77 Percent of Consumers Value Credit Card Features In-App

Posted by GPShopper Press Coverage on Aug 24, 2018 9:48:23 AM

Excerpt from Synchrony press release

According to new data from the Synchrony 2018 Digital Study77 percent of consumers rated credit card features on an app as very or extremely valuable.SyPI-Apply

The study comes as SyPI, Synchrony’s native app plug-in, hit $1 billion in credit card bill payments since the product’s launch in 2016. SyPI is embedded within a retailer’s app and functions as a complete credit experience - consumers can apply for credit, perform all servicing functions, view available rewards certificates, and more, without leaving the retailer’s mobile app.

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Topics: Omnichannel Retail, Retail Industry Research, Mobile Payments, Retail Tech News, Mobile Retail Apps

WWD: Personalization in the Age of Artificial Intelligence

Posted by Alex Muller on Jun 5, 2018 11:14:00 AM

Are you ready to hire 10,000 marketing managers to compete with AI?

For the better part of a decade, retail has looked to “personalization” as its primary marketing strategy in an effort to combat a rapidly deteriorating landscape. It’s time to admit it’s not working. True personalization, a 1:1 marketing experience between the brand and the consumer, is incredibly difficult, if not impossible with the current tools at a marketing team’s disposal. In fact, it would probably take upward of 10,000 marketing managers to pull such a strategy off. Artificial intelligence and machine learning, on the other hand, could handle it in mere minutes.

With a rising number of store closures this year, already up to at least 3,000, retailers can’t deny they’re struggling to find a strategy that works across the board to bring shoppers back into the fold and generate the loyalty they desperately need. AI, particularly as a marketing function, has the transformative power to cure some of these ills, but as it stands, only major companies like Amazon or Google are harnessing the technology in a way that impacts the bottom line. The challenge many brands face is how to catch up or even begin to compete.

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Topics: Retail Tech News, Omnichannel Retail, In-Store Experience, Mobile Retail Apps

eMarketer: Why Some Tech Fails to Dazzle

Posted by GPShopper Press Coverage on Jun 1, 2018 9:55:00 AM

Shoppers are more receptive to 'scan and go' than facial recognition

Retailers often bank on new in-store features being transformative, only to be met with consumer resistance. So, what makes a shopper receptive to a retail innovation?
 
A new study from GPShopper found differing attitudes among US internet users when it asked about two forms of emerging retail technology: facial recognition and “scan-and-go” initiatives. Regarding facial recognition technology, 45% of respondents had privacy concerns. But more importantly, 49% simply don’t believe the technology will improve their shopping experience.
 
In contrast, 48% of respondents said scan-and-go technology, which allows shoppers to use a retailer-provided device or mobile app to scan items and pay by smartphone, would make shopping easier. And 43% would rather try this method than wait in a checkout line. Consumers showed the most interest for using this tech at grocery stores (50%), followed by retailers specializing in home goods (30%), apparel (27%) and beauty (25%).
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Topics: Retail Tech News, Omnichannel Retail, Retail Industry Research, In-Store Experience, Mobile Retail Apps

Reframing Retail — Getting Underneath The Headlines And Hype

Posted by Maya Mikhailov on Apr 18, 2018 1:05:00 PM

Article in Retail Touchpoints

There isn’t an industry today devoid of technology. It has completely revolutionized the ways in which business gets done — from improving personalized customer knowledge through data, to reducing costs and increasing accuracy in supply chains, to using chatbots and other artificial intelligence (AI) to improve customer service.

For the consumer, tech has leveled the playing field — most immediately, from a customer service perspective. Treated unfairly on a flight? Tweet about it. Experience a product fail? Take pictures and email them to customer service. But the extent of retailers’ technological support cannot just emerge when things go wrong. Tech in the retail space must be about making experiences seamless throughout the journey. Perhaps when that happens, we’ll see less volatility in the industry.

While the current narrative largely bewails the “retail apocalypse,” experts should not be so quick to blame e-Commerce, and retailers must shake off psychological bruising from past economic downturns.

If we’re going to point blame for retail woes, we must consider the oversaturation of stores in the U.S. and the fact that, on the whole, stores have not offered the level of engagement customers are seeking.

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Topics: Retail Tech News, Omnichannel Retail

Glossy: Barneys taps into the wellness trend

Posted by Lauren Hand on Mar 1, 2018 9:14:00 AM
Excerpt from Glossy article
Written by Jessica Schiffer

Like everyone else hoping to maintain relevance with today’s consumers, Barneys New York has caught the wellness bug. This week, it introduced its new Conscious Beauty category in stores and online, comprised of “clean beauty” products and ingestible beauty supplements.

“The wellness trend has evolved and grown, and everybody’s talking about it,” said Jennifer Miles, Barneys’ vice president of cosmetics.

Indeed, the market is expected to be worth $13 billion by 2023, according to a recent report from Research and Markets.

“Customers are so savvy about ingredients, and very aware of what they’re putting in and on their bodies, so we really wanted to tap into that,” she said.

At this point, Barneys is playing catch-up to department store competitors. The news is reminiscent of similar endeavors launched last year by retailers like Neiman Marcus, with its Wellness Shop, and Goop’s pop-in shop at Nordstrom.

That doesn’t really matter, said Maya Mikhailov, the co-founder and CMO of retail app developer GPShopper.

“Late or not, they’re recognizing that wellness is the new luxury,” she said. “Gucci- and Prada-heeled consumers are snapping up health and wellness experiences with the same enthusiasm as this season’s latest fashions, so it’s no surprise that Barneys is getting more aggressive with this strategy.”

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Topics: Retail Tech News, Omnichannel Retail

About GPShopper

GPShopper is a mobile commerce platform and app developer for retailers, using technology to transform the total retail experience.  GPShopper is a Synchrony solution. 
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