Retail Trends and challenges 1. Rethink Consumer Engagement The pervasiveness of technology be it smartphones, wearables, sensors or augmented reality has resulted in today’s consumer being more connected than ever. This level of connectedness means a retailer could have more access and a more immersive engagement with customers, if executed correctly. Read more Enabling Omni Channel retailing is not only a technology solution but also a significant change in processes and organizational constructs. Our offering Omni Channel Management brings together: The vast intellectual property we have built in executing these engagements Unique approaches like Design Thinking which help in designing a human experience and delivering it in an agile and collaborative way Platforms like Skava and Brand Edge for a unique customer experience 2. Rethink Supply Chain Differentiating through localized assortments and an omni channel experience will necessitate a more flexible and nimble supply chain. Retailers need to rethink their sourcing and distribution landscape for the last mile fulfilment and returns. All these need to be done in an environment where the existing technology landscape does not support it. Read more Rethinking the retail supply chain is key to being successful in the Omni Channel retail environment. We have developed a set of offerings that help retailers in this endeavor: Responsive supply chain: Enabling flex fulfilment and also helping tackle the problem of markdowns and stock-outs in retail Seamless inventory: Improving customer fulfillment experience, on time deliveries for eCommerce orders, reduced contacts to Customer Care call center Retail product data management: Helping get a rich visibility to product data and its attributes across the entire value chain Insights enabled retailing: Insights enabled leveraging big data technologies powered by the Infosys Information Platform. 3. Rethink Decision Making Retailers today have access to tremendous amount of data. However, making sense of this data and more importantly leveraging it in the process to realize value is a huge opportunity. However there are some fundamental challenges: Read more The ability to deal with the vast disparate data The ability to make sense of the data Get the qualified talent Integration if insight with the process The insight driven mindset Establishing the right organization structure for Insights Infosys provides end to end services to help retailers become insights driven. We do this through solutions, capabilities, accelerators and consulting offerings. These include: Infosys Information Platform: A leading edge platform based on Open Source Technologies to help build real time analytics for various business problems A talent pool of data scientists to be able to build the analytical models and a team of domain specialists across functional areas Alliances with academic institutions to help invest in leading edge research and also provide for a pool of talent to work with Solutions for specific areas of opportunity like consumer insights, merchandizing insights, supply chain analytics and omni channel analytics. A Design thinking led approach to help drive an organizational change in mindset with a bias to action and collaboration 4. Rethink Business Architecture Every aspect of retail business is seeing a significant disruption. Retailers need to respond to these disruptions in an agile manner. This necessitates a fundamental rethink and adoption new business operating models, new processes, ways of working and of course, technologies. Innovating on all these fronts while delivering value in the short term is a tough challenge. Read more We have developed a very unique set of offerings and approaches to help retailers on this journey: Business Innovation: Strategic approaches and frameworks to help define new business models, processes, operating models and portfolio management processes Enabling an Agile Organization: Leveraging Design Thinking as a means to drive a shift in organizational culture to be more responsive, creative and imaginative Modernizing technology: Enabling the business aspiration of speed, agility and cost effectiveness needs the appropriate technology architecture. This means adoption of open source, cloud, APIification, mobile, microservices, etc. in a big way. How an existing retailer makes this transition is no trivial task. We have built several tools and playbooks to help make this transition.