Omni channel retailing adds the flexibility of cross-channel and mobile shopping to the unique revenue and loyalty building capabilities of the face-to-face retail experience. It offers opportunities to build deeper shopper relationships and enhances the availability promises that can be a risk due to out of stock.
Supply chain visibility and stock availability equals more revenue
The convergence of the physical and digital dynamics in the omni-channel is presenting a huge challenge to retailers, who need to make their way in the new retail landscape and create new strategies that will fit in. However, it isn't true that everything is new.
In a recent web conference entitled 'Convergence of Digital and Physical Dynamics in an Omni-channel World, IDC Retail Insights presented the complicated balancing act retailers must face in the new retail landscape to manage the colliding forces of the old and new, as well as the tools they can use to succeed.
The monsoons may have begun in right earnest this year bringing much-needed respite from the sweltering heat of April and May, but there were some consumer goods companies who didn't mind the hot weather at all. For them, the rising mercury levels meant roaring business after two years of suffering the pangs of a cool summer.
After struggling for much of FY13, fast moving consumer goods (FMCG) companies seem to have retrieved some of the lost ground in the last quarter. The results declared by key companies for the three months ended 31 March show most firms have managed to arrest the moderation in volume growth witnessed in previous quarters.
Under pressure to deliver organizational growth and improve in-store operations, a premium lifestyle brands retailer deployed Tyco’s Traffic Intelligence Solution. With a network of 235 stores across 16 countries, it can now use real-time data to guide promotional, merchandising, and staffing decisions in order to maximize conversion and sales.
Significantly increasing shopper conversion rates has been one of the main motivations for Singapore-based FJ Benjamin Holdings to invest in traffic intelligence.
Retailers have traditionally worked with razor-thin margins and loss prevention continues to be a crucial area for helping them protect profits and secure their bottom line from multiple sources of threats - from the petty shoplifter to dishonest staff, to organized retail crime syndicates.
The integration of item-level RFID information and Loss Prevention data creates a real-time understanding of what, when, and how specific items go missing.
In an increasingly vast and technology-inclined industry, retailers have found a significant need to implement solutions that not only improve their return on investment, but also maximize efficiency to meet overall business goals.
Enhanced EAS solutions provide critical decision support at both the store and enterprise level by capturing, aggregating, interpreting, analyzing, reporting and intelligently responding to real-time operational data from stores, employees, inventory, and shoppers. A new generation of scalable, integrated and interconnected systems focused on merchandise protection and optimization as well as infrastructure reduction is currently being implemented by many retailers worldwide to dramatically enhance their performance.