Renew retail with new experiences - #RethinkRetail
How much has the retail experience changed – in the last 5 years? Actually, in the last 1 year! Consumers are technology savvy, socially connected, and mobile enabled. Today’s customers demand superior experiences from retailers and they expect those experiences at a speed they choose, at a location of their choice, and at the time they want that experience.
Given this and driven by digital technology, retailers need to rethink their strategies to stay ahead of the game.
Infosys helps retailers do just this.
By providing a seamless experience across channels, we help retailers understand their consumers better by deriving insights from their physical and digital footprints. Using big data technologies to unify the vast amount of data and information present, we derive actionable insights that can keep you constantly ahead of the curve.
The significant role of digital technology has also played a part in enabling the industry to renew its entire ecosystem. Retail outlets stand at the forefront of reducing the distance between themselves and their consumers by increasing relevant interactions within and outside the store.
This is also coupled with empowering the consumer to not simply shop “anywhere-anytime-on any terms” but also be a part of the larger landscape. By voicing an opinion, writing a review – usually through social media – consumers can now view retailers as enablers, helping them to unleash their creative expression.
In this sense, retailers hold a unique position by physically being so close to their customers. Apart from traditional business practices – such as ensuring profitability, customer loyalty, and providing quality service – retailers gain a ‘real’ sense of their customers’ needs and requirements and can position themselves accordingly. With this in mind, retailers are at the forefront of the human revolution, wherein they can act as catalysts for customers to leverage the power of digital so as to make more informed choices and play a leading role in shaping the industry as a whole.