MONEY


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REPORT FINDS M-COMMERCE GROWTH SOARING


mobile channels, totalling an approximate turnover of £45 billion in 2011. The report reveals that, despite the recent return to recession, m-commerce is expected to play an increasing role in achieving average expected revenue growth of 10% in the year ahead, among 87% of retailers. More than three quarters (80%) now have a mobile optimised e-commerce site or smartphone app, or plan to build one. And this group expects m-commerce revenues to increase by nearly a quarter (23%) in the next year. Based on the proportions of retailers using m-commerce and the proportion of revenues derived from it, total turnover from m-commerce is predicted to increase to £56bn over the next year. While just over half (56%) of retailers view new sales channels as a main driver of business growth over the coming year, 52% view competitors’ m-commerce apps and


N


ew research has found that nearly £1 in every £10 spent with UK High Street retailers comes from


sites as a threat to their sales. Retailers also have their eyes on social media, with two- thirds (65%) expecting sales from social media venues to become an important consideration over the next 12 months. Based on economic models provided


by the Centre for Economics and Business Research (CEBR) and a survey of 200 UK High Street retail managers, including seven of the top 10 retailers in the country, the research was conducted by Vanson Bourne and sponsored by cloud-based financials, commerce and enterprise resource planning (ERP) software provider NetSuite. Andy Lloyd, NetSuite general manager of commerce products, told Retail Technology said the proliferation of smartphones and tablet computers is rapidly transforming consumers’ shopping behaviour and, hot on the heels of e-commerce, retailers must get to get to grips with m-commerce to keep up. He called on retailers to look again at


how existing retail management systems that have grown in silos can hamper their


ability to capitalise on emerging trends like m-commerce. “Many retailers got their e-commerce piece done but, with m-commerce right on its heels, they are faced with then buying and integrating another entire new platform,” he said. “The challenge for retailers is to


integrate the mobile channel without incurring huge costs or complexity, so they need a single solution, which can manage all transactions and associated customer interactions with consumers and other businesses on multiple touchpoints, whether this is the website, mobile device, social media or in the store.” Colin Edwards, economist at CEBR,


added: “In the context of a difficult macroeconomic climate, retailers’ expectations seem very positive and may ultimately prove to be somewhat optimistic. But it’s clear that the importance of alternate revenue streams such as m-commerce can be a crucial component for retail success moving forward.”


AURORA ADDS INSTORE IPAD FINANCE SYSTEM


Aurora Group has become the first UK fashion retail brand owner to integrate the Ikano Financial Services finance application system onto instore Apple iPads to enable customers to apply for branded store cards. Karen Millen, Oasis and Warehouse customers will still be able to apply for store cards via handwritten application forms and call the Ikano customer contact centre. But the new secure iPad system, called iFinance, will streamline the process, making it quicker and easier for customers and store teams. “iFinance has received positive feedback from our customers and store teams,


as it’s much quicker and a more customer-friendly process,” said Ishan Patel, Aurora Group omnichannel director. “This is another example of where Aurora has focused on improving the end-to-end customer experience instore, which in turn helps us to deliver improvements to our retail sales.” The system allows customers to buy instore immediately if their application is accepted. And Ikano said it plans to add other multichannel retailing tools to iFinance in the next 12 months, with the next being a smartphone loyalty app.


SEPTEMBER/OCTOBER 2012 RETAIL TECHNOLOGY


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