Shop X: Next-generation retailing: the importance of service orientation (Market Focus)

Retailers are operating in a highly competitive environment due to increasing competition from multichannel sources such as the growth of online retailing, as well as rising energy and real estate costs. As a result of these pressures, the retail industry is looking to technology to cut costs and boost profitability.



Report Highlights
The highly interdependent nature of commerce today has exposed retailers to global market pressures. The recent collapse of several established retailers has served as a stark highlight of the risks in remaining complacent in a volatile retail market. In order to retain market share retailers need to streamline the buying experience for consumers, aligning it more with online shopping, in terms of ease and speed of transaction.


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DATAMONITOR VIEW 1
CATALYST 1
SUMMARY 1
ANALYSIS 2
The retail market's structure and evolution 2
Pressures facing retailers 3
Consumers in the UK and US are facing straitened economic conditions 4
Which key technologies can help? 5
NFC, RFID, digital signage and self service are key technologies affecting retailers 5
RFID facilitates effective management of retail assets 6
NFC facilitates contactless payments 8
NFC increases average spend per transaction 9
NFC is a cost efficient technology for retail banks 10
NFC can generate new revenue streams for mobile phone providers 10
Digital signage can provide an effective advertising medium 12
Case study - Woolworths has successfully implemented digital shelf edge labeling 13
Self service tills cut costs and queue times 14
ACTIONS 15
Issues facing retailers 15
Key technologies 15
APPENDIX 16
Definitions 16
Methodology 16
Further reading 16
Ask the analyst 17
Datamonitor consulting 17
Disclaimer 17

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Table 1: Breakdown of retail type in Europe, North America and APAC 2


Figure 1: The pressures facing retail 4
Figure 2: Advantages of RFID Implementation 7
Figure 3: Spend on RFID in the retail sector, by region 2006-2012 8
Figure 4: The importance of mobile technology within retail 9
Figure 5: NFC spend in the retail sector, by region, 2006 - 2012 11
Figure 6: Spend on digital signage in the retail sector 2006-2012, by region 13

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