Updating Retail Platforms in an Ever More Connected Age
Few can predict what the near future will hold for retailers. One thing is certain: change is on the horizon and shows no signs of slowing. If retailers aren’t willing to adapt and adapt hard, they may be left in the dust by their more flexible competitors. A recent IDC report determined that a having…
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Few can predict what the near future will hold for retailers. One thing is certain: change is on the horizon and shows no signs of slowing. If retailers aren’t willing to adapt and adapt hard, they may be left in the dust by their more flexible competitors. A recent IDC report determined that a having an updated central platform is the deciding factor. IDC offers a number of suggestions and starting points for retailers developing their next platform.[1]
First and foremost, emphasize management of an omnichannel customer experience. This doesn’t stop at user experience but extends to digital marketing, customer service, and nearly every touch point. Consistently execute campaigns and promotions that have been integrated with companion applications for a holistic approach.
Furthermore, companies must equip themselves with an omnichannel commerce engine that stands as a central transactional engine that can function in all channels. Couple that with omnichannel order fulfillment that can both make decisions around fulfillment as well as optimize their execution. This should be integrated with an appropriate supply chain application or applications.
Finally, retailers must optimize their omnichannel content so that it can be adapted, customized, and distributed to all corresponding channels automatically. No matter your content and digital asset management systems, it’s imperative to manage them all with a uniform approach. Connectivity between these channels as well as with extant databases like customer data and IoT will help push retailers into the next generation of online commerce. With AI on the way to change the landscape yet again, being adaptable now will pay off big dividends in the future.
https://www.sap.com/cmp/dg/crm-xe17-ret-cmp-idc/index.html?url_id=text-EMEA-Digitalist-2017Industries-LP-IDC-Profitability:CRM-XE17-RET-CMP_IDC02
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