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Retailers to focus efforts on ecommerce in 2012

February 20, 2012

A study by the National Retail Federation (NRF) and KPMG reveals that for the first time, retailers are more concerned with improving online offerings than those in physical stores.

A study by the National Retail Federation (NRF) and KPMG reveals that for the first time, retailers are more concerned with improving online offerings than those in physical stores. The report, called “Retail Horizons: Benchmarks for 2011, Forecasts for 2012,” surveyed 247 executives across retail sectors to better understand retail strategies.

To meet the needs of technology-savvy consumers, merchants can implement retail technoloy, such as mobile payment terminals to enhance in-store offerings. Findings from the study show that 17 percent have already outfitted stores with mobile credit card processing technology and 33 percent plan to invest in an updated credit card terminal within the next year and a half.

“Though customers are always a company’s top priority, customer satisfaction will get a huge facelift this year. From increasing their brand visibility through cross-channel initiatives to providing unique, personalized shopping experiences through every channel, retailers have indicated 2012 is all about the customer,” NRF president and CEO Matthew Shay said in the report.

As ecommerce continues to grow and consumers turn to online shopping for price comparisons and product information, businesses can focus on price optimization as a way to stay competitive. At least 35 percent of merchants surveyed said that solidifying price optimization technology would be a focus throughout the coming year.

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