Data & Analytics

Loyalty programs may be commonplace across the retail industry, but few are capable of rewarding members on a personal level. Société de transport de Montréal (STM) may not be a retailer, but retail chains can learn a valuable lesson from how the transportation company rewards individual consumers for their loyalty.

The strategic role that IT plays in retail is evident as retailers across the board continue to up their technology investments. And with retail innovation being driven largely by tech-related advances in customer analytics, mobile and social commerce, and cross-channel strategies, IT spending is expected to remain a top priority.

But with increased investment comes the risk of overspending, warned NPI, a spend-management consulting firm that works with large retailers to maximize IT and telecom spending.

Traditionally, cash office management and the reconciliation process have relied on manual procedures, such as counting currency and coin by hand, creating handwritten check deposits, and keying totals into the POS system. Many retailers have used the same cash office procedures for years, with the procedures inconsistently executed from store to store. Chain Store Age talked with Balance Innovations’ Janette Davis about how technology is bringing new efficiencies to cash office management.

The life of any top-level retail executive is hectic, but there’s a whole host of mobile app tools to help manage everyday tasks and ultimately boost efficiency.

From keeping track of to-do lists and meetings to eliminating paper receipts needed for expense reports, here are eight essential iOS and Android apps every retail exec should download — and actually use:

By many accounts, Walgreens is already a mobile retailing veteran. But eager to keep its service exciting and valuable, the drug store chain recently added a new product-mapping service within its mobile strategy.

Walgreens began its mobile journey in September 2009, when it launched an app designed to “improve the way our customers interact with us,” explained Tim McCauley, senior director, mobile commerce for Deerfield, Ill.-based Walgreens.

By Phillip M. Perry

Overcast with clearing skies — That’s the economic forecast from a major research firm as retailers enter a new year. Drizzly conditions will remain at least for the first half of 2013 as consumers hold tight to their pocketbooks. By the summer, though, light should break through the clouds as the resolutions of critical national uncertainties encourage corporate hiring, capital investment and consumer spending.

Jeff Gordman is following in the family tradition. As president, chairman and CEO of Gordmans, he leads a company whose roots go back nearly 100 years, to when his grandfather opened a store in downtown Omaha in 1915.

From that one store, the company evolved over the years, eventually expanding beyond Nebraska. It also added a discount division, Half Price Stores. By 1990 the company had 32 stores, equally divided between the two divisions.

New York -- Mobile solution-provider Mobiquity said Tuesday that lifestyle retailer Alex and Ani has implemented the company’s new mobile checkout technology at all its stores.

The solution is designed to improve service and response times for customers, and drive increased revenues for Alex and Ani.

Armonk, N.Y. -- IBM reported Tuesday that online spending surged 30.3% year-over-year on Cyber Monday, an all-time high.

Mobile shopping rose 70% over the prior year.

As part of IBM’s Smarter Commerce initiative, the IBM Digital Analytics Benchmark revealed the following additional Cyber Monday key findings:

"A huge win," is how National Retailer Federation president and CEO Matt Shay characterized the biggest shopping weekend of the year during media briefing Sunday afternoon.

More people shopped more often in more places over the weekend and in the process pushed spending to a record $59.1 billion compared to $52.4 billion during the comparable four day period the prior year, according to an NRF survey of 4,000 shoppers.