We recently wrote about how local retailers are embracing innovation and are set to spend roughly R1.8 billion on digital investments come 2019. This blog post outlined that the majority of ICT spend would be allocated towards cloud-based services, managed services and cellular connectivity.
Internationally, many successful, and well-established, retailers have had to incorporate digital components into their existing offerings in order to remain competitive. From adding online functionality to their traditional brick and mortar stores to offering in-store interactive experiences, there are so many examples of how digital innovation is changing the face of retail. Some of the biggest trends revolutionising the industry include:
Virtual and augmented reality
Virtual and augmented reality provide online shoppers with new ways to “test” a product without ever having to set foot inside a store. A great example of this is eBay’s opening of the world’s first VR department store back in 2016. EBay made this move because wanted to give their online clientele the chance to have more hands on experiences with products before they hit the checkout button.
Retail digital transformation is causing more and more retailers are realising is that they have a wealth of data, which, when used properly, can reveal real, actionable insights. Artificial intelligence (AI) brings together data and automation to help retailers understand their customers’ personal preferences and make appropriate, accurate product suggestions. Research shows that personalisation is one of the top factors influencing repurchase and customer loyalty.
French cosmetics brand, Sephora, has mastered retail digital transformation and personalisation by using data from their loyalty programme to help customers select the right makeup for their skin tone. Tracking what customers had bought in the past; the store offered special deals to customers based entirely on what colours and products were likely to suit their complexion.
Imagine if opening a new store – and ensuring it was kitted out with everything you need – could all be done via one, integrated platform? Sounds like an attractive proposition when one considers how competitive markets have become and that moving slowly could mean losing customers.
Smart retailers eyeing out retail digital transformation are realising the value of strategic integration hubs that bring together multiple apps and pieces of information in a simple and seamless way, making it easier to do everything from manage stock to secure infrastructure for expansion.
This is exactly what our OneView cloud-based TEM Integration Hub does. By allowing businesses to integrate third party, IT and business applications, such as Service Request Systems, on a single cloud-based platform, our customers can keep tabs on spend, track service provider performance and automate lengthy business processes without any hassle. Keen to find out more? All you need to do is complete the form below and we’ll be in touch.