things, new shopping experiences and store associates’ potential by using generative and conversational AI to build meaningful in-store and online experiences (phygital experiences).
  • Intel showcased RealSense, a technology that gives devices depth perception capabilities and is transforming retail applications by creating better customer experiences. 
  • Lenovo showed off their AI-powered end-to-end retail solutions designed to enhance safety, security, and intelligence for retailers and shoppers across various categories, including Smart Promotion, Smart Shelf, and Smart Checkout.

“AI” was the Buzzword on Everyone’s Lips

AI has been a buzzword in many industries for a while now. At NRF 2024, it was clear that AI is not just a trend but a game-changing tool for retailers. Most exhibitors focused on its ability to analyze customer behavior, predict trends, manage inventory, and provide personalized experiences, but as we discussed with attendees, AI can also help retailers:

  • Solve networking challenges and operational inefficiencies through AIOps (Artificial Intelligence for IT Operations).
  • Improve the digital employee experience for their sales associates by providing insights on how your IT team can improve users’ interactions with digital touchpoints.

Implementing AI is not a simple task. MSPs can provide the necessary expertise and resources to implement AI solutions, allowing retailers to reap the benefits without having to build their own teams.

Another Great NRF Show Under Our Belt

Compucom’s team enjoyed seeing the excitement around retail innovation at this year’s big show. We know helping our customers innovate with the right technology is crucial for driving their success. Contact us today to learn how to advance your retail workplace with the right managed service provider.

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Retail Trends 2024: Delivering for The Zero Consumer https://www.compucom.com/delivering-for-the-zero-consumer/ Fri, 12 Jan 2024 19:47:00 +0000 https://www.compucom.com/?p=5095 Two women looking at a laptop screen in a pottery storeAre you a “zero consumer”? A rising global phenomenon, these consumers have zero boundaries (drifting between online and in-store), zero loyalty, zero moderation (either scrimping or splurging), and zero patience (they want it now).

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Emma Mak, Staff Writer

Emma Mak • Staff Writer

The rise of the “zero consumer” 

With this typical profile of who retailers are selling to, let’s dive into some trends that might help win over the zero consumer in 2024. 

Contactless Checkout  

Who relishes the thought of long line-ups that place you within easy sneezing distance of other mall customers? One good outcome of 2020 is raised awareness of the importance of hygiene, which accelerated contactless checkout trends. Customers like the option of paying for their purchases with phones or credit cards without touching a keypad or interacting with a cashier. This makes the shopping experience safer and speeds up the checkout process — a welcome efficiency improvement, especially with the current shortage of retail workers.

Sustainability Influence 

Leveraging AI for Personalization and Customer Experience 

Retailers can combat this by creating a stronger emotional connection via personalization. Using AI-powered recommendations to harness the power of customer data, such as past purchasing behavior and preferences, retailers can help customers find products relevant and interesting to them. Consumers love the value this creates. Tailoring marketing and sales strategies to the right audience increases customer retention which is smart business.

Navigate the Trends with a Managed Services Provider (MSP) 

Keeping your business agile and knowing your customer will always make for solid strategy. With all the innovation competing for attention, it’s also crucial to not fall for hype and take a pragmatic approach to evaluating whether emerging technologies will help you reach your goals. Besides infrastructure support and services to keep your sales and back-office working, having an MSP as your strategic partner helps you make the right moves to transform your business and optimize the customer experience for today’s zero consumer. 

In this series:

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Retail Trends 2024: Let’s Get Phygital https://www.compucom.com/retail-trends-2024-lets-get-phygital/ Fri, 12 Jan 2024 18:47:00 +0000 https://www.compucom.com/?p=5096 People walking in a busy mallSurprisingly, Olivia Newton-John’s lyric, “Let’s get physical,” was not actually about working out, but her aerobics-themed video helped make the catchy but cheeky song a runaway hit in the exercise-crazed 80s.

