The current wave of information systems (IS) has transformed how retailers serve their customers. Giant companies such as Starbucks Incorporation are using powerful loyalty programs to offer convenient retail processes to their clients (Turban, Volonino, & Wood, 2015). Kohl’s Corporation has also implemented a similar IS program to empower its customers.
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Attracting and Retaining Customers
It is agreeable that Kohl’s is using the approach to attract, empower, and retain customers. The firm focuses on what every consumer wants. With more people preferring to shop easily and conveniently, Khol’s finds it easier to attract more people using the IS retail program. Customers can purchase clothes, kitchenware, and appliances. The security associated with the program continues to increase the confidence of the targeted clients. The initiative also attracts more clients because it encourages them to pay seamlessly. Additionally, customers can manage their accounts, receipts, payments, cards, and coupons in a convenient manner (Turban et al., 2015).
The strategy continues to retain more customers because of the convenience associated with it. More customers have found it easier to purchase various goods much faster. The simplification of the retail process is another reason why the approach has retained more customers (Turban et al., 2015). The comfort, ease, convenience, and security will, therefore, encourage more people to embrace this new technology in the future.
Benefits of the Above Information Solutions for Customers and Retailers
Mobile payment solutions are beneficial to both the retailer and the customer. The first benefit is that of security. Both customers and retailers and handle transactions securely. This process minimizes cases of theft or loss. The issue of accuracy is also associated with mobile payments. This means that the chances of errors are minimized significantly. The simplification of the retail process makes it easier for customers to purchase a wide range of products simultaneously (Turban et al., 2015). At the same time, the retailer finds it easier to handle many transactions. This practice can maximize the sales recorded by the retailer.
The consumer can use the mobile platform to manage his or her accounts and receipts. Retailers can use the system to monitor the purchasing behaviors of the customers. This knowledge will ensure the right goods and services are available to the targeted clients. The IS platform can make it easier for Kohl’s to offer evidence-based solutions to the challenges affecting their customers (Turban et al., 2015). This positive practice will result in consumer retention.
Potential Issues and Drawbacks
The mobile payment technology is transforming the retailing process throughout the globe. Unfortunately, mobile platforms can be insecure and susceptible to hacking. The technology requires maximum security measures to work optimally. This means that more retailers such as Khol’s will have to incur more expenses in an attempt to make such systems secure. Any malicious infiltration can affect the system’s integrity (Turban et al., 2015). Additionally, customers who do not appreciate the technology will be lost to other competitors.
Since technology is an ever-changing invention, more platforms are emerging in an attempt to improve the experience of the consumer. Social networks are currently being used for chatting and communication. Several companies such as Facebook and Twitter are planning to introduce a “buy button” for their users. The users will buy various products from their favorite marketers (Oni, Shumba, & Matiza, 2014). The other new technology under experimentation is known as “visual product search”. This feature will make it easier for shoppers to take images of certain products and find similar matches from specific stores.
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Oni, O., Shumba, P., & Matiza, T. (2014). The impact of social media-based marketing on the turnover of retailers based in Polokwane, South Africa. Mediterranean Journal of Social Sciences, 5(9), 307-316.
Turban, E., Volonino, L., & Wood, G. (2015). Information technology for management: Digital strategies for insight, action, and sustainable performance. Hoboken, NJ: John Wiley & Sons.