This was the year of reinvention. The way we lived, worked, interacted and shopped changed dramatically. The retail industry was one of the most affected with closures, re-openings and consumers who were looking for safer ways to accomplish their daily tasks.
That meant rethinking the entire retail experience on the fly. The nimblest retailers were able to act quickly and turn challenges into opportunities and create a path forward into a world that will be forever reshaped. With the advent of home deliveries, contactless transactions and curbside pickups, consumer expectations will never be the same.
Throughout the year, Diebold Nixdorf has partnered with our customers to help redefine their experiences and quickly adapt to the rapidly changing needs of consumers. As you think about the present and future of your retail business, we’ve compiled a list of popular and useful content to help you on your path to reinvention.
Diebold Nixdorf’s Top 10 Retail Insights of 2020
1. Retail’s Flexibility in Responding to the Current Pandemic
Consumer centricity, store digitization, high connectivity and store service are all critical pieces of Storevolution™, an approach to support retailers in managing the continuous process of change. Learn more about these foundational practices, as well as mapping your consumer journey to provide a seamless experience across touchpoints.
2. Facing the “New Normal” in Retail: Manage Consumer Traffic to Improve Business and Ensure Social Distancing
The need for social distancing has changed the way retailers staff their stores. Many have taken action by assigning a staff member to new, safety-related tasks, such as assigning “counters” at store entrances to track the number of people going in and out so that proper distancing can be maintained. In this blog, we cover how to automate this process to free up staff so they can focus on customer service and other activities, as well as provide you with helpful analytics on store traffic.
3. The Future of Loyalty in Fuel Retail: Moving from Transactional to Emotional Engagement
Now more than ever, building loyalty with consumers is more important than ever. When compared to transactional loyalty, emotional loyalty entails a deeper level of commitment to the brand because the emotional tie goes beyond economic incentives. The key features of emotional loyalty involve engaging with consumers through rewards that surprise and delight, running exclusive loyalty programs, and utilizing data to create highly personalized offerings. Learn more about consumer loyalty and how you can engage with your consumers in meaningful ways to enhance repeat purchasing and retention.
4. Storevolution Applied in Real Life
This blog takes a deeper dive into Storevolution, providing a real-world example of how a major retailer did away with barcodes and saved millions through remote and proactive maintenance. Check out how IKEA combined consumer centricity, store digitization, high connectivity and store service to enhance service and efficiencies.
5. Retail in Uncharted Territory
With the challenges that were brought on by the pandemic, how are retailers adapting? Many are focused on building customer loyalty, digital transformation, minimizing human-to-human interactions and re-mapping their customer journeys. See how other companies are adapting, and best practices for reinventing the retail experience to meet consumers where they are with what they need.
6. Case Study: Mobile Self-Scanning Drives an Enhanced Consumer Experience at Germany’s Largest Supermarket Corporation
Self-scanning is gaining ground rapidly in Germany, with the number of supermarkets introducing self-scanning solutions growing at a rate of more than 50% since 2015. Edeka WEZ, part of the Edeka group, has long been an early adopter of supermarket innovation in the quest to offer its customers more convenience, shorter checkout lines and improved service. Watch a video on how Edeka and Diebold Nixdorf collaborated to stay ahead of trends to deliver the experience consumers desire.
7. Relevant Retail—the New Norm
Consumers want faster, more convenient and highly personalized shopping experiences. They want to control how they shop and to be able to seamlessly cross over between mobile and brick and mortar. In this blog we talk about delivering content in “surround sound” that is designed to be hyper personal, providing consumers with an empowering, journey-based experience.
8. Preparing for the Post-Pandemic Environment Will Test Retailers’ Flexibility
Retailers preparing to adjust to new customer expectations must establish flexible channels throughout their stores — from back-end operations to front-end processes and procedures. They must anticipate and adapt to new customer needs as quickly as they arise. Gain insights into the importance of digitization as retailers must remain adaptable and flexible throughout the pandemic and beyond.
9. The Importance of Openness in the Future of Retail
While no business is “future-proof,” retailers can take steps to become future-ready. One of the most critical steps is adopting flexible technology systems that enable retailers to adapt quickly to change – whether due to an unexpected crisis like a global pandemic, or to ongoing subtle shifts in customers’ expectations. Explore how open, adaptable digital infrastructures will give you the flexibility you need to pivot with the times.
10. The Guiding Principle Your Retail Organization Needs During and After COVID-19
No one could have predicted a situation of lockdowns on a global scale, impacting billions of people in their daily lives. Yet, it raises the question: How can we anticipate these types of events? How can we formulate a strategy in the face of uncertainty? Or, as Harvard Business Review put it, “How can we learn from the future?” See the one principle that retailers can’t live without.
This year has been defined by change and adaptability for retailers, and Diebold Nixdorf is helping to facilitate that change with point-of-sale solutions, self-service retail solutions, mobile to brick-and-mortar solutions and digital infrastructures that solve the challenges of today – and those yet to come.
To get started, we invite you to download a complimentary copy Forrester 2021 Predictions: Banking report now.
Stay tuned for more insights and success stories from us in 2021.