NRF, the world’s biggest retail show, is almost here! The show is being held in New York and runs from January 15th-18th. Please visit us at booth 851 to see our technology in action and speak directly with Cisco subject matter experts to discuss how Cisco’s video solutions today can capture the customer behavior tomorrow, giving you powerful ways to generate revenue, create a consistent user experience across all channels, and maximize operational efficiency. Read More »
January 16-17, 2012 marks the 101st National Retail Federation Annual Conference and Expo in New York and Cisco Retail team and myself will be there. You can find out what Cisco will be showing at the event and get sneak peeks of the preparations for the show throughout the week through our coverage on Twitter, Facebook, FourSquare, LinkedIn Group, YouTube and Cisco Retail blog.
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2011 is drawing to a close as I am writing this blog and Cisco is going on company holiday until after January3rd 2012.
I will be taking time off myself to recharge after Christmas before heading off to National Retail Federation 2012 in New York.
I thought I’d wrap up the year with what I think retailers will need to be looking at in 2012.
The Five Areas I think retailers need to pay attention to going forward are:
For retailers, shrink is a significant issue impacting the bottom line, in some cases up to 2% of sales are lost to shrink up and it is a 107 billion dollars issue globally.
Shrink can come from many sources from theft, fraud or procedure errors, and loss prevention techniques is an ongoing subject of strong interest to retailers.
Today I talked to Rick Simon, Cisco retail technology partner manager working with partner Agilence about the National Retail Federation Loss Prevention Conference at the Gaylord Convention center in Dallas, TX June 13-15.
The exhibit hall for the conference is open June 13-14 and Agilence will be at booth #1601, demonstrating their point of sale video auditing solution on reducing shrink at the point of sale checkout.
Cisco will be the technology provider for the Agilence booth including video surveillance technologies, Cisco Cius and UCS Express. Instead of separate digital video recorder, router and servers in each store, Cisco will combine all the functionality in a single hardware platform combined with IP-based video camera technologies. This helps retailers reduce the technology complexity and costs in the stores which allows deployment of new capabilities in the future.
Qualified retailers can download a free expo pass form for NRF Loss Prevention Conference at www.cisco.com/go/retail and schedule meeting with Agilence and Cisco through their account managers.
Cisco partner Agilence develops Hawkeye, an industry leading POS video auditing solution that enables retailers to quickly identify losses caused by operational errors, promotion execution, systemic errors, and associate fraud. Hawkeye efficiently identifies store-wide losses at the point-of-sale before they can erode profit margins and provides retailers with a 6-to-1 ROI in less than 12 months. For more information please visit http://www.agilenceinc.com or Cisco point of sale video auditing solution web site.
As NRF wrapped up it’ s 100th annual convention in New York City, there was a lot of talk around the topic of how to “save the retail store.” Accelerating use of technology by consumers is shaping their behavior and expectations in store. These changes, in turn, are challenging the sales and margins of retailers.
To determine how retailers can embrace this “technology-shaped shoppers,” the Cisco Internet Business Solutions Group (IBSG) surveyed 1,000 shoppers from the United States and United Kingdom. It found that consumers want a new way to shop. This new shopping experience is called “mashops.” It combines web-like experiences with the shopping experience in stores, creating a “Mash up” of the physical and virtual worlds.
In addition, the research also revealed that retailers should pay attention to two key customer segments: calculating shoppers (56 percent of the general population) and extreme shoppers (11 percent of the general population, with a high representation from Generation Y). And while extreme shoppers receive the most attention, calculating shoppers have the greatest impact on retailers’ revenues and margins.