Earlier this year, Tesco CEO Sir Terry Leahy told delegates at the London Business Forum that it was one of the areas of retail with huge potential to grow in the years ahead.
Retail Gazette caught up with Scott Storey, Managing Director of retail management and solutions provider CTS Retail, to find out his thoughts on contactless payment, POS technology and other issues facing the sector today.
How quickly do you anticipate the majority of retailers introducing contactless payment systems? The retail world is now very consumer led, and delivering the complete user experience across all channels will be the primary driver for the next 12 to 18 months. With this in mind I do not see the majority of retailers adopting contactless payment systems for at least three to five years.
What are the best innovations in POS/EPOS available to retailers in today’s market? With increasing consumer demand and customer loyalty heavily associated with the cross-channel experience, every retailer is looking to consolidate all of the disparate channels to gain a single view, deliver consistent levels of service and a better customer experience. Solutions such as Torex Retail J, BT Expedite & Fresca’s Integrated Store and Cervello are good examples of solutions that provide a single view of the customer and enable the retailer to deliver a more customer-centric approach.
Which retailers are leading the way when it comes to incorporating cutting edge technology? Every retailer today is striving to consolidate systems and maximise return on investment through the use of the full spectrum of available sales channels. The early adopters have become true cross channel services. Those most notable are Tesco, Next and Homebase.
What advantages can be made through integrating specialist system solutions for fast growing retailers? There are some exciting innovations available on the market for those looking to grow quickly but keep capital expenditure under control. For fast growing retailers, Cervello delivers a complete offering for cross channel/multichannel solution with no upfront license fees allowing fast growing retailers to invest in product and their business rather than infrastructure. Retailers need to carefully select solutions which help deliver rapid ROI, leap frogs the competition in terms of service delivery and minimises risk in the current economic climate.
Questions by Jon Whiteaker