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Technology Implementation Critical for Omni-Channel Retailers
The role of today’s commerce is vastly different from what it was in the past, and it’s servicing the customer in entirely new and different ways. To succeed in this complicated environment businesses have to consider several factors at play, and one of those factors is technological implementation. Technology is a critical aspect of Omni channel retail today and its implementation is a necessary prerequisite to the success of retail business.
Today, the average digital consumer already has multiple profiles across various online channels. And, are adept at switching between channels and are looking for a smooth shopping experience no matter where they shop. There is what we call a tectonic change in consumer behaviour and this has made technology critical to retailers because they need to remain relevant and give a great Omni channel experience to their customers by integrating online and offline sales channels.
Why Omni‐Channel Technology Implementation is Important ?
According to Harvard Business Review:
“Customers only know what they have experienced. They cannot imagine what they don’t know about emergent technologies, new materials, and the like. What customer, for example, would have asked for the microwave oven, Velcro or Post-It Notes? At the time the transistor was being developed, radio and television manufacturers were still requesting improved vacuum tubes.”
That being said, the secret of customer satisfaction lies in towing the line of customers and being visible to them wherever they are and remain available wherever they want to shop, ensuring the same smooth experience always. Shoppers now want ease of navigation as well as a frictionless shopping journey from browsing till purchase and shipping. Therefore the onus lies on the retailer to take care to see that the shopping experience is smooth.
In today’s world, brands are accustomed to the steady rhythm of replenishment to their stores and must deal with shoppers who can buy anywhere, anytime, and anything. That radically changes the way retailers need to view inventory placement, fulfillment options, and the supply chain stress caused by increasing order variability. And that, of course, can have a big effect on profitability.
Understanding the enablers for Omni channel technology implementation:
Seamless and well interconnected channels give an effortless experience to customers and this makes them into returning customers. For this brands require the use of:
- Artificial Intelligence: Retailers with a vision will always try to leverage the power of AI to make maximum utilization of the data to use it to create better experiences for the targeted audience.
- Machine Learning: The other useful thing to use is ML or Machine Learning that can for one thing aid brands in delivering great email marketing campaigns. Use of Chatbots have also become indispensable today,
- Chatbots:Integrating further technology would be in the form of voice assistants and voice search both are indispensable elements of Ecommerce today.
- AR/VR: Customer centric technology is critical to the development of a brand and this could come in the form of Augmented and Virtual Reality. This helps customers to not just see images but also visuals of what they would like to purchase.
What you will enjoy when you automate:
- A positive brand image and greater reach to overseas markets thanks to technology
- Great customer satisfaction.
- Greater visibility of inventory and accuracy
- Automatic stock replenishment and efficient turnover of inventory
- Higher sales volume as a result of optimum inventory planning
- Lowering of working capital
- Strategies for inventory management
- Greater order integration and reduced logistic cost and overall smooth functioning of business operations.
- Reduced processing time and a single window to monitor orders across channels.