Retail

With the advent of digital technologies, many predicted the end of the retail sector, with physical stores closing everywhere. 
The reality is quite the opposite, with e-commerce sales worldwide settling at around (only) 13% of total retail sales. This confirms the combination between e-commerce and point of sale, for a true omni-channel experience, with continuous interaction between online and in-store:

• E-commerce as a sales platform serving physical stores, supporting customers and store assistants
• Point of sale as an e-commerce service hub and delivery center 

In this context, the real challenge for the digital transformation of retail is to improve the drive to store and increase e-commerce conversions, with an advanced customer experience capable of countering competitors present only on the digital channel, primarily the marketplace.

Creating the best customer experience for Everywhere Shoppers requires Retailers to focus on the digital value chain and the importance of actionable data, taking steps to:

• Collect data from all touchpoints and incorporate them to create a single customer view, in a path of data collection and analysis, operating according to a CRM strategy and supported by Customer Engagement / Data Platforms or Customer Data Hubs.
• Transform data into insights related to customer behaviors, thanks to Customer and Business Intelligence solutions able to analyze large amounts of data and perform predictive analysis and profiling, using techniques enhanced by Artificial Intelligence (AI) and Machine learning that improve predictive models and allow improvements in marketing automation logic.
• Implement marketing, sales and aftersales strategies and actions that improve customer engagement and loyalty, thanks to omni-channel commerce solutions, and implement integrated online and in-store strategies focused on customization.

While Unified Commerce – a genuine integrated strategy and solution that unifies e-commerce and the point of sale allowing the customer to live a unique brand experience – is at the heart of the sector’s digital transformation, it is undeniable that the various types of retailers have multiple and specific needs.

The main issue for large food retailers is the queue at the till, followed by the need to prevent out of stock events and the complexities of fulfillment, where some processes such as the cold chain, in-store cross-selling and loyalty determine the priority of key interventions.

Among the most targeted solutions in response to the needs of large food retailers are:

• Order Omni-channel Manager (OMS) for efficient management of orders and the fulfillment cycle.
• OMS-related solutions for in-store picking, which allow planning of order preparation times, optimization of the product picking path within the sales point, as well as the work of store assistants and pickers, tracing the performance of the various players involved, for the fastest possible delivery to the end customer.

The importance of direct product experience as drive to store is just one of the dynamics that consumer electronics retailers and large stores, primarily furniture retailers, have in common. 

In-store verification of the product performance investigated during the webrooming phase is decisive in finalizing the sale of a Phygital path par excellence. 

Among the main areas of attention for the sector: 

• The importance of search and omni-channel marketing is also key within the store: the point of sale becomes a Digital Showroom where you can consult an omni-channel product catalog, expanding the choice beyond availability in the specific store, given the high turnover of the products involved.
• Real-time customized product recommendations and information from the store assistant encourage up-selling and cross-selling.
• An efficient and precise order-management system handles and limits out of stock events and typical situations: seasonal peaks (Black Friday first and foremost), continuous promotions, as well as the pre-order service which allows the customer to reserve a product before its actual arrival at the point of sale.

Companies that resell building, plumbing, electrical and lighting materials and equipment, as well as cash & carry outlets, need to:

• Provide up-to-date and timely information to sales staff and mobile support to agents/account managers.
• Allow omni-channel consultation of a rich and updated catalog and self-service sale on the e-commerce channel 24/7.
• Offer high-performance mobile experiences such as Progressive Web Apps (PWAs) that integrate the in-store and out-of-store, thanks to cross-functionalities such as geolocation, product search, real-time inventory visibility, customized price lists and promotions. 
• The possibility of directly accessing instructions on the use of the products on-the go and instructions for technicians in real time during service and maintenance, in the after-sales phase, should not be overlooked.

Explore Fashion Retail Market

Lutech, thanks to its professionals with decades of expertise in consultancy and delivery of customer engagement and omni-channel commerce projects, guides the sector’s big players along their end-to-end Digital Transformation paths.

• Business Consulting
• Customer engagement solution & DataDriven Marketing
• Omnichannel Commerce
• Product Information Management (PIM)
• Web Content Management System (WCMS)
• Omnichannel Order Management (OMS)
• Clienteling & Mobile POS
• Mobile & Instore digital solutions
• Cloud Data Lake & Analytics
• Cloud transformation
• Data & Artificial Intelligence