Whilst the pace of change in retail technology continues to accelerate, the fundamental premise of retailing has remained constant over many centuries. Whether shopping online in the comfort of your home or traveling through time to a general store, all of retail revolves around the sale of goods or services to the end consumer. It always has, it always will.
Accompanying this technological evolution is a significant rise in consumer expectations. An abundance of information and options are now available and directly influence a buyer’s purchasing decisions.
Successful retailers are the ones who have figured it out. They provide competitive pricing, uniform catalog content, personalized promotions, in