| | June 20158CIOReviewTHE BEST OF BOTH WORLDS:Brick-n-Mortar Stores and Digital Technology Working TogetherBy Rob Lloyd, CFO, GameStopBig data, Beacons, Geo-Fencing, Digital wallets, Mobile point-of-sale, Smartphone applications, Cloud-based systems, Augmented reality --the list of transformational technologies bombarding retailers and their customers is seemingly endless and growing longer every day. Not surprisingly, retailers are left trying to predict the best ways to invest their IT resources to stay ahead of the digital ecosystem curve and avoid being left behind. Some retailers consider recent technology advancements a double-edged sword, capable of delivering countless benefits, while potentially threatening the very existence of their successful brick-and-mortar store operations. However, smart retailers recognize the tremendous upside represented by these new technologies. They are finding ways to leverage these technological advancements to operate their physical retail stores more efficiently, and help build closer relationships with their customers to ultimately help drive additional revenue. At GameStop ­ once considered the very definition of a traditional brick-and-mortar operation with more than 6,600 video game and technology retail store locations worldwide ­ we are thriving by utilizing our brick-and-mortar retail stores with new innovative digital technologies congruently to morph relevancy of our physical stores and online channels to ensure we deliver unique experiences that meet customers' needs. Knowing CustomersNever before has retailers had access to the amount and types of data now available about their customers through customer loyalty programs and online channel analytics. According to IDC, the information in the digital universe today would fill a stack of iPad tablets reaching 2/3rd of the way to the moon (157,674 miles), and the volumes of data is expected to more than double every two years.All this information can provide retailers with valuable clues about the tastes, intent, discovery journeys and purchase decisions of their customers. When combined with the data most mature businesses already have about their customers ­ not to mention the collective wisdom and passion of knowledgeable, frontline employees, who are some of retailers' most valuable information sources ­ the possibilities are virtually limitless. For example, GameStop is able to gain valuable insights from our more than 40 million PowerUp Rewards loyalty members that can quickly be leveraged in identifying new ways of interacting Rob Lloydopinionin my
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