- 1 Dec 2014
Retail Assist Dictionary Week 2: On the Go Technology
Every year brings its own set of retail buzz words, and the last few years have been no different, awash with terms that describe these fast changing retail trends. That is why over the next couple of weeks we will be exploring this new and expanding terminology, with our Retail Assist dictionary of key terms.
Last week we looked at ‘International’ retail terminology which can be viewed here. This week we are focussing on ‘On the go Technology’ and next week we explore ‘Omnichannel Retailing’.
- Mobile Device: A mobile device is a small, handheld computing device, typically having a touch screen display. It’s a computing device that has an operating system (OS), and can run various types of apps. Most handheld devices are also often equipped with WiFi, Bluetooth and GPS capabilities and also have access to the internet. Smartphones are popular mobile devices, they are easily carried on your person and are amongst some of the most powerful and practical mobile devices. Smartphones can be a valuable asset for both customers and retail workers alike. It gives customers the ability to access knowledge about an item prior to purchase, and it allows retail employees to provide a more personalised service. Tablet devices are a form of mobile device and with low cost tablet based computing, retailers can now bring technology onto the sales floor at an acceptable cost. Employing mobile technology enables retailers to tap into smarter ways of keeping check on stock. Unlike the previous generation of Hand Held Terminals, today’s Tablets are multifunctional devices, enabling your store teams to manage inventory, to browse the catalogue and process their emails and store instructions. For more information on mobile devices please click here.
- Mobile Payments: This pertains to the services and technology that enables consumers to pay using their mobile phones, instead of traditional forms of payment like cash or credit cards. Mobile payment solutions come in many forms, including; Near Field Communication (NFC)-based solutions such as ISIS or Google Wallet, and app-based solutions like PayPal.
- Relationship Retailing: This is a strategy that businesses implement to build loyalty and forge long-term relationships with customers. Relationship retailing can come in the form of loyalty programs, personalised experiences, or tailored customer service.
- eCommerce: Electronic commerce, is trading in products or services using computer networks, such as the internet. It draws on technologies such as mobile commerce, electronic transfer of funds, supply chain management, internet marketing, online process of transactions, data collection and inventory management systems.
- Etailing: Short for “Electronic Retailing”, this is the practice of selling goods over the Internet. Etailers come in all shapes and sizes, and can be as big as giants like Amazon and as small as stay-at-home mums selling crafts online. Etailing has seen tremendous growth over the years, thanks to the emergence of platforms that make it easy for just about anyone to buy and sell online. In 2012, comScore reported that retail e-commerce spending amounted to over $44 billion in the US alone, which was a 17% increase on the previous year.
- Web-Rooming: This is the practice of looking at products online before buying them in physical bricks-and-mortar stores. It’s the opposite of showrooming, where customers look at products in physical stores only to buy them online. Image-based websites and social networks such as Pinterest help perpetuate web-rooming. Users see items that they like while browsing these sites and then go out in the real world to test or try items on.
- Click-and-Collect: Retailers enable shoppers to purchase items online and pick them up in their physical stores. Like bricks-and-clicks, click-and-collect stores merge eCommerce and physical retail outlets together. It can often make the shopping journey more convenient for consumers, making a purchase from the comfort of their own home, and collecting the item whenever is most convenient for them, instead of paying for shipping or waiting for their delivery to arrive.
- Brick-and-click: Retailers that integrate their bricks-and-mortar store with their eCommerce site. These retailers bring the best of both worlds into their business. Most brick-and-click companies even offer seamless web-to-store services such as in-store pick-ups and returns.
If you would like any more information about us and are interested to see how we could provide you with ‘On the go Technology’ then you can visit our website: http://www.retail-assist.co.uk/our-solutions/on-the-go/. Or you can get in touch, via telephone: 0 115 853 3910 or email: firstname.lastname@example.org.