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ICX Symposium: Transforming retail with responsive store

When it comes to a successful interactive customer experience today’s businesses must focus on finding a balance as there is often a big mismatch between a retailer’s view of the customer’s needs and what the customer wants in the consumer experience.

Intel's Ravi Sirigineedi

October 30, 2015 by Judy Mottl — Editor, RetailCustomerExperience.com & DigitalSignageToday.com

“It’s all about service, service, service for retailers,” Ravi Sirigineedi, visual retail segment marketing manager, IoT Retail Solutions, Intel, told attendees Tuesday at the ICX Association’s fall ICX symposium in Atlanta, Georgia.

The problem is consumers want something very different.

“The consumer wants to make sure that if something is broke the retailer is going to fix it and that presents a mismatch between what retailers are striving to give consumers and what consumers truly want,” explained Sirigineedi during his session, “Transforming retail with responsive store.”

His talk was the second of five in an event that is designed to help B2C brands gain actionable insights on applying effective tech-based customer engagement strategies to their operations.

Each event in the ICX Symposium series focuses on a single topic, and the Atlanta event’s boils down to giving attendees practical steps for using emerging technologies to secure success for the future.

Sirigineedi’s presentation offered up insight on how the Internet of Things (IoT) presents an opportunity for companies to find the required balance and create a responsive store environment.

That’s because IoT allows mobile devices to connect with digital technologies being laid down in retail environments, from the healthcare setting to the hospitality segment. Among the emerging IoT scenarios are mobile pay tablets landing on restaurant tables that let consumers order and pay without requiring a server, which gives them a more personal experience as they’re in greater control.

Sirignineedi shared a personal anecdote as well in which mobile shopping gave him greater control over a home project. The ability to order a needed cable while on a plane allowed him to finish that project the night he landed instead of having to run to the nearby electronic store or order via PC once back at his desktop.

Such consumer-facing capabilities illustrate what a ‘responsive store’ needs to offer customers today.

“It’s about sharing intelligence among devices and using data to improve the customer experience,” he told the attendees.

A responsive store, he explained, isn’t just an online consumer phenomenon as the same IoT technology can be put to work in the brick-and-mortar setting. A recent example is the omnichannel approach Sears is taking with connecting online shoppers with in-store knowledgeable associates and Amazon’s expertise at presenting relevant suggestions regarding potential product options.

“You can bring that same personal customized experience into the brick and mortar,” he said, noting the critical aspect in both scenarios is ensuring IoT technology keeps the consumer ‘in’ the store to complete the transaction.

By collecting data on consumer behavior and traffic patterns, online and off, companies not only boost the customer experience but can save big bucks and gain big efficiency.

For example if a supermarkets can ascertain top sales days for certain cuts of meat, and how much meat is typically being purchased, they can cut meat on the day and cut only as much as needed—which eliminates today’s product waste and allows them to offer the freshest product to customers.

“It’s all about being nimble and it’s all about how fast can I react to consumer patterns, by solving issues or enhancing the customer experience. That’s the name of the game,” said Sirigineedi.

Another example is reflected in Levi’s use of tagging inventory so it knows if jeans stock is low and using the tag to help consumers find the size, color and cut of jean they want with just a few touch points.

Such insight helps a retailer avoid overstocking, which costs money, and understocking which runs the risk of turning off customers seeking a specific item.

“You need to define the customer expectations and that’s changing faster than one imagines. The goal is to implement technology and stay ahead and that means understanding the customer,” said Sirigineedi.

About Judy Mottl

Judy Mottl is editor of Retail Customer Experience and Digital Signage Today. She has decades of experience as a reporter, writer and editor covering technology and business for top media including AOL, InformationWeek, InternetNews and Food Truck Operator.

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