In retail, you often hear the word “channel” when describing how products are delivered to the customer. But actually, a channel is a bit more involved. A retail channel is the end-to-end set of locations, processes, and technologies products pass through from the point of manufacture to the end-customer.
I recall a conversation with a Forrester analyst in 2004 on the topic of “retail channel integration.” Essentially, the gist of the discussion was centered on the integration of the online (eCommerce) channel with the store channel.
We’re excited to announce the release of our new Catalyst Accelerator for Retail, which illustrates API development best practices for retail-specific use cases. It provides developers with access to source code, API portals, and web experiences that are designed to showcase an application network for the following use-cases:
The importance of eCommerce is expanding rapidly, especially with Amazon continuing to build its robust platform. Online sales will reach $414 billion by 2018 and mobile commerce now accounts for 21% of total digital sales. Given the growing importance of eCommerce as a channel, it is imperative that eCommerce works seamlessly with a retailer’s traditional channels.
Typical eCommerce Platforms today tightly couple their technology layers, inhibiting any flexibility to drive omnichannel experiences.
Larry Ellison once said that a “CRM provides a 360-degree view of your customer, provided you don’t care about getting paid.” This quip was intended to ward off new threats to the dominance of ERP. Many organizations, having implemented GL and ERP, were dipping their toes in the CRM waters––particularly service heavy industries, such as utilities and manufacturing. These industries built their services, sales, and marketing functions into this CRM domain.
If there is one takeaway from our Connected Consumer Report, it’s this: customers demand and expect a tailored omnichannel experience across every touchpoint with a company.
Last month, Amazon announced it would open its second bricks-and-mortar bookstore in San Diego. Its first physical bookstore opened last year in Seattle, setting off a flurry about what that meant for the online retail giant and the future of retail itself.
According to UK tech news site IDGConnect, the physical store is part of ” a general shift towards data driven omni-channel customer experiences…the extensive customer data now available via online channels means companies can now provide a range of targeted customer experiences to suit every purpose.
It’s no surprise that business is changing dramatically. The potential afforded by digital transformation could have dramatic effects on companies’ growth, scalability, and revenue. Here are the top 5 trends that I think will have a major effect on businesses next year:
In 2016, we’ll see interesting Internet of Things use cases come to life, rather than major steps forward in devices themselves. With CES approaching in January,
The holiday shopping season is in full swing, but this year retailers noticed that customers aren’t spending the bulk of their holiday budget on Black Friday as they have in the past. Instead, shoppers are spreading their purchases throughout the pre-Christmas period, and are shopping online, whether on desktop or their smartphones, more than in the past. This shift has made it difficult for retailers to track and learn from shoppers’ habits during the holiday season.
Multi-channel retailing has multiplied the opportunities for Retailers to do more business with their customers by going beyond their bricks and mortar in order to sell over the web, through smart phones and tablets, perhaps soon on smart TVs and through Partners and Resellers.
I wish to help you see how you can achieve a significant increase in revenue by adopting an IT architecture that will bring you a rapid return on investment and help put your retail business right at the helm of a fundamental change in the industry.
