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Interview disproportionate. One of the reasons why retail media dollars are not flowing into stores is the difficulty of measuring engagement. Hence, for brands trying to quantify return on investment( ROI), the store environment can feel like a black hole. To solve this, we empower retailers to truly connect with shoppers in-store, when they are most likely to buy something, in a way that allows them to measure engagement and ROI. Our Turnkey Media platform brings all these capabilities under one umbrella, so retailers do not need to patch together a solution. Every retailer we have worked with has found it challenging to manage technology at the store level, make it consistent across all their locations, and coordinate multiple vendors. Through Turnkey Media, we consolidate all of that into one program, which is the key to reaching shoppers at the exact moment they are ready to purchase,” he enlightens.
Amidst growing consumer demand for sustainable solutions and operations, retailers must prioritize clear communication and transparency. Carl shares his opinion on how retailers can continue to appeal to environmentally conscious customers by taking a proactive approach to sustainability.“ In addition to offering sustainable products, retailers need to prove to consumers that they are operating sustainably in as many areas of their business as possible. Customers are interested in more than products made from recycled material; they expect transparency about a retailer’ s broader environmental efforts. Ricoh is a leader in sustainability, and stands among the few companies recognized in this space. Consequently, retailers who partner with us inherently benefit from our sustainable practices.
“ Many of the digital transformation and process automation solutions we are deploying further support sustainability for retailers by reducing their energy consumption, paper usage, and overall resource demands. True sustainability is about doing the right thing as a company, even when these efforts are not immediately visible to shoppers. It requires continuous improvement across all areas of the business. For environmentally conscious customers, providing visibility into these behind-the-scenes efforts towards achieving sustainability remains equally important,” Carl analyzes.
As we approach the end of our discussion, Carl seizes this opportunity to outline his vision for the future of retail and what lies ahead for the industry.“ In the US retail market, there has been an increasingly evident focus on omnichannel and e-commerce strategies. But in truth, most retailers are struggling to turn a profit in e-commerce. This is because the vast majority of shoppers still prefer to purchase in person, as they enjoy being able to see and touch products before deciding to buy them. While some predicted the death of brick-andmortar retail a few years ago, these forecasts have proven false. On the contrary, brick and mortar retailers are thriving and are likely here to stay forever. As social beings, we inherently value human interaction, which explains our enduring preference for in-store shopping.
“ I believe that the future of retail lies in making the physical shopping experience more desirable by creating a more engaging and entertaining in-store experience while incorporating the flexibility of smart digital conveniences like click and collect. Blending these two approaches will be key to success in a retail environment. Overall, I expect that in the future, brick-and-mortar will continue to thrive, and digital tools will become smarter; not just through technological advances, but because they will be more intelligently deployed in the retail sector,” he concludes. ■
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