With everyone paying attention to the usual retail suspects, some retail disruptors have gone relatively unnoticed. With the spotlight on Amazon and their latest innovation, the unfolding debacle at JC Penney, and everyone’s quest to realize multichannel, less attention has been paid to such disruptors as electronic shelf labeling and mobile payments.
Samsung is at the heart of the electronic shelf labeling revolution, which promises to be a real game changer for retailers. “Changing prices can be applied to stores on a real time basis, allowing for diverse and prompt promotions. In addition, retailers can implement consistent price policies as the central server controls all the prices”. This technology will finally help retailers realize dynamic pricing in-store and online.
The second major retail disruptor comes courtesy of the stealth work conducted by Apple in the area of mobile payments. Apple is poised to become the leader in this space with their large mobile phone market share and their booming e-commerce business. As ease of use and better security continue to improve the mobile shopper experience, it is expected that more and more retail traffic and conversions will shift to mobile devices that also have direct access to competitive prices.
Savvy retailers are paying attention to these disruptors and emerging forces. Having an accurate real time view into the competitive pricing landscape will be more critical than ever to attain continued retail success. Get in the game and contact 360pi now.