RETHINK Retail’s Solution Spotlight shines a light on industry vendors and what makes them distinct.
This vendor spotlight is on Samsung. Samsung, leads the global market in high-tech electronics manufacturing and digital media.
Through innovative, reliable products and services; talented people; a responsible approach to business and global citizenship; and collaboration with partners and customers, Samsung is taking the world in imaginative new directions.
To learn more about Samsung, visit: https://www.samsung.com/us/
When we engage with retailers, we find out that they’re typically spending money where they’ve spent money over the past couple of years. The associate productivity has leapfrogged and is now in second place for investment at retailers, as they try to solve problems associated with the associate journey. We’ve been obsessed with customer journey for years now, and now the spotlight’s being shifted over to associates. So tools that help them be more productive faster in those environments are really top of mind for retailers we’re engaging with. Finally contactless payments are gaining traction in the United States. So we’ve seen them double year over year. And while that sounds impressive, when you’re only in one or 2% of the transactions and you move up to 4%, it’s not that big of a jump, but 2022 looks to be maybe 18 to 20% of transactions will be contactless, and if that continues to double, that will soon be the dominant payment form in the States.
And that’s great for those of us in the mobile industry because a lot of our phones are equipped with the technology to take mobile payments right out of the box. So now if you take this idea of connecting associates and giving them productivity tools and the ability to take a contactless payment, put them together, now shoppers can meet customers in the aisle and help them out right then and there. And this tends to eliminate, or potentially could eliminate, one of the biggest friction points in both the associate journey and the customer journey, which is the checkout process. So I’m really excited about where we’re headed with this.
The last part of it is as we continue this idea of equipping associates with mobile devices, it’s becoming more and more important that those devices function out of the box to solve those problems. So, in tandem with the rising contactless payments, we’re also seeing a massive adoption in computer-based scanning technologies. As this computer-based scanning technology gets adopted, it can capture more and more barcodes at once. So go back to this whole idea of making those associates more effective and efficient in their jobs. Instead of having you scan code by code by code, you can capture an entire shelf. It’s going to be amazing when we start seeing this proliferate in retail.
I lead the B2B display for the retail market for the U.S. market. B2B display also encompass our hosted solutions, software and analytics with different partners. Really, I think what our B2B display’s about is driving transactions back to brick and mortar. So really understanding those habits at home, which Samsung can do through Samsung ads, and really help our B2B Enterprise clients provide advertising or putting messages at the right time at the right place. And then really understanding what happens in store.
So part of that social commerce, we really can understand with our analytics in store. Are we seeing an uptick? Are we driving people to the right place inside of the store? And digital signage is allowing them to shop freely and move around and redirect them in the physical environment. And we do know the trend is, if we get someone to stay three to four minutes longer than the average stay, the buy cycle goes up and really they buy more while they’re on site.
I think the important trends for 2022 really can be encompassed in these categories. Number one, social commerce. What’s happening on social is impacting in store and what we’re doing from the display to really help that out. Automation and reducing friction. Obviously, there’s a mobile piece that Joe talked about earlier, but there’s also a display piece that we can automatically change content. Understanding ROI and digital signage, what’s happening in the physical environment and then taking the customers through that journey without them touching content or doing anything that changes automatically. Here’s an important thing that where our clients are seeing. Our hosted solution platform has grown dramatically over the last two years because the ease of the use. Our mobility products work with our display and what we’re challenging people is think of your physical store like a website and the banner ad is the front to your store with great digital, either with an EV charging station or outdoor LED.
And what are we doing to drive traffic into your store, get them to go different places inside of the physical footprint, understanding what’s happening, why they’re there and then changing those behaviors and then monetizing them. And I think one thing that we’re seeing from this technology lift is we have net promoter score, but we also have employee net promoter score. When you have great technologies that employees like to work and live in an environment, they like the same technologies they have at home in store to work with. And what we’re seeing is an employee satisfaction. So what we’re seeing is this technology lift really is benefitting the consumer, the corporation, and also the employee.