An article appeared very recently in the Wall Street Journal entitled “Mall Owners Head for Exits As Retail Tenants Move Out”. The headline speaks for itself. What was most startling though, was what the article mentioned had occurred in January. Specifically:
• Sears Holdings Corp said it would close 150 stores
• Macy’s Inc. plans to close 100 stores
• Limited Stores Co. will close all of its 250 stores and file for Chapter 11 bankruptcy
Now Is The Time To Help Your Customers Cross The Chasm
After reading the piece I was struck by the gravity of what’s happening in brick-and-mortar retail. And, it’s happening to small and large retailers alike. What is even more amazing is the increase in velocity at which the traditional retail establishments are being challenged. I’m more convinced than ever that for brick-and-mortar retailers to remain relevant, they must embrace a new shopping paradigm. This new standard embodies the merger of the physical and the digital worlds. Herein lies an important responsibility for retail-focused technology providers, and an opportunity, as well. Now is the time to create a sustainable, digital, retail strategy and guide your customers through the shift.
The Best of Both Worlds
People are still going into retail stores to shop. They just expect a different shopping experience. In essence, they want the human interaction and the tactile experience they have always known from the brick-and-mortar store. And, they also expect the immediacy, personalization and comparability that they enjoy in their digital shopping experiences.
By modernizing brick-and-mortar stores with physical plus digital capabilities, technology providers can help retailers instantly create new and meaningful ways to delight their customers. In addition, retailers will also be able to exponentially improve management of their inventory and distribution channels.
Intel® is Committed to Driving the New Retail Experience
In case you missed the announcement, Intel is investing more than $100 million in the Intel® Responsive Retail Platform over the next five years. [Read: It’s Open Season in Retail Technology.] One technology that is an immediate game-changer for retailers is the Intel® Retail Sensor Platform. It is a simple, affordable inventory system for brick-and-mortar retailers that combines asset tracking with analytics while protecting consumer privacy and improving customer experiences. Embedded sensors combined with RFID tags on a smart platform successfully:
• Automate inventory tracking accuracy
• Gather in-depth intelligence on customer behavior and preferences
• Reduce losses from misplaced items and inventory shrink
It’s a new day for retail. And it’s amazing. See how Intel is powering the future of retail here.
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