With the new year comes new predictions for the market. For 2014, the buzzwords are centered on technology and a more integrated customer experience. From handheld point of sale options to better websites, retailers are focusing on consumer convenience and accessibility. As smartphones continue to become more intimately integrated with daily life, retail technology is essential both for online sales and storefront locations.

Consumers want a seamless experience, whether they shop online, at a store, or both. Businesses can gain a competitive advantage by making the shopping experience more integrated and more helpful for customers. "One of the key trends is more – and better – omnichannel integration," said UK Google Managing Director Dan Cobley in an article for Retail Week. "Done right, the combination of a store network and online is a winning formula that pure-plays can't match." 

The results of an omnichannel sales strategy were impressive for Finish Line in 2013. As reported in Internet Retailer, Finish Line's third quarter sales saw an increase of 22.9% to $364.5 million from $296.6 million. Chairman and CEO Glenn S. Lyon emphasized the company's strategic use of technology in the Finish Line Q3 2014 Earnings Call: "Our total performance is being fueled by effective digital initiatives that create increasingly more personalized consumer engagements through desktop computers, mobile phones, tablets and social media," he said. "Our objective isn't to dictate where customers shop; rather, make sure we are wherever they prefer to shop."

This entry was posted by Retail Pro on Monday, January 6th, 2014 at 10:35 am .