Tech Helps Retailers Live Up to Modern Consumer Expectations

Retail Leader spoke with Ricardo Castanon, director of Teamwork Commerce Mexico, about how the latest technological innovations can help retailers streamline the checkout process, boost consumer loyalty and deliver top-tier customer experiences.

Retail Leader (RL): Petco is incorporating QR code scanning, allowing multiple items to be added with a single scan to streamline the checkout process. Can you elaborate on the technology? Are there any other technologies retailers can harness to streamline their checkout process?

Ricardo Castanon: We use a QR code to incorporate individual items in one single code. By scanning a single QR code, multiple items and services can be added to the sale receipt. Point-of-sale (POS) software can scan barcodes or QR codes by using an iPad camera, eliminating the need for separate barcode readers. Scanners that read 1D and 2D codes can also be connected. The tech is user-friendly and also allows customers to scan their gift and membership cards seamlessly. 

A number of new and exciting checkout technologies are becoming increasingly popular across the globe. RFID-powered self-checkout, for example, can automatically scan multiple items within seconds, creating a hassle-free customer checkout experience. With the technology deployed, retailers can increase the number of transactions completed during operating hours while reducing human error. In-store associates are also afforded the time to focus on customer service rather than manually completing transactions. What’s more, these terminals have alarm-triggering capabilities that can reduce in-store theft, helping retailers address the shrink dilemma. 

RL: Earning consumer loyalty in today’s competitive landscape is a must. What role can the latest retail tech play in helping retailers earn and boost customer loyalty?

Castanon: Some of the top factors that drive consumer loyalty are customer satisfaction, positive shopping experience and brand trust. To positively influence these factors, retailers can leverage advanced retail solutions in a number of ways such as to deliver a personalized experience, ensure the security of customer data, and eliminate friction, all while making the customer shopping experience more convenient than ever.

The latest customer relationship (CRM) management tools enable retailers to boost customer loyalty by implementing a rewards program. With real-time tracking of customer preferences and purchase history, the program accumulates points for every purchase. Customers can redeem these points for exclusive discounts and personalized offers, fostering meaningful relationships with the brand. The CRM data also helps retailers send targeted communications and gain valuable insights into shopping trends, enhancing the overall shopping experience for everyone. However, one important consideration to keep in mind is that a CRM tool must be secure and comply with regulatory requirements. As customers can easily turn their backs on retailers who fail to keep their data secure

For mid-sized to large-scale retail businesses, what are the advantages of incorporating an all-encompassing retail tech solution?

Castanon: Myriads of technologies are disrupting the retail industry. However, in today’s omnichannel world, retailers must weave different solutions with the same thread. In other words, they must be able to consolidate all solutions under a single umbrella. This allows them to eliminate siloed environments and gain a holistic view of their entire retail ecosystems — from the supply chain to the store shelf. This is even more crucial for mid-sized to large-scale retailers who have to manage multiple stores and warehouses, keeping track of sales, logistics, inventory and other operations.  

An all-encompassing solution can consolidate all this information and make it accessible to retailers at just the click of a button. Retailers can seamlessly tap into any of the retail areas, whether it is sales, customers, analytics, inventory, a store, or overall logistics and supply chain. This allows them to better manage their business operations. They can easily track individual store performance and manage stock distribution. 

With a seamless flow of information in real time, retailers can allocate more stock to busy stores while also avoiding overstocking items that are not in demand. Additionally, the technology helps retailers make informed decisions related to their production and procurement. Not only does it boost their overall efficiency, but it also improves retailers’ environmental impact by preventing excess inventory, production and transportation.

RL: Research shows half of surveyed consumers find knowledgeable and helpful sales associates an appealing attribute of shopping in-store. How do you think retailers should empower their staff to add value to the customer experience?

Castanon: Retailers can empower their associates by providing them with the latest mobile POS solutions to serve customers. Mobile POS solutions must be integrated with wider retail technologies such as CRM, clienteling, e-commerce, inventory and order management. This way, in-store associates can easily access up-to-date information about their retail store and customers alike. 

The seamless access allows them to add value to the customer experience. For example, with updated inventory data at their fingertips, associates can quickly answer stock-related questions from customers. Additionally, mobile POS applications also offer valuable information related to customers such as their individual preferences, purchase history and frequency. This allows sales associates to tailor individual experiences and create meaningful interactions. With mobile POS, they can serve customers from any part of the store, providing shoppers with the ultimate level of convenience.

RL: Why is retail technology pivotal for a positive consumer experience moving forward?

Castanon: The retail panorama is rapidly evolving. To thrive in a highly saturated industry, only meeting basic consumer needs is not enough. Instead, retailers need to be able to live up to changing customer expectations and deliver personalized experiences, all while ensuring high-level convenience for their customers. 

From facilitating omnichannel offerings such as buy online pickup in-store and buy online return in-store to creating seamless and faster checkouts through mobile POS and self-checkout terminals — the role of technology has never been more important. Moreover, retailers must consider retail technology deployment as an ongoing process and not a one-off investment. New innovations are continuously disrupting the industry and to stay ahead of the curve, retailers must upgrade their technology stack on an ongoing basis.