The Digitization wave and the increasing degree of interconnectedness has transformed the global economy into a single, unified marketplace. The retail industry is by far positioned the most favorably within this new paradigm.
The borderless economy of the future promises a larger global footprint and a progressively expanding consumer base to the operators who are able to edge out the competition, and adopt and align emerging technologies to create an infrastructure conducive of a customer-centric business model.
However, the industry needs to begin by rethinking present operational models to accommodate a new breed of customers – informed and digitally empowered. The modern buyer is able to make or change a purchase decision almost instantaneously, supported by a host of information channels and touch points.
A retailer must deploy a next-gen retail management system - overhauling legacy infrastructure models and supporting technologies with the goal of rewiring the enterprise for agility and lean operations. With more than 80% of the online population having opted to make an electronic purchase at one point, retailers are additionally presented with opportunities in terms of leveraging customer data using advanced analytics, and challenges in the form of storing, collating, and protecting that same data in order to retain the customer’s faith in the brand.
At the same time, embracing omni-channel retail solutions can help offer consumers a seamless experience whether they are purchasing items online or in a store.
HCL offers 'One Stop Retail Solutions' - a robust retail management system that combine integrated business processes, information technology, and infrastructure management solutions. HCL's cutting edge retail solutions facilitate operations for retailers across the globe to deliver a top-notch customer experience.
