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[C] Tell stories customers believe
We are all aware that customers enjoy stores and the best
story teller often gets the sale.
The problem retailers have faced is that consumers have been
losing trust in them and therefore telling a story as a retailer has
been a lot more difficult to get across and to make believable.
Quick Response Codes, QR Codes for short, now mean the
retailer can be among the best story tellers in town. You may
be aware of QR Codes; they are the black and white square
matrix that is appearing on products and signage. Take your
smart phone and click onto the QR Code and it will take you to a
designated webpage. This is normally a video that tells the story
about the product. It can provide information, care instructions,
history of the product, the manufacturing process or whatever
story you or your suppliers wish to tell. This removes the 'trust'
doubt in the customers mind and gives you extra credibility.
The customer now expects that you will be communicating via
Twitter and Facebook as well as providing technical information
for them on YouTube. They are ready for the virtual retailer, but
they still want you to be local and they still want to come into the
store for a genuine experience.
Retailers cannot rely on just the 'Bricks' model if they are to
prosper and be in business in five years time.
This does mean a change in mind set, not just a marketing
mindset, but also a merchandising and display mindset. The
future may mean that less stock is displayed in-store, but it is
display with more flair as the space is now available to allow you
to create displays that really make the consumer go WOW.
John Stanley provides conference presentations, workshops
and consultancy to the retail industry in 30 countries. He can
be contacted on firstname.lastname@example.org.
Retailers need to understand that
we do not control our destiny, that is
controlled by the consumer
More major banks and large
corporates are investigating how
they can use mobile payments as p
of their main business strategy, a n
report from KPMG has revealed, wit
believing that the technology could
mainstream in the next few years.
The report comes as the Commonwealth Bank announced
updates to its banking app suite and hinted at a rollout of near
field communication (NFC) technology soon.
"You can expect to hear more from us about NFC very
soon," says Commonwealth Bank General Manager of Channel
Marketing Andrew Murrell.
The KPMG Monetising Mobile survey shows that more than
80% of the 150 major banks and corporate companies questioned
are examining how they can introduce mobile payments, which
includes the use of NFC.
Google recently released its Wallet feature, which will allow
users to make payments on NFC-enabled phones at retailers
using the MasterCard contactless technology.
"I think we can see that technology like NFC is an enabler.
Coupling that type of tech with smart phones is a great
experience and there is an opportunity for us to create a great
banking experience," Murrell said.
Mobile payments market set to triple
Some 20 countries are expected to launch NFC services in the
next 18 months, resulting in transactions approaching $50 billion
worldwide by 2014.
A new study from Juniper Research (UK) determined that
the total value of mobile payments for digital and physical
goods, money transfers and NFC (Near Field Communications)
transactions will reach $670 billion by 2015, up from $240 billion
this year. These forecasts represent the gross merchandise value
of all purchases or the value of money being transferred.
The new report revealed that all segments will exhibit two and
three times growth over the next five years. This growth will be
driven by the rapid adoption of mobile ticketing, NFC contactless
payments, physical goods purchases and money transfers as
people in both developed and developing countries use their
devices for everyday transactions.
The study provides the big picture of mobile payments,
providing forecasts of the main market segments of digital
and physical goods purchases, contactless NFC and domestic
and international money transfers and remittances, providing
regional forecasts of gross transaction values.
A new Mobile Money Whitepaper and further details of the
study, 'Mobile Payment Strategies: Opportunities & Markets
2011--2015' can be freely downloaded from
National Newsagent August 2011 39.
IN A FEW YEARS
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