Retail stores no longer compete just with one another for geographically concentric consumer districts. They compete with endless aisles and endless comparisons of products and prices online. The result does not have to be declining brick and mortar store revenue, however, says Leo Suarez, Senior Vice President of Worldwide Marketing and Strategy for leading retail point of sale systems supplier Toshiba Global Commerce Solutions. Suarez says that the vast majority of consumers actually prefer the immediacy and sensory experience of brick and mortar shopping. By understanding the new mindset of the retail consumer and leveraging the product marketing technology available, retailers have the opportunity to create an omni-channel retail marketing system, right in store, that rivals or exceeds the efficacy and intimacy of online shopping. In this Moneyball for Marketing podcast, he explains how:
Omni-Channel Paradigm: The key to incorporating the flexibility and choice of online shopping in a brick and mortar product marketing environment, Leo says, is to “tie (together) all of the disparate marketing systems that they use to run a store—pricing systems, advertising systems, loyalty systems, couponing systems…(and) the website itself.”
Endless Aisle, in Store: Retailers can leverage concepts like in store kiosks, automatic price matching and distributed warehousing to combine the variety and value of online product marketing with the tactile advantages and immediacy of the in store experience. Leo shares examples.
Mobile in the Mix: Integrating mobile device usage with the in store retail experience is an opportunity to create a sense of intimacy in store, says Leo. Special pricing, special selection and a special connection that comes with understanding an individual shopper’s behavior make for a powerful marketing system. Leo details some of the technical challenges that retailers must overcome in order to embrace this product marketing opportunity.
Before joining Toshiba Global Commerce Solutions in 2012, Leo worked for IBM for nearly 33 years. He helped bring IBM’s first personal computers to market, he was part of the company’s first mobile computing team, and he was lead product architect of the team that defined, developed and launched the successful ThinkPad brand. He held multiple executive positions with worldwide responsibilities in PC, Servers, High Performance Computing, and Retail Systems. In 2012, Leo joined Toshiba Global Commerce Solution in his current position as the Senior Vice President for Marketing and Strategy. Leo holds a Bachelor’s and Masters degree in Electrical Engineering, and has earned several patents in the areas of power management, energy management, and industrial design during his career.
Toshiba Global Commerce Solutions is retail’s first choice for integrated in-store solutions. The leading supplier of point-of-sale systems with a worldwide install base larger than the next three major competitors combined. Toshiba is committed to delivering innovative commerce solutions that transform checkout, provide seamless consumer interactions and optimize retail operations. With a global team of dedicated business partners, Toshiba provides end-to-end solutions, services and support that help clients meet virtually any retail technology need.
Winner of International Design Awards in 2013, 2012, 2011 and 2010.
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Glenn Gow is an expert in marketing performance, Coach, Board Advisor, Author, Speaker, Podcast Host and Founder & Advisor of Crimson Marketing. Follow me on Twitter, LinkedIn, Google+. To get a free copy of Crimson’s One-Page Marketing Metrics Funnel, visit here.