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Retailers: Tech is big hurdle in advancing business, driving forward

Old cranky point-of-sale systems are a big obstacle in driving the retail business forward, but a new system isn't the silver bullet, retailers acknowledge in a new research report.

October 26, 2015

A new study reveals a good number of retailers view current technology systems as a barrier for driving business forward and the point-of-sale solution as a big barrier to meeting in-store customer expectations.

Yet it's not the only thing that needs fixing states the RSR research, according to an announcement. Of retailers polled in the survey, 95 percent believe the digital customer experience and the in-store experience must meld together to provide a continuous seamless experience, and just swapping in a new POS is just part of what needs to be done. Here are some other key findings:

• 77 percent of retailers believe their legacy POS is preventing them from providing a consistent customer experience across channels.
• 78 percent report getting new technologies rolled out to stores is a top challenge.
• 94 percent of retailers say inventory insight across all channels is important.
• 95 percent of retailers say real-time visibility into customer activity across all channels is important.

"Today's highly connected consumers expect fluid and relevant interactions where their information with the brand is never lost across channels. Unfortunately, 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," states the announcement.

Trying to find a solution is a challenge as many retailers report they don’t have a clear view on where to start revamping to hurdle the challenges. Report author, RSR Research Managing Partner Steve Rowan, said most retailers do realize just swapping in a new POS isn’t the silver bullet and are leery that new technology could prove too costly.

"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 Rowan. "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."

For more insight, download the report.