Study: Outdated technology holding back retailers
MIAMI — Yesterday’s POS won’t cut it when it comes to providing a consistent experience across channels.
That’s among the findings of a study sponsored by NetSuite and conducted by RSR research, which finds that most retailers are falling short in bridging the online and in-store experience Among the main obstacles: outdated existing technology.
The report finds that retailers are struggling to unify their online and in-store experiences, with existing technology/infrastructure preventing them from moving forward with new omnichannel solutions. Indeed, 77% of the surveyed retailers believe their legacy point-of-sale (POS) is preventing them from providing a consistent customer experience across channels. What’s more, retailers said they face significant challenges getting new technologies rolled out to stores and in helping employees respond to informed, smartphone-enabled shoppers.
Key findings include:
95% of retailers agree that the store and the digital experience must be brought together for a continuous, seamless experience;
78% report getting new technologies rolled out to stores is a top challenge;
94% of retailers say inventory insight across all channels is important; and
95% of retailers say real-time visibility into customer activity across all channels is important.
Too many retailers still treat the in-store experience as completely separate from the online experience which frustrates customers and prevents retailers from capitalizing on opportunities for cross-sell, upsell and improved customer loyalty, according to the study.
"When it comes to how to support the convergence of digital and the full shopping journey, retailers are stuck – waiting for something better to come along than the disparate systems they have," said Steve Rowan, managing partner of RSR Research and an author of the report. "The reality is there are options out there, but even better-performing retailers are cautious in approaching them, fearing both the cost and the pain of making the change."
The study was sponsored by NetSuite, whose single cloud commerce platform SuiteCommerce InStore is the first system that integrates comprehensive omnichannel capabilities into an enterprise-class, mobile-first, POS solution that seamlessly unifies the online and in-store customer journey, according to the company.
The solution also provides visibility into inventory anywhere in the business, enabling the ability to combine different fulfillment models such as cash-and-carry and ship-to-home in a single transaction.
To download a complimentary benchmark report from RSR Research and NetSuite, click here.