Why Frictionless Matters

In our last post we illustrated why it isn’t enough (or sometimes even prudent) for retailers to obsess over being omnichannel, and why they must instead focus on aggressively removing friction from the customer experience. A detailed point of view with findings and analysis from a survey of 300 global retailers and brands has now been released. While the goal is similar for both retailers and brands – identify and eliminate inefficiencies in the customer experience that may cause consumers to abandon engagement; how they get to a frictionless experience is different. We’ve also published a detailed roadmap for both retailers and brands. With NRF’s annual convention and expo around the corner, here is a quick summary of the 4 key areas for retailers to focus on. These also represent the key technologies we’ll be tracking during the show. Payments & Commerce: The Connective Tissue Payments have the potential to be the unifying tissue of the shopping experience. It already is in the case of pureplay online retailers that offer features such as one-click checkout and secure customer profiles. Extending that experience into the store is the big challenge for brick and click retailers. Recent big-name announcements not withstanding, retailers must shun the tendency to view mobile payments as a way to bypass bank-fees, and instead explore the appropriate application of payment technology suited for their customer experience strategy.  The widely panned and largely unsuccessful mobile wallet and application launched by a who’s-who conglomerate of US retailers (CurrentC) is a perfect illustration of how not to approach payments. Instead, consumer oriented mobile payment platforms and wallets – Apple Pay,...

Creating a Frictionless Customer Experience – Why Retailers and Brands Must Go Beyond Omnichannel

Friction – or customer experience failures that cause customer dissatisfaction and create incentive for consumers to abandon engagement – leads to lost sales, loss of loyalty and a diluted brand experience and has a far-reaching impact. Retailers and brands must go beyond omnichannel to remove friction from the customer experience. Download Full...

Democratization of Retail

Several disruptive forces are at work globally — fostering a new-age consumerism that is participative, fragmented and personal. The impact on retail is far reaching as the lines between commerce and engagement continue to blur, obliterating conventional practices and forcing retailers out of their comfort zone. Download this Point of View to find out the key forces disrupting retail, their impact on the retail business model, and the key capabilities retailers will need to thrive in the age of democratization. Download Full...