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Emma Mak, Staff Writer

Emma Mak • Staff Writer

Showrooming and Webrooming 

The opposite side of the coin, webrooming, is popular among Gen Z customers, who prefer to research products online before buying them in a physical store. Its perks include getting items immediately, more straightforward returns, no shipping costs, and supporting local businesses.  

Having both options available to consumers can work in a retailer’s favor: online shopping has lower overhead, but online advertising is expensive; in-person shopping provides a chance to increase brand loyalty through personal interaction and the creation of a real “brand experience” that is harder for retailers with only an online presence.

Great Customer Experience (CX) For the Win 

Examples of raising the bar on CX include:

Instant, useful content accessible right where a potential customer stands, product in hand, deciding whether to place it in their cart or back on the shelf, can dramatically increase value for the customer and influence their decision to buy.  

How a Managed Services Provider (MSP) Can Help 

In this series:

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NRF 2023: 4 Takeaways from Retail’s Biggest Show https://www.compucom.com/nrf-2023-4-takeaways-from-retails-biggest-show/ Tue, 31 Jan 2023 09:25:00 +0000 https://recomp.5oclock.io/?p=3393 Compucom Blog - NRF 2023 4 Takeaways from Retail's Biggest ShowThe National Retail Federation's annual convention drew its largest crowd in recent years, with thousands of retail executives flocking to New York in search of the tech investments needed to drive sustainable growth in this precarious economic time.   

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Compucom Editorial Team

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Retailers’ Top Need: Help Supporting Technology

What’s the biggest challenge ahead? Our on-site pulse survey asked nearly 400 attendees about their top concerns for the year, and the results were clear – most retailers need help designing and managing IT to support multiple locations and end-user needs.

  • 30% said their biggest challenge is supporting on-site and employee technology
  • 29% said they’re concerned with planning for current and future technology needs
  • 16% said their top priority is driving store traffic and enabling purchase decisions
Compucom Blog- NRF 2023 Poll
Tina Pickeral, Compucom VP of Sales

Improved Customer Experience by Focusing on Employees

These proved to solidify what Compucom has known and focused on for years. The technology experience (whether good or bad) has a direct and causal effect on both employee and customer experience; they go hand in hand.

Experience Matters Across Every Channel

Retailers will continue to direct their energy on perfecting the omnichannel customer experience this year, aiming to connect with customers in every way possible. Our booth survey proved this, with a quarter of respondents (25%) naming this their top challenge for 2023.

Steve Pike, a Compucom Solution Director, has witnessed this firsthand in retail. When asked about the power of the omnichannel experience in retail, he said, “The winners in this space will be the ones to deliver a consistent and positive digital experience, connecting technology, support, process, and individual experiences across in-store, online, and mobile shopping,”

Retail Technology Just Keeps Getting Better

Some updates from a few of our own longstanding OEM partners included:

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The 3 Biggest Retail Modernization Myths, Debunked and Explained https://www.compucom.com/the-3-biggest-retail-modernization-myths-debunked-and-explained/ Fri, 16 Dec 2022 08:17:00 +0000 https://recomp.5oclock.io/?p=4095 The 3 Biggest Retail Modernization Myths, Debunked and ExplainedThe retail revolution was well underway before the pandemic threw us all a curve ball. Technology changed the way consumers interact with brands and has empowered them in ways we could have only imagined just a few short years ago.

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The retail revolution was well underway before the pandemic threw us all a curve ball. Technology changed the way consumers interact with brands and has empowered them in ways we could have only imagined just a few short years ago.

Retailers can set themselves up to survive in a rapidly changing post-pandemic environment by focusing on IT modernization and automated technology.

But for many retailers, that’s intimidating. The hesitation is holding them back from transforming the customer experience to grow revenue, reduce costs, and keep customers loyal.

To help overcome those fears, let’s debunk the most common myths we hear from retailers.

Myth 1 – Retail IT Modernization Isn’t Necessary

The truth is that changing trends and rising customer expectations make modernization a necessity. Avoiding these investments in the name of short-term cost savings will ultimately cause long-term damage as modernized competitors gain the advantage and customers shift their purchases away from your brand.

