Unlike many other technologies, retailers are adopting big data at a higher rate than their usual drag-feet adoption tendencies in the past. This is likely due to the fact that price pressures remain high and margins are increasingly pushed low. Indeed, if I'm surprised at anything in this report it is that big data's use in pricing was not pulled out specifically.
U.S. Attorney General Eric Holder wants the nation's retailers to be more accountable for security breach reponse, and has called for new legislation that would mandate consumer alerts when systems are compromised.
Quick rundowns on the latest mobile IT for Friday, 2/14 including: why retailers are making a fuss over the acquisition of mobile startups, heart-rate monitors and sports devices will continue to run the wearables market, why the creator of Flappy Bird has retired his wings and his addictive game, who Verizon is targeting with its M2M initiatives and what the expected legalization of mobile gambling in U.S. states will do for the industry.
More than half of retailers said mobile efforts are a top priority, identifying responsive design, mobile site optimization, and tablet redesign as focus areas, according to a survey of 70 retailers by Shop.org and Forrester Research.
Retailing has operated in pretty much the same way since shopkeepers figured out how to leverage in-store credit, point of purchase displays, endcaps, and loss leaders. But now big data is pulverizing the traditional retail model, particularly in big box stores. Competitors who don't use big data are left to deal with the dust and rubble as best they can.
It's no secret that retailers are using cameras to track how long customers look at specific merchandise and in-store displays and signage. It's also widely known that some retailers track shopper behavior in-store via shoppers' cell phones. Shoppers do not take kindly to such spying but they are doubly upset with the emerging practice of retailers studying their person and not just their shopping behaviors.
More than a billion users will be buying physical goods and services using their mobile phones by 2016, forecasts research firm Informa Telecoms & Media.
Mobile point-of-sale systems will fuel a healthy 6.6 percent compound annual growth rate in electronic funds POS terminal revenues, which will reach $3.51 billion in 2017, according to the latest report from Frost & Sullivan.