The future is now: the five keys to success in the new era of retail October 18th, 2018
The introduction of exciting new technology over the past few years has meant that the world is more connected now than it ever has been before.
In fact, the word ‘connectivity’ has become a buzzword associated with almost all new technology. But it’s true that the latest devices have made a huge difference to the way retailers operate and connect with their customers to provide the service they expect.
The pace of change in consumer behaviour is also accelerating, driven largely by technology. In this new interconnected world, consumers are demanding not only omnichannel presence, but omnichannel proficiency.
With that in mind, here’s five key areas that the most successful retailers are focusing to stay nimble, anticipate trends, and grow:
Retailers should start by looking at opportunities to enhance the way shoppers interact with their brand in a seamless manner. This means creating a smooth experience from web, to mobile and in-store. By doing this, they can create fluid, consistent, convenient experiences for consumers across all channels and earn their loyalty.
The movement toward digitisation isn’t new, but digital and automation capabilities have reached new levels that retailers can employ to great benefit. Mobile enablement, cash management, and labour management are but a few examples of the many ways winning retailers are leveraging the shift from physical to digital processes.
Thriving in the new retail landscape means reimagining the physical store as the hub of your enterprise. From frictionless checkout solutions, to flexible fulfilment options, to creative in-store customer engagement, transforming the traditional store can take many forms and is essential to attracting and retaining loyal shoppers.
Having access to actionable, real-time business intelligence and analytics empowers decision makers to make faster, better decisions to positively impact their bottom line. Insight also helps to anticipate shopper needs and fulfil them automatically – again, delivering the ease and convenience today’s consumer is looking for.
Retailers are under more pressure than ever to improve operational efficiencies while still delivering superior shopper experiences. The latest technology can help to tackle the challenge by streamlining the supply chain, use demand-driven replenishment to balance inventory with demand and much more.
BlueStar and its partner NCR offer a number of solutions that can help retailers succeed in the new era of retail. NCR has a long history of assisting retailers, starting in 1884 by introducing the first mechanical cash registers to help retailers do business better following the Industrial Revolution.
NCR has invested heavily in preparing for this latest retail revolution, working hard toward becoming the leader in omnichannel at a time when omnichannel was yet to be born.