Reinhard Rabenstein, CTOWhen the gung-ho about online shopping started to catch fire, brick-and-mortar stores suffered a severe jolt, but not for long, says Reinhard Rabenstein who has held various leadership positions and is a trusted advisor in the banking and retail industry. The CTO Solutions of Diebold Nixdorf [NYSE:DBD], Rabenstein, who is responsible for integrating the company’s technology roadmap and assessing new technologies, believes that sophisticated product presentations, targeted chatbots, and quicker deliveries most certainly attract more and more consumers to shop online. But, at the same time, consumers are finding it increasingly important to go and shop at local stores, due to the added value from the same. It is no longer a question of online or offline for them; they want both, preferably in a connected way. However, the so-called “perfect consumer journey” is yet to be achieved by most retailers who still operate a channel-centric methodology. Thus adapting the concept of “connected-commerce” has become a survival strategy for merchants to succeed in the transformational retail approach that is entirely centered around the consumer. To keep pace with this paradigm shift retailers require a leader like Diebold Nixdorf that enables their stores to transform, helps them to improve consumer experience along the shopping journey, and drives engagement and efficiency.
On a global scale, Diebold Nixdorf offers end-to-end services throughout the store lifecycle, from deployment to operations. Through its software, EPOS self-service and cash management systems, the company automates the checkout process and thus improves speed and convenience for both the retailers and consumers. Now, as a part of its corporate strategy of connected commerce, Diebold Nixdorf broadened its scope to help retailers to bridge the digital and physical channels and provide a seamless shopping experience: StorevolutionTM focuses on ‘always on’ and secure consumer journeys. Shopping journeys can either be short, i.e. the consumer wants to buy a few predetermined articles, pack and pay as soon as possible, or they can be long and facilitate the best possible shopping experience while the consumer has more time and demands more from the encounter.
Everything we do in our retail strategy follows a consumer-centric approach
Both have in common that they involve several different touchpoints and many options to engage adequately with the consumer – and moreover, both journeys start with the early recognition of consumers. Shoppers “check-in” when they are entering the store and retailers recognize them long before they are coming to the “check-out”. Serving these hybrid consumers requires a seamless provision of ‘smart data’ through all channels, as well as the embedding of digital and mobile-enabled touchpoints for shoppers and associates. The strategy supports mobility for both the staff and the consumers.
The key enabler for all these consumer journeys is VynamicTM: a connected commerce software portfolio on a singular platform that is built for an open retailing eco-system and that creates seamless, personal connections across all channels. Vynamic comprises various functions, such as checkout, mobile retail, transaction- and operations management, analytics as well as engagement and loyalty programs.
With Rabenstein—who also serves as head of the advisory board of AEVI, Diebold Nixdorf’s payments technology subsidiary—at the helm of Diebold Nixdorf, the company is bound to strike heights, while its solutions are already being utilized by leading brands like Shell, Tesco and IKEA. They and many more upper tier retailers rely on the company’s global end-to-end retail portfolio and invest in Diebold Nixdorf’s future solutions to transform their stores and get the ready for Connected Commerce. One solid plan to increase the traffic to retail stores is the implementation of pick-up lockers for click & collect purchases. “Everything we do in our retail strategy follows a consumer-centric approach. We strive to deliver personalized experiences and increased customer engagement to maximize the value capture and motivate consumers to coming back for more,” concludes Rabenstein.