With recent news of big names disappearing from the high street, tactics to achieve increased sales to avoid such a disaster need to be driven by innovation in 2013, according to leading technology company Synqera. It says that with the sad departure of long-established retailers such as Comet, Jessops, HMV and Blockbusters from the high street, this serves as a lesson to retailers to take customer loyalty very seriously.
Various opinions have been voiced over the demise of these retailers, including that they failed to respond to changing times and the way in which consumers use technology.
Kirill Gorynya, CEO from Synqera, comments: “Retailers are fully aware of the challenges involved in customer retention and the constant battle to drive sales in an increasingly competitive environment. The recent demise of long-standing brands should serve as a reminder to stay one step ahead of the competition on key success drivers such as customer loyalty. Whilst so far this has primarily been approached via loyalty cards, the more sophisticated and innovative methods of in-store marketing emerging in the retail technology world need to be viewed as a necessity rather than a luxury.”
This view is further supported following the recent Bain & Company and Kantar Worldpanel’s UK Shopper Survey 2012, which showed that shoppers are becoming less loyal, brand hopping and being led by promotions – in fact, 40 per cent of brand sales are now promotions led.
“Consumers are becoming despondent when it comes to loyalty cards and mass issue vouchers – they’ve seen it all before. Bespoke promotions based on personal information about the shopper, tailored specifically to their requirements and even mood, is what I believe retailers and brands need to embrace. New innovative technology will enable them to do this.”
Synqera has recently launched a retail and marketing solution which can help achieve heightened customer engagement at the cash desk – a previously unexplored promotion point. Simplate is a multi-media payment terminal which uses real-time data to target personalised offers and incentives to the consumer and integrates into the retailer’s current infrastructure and existing loyalty schemes. For brands, it offers an advertising platform, allowing retailers to benefit from the additional income stream.
Simplate features a camera, capable of verifying the gender and approximate age of the customer, touch screen, a built-in microphone and provides ultimate connectivity to retailers through functions including Wi-Fi, Bluetooth and Ethernet. A secure internet connection provides the facility for online payment systems, plus a valuable route for retailers and online businesses to connect with consumers offline through virtual services and receive data in real-time buying experiences.
Simplate also facilitates NFC payment to offer customers a contactless way of making payments, connecting with other data sources such as loyalty cards and mobile wallets.
For further information about Synqera’s marketing and payment solution and the Simplate platform, visit www.synqera.com.