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Monday, 30 November 2015

Pop-Up Retail: Understanding the value of opportunities

The impressive growth of pop-up retail can be seen in the fact that it was a zero dollar industry in 2003 but flourished into an 8 billion dollar industry in 2013. Pop-up continues to drive innovation and offer several strategic opportunities thus adding a new dimension to retail.

Some of the strategic opportunities presented by pop-up retail:
1. Retailers can target a niche audience.
2. Chance to experiment with an economic alternative to full-scale retail set-up.
3. Allow retailers to test new products, concepts, and markets.
4. Derive valuable consumer insights economically and with minimum inventory.
5. Retailers can create buzz and imprint their products on the customers’ minds.
6. Tap into “massclusivity” and stimulate consumer curiosity with elements of surprise and urgency.
7. Clear old inventory and stock.
8. Aggressively promote merchandise around a finite duration of time such as season, festival or holiday.
9. Create a learning center for customer

Retailers have been quick to explore the popup retailing concept:
- In 2003, Target pioneered the pop-up model with a 1,500 sq.ft. store in New York City that for showcasing designer Isaac Mizrahi’s women’s clothing over five weeks.
- Nike created a Runner’s Lounge in Vancouver with free massages, snacks, drinks, and the opportunity to test their new line of shoes designed exclusively for running.
- Collaborating with global brands – Adidas, Levi’s and Sony Ericsson, MTV promoted limited edition apparel and high-tech electronics by setting up pop-up stores in German cities for a week at a time.
- Exploring the idea of a traveling pop-up store, Gap fashioned a school bus with 60’s themed apparel and accessories.
- E-commerce retailer, Bluefly.com opened a brick-and-mortar store in New York to unload slow-moving stock in a temporary boutique.

To set-up a successfully running pop-up store or site, retailers need to employ the right pop-up technology. Web-based point-of-sale (POS) and mobile point-of-sale (mPOS) integrated with customer data and inventory management tools using the right retail software will enable the pop-up store staff or self-serve kiosks to answer customer queries and access real-time information about product availability and provide superior customer experience. Retailers must ensure strong security measures at the pop-up locations for protecting transaction data going across the network while providing connectivity.

Monday, 23 November 2015

Retail Insights (Infographic)

The retailers that will move ahead of the pack in the coming year are those that can deliver a consistent, clear, clean, simplified, and seamless message across all channels.

Retail Insights Infographic

Retailers looking into the future can be sure that no matter what trends and technologies are coming, an omni-channel strategy that is propelled by data and streamlined by automation will lead the way. Keep an open mind about innovations in omni-channel technologies in the future.

Monday, 16 November 2015

Team ETP shares its domain expertise and builds valuable partnerships

ETP has, over the years, participated extensively at industry events and trade shows focused on retail technology solutions. At these events, ETP has been constantly building long-term partnerships with market leaders, customers and prospects in the retail space. Through its various engagements at retail and technology events, ETP has been sharing its invaluable domain expertise acquired over more than 25 years of being associated with the retail industry across the Asia-Pacific, India and the Middle East.

With the fourth largest population in the world and a booming economy that is spurred by a growing number of millennial smartphone users (i.e., in the age group of 18 to 30 years) connected to the Internet, Indonesia is fast approaching a “big bang” for ecommerce in terms of scale and profitability. ETP was the Main Sponsor at the recently concluded Customer 360 – from offline to online – How to get your company ready  event held in Jakarta, Indonesia on 27th October 2015. At the event, the ETP team interacted with leading Indonesian retailers from different verticals such as PT. Mitra Adiperkasa (MAP), Everbest, Lee Cooper Indonesia, Depo Bangunan, Pasaraya, Kawan Lama, Electrolux, CODE inc., Trikomsel and many more, to share and understand perspectives on how to navigate the dynamic demographics where online and offline merge in retail and how retailers can gain from the benefits that e-commerce offers in the ‘brick-and-mortal’ retail world. 

Naresh Ahuja, Chairman & CEO, ETP Group, presented his views on the emerging retail technology for retailers to activate seamless operations that control all the customer touch-points and enhance the omni-channel brand experience.

ETP booth at Customer 360 event
Naresh Ahuja (centre), Chariman & CEO ETP Group with Arun Samak, CIO, PT. Mitra
Adiperkasa (MAP) and David Irawan, CIO, B&B Incorporated

ETP participated at the 17th Asia Pacific Retailers Convention & Exhibition held from 28th-30th October 2015 at the impressive Mall of Asia Complex, Pasay City in the Philippines. The team successfully networked with several leading retailers from Indonesia, Malaysia and the Philippines such as APRINDO, Primer Group, Rustan’s Group, PowerMAC, BLIMS Fine Furniture, Watch Republic and many more, to exchange their thoughts and learnings on how omni-channel retailing is disrupting the world of retail and on the new business models, strategies and technologies necessary for expanding retail business in Asia and in the global market.

ETP at the 17th Asia Pacific Retailers Convention & Exhibition, The Philippines

ETP also attended the Middle East Retail Forum and the InRetail Summit events held in Dubai, U.A.E. from 27th-28th October and from 14th-15th September 2015, respectively. Both these events brought together the who’s who of retail in the Middle East. Discussions and networking sessions at the events showcased the trends and opportunities that are making the Middle East an attractive marketplace for leading retailers across the globe, the retail dynamics in the GCC, customer centricity and omni-channel retail. The ETP team wrested optimum leverage of the opportunities that the events provided to strengthen its existing relationships with leading retailers from the region and build new ones.

At the India Retail Forum held in Mumbai, India on 15th-16th September 2015 that witnessed a gathering of more than 700 of the region’s sharpest minds in retail and retail realty businesses, ETP’s team of domain experts connected, collaborated and created outstanding concepts for harnessing the future of retail in the omni-channel era and building the roadmap for customer centric retail organizations through technological innovations that enable the modern retailers to delve deep into the consumers’ minds and offer them a hassle free, grand, unified shopping experience across the ‘phygital’ retail landscape.

ETP was the Technology Insights Partner at the South East Asian Retail Innovation & Technology Summit  held in Jakarta, Indonesia on 16th-17th October 2015. At the event, esteemed speakers and delegates from retail, realty, technology and finance businesses shared their experiences and knowledge on investment opportunities, channel strategies, product marketing, supply chain and technology innovations for the mobile-first generation.

Varun Suri, Program Manager, ETP Group speaking at the event

Varun Suri, Program Manager, ETP Group, presented his views on Business and IT Innovations Asian Leadership – Focusing on Demand Chain Management. He emphasized on the importance of customer-driven operations rather than supplier-driven operations. Consumers do not wish to spend precious time in deciphering complex promotions or applications, they would rather pay more and be instantly gratified. Ease and simplicity needs to be permeated in every retail process to deliver on customer expectations.