The need for innovation and speed in retail
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based system provides a single version of the truth for order and inventory information, spanning all channels. This gives the visibility needed for smarter business decisions to avoid overselling or underselling available inventory. In turn, customers get real-time order and inventory information from a brand’s website and from customer service representatives who serve them in offline environments. Finally, there is the 360-degree view of
the customer. A unified, cloud-based system means retailers can see the customer’s buying history, which can then inform both product development and the marketing to that customer. A reliable 360-degree view of customer, order and inventory data is the foundation for outstanding customer service. Ultimately, for the customer, it’s about
getting the right products, delivered at the best price, when and where they want. And all in a seamless, omnichannel experience. Personalisation, localisation and
customisation will be key to attracting customers. Retailers will need tailored communication and shopping experiences. One size does not fit all. And, of course, retailers will have to deliver on the omnichannel promise as speed, convenience and ease of use become major buying influences. As Dana Telsey, CEO and Chief Research
Officer at Telsey Advisory Group, says: “Speed of delivery to the customer and speed of product development to the shelves or website… If you don’t have speed, you can’t manage inventory properly. Without the proper insight into the health of your business, your future as a retailer will look vastly different than those retailers that continue to innovate themselves and their products.” The message for retailers is clear: to survive
in this challenging and rapidly changing retail market, it’s all about innovation and speed. And for that, retailers need the right platform.
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