Perspective: The Future of Retail is Going Beyond the Transaction
In the current issue of Technology Forecast, PwC published an interview with Dom Morea, our senior vice president of Advanced Solutions and Innovation. In the interview, Dom explains how the future of the retail industry is going beyond the transaction. Here’s an excerpt from the interview.
PwC: It seems that the consumer experience is fragmented across devices, online or offline channels, and so on. How much of a concern and problem is this?
Dom: Fragmentation of the experience is a significant challenge, and we need to address that. If the multichannel experience is not fluid, I think it’s not useful. And by the way, this fragmentation is not just in the shopping experience. It is across the full lifestyle. We are seeing progress today where sessions and data captured on one device can be seamlessly accessed on a different device to continue the experience. So if I’m shopping at home on a connected device—say a wired device—and I didn’t finish what I started, but now I’m at work or I’m out and about with a tablet, I can continue from where I was and then maybe even take that into the store.
The ability to do something online and then be able to carry that experience to the physical store is really important. Take couponing, for example. As you know, consumers love coupons, daily deals, and other discount offers, and merchants rely on them to attract new customers and return visits from existing customers. However, redemption of these offers is usually paper based—a cumbersome and inconvenient process for both the consumers and merchants.
Our OfferWise solution simplifies offer redemption and makes it seamless, by letting consumers link their discounts to a payment card or mobile wallet and redeem them automatically at a participating merchant’s point of sale. Merchants can take advantage of this solution with no changes to their points of sale, operations, or infrastructure— and more than 500,000 merchants can accept these card-linked redemptions.
This capability is valuable, because it removes the clunky nature of paper. It delivers real value to consumers, who now don’t need to clip coupons or print out paper that proves they bought a deal, registered for a loyalty program, or have a certain number of reward points.
Read the interview in its entirety here: http://www.pwc.com/en_US/us/technology-forecast/2013/issue1/interviews/interview-dominic-morea-first-data.jhtml