Myth 2 – IT Modernization is Expensive and Overwhelming

Modernization, digital transformation, store of the future… whatever you call it, it might sound like improving your customer’s experience will be daunting and expensive.

But remember: you don’t need to update everything all at once! Instead, start in one area and improve incrementally over time.

By having a clear understanding of your business, objectives, and where you want your company to be in the next five years, you can identify the areas that will have the most significant impact on your success. These “low-hanging fruits” can be implemented quickly and provide the ROI needed to start investing in other areas, allowing you to improve your experience within your budget.

Myth 3 – Retail Modernization Requires a Multi-Vendor Technology Solution

From in-store kiosks and digital menu boards to POS systems and mobile devices, stores are increasingly becoming technology hubs with hardware and software from multiple OEMs.

In the past, this meant dealing with as many as a dozen different vendors, each with their contract, service level agreements, and maintenance schedules. Worse, all these technologies might not even work together, limiting the benefits of having them in the first place.


Investing in What’s Next for Retail

True retail modernization requires more than just an investment in new technology. It requires strategic thinking across the entire organization – from store layouts and backend systems to the organizational structure and front-line staff.

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Click & Collect is Here to Stay: Retailers Embrace Automated Tech https://www.compucom.com/click-and-collect-retail-tech-is-here-to-stay/ Wed, 14 Dec 2022 08:31:00 +0000 https://recomp.5oclock.io/?p=3396 Compucom Blog - Click & Collect is Here to StayAutomation is changing the in-store experience for the better, and some tech firms predict it will be an $8.4 billion industry by 2030.

Today's consumers expect more from retailers. A lot more.

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Automation is changing the in-store experience for the better, and some tech firms predict it will be an $8.4 billion industry by 2030.

Today’s consumers expect more from retailers. A lot more. They want frictionless checkout (in a variety of ways), the best prices, a smooth in-store experience, and real-time visibility into everything from inventory and shipment tracking.

Beyond enabling rapid fulfillment/restocking or automated inventory management, these technologies also provide additional data points for precise demand and procurement planning.”

Adhish Luitel

“Click and Collect” Tech

Of all the latest advances, “click and collect” or “buy online, pick up in store” (known as BOPIS) technologies are the favorite with consumers.

Customers love it because it gives the best of both worlds: convenient online shopping and a local store experience. BOPIS raises the tantalizing possibility of placing a mobile order from the couch and making a short drive to pick up the desired item now.

BOPIS is a relatively “low-hanging fruit” for businesses to deploy, with plenty of benefits. As IBM explains, BOPIS tech offers quicker order fulfillment, eliminates shipping costs and helps reduce excess inventory.

However, they advise, businesses will need a plan to synch their modern order management technology and e-commerce systems with an inventory visibility solution to streamline the order management process.


Accelerate Retail Transformation with the Right Tech Partner

How you implement new technology into your retail space makes all the difference. Choosing a partner with the right experience and know-how is important, especially if you haven’t yet invested in automation.

Many of the Fortune 500’s top retail businesses trust us to manage — and automate — their workplace tech solutions, from the sales floor to the head office​.

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How Rugged Devices are Transforming Frontline Industries https://www.compucom.com/how-rugged-devices-are-transforming-frontline-industries/ Tue, 01 Mar 2022 08:30:00 +0000 https://recomp.5oclock.io/?p=3071 Compucom Blog - How Rugged Devices are Transforming Frontline IndustriesThe workplace is changing, but the need for productivity is constant. Device flexibility, workplace adaptability, and durable tech solutions are crucial.

Among the most significant by-products of the pandemic has been an increased reliance on technology to not only keep business operations afloat but as a solution for longstanding workflow inefficiencies.

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Compucom Editorial Team

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The workplace is changing, but the need for productivity is constant. Device flexibility, workplace adaptability, and durable tech solutions are crucial.

