With the world of technology ever changing, retailers need to adapt and change in order to keep up with their competitors and the industry. Through leveraging technology retailers can avoid legacy problems and instead streamline their operations, deliver a personalised customer experience and react faster to market opportunity.
Why do retailers need technology?
With customers so accustomed to technology they expect nothing less than a fluid, omni-channel experience when shopping and they expect, and require, customer intimacy too. Customers expect retailers to interact with them intelligently, and if retailers don’t their customers may be inclined to go elsewhere.
Operations are a key area that retailers typically face issues with. Not receiving stock replenishment quick enough can hinder sales and cause upset amongst customers, so ensuring that this process is streamlined will enable increased sales and better stock control. After all, delivery lorries cannot drive any quicker so it is the technology which needs to make the whole process faster and more efficient.
Not only is streamlining operations a necessity due to the need to increase customer satisfaction, but it also enables retailers to maximise profits. After all, that is the key for any business.
Big Data could be the answer
Data is key for a variety of sectors, and it is just as important for retail. By deploying a Big Data solution from Exponential-e your business can use data both in-store and online to influence existing customers and innovate to new ones.
Gain new insights in to customer behaviour faster than ever, and develop a profile of your target marketing their influences, requirements, wants and needs.
With all data managed and maintained from a cost-effective, object storage solution like Cloud Storage too you can ensure that this data insight is affordable too.
Streamline and Optimise Operations
With 31% of retailers that we surveyed stating that operational costs were an inhibitor to growth, and 22% claiming that overstocking was the biggest issue, it is clear that there is a requirement to streamline and optimise operations.
By modernising infrastructure retails can increase their agility and reduce management overheads. This allows IT staff to focus on revenue generation projects, instead of time consuming tasks such as fault fixing, patching and managing compliance issues.