How Can Marketing Intelligence Help The Retail Industry To Transform The Way They Are Connecting With Customers?

Could software robots assist the physical robots in retail stores?

Does RPA even offer some tangible benefits to the retail industry?Yes, it does!

And in this blog, we’ll tell you how.

These past years, the retail industry has emerged as a leader in the group of prominent and growth-oriented sectors.But the increasing complexity and dynamic shifts have rendered the traditional methods of retail, anything but obsolete.

Retail is a low-margin but high-volume industry- meaning a subtle change in customer demand can disrupt the functioning of the entire industry.

And that’s exactly what’s happening today!With increasing competition and price-wars, sustaining a successful run in the Retail industry- be it online or offline, is a strenuous process.The viable option to keep operations up and running effectively, however, is to offer improved customer experience & automate business processes.

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Multi-channel retail software that allows retailers to offer a wonderful shopping experience to its customers.

The customers will be able to shop both in-house and online products from their comfort zone.

Accurate estimation of technology expenses is a difficult task; however, it is a critical need for every organization.

In these dynamic times, an organization aims to remain updated with the changing paradigm; information technology is a critical capability for effective operations and increased business value.

A well-designed technology budget is a key to better cash flow management, improvement in operations, the overall growth of the organization, and groundwork for future technology needs.

Therefore, organizations must consider their IT priorities prudently and justify the same for better strategic IT management and the success of the organization.Few steps must be followed for an effective IT budgeting process; otherwise, it may result in investment in technology, which is not critical for the organization, or disconnection of the IT department with the other teams, thereby leading to overall inefficient operations.

This committee will be responsible for guaranteeing the organization’s capability and efficiency in IT management, the use of the precise standards and methods for its implementation, alignment of IT with the business goals and objectives, and accomplishment of the expected outcomes and ROI.Audit current IT spendingThe IT department of an organization needs to review the IT budget of the last year to analyze the spending and recognize where the changes are required.

The IT team must check the budget to identify the recurring expenses and non-recurring expenses as well as leasing versus buying solutions.

Yesterday a website with user-friendly features was sufficient.

A Flurry report has suggested that the US-based consumers spend over 3 hours on mobile phones daily.

Another survey has found that people used to search and browse products on the move using their smart devices.

These findings pinpoint the importance of a customized app for strengthening your retail business.Importance of Mobile Apps for Retail BusinessThe thriving mobile platform has brought revolutionary changes in the way retailers can connect and communicate with customers.

Retail business app development helps you get rid of traditional marketing methods using billboards, leaflets, and other printed material.

It is easy to spread awareness about discounts, new launches, and promotional offers through a mobile app.

• The urban population has ballooned by half of the global urban population.

That’s why customers are looking for stores that offer multiple delivery options and alternatives to select the delivery window.

Here comes the role of last-mile strategy and the technology leveraged to evolve the last-mile delivery services for meeting the new expectations while maintaining profitability.

The concept of same-day delivery, free delivery, or delivery in an hour brought to the world by leading giants such as Amazon, Walmart, or Target has certainly added convenience to the customer’s life and helped them gained a major share of the market.

Again, the small inventory negatively impacts the last mile delivery services because the limited number of inventory sources won’t let the retailers deliver the product in the defined window of time that in turn hurt the customer experience.

Even, the retailers can consider the vendors who can execute shipping at a faster rate.