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Table of Contents

Lead Story

Payments industry boldly moves forward

News

Industry Update

FDIC warns banks about processors

IRS backs down on reconciliation requirement

Facebook becoming a payment business

Trade Association News

Features

GS Advisory Board:
Views on IRS reporting and TIN matching

It's time to build your sales force

Marc Beauchamp
Performance Training Systems

An interview with Harold Montgomery

Ken Musante
Eureka Payments LLC

Research Rundown

ISOMetrics:
Commanding retail categories

Minimal (but effective) marketing makeovers

Selling Prepaid

Prepaid in brief

Glitch in Google Wallet raises security concerns

FIs awaken to prepaid's power

Views

Shop small, shop local

Patti Murphy
ProScribes Inc.

Education

Street SmartsSM:
The ins and outs of marketing

Bill Pirtle
C3ET Credit Card Consortia for Education & Training Inc.

Legal strategies for an evolving marketplace

Adam Atlas
Attorney at Law

Modern payment pros fill the knowledge gap

Nicholas Cucci
Network Merchants Inc.

MLSs are masters of change

Dale S. Laszig
Castles Technology Co. Ltd.

Company Profile

Harbortouch

New Products

Mobile wallet commerce platform

Apriva Wallet
Apriva LLC

Inspiration

Are you trying too hard?

Departments

Forum

Resource Guide

Datebook

Skyscraper Ad

The Green Sheet Online Edition

February 27, 2012  •  Issue 12:02:02

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Research Rundown

Retailers use e-commerce as 'digital face'

A new report from Retail Systems Research shows more retailers are using e-commerce as a "digital face" for customer interaction. According to the study, an increasing number of retailers with brick-and-mortar stores are investing in content management and social media integration, while choosing to delay in-store POS investments to allow time to evaluate in-store applications for their e-commerce platforms.

"Even though retailers expect more revenue to ultimately come from the online channel than ever before, they are challenged every day to keep up with evolving consumer behavior," said Steve Rowen, Managing Partner at RSR and co-author of the report. "You really can't overemphasize the importance of having an exciting online shopping experience that understands the customer's lifestyle - and how the brand and products can engage and suit that lifestyle.

"This report shows how the best performers understand that, how they are thinking and acting differently, and as a result, offers up some valuable lessons for all retailers to consider." Retailers in the study said they encountered two primary challenges when making the transition to an e-commerce platform: understanding how different customer segments engage online and coordinating all retail channels to create a seamless customer experience.

Best-in-class retailers in the study demonstrated an understanding of the key role inventory plays in creating a superior online experience. They also viewed the e-commerce platform as a central and pivotal point for all digital activity across channels. RSR's eCommerce 2012: Back to the Future report analyzes key business drivers, opportunities and organizational constraints pertaining to e-commerce initiatives in retail. It also provides recommendations for successful execution of e-commerce strategies.

To view a copy visit:
www.retailsystemsresearch.com/_document/summary/1390..

Mobile-savvy shoppers' in-store behavior

A Jan. 30, 2012, Pew Research Center survey of adult cell phone use during the 2011 holiday season found over half of respondents reported using their phones to access information for making purchase decisions. For more information, visit www.pewinternet.org.

Mobile-savvy shoppers' in-store behavior


Source: Pew Internet & American Life Project, The rise of in-store mobile commerce

"Analytics, profiling and segmentation are going to be looking at broader data, and will be your keys to customer relevancy and profitability. It shows you are listening and that your brand is smart."

-James Ray, Chief Technical Officer, Mocapay Inc.
Source: Loyalty 360, Executive Brief, Where is Loyalty Marketing Headed in 2012? An Inside Look at Trends Impacting the World of Customer Loyalty

Opportunity in mobile payments

An Aberdeen Group report, The Mobile Payment Opportunity: Get Paid Anytime Anywhere, offers a thorough analysis of mobile payments, from current market adoption to the value proposition, in terms of loyalty and cross-channel customer connectivity. The paper discusses current and planned capabilities for mobile payments and offers several key business strategies.

The future is now for EMV

A white paper by Gemalto N.V. titled The Migration to EMV Chip Technology explores a U.S. payments landscape no longer dominated by mag-stripe technology. With Visa's accelerated initiative to drive Europay/MasterCard/Visa (EMV) technology adoption in the United States, Gemalto believes the time is right to implement contactless and mobile payments and offers cost considerations for merchants and card issuers.

Transformations at the POS

According to Mercator Advisory Group, the POS terminal industry is undergoing revolutionary changes, marked by steady migration to a digital format, with electronic signature capture and email receipts effectively replacing paper transactions. POS Terminals: On the Cusp of Change examines the economic, geographic and technological developments reshaping the POS industry.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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Spotlight Innovators:

North American Bancard | Harbortouch | USAePay | IRISCRM.COM | Humboldt Merchant Services