Among the most significant by-products of the pandemic has been an increased reliance on technology to not only keep business operations afloat but as a solution for longstanding workflow inefficiencies.

While every industry has had to respond to the pandemic in some form or another, those operating in the fields of retail, construction, engineering, healthcare, manufacturing and logistics, were hit especially hard – ushering in an immediate need for digital tools and technology to get jobs done safely and effectively.

Meet the all-new Samsung Galaxy rugged mobile devices, offering a durable and flexible solution for frontline workers. With customizable features and functionality to support day-to-day tasks and defense-grade security, the Galaxy Rugged series is built to support your work, no matter where or what the job demands.

The all-new Samsung Galaxy rugged mobile devices, offering a durable and flexible solution for frontline workers. With customizable features and functionality to support day-to-day tasks and defense-grade security, the Galaxy Rugged series is built to support your work, no matter where or what the job demands.

Warehouse workers need rugged mobile devices that can help them access the required applications without worrying about their device being damaged in the process. They also need mobile devices that consolidate multiple solutions, including applications to digitize their workflows and special features like built-in scanning, minimizing the number of devices they have to carry.

Technology to Withstand Retail Demands

What does the future of retail look like? Based on decades of experience working with many of America’s leading store chains on effective IT solutions and compelling digital platforms, we see clear trends emerging.

The Samsung Galaxy Tab Active rugged family, which consists of the Galaxy Tab Active Pro and Galaxy Tab Active3 tablets, come with Knox Capture enterprise-grade barcode scanning technology. With the touch of a programmable button, retail workers have a multi-purpose scanning solution at their fingertips to help them complete fulfillment requests efficiently, with a process as intuitive as snapping a photo.

Combined with Compucom’s services to manage devices using cloud-based modern endpoint management, Samsung rugged devices features include:

compucom - samsung rugged key features

Employees need the right devices to be productive. Your business needs a simple way to manage those devices. Compucom’s partnership with Samsung provides both, improving productivity and efficiency.

Better Associate Experience, Improved Customer Satisfaction

In a world where workers expect technology and support that rival what they use in their private lives, organizations also need that consumer-like experience to inspire creativity, productivity, and seamless collaboration. The challenge is delivering a comprehensive package of device choice, robust support, and proactive lifecycle management—all meeting sustainability goals.

As a Samsung Silver Partner and a rated Leader in Managed Digital Workplace Services by both ISG and Nelson Hall, and a Disruptor by Avasant, Compucom is qualified to manage Samsung devices from procurement and deployment, to support and disposal. We manage device configuration, enrollment, advanced mobile security controls and updates, providing mobility software for every stage of the device lifecycle.

Compucom is a digital workplace managed services provider with decades of experience providing technology services to enterprise customers. We serve 4.7 million end users, support 7.5 million devices, and deploy more than 2 million hardware devices a year. With us, you’re not juggling multiple vendors. We’re a single-source provider for end-to-end lifecycle management from procurement through retirement, leveraging our Advanced Configuration Centers and in-house IT Asset Disposition.


End-to-end Mobile Device Management

We believe that having the right collaboration tools will keep your organization better connected and more productive. With our Endpoint Management Services, we can provide you with the ability to provision, configure, and manage your endpoints with the management backbone for your digital workplace. Get intelligent tools that allow employees to work where and how they want, including a platform where they can meet, chat, call, and collaborate in one place.

Seamlessly connecting a distributed workforce with the apps and data needed to be productive at any time, from anywhere, using any internet-connected device is the end goal of modern endpoint management. We deliver an end-user focus that promotes device choice, out-of-the-box thinking, productivity, and collaboration.

By updating your devices with more frequent and strategic timelines, you can positively impact productivity, energy efficiency, and security. We can be your one-stop shop to help ensure positive employee experiences where your organization has access to peripherals that allow them to be efficient and productive. We can source the workplace technology you want and support it through its entire lifecycle, so you don’t have to.

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