2014 Retail Tech Spending Aimed at Customer "Centricity"

180934364Based upon “Retail IT Forecast 2014: It’s All About the Consumer,” a recent article at Business Solutions’ IT Channel-focused website bsminfo.com, retailers proclaiming themselves as “consumer-focused” seem ready to walk the talk.
Business Solutions surveyed its over 40,000 newsletter subscribers about their 2014 technology plans over a broad variety of disciplines, including in-store hardware and software, marketing & operations and omni-channel retailing.
As the only full-service point of service (POS) provider — from software development to franchise incubator to ongoing support — part of Sintel’s commitment to our customers and industry is to share information on how to achieve success. Whether you’re a first-time franchise hopeful, a small business owner or an established chain, it’s always smart to stay on top of information technology.
Here are some of the survey questions, along with some salient points from the post:
In 2014, What In-Store Hardware Technologies Does Your Company Plan To Invest In?”
Forty-eight percent of respondents named mobile POS software as their top in-store hardware expenditure in 2014. In 2013, the figure was 40 percent. Mobile devices for store employees (non-POS) were named second as the top planned expenditures, at 38 percent, followed closely by traditional POS hardware (38 percent). Self-checkout systems scored lowest at 12 percent.
In 2014, What In-Store Software & Systems Technologies Does Your Company Plan To Invest In?
Forty-four percent of respondents named mobile POS software as their top in-store software expenditure in 2014, tied with standard POS software. Mobile device management software and wireless networking were third (39 percent) and fourth (38 percent), respectively.
– “Last year, payment processing initiatives topped the in-store software to-do list for 40 percent of our survey, making them the number one priority,” writes bsminfo.com. “While mobile POS software, wireless networks, and mobile device management spending will surpass that of payment processing in 2014, nearly a third of retailers still plan to invest in payment software next year.”
In 2014, What Marketing & Operations Technologies Does Your Company Plan To Invest In?

Fifty-five percent of respondents named social media marketing as their top planned expenditure for marketing & operations technology in 2014. Mobile marketing was named second often as the top planned expenditure for marketing & operations technology, at 48 percent, followed closely by customer experience management/loyalty (46 percent). Geolocation scored lowest at 12 percent.
– Achieving customer “centricity,” perhaps a common cliché, is the goal as shoppers, no longer captive, can now shop in the physical realm but purchase online, often at a discount.
In 2014, What Omni-Channel Retailing Technologies Does Your Company Plan To Invest In?
Forty-six percent of respondents named E-commerce platforms as their top omni-channel retailing technology expenditure in 2014, tied with customer experience management. Order management and inventory visibility were third (39 percent) and fourth (38 percent), respectively.
In conclusion to its 2014 Retail IT Forecast, Business Solutions writes, “Retailers’ investment intentions are increasingly turning toward customer-centric applications and managed services to support them.”
We form lasting partnerships with our clients that you simply can’t get from a reseller, allowing larger franchises to grow and providing startups the foundation for future growth from the very beginning by acting as a franchise incubator. Our expertise can help you avoid common pitfalls of entry into this thriving but complex industry — including the challenge of using technological advances to meet customer expectations.
Whether you’re a first-time franchise hopeful, a small business owner or an established chain, it’s always smart to stay on top of technological, and social, industry trends.
If you are interested in learning more about Sintel’s POS systems and how our knowledge and support can impact your future success, call us for a complimentary phone consultation.
Check out the full bsminfo.com post, with accompanying bar charts here, free with registration.
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