Last year, more than 2,000 High Street shops in the UK closed for good, according to international audit firm Mazars. Many brands have already announced planned store closures for 2024, with experts warning that that the market will “continue to see an uptick in insolvencies”.
According to figures from Centre of Retail Research, over 400 job roles have already been impacted by retailers closing their doors in light of the cost-of-living crisis and financial strain placed on their businesses.
It’s clear that retailers need to use every weapon in their arsenal to try and survive this challenging economy. Against this backdrop, winning the attention of customers has never been more important.
We caught up with Richard Aspinall, SVP Northern Europe at GTT to find out why he believes modern technologies – and connectivity – could play a key role in helping retailers to do this.…
Q. Why are retailers turning to modern technologies to improve the customer experience?
In the last couple of decades, the retail landscape has totally shifted. Long gone are the days of quickly ‘popping to the shop’. Today’s consumer expects an experience, whether online or in-store.
From an online store presence to a simplified check-out process using in-store mobile point-of-sales devices, retailers need to invest in new ways to keep customers happy and engaged. This is where modern technologies come in.
Modern technologies can be used in multiple ways to improve the shopping experience – whether it’s incorporating the use of VR codes and automated checkouts in store or hyper-personalisation and smart shopping baskets online. However, most importantly, modern technologies can help retailers to ensure that they are developing an omnichannel retail strategy that brings together both the online and in-store experience.
Providing an all-encompassing omnichannel customer experience for shoppers has never been more important. In fact, according to recent research from Momentive 56% of adults prefer to shop both online and in-store, and 88% say it’s important for a business to have both types of purchase options. It’s hardly surprising that 99% of retail execs predict a surge of technology investments to happen this year, with SoftServe, a global tech company that provides digital services and consulting, finding that companies are planning to invest in mobile applications, enhanced security and fraud prevention, machine learning and GenAI to improve customer engagement.
Q. When it comes to creating an omnichannel experience, what role does connectivity play?
To ensure that they can truly engage with customers through multiple, integrated touchpoints, both online and in-store, retailers must invest in advanced networking solutions, such as SD-WAN and Security services. This helps to ensure that any modern technologies they invest in can work securely and harmoniously.
Global networking solutions which connect branches, regional offices, headquarters, third-party partners, distribution centres, and data centres are essential. These form the backbone of any other technological advancement that retailers might choose to undertake. According to Gartner, these solutions are also known as next-generation networks. This is the evolution of fixed and mobile network infrastructures (wireless) from distinct, proprietary networks to converged networks based on Internet Protocol (IP). Simply put, next-generation networks allow the network to work for the customer instead of the customer working for the network.
Retailers need reliable, resilient, secure, high-capacity connectivity coupled with software defined and cloud services such as a Software-Defined Wide-Area Network (SD-WAN) and Secure Service Edge (SSE) that offer a centralised way for them to protect their shopper’s personal information, whilst managing network connectivity across a wide area with multiple locations. It is only then that tailored, relevant communications can be delivered to the right user at the right time for a great service experience that will drive engagement and conversion.
Q. You mentioned protecting personal information – why is it important for retailers to ensure that they’re not prioritising the customer experience, at the expense of securing customer data?
All this connectivity and improved experience is great for both shopper and retailer. However, it is critical that when retailers capture shoppers’ personal information via their website, mobile splash pages or point-of-sale systems, they have a clear understanding that they have a duty to secure their shoppers personal information by having effective cybersecurity strategies and technologies in place, including managed firewall, DDoS mitigation, secure web gateway and a managed detection and response just to name a few as part of a layered solutions security plan.
The retailer is responsible for protecting users on its network in a way they’ve never had to in the past. But this can be complex, and many retailers do not have the skills that they need to do so in house. This is when partners – especially in the form of Managed Service Providers (MSPs) – can become an essential piece of the puzzle.
Q. Outside of the security issue, why should retailers consider working with a Managed ServiceProvider?
While retailers recognise the importance and value of the omnichannel experience, most companies do not have the IT personnel, bandwidth, or in-store subject matter expertise to ensure the technology investment they make is working for them. That’s why many retailers are choosing to outsource this responsibility to an expert, to manage and monitor their next-generation networks to ensure they:
Meet the needs of their employees and customers.
Stay up to date with security, enhancements, software updates and patches.
Meet regulatory and compliance requirements.
Be able to focus on their core business and strategy.
With their agility, expertise, and commitment to staying at the forefront of the omnichannel evolution, MSPs are vital in helping retailers maintain a competitive advantage by building and delivering adaptable, resilient, and effective secure network strategies in an increasingly complex and ever-evolving digital and physical world. The MSP can play a vital role in helping retailers to meet their corporate mission, through addressing technology, network and security challenges.
With an MSP as a strategic partner, retail organisations can safeguard the continuity of their operations, gain a competitive edge, and maintain the trust and loyalty of their customers at a time when digital and physical assets are essential.
Photo by ThisisEngineering on Unsplash
