SINGAPORE, March 30, 2018 /PRNewswire/ -- Brick and mortar retail is in trouble: as ecommerce gradually erodes physical retail—effectively commoditizing the routine shopping experience—retailers are finding it hard to survive. Competition based on price alone is a prescription for failure; and ecommerce sites, based on their massive scope and scale, are capable of underselling any local merchant. Yet, brick and mortar commerce has an advantage over ecommerce that most retailers are not leveraging: personalized experience.
Frost & Sullivan recently collaborated with NEC Corporation to develop an infographic, "Evolving Retail Landscape: Brick-and-Mortar Winning in Customer Experience", to further demonstrate that physical stores are critical to multichannel approach. Nearly half of millennial consumers prefer to shop in physical stores despite the robust growth of ecommerce as human interaction still holds significant value for consumers today.
Click here to download the infographic, visit: LINK
"Retailers today place almost equal focus on customer experience and ecommerce. However, many retailers face hurdles in managing the front-end and back-end systems efficiently," noted Ajay Sunder, Vice President, Digital Transformation team at Frost & Sullivan Asia Pacific. "Advanced technology solutions can enable global retailers to optimize store operations while providing greater visibility into customer behavior."
The infographic explains how NEC's Stanchion Store™ retail software solutions easily integrate with back-office systems to deliver customer information directly to the POS – transforming those into "Point of Service". Furthermore, its NeoFace® Face Recognition Suite can instantly recognize a customer entering the store and retrieve past transactions and preferences and thus, creating a personalized shopping experience.
As a key vendor of retail technology solutions, NEC has partnered with 122,000+ retail stores worldwide to improve in-store customer experience using its cutting edge technologies.
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About NEC Corporation
NEC Corporation is a leader in the integration of IT and network technologies that benefit businesses and people around the world. By providing a combination of products and solutions that cross utilize the company's experience and global resources, NEC's advanced technologies meet the complex and ever-changing needs of its customers. NEC brings more than 100 years of expertise in technological innovation to empower people, businesses and society.
For more information, visit NEC at http://www.nec.com
The NEC Group globally provides "Solutions for Society" that promote the safety, security, efficiency and equality of society. Under the company's corporate message of "Orchestrating a brighter world," NEC aims to help solve a wide range of challenging issues and to create new social value for the changing world of tomorrow.
For more information, please visit: http://www.nec.com/en/global/about/vision/message.html
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SOURCE Frost & Sullivan