Technology is driving the future of retail. E-commerce shopping, advanced analytics, virtual reality, social conversation and personalised deliveries are transforming the way merchant interact with their customers.
Retailers positioned for growth need to adapt to these trends and enhance customer experience to maximise profit and remain competitive or risk being outdated and sidelined. Specifically for brick-and-mortar retailers, a transition to e-commerce is long overdue.
Below we look at how a comprehensive end-to-end management system can assist retailers to drive the best value and ROI from their operations.
Drive insights from retail data
An integrated business management platform shifts the focus from siloed operations, poor data management and cumbersome manual processes to a centralised management model. In retail, data-driven industry analytics and integrated processes automate operations, improve reporting, and meet customer demands.
For up-and-coming retailers, deploying advanced analytics can dramatically improve inventory management at multiple outlets, optimise merchandising and sales processes, lower working capital and marketing costs while boosting profit margins and improving the overall customer experience.
Real-time insights into the retail experience ultimately help management understand customer preferences with accurate forecasting and market predictions. Merchants can analyse customer behaviour and proactively adjust their sales strategy to optimise sales and increase customer satisfaction.
Create new customer experiences
Forward-looking retails are deploying new technology to create better in-store experiences and attract customers. This process requires an in-depth analysis of the marketplace, opening new trade channels and payment gateways, devising the best pricing strategy, analysing new entrants and competitors, as well as tracking customer behaviour.
An integrated business management solution that supports the latest technologies – cloud, mobile and app payments, IoT, VR, machine learning, social listening, chat support – puts innovation and flexibility at the forefront of retail management. It actively engages buyers by creating exciting shopping experiences – effectively enhancing customer loyalty.
Transforming the retail experience to stay ahead of the competition is now mandatory – and it only requires a world-class business management platform to start and put the necessary steps in place.
Dynamics 365 Business Central is an all-in-one business management solution that is easy to use and adapt, fast to implement, easy to configure, and above all, affordable.
Decision Inc. Immix can help you make informed decisions with the right data across your business giving you an end-to-end view of your operations.
Integrate. Automate. Grow your business faster with Dynamics 365 Business Central and Decision Inc. Immix.