Research and Markets: Shop X: Using Technology for Competitive Differentiation in High-Street Retail (Strategy Focus).DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/reports/c70172) has announced the addition of Shop X: Using technology for competitive differentiation in high-street retail (Strategy Focus) to their offering. Introduction Profit margins within the retail sector are being pushed down due to a variety of factors including the pressures of globalization globalization Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation , issues such as the relaxation of trade tariffs and the deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. of domestic economies. In face of rising operational costs and razor slim profit margins, retailers are using technology to increase operational efficiency and counterbalance soaring costs. Scope This brief looks at the issues holding deployment of technology back, and examines ways in which vendors can expedite penetration. Attention is also given to the problems facing integrating technology with store systems. Highlights Due to cost restrictions most new technologies are restricted to tier 1 retailers. In order to achieve the greatest ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). possible and thus increase the chance of uptake, vendors and retailers should work closely in order to establish relationships that will enable them to develop the most pertinent technologies. One of the greatest objections NFC NFC abbr. National Football Conference vendors are likely to face in convincing retailers to implement NFC technology is the excessive interchange fees Interchange fee is a term used in the payment card industry to describe a fee that bank card networks such as Visa and MasterCard require merchants to pay card-issuing banks when merchants accept their credit and debit cards for purchases. that retailers pay to banks and card companies for processing each transaction. Technology vendors and retailers should work together to exert pressure on banks to cut these. Reasons to Purchase Many technologies have not achieved the degree of market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" expected; this brief examines go to market strategies that will help drive uptake Gain insight into how to integrate technologies and applications in order to achieve maximum ROI. Content Outline: OUR VIEW CATALYST SUMMARY ANALYSIS RFID (Radio Frequency IDentification) A data collection technology that uses electronic tags for storing data. The tag, also known as an "electronic label," "transponder" or "code plate," is made up of an RFID chip attached to an antenna. provides more effective management of retail assets Failing to achieve expected penetration - what vendors can do Although RFID prices are falling, vendors and supply chain companies are still subsidizing retailers Case study: Gillette razors have implemented an excellent example of a closed loop application RFID can be integrated with other applications Case study: Marks and Spencers demonstrates the importance of a careful cost benefit analysis Companies are using slap and ship tagging to comply with retailer mandates NFC is an ideal payment method for industries in which speed is essential Problems facing vendors of NFC technology Digital Signage Digital signage is a form of out-of-home advertising in which content and messages displayed on an electronic screen, or digital sign, can be changed without modification to the physical sign, typically with the goal of delivering targeted messages to specific locations at is a highly effective advertising platform Case study: Wal-Marts digital signage system is an excellent example of narrowcasing To increase ROI and drive uptake vendors should integrate digital signage with other applications Self service check outs provide a solution to employee shortages Loss of impulse buys impulse buy n → achat m d'impulsion impulse buy impulse n → Impulsivkauf m impulse buy n → must be considered when calculating ROI Digital signage vendors should integrate BI offerings into technology offerings ACTIONS RFID NFC Digital signage Self service APPENDIX Definitions RFID - Radio Frequency Identification See RFID. Methodology Further reading Ask the analyst Our consulting Disclaimer List of Figures Figure 1: How NFC works Figure 2: Self service check out For more information visit http://www.researchandmarkets.com/reports/c70172. Source: Datamonitor |
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