What a terrible few weeks it’s been on the high street. Comet sold for £2 and Blacks, Past Times and Peacocks all on the books of the administrators. Sure, even in the good times there were retail failures but it does seem that we’re looking at a high street that’s fundamentally changing and increasingly losing out to online only players in certain core segments.
Could technology at least go some of the way to help the high street fight back? Here’s three that might:
Contactless payments: just this week Waitrose announced that following successful trials it is rolling out contactless payments to all its stores. This allows payments of £15 or under to take place without the need for a PIN. Just tap on the terminal and you’re off. I tried it at Tesco today, not only does it have good novelty value but it does impact on queuing times, making the whole process slightly more ‘fun’ (to the nerd in me anyway!) quicker and convenient.
Mobile payments – these come in many forms, most people immediately think of near field communications (NFC), which is the same as above but the NFC chip is in your phone, not your card. That’s a little way off in the UK although it’s taking off in other countries (take a look at this excellent BBC Click piece). What is here and now is mobile app based solutions which enable customers to buy and pay for products on the move. One of my clients, Mobile Money Network is already doing this for retailers including Carphone Warehouse, Thorntons, Goldsmiths and the Liam Gallagher fashion chain Pretty Green. It gives these retailers more options to reach customers and promises in store marketing and ‘off the page’ sales opportunities to come.
In store WiFi – by this I don’t mean setting up a router like you would at home, retail grade WiFi is about offering customers high speed connectivity whilst engaging them in store via carefully targeted promotions and info as they move around the store. As well as immediate sales opportunities retailers can also use the analytics generated from the WiFi solution to understand their customers better – how long do they spend in store, what aisles are popular, are they finding it easy to find stuff? Ultimately it should mean a better experience for both customer and retailer. Wicoms is one such company that’s already offering retailers solutions in this space.
Whilst there’s no silver bullet a combination of any or all of above could make a big difference in terms of new opportunities to sell, boosting efficiency and finding out more about their customer base.














