Technology

We've certainly read and heard a lot about data gathering lately, and the term "Big Data" is making its way into the public lexicon. One issue that's come up often is "Given what we've found out about what's being done by government agencies with available data, will we see a consumer backlash against giving retailers information? Will consumers batten down their privacy hatches?" I'm a firm believer that an educated consumer will make better decisions, and so I thought I'd spend a few hundred words giving you some correct definitions, followed by some realistic retail scenarios.

Imagine walking into Sephora and trying to remember that shade of Nars lipstick you bought a while ago but you just have no clue. So you pull out your smartphone and check the store's app for your past and favorite purchases to find out. Maybe you're in a hurry at Sears and want to skip the long line, so you whip out your smartphone and check yourself out. Retailers have long been aware that their smartphone-addicted customers are bringing the devices into their stores; now they're bringing more of their stores to our phones.

If you've purchased a car stereo or home stereo or are a fan of electronics, you've probably heard of Crutchfield. It's an audio specialty company whose business has been built around its catalog and, more importantly, its technical customer support. The company has been in business since 1974, and even with big-box retailers such as Best Buy and online behemoths like Amazon.com, Crutchfield still sells a lot of electronics — $250 million worth annually. So how does Crutchfield remain competitive in today's marketplace? Its secret hasn't changed much since 1974. The company still drives its business primarily through technical support skills. 

Historically, the payments ecosystem has been disjointed and time intensive, creating tremendous operational inefficiencies. With so much riding on payment performance, merchants are seeking simpler, streamlined payments solutions that can accommodate geographic growth and new demands to adapt quickly and seamlessly to the constantly evolving retail landscape.

I have a confession: I think I'm a believer in 3-D printing as a viable option for retailers. It wasn't until this past June, when I attended a session on the intersection of fashion and technology at CEWeek in New York City, that I became a convert. Prior to sitting in on that session at CEWeek, I knew little about 3-D printing — and what I thought I knew now seems out of touch with reality. 

3-D printing and what it means for the fashion and retail industries was the focus of a discussion that took place during the FashionWare at CEWeek in New York City yesterday.

Nordstrom Rack, Nordstrom's discount chain, will be expanding rapidly over the next two years. WWD reports that the retailer plans to add another 97 stores to its lineup by 2016, in places both predictable (Brooklyn, Chicago) and less predictible (Eugene, Ore.). And they're not going to be just some sloppy-seconds warehouses, either. The retailer is taking pains to "elevate the off-price shopping experience" by making customer service as important at Nordstrom Rack as it is at Nordstom proper. In addition to department store services, like on-site tailoring, Racks are being outfitted with iPod Touch checkout devices.

Saks Fifth Avenue is over halfway through a multiyear, multifront, multimillion dollar transformation into an omnichannel enterprise. The retailer has already deployed approximately 2,000 iPad tablets in its stores to facilitate associates’ communication and engagement with customers, and will be launching an e-commerce site for its OFF 5TH outlet banner this fall.

Shoppers at Rite Aid stores in New York and Los Angeles will get a dose of glasses-free, holographic 3-D videos and images, thanks to the pharmacy chain's multiyear agreement with Provision Interactive Technologies. Provision announced that 200 Rite Aid stores will deploy their proprietary 3-D Rewards Center kiosks. In addition to the 3-D holographic images that project in front of the screen, the kiosks feature 2-D interactive touchscreens that provide access to wellness information, Rite Aid promotions, rewards, coupons and product samples.

DSW continues to invest in IT, devoting 25 percent of its first quarter CapEx to enhancements in three areas, including supply chain, customer service and omnichannel. The retailer has also begun to reap the benefits of its size optimization system that was implemented in mid-2012, which will eventually allow it to be smarter in allocating sizes by store. Capital expenditures for the first quarter were relatively flat to last year at $19.8 million, of which $14 million was for opening and remodeling stores and the balance for IT projects.