Evolving Retail Technology
The retail industry is on continuous improvement landscape. In order to keep up with consumers, who are constantly evolving with different needs and wants, retail must be agile and adaptable to keep ahead of those demands.
Digitalization of Retail business has taken a new quantum jump. It’s not only limited to online retailing, its about having complete digitalization of the business. To be successful, in the new digital retail industry, traditional brick-and-mortar retail has been stipulated to evolve, leverage the technology to operate and grow the volumes.
Through this merging of the digital and physical, retail has benefited greatly, providing the consumer with a more immersive experience than ever before, one that is unified across every channel.
Omni-Channel – Simplified
Omni-Channel is the concept, that the customer gets the same experience wherever they access a retail business, whether online or in a physical store. Also, on any device such as, personal computer, Handphone or tab.
What drives this experience? It's via modern retail software solutions. These offer a real-time collection of customer behavior and interactions both online and offline, across stores, web, mobile, email, and social. This is incredibly important for a retailer, as it provides the ability to initiate an interaction with a customer on one channel and then pick up where that interaction left off on a different one. This provides a seamless retail experience for both provider and customer.
Omni-channel also provides the ability to manage inventory more effectively, and thus demand. Through retail merchandising solutions businesses are able to track transactions and orders, allowing complete visibility into inventory size at any time. This supports tricky transactions such as click-and-collect, in-store purchases, shipping from other locations, returns on any channel, or split orders.
Omni-channel retail software solutions also provide enhanced shopper insights, which makes for significantly better forecasting. Using predictive technologies, merchandisers can select the right merchandise and assortment strategy for consumers based on location, maximizing sales and profit margin. Marketers can use these same tools to deliver the right offers at the best time, to the right people, using the most effective channel.
Finding a Retail Software Solution
Key factors to consider, while selecting the Digital transformation platform:
Can the platform personalize shopper interactions? Does it provide the ability for 1-to-1 journeys across any channel? Can solution help to scale Ecommerce business and at the same provide Self-checkout to my walk-in clients?
A modern platform will provide tools attract new buyers and also improve the basket value by creating personalized offers, empower associates with insights, and provide real time analytics for decision makers.
Quick & Easy to learn
Everyone, from the online shopper to cashier and the newest sales rep, should be able to understand and easily use a Retail platform. Key goal of digital transformation is to make complex operations looks easy for its intended user.
Last, a good Retail platform will help, rather than hinder, potential for growth. There should be inherent flexibility within the platform that allows for rapid but controlled growth, as well as helping to deal with any seasonal demands in the company. Business should be able to pop-up POS for upcoming match and at the same time; manage complex inventory operations for new Ecommerce range.
One place where you can find all this is LS Central on Dynamics 365 Business Central. LS Retail can deliver a completely unified shopping experience across web, mobile, and stores, using artificial intelligence to create those sought-after predictive personalized shopper journeys and deliver the best incentive to the right person, through the optimum channel at just the right moment.
Reach us, to take a look at the full range of LS Retail solutions and see what they can do for your Retail business.
At Novasoft, we are consulting partners to top retailers in the region; managing brick & mortar, online shopping, cloud formats & delivery aggregators business models.