Retail Industries
This sector is mainly about increasing the expectations of the customer. With the power of ratings, repeat purchases and customer journeys it is essential businesses focus on remarkable service. From the smallest shop to the largest global brand the retail consultants, with their vast experience, understand the tricks of the trade, and help retailers undergo digital transformation to meet the demands and expectations of their new clients. Rising commodity costs, regulatory environment, and shifting consumer preferences continue to impact companies in the retail and CPG industry. To succeed in today’s digital age, retailers require more than just a good deal to increase sales and customer loyalty.
Challenges
- Consumer behaviour is changing rapidly, and this is largely because of the explosive growth of e-commerce. Customers have many choices at their fingertips before they commit to a purchase decision. Brand loyalty has become a much more prevalent term because customers have so many more options available to them today. It is a common mistake to make a sale without trying to attract repeat business from the customer. Customers are becoming more used to a certain level of one-on-one engagement that develops a more personal relationship to build trust.
- Managing the balance of stock levels, coupled with supplier and warehouse management to avoid running out of stock and overpaying for storage is one of the biggest challenge for the retail industry Customers expect prompt service which needs to be exceeded and businesses need to respond effectively.
- Multi-channel selling is very complex as it need to provide seamless availability between in-store, app, social, telephone and web to offer cross-selling opportunities and revenue growth. Take the input from the different sources to provide more personalized product. Customers are becoming more used to a certain level of one-on-one engagement that develops a more personal relationship to build trust.
- As the retail market becomes more complex, organizations have more complex structures that require more sophisticated internal communication solutions. This task can be challenging, especially for medium-to-large organizations with several company departments. Retailers have many options available to streamline their internal communication processes.
Solutions
- ERP systems can be the perfect way to solve internal communication problems and more effectively integrate business processes across multiple company departments. This software centralizes business communication and information handling. The platform can generate and share reports with other divisions and help automate task distribution among company departments.
- Transform the supply chain and order delivery. Achieve more accurate sales predictions which enable to plan product, price, placement and promotion across all the stores and partners. Facilitate fast and flexible implementation of mobile solutions in areas of inventory, logistics, service, and product tracking.
- Use the E-Commerce platform to build frictionless, data-driven customer experiences that make interactions personal and highly relevant across every channel. Bring all the communication channels together in a single, easy-to-configure interface, integrated with the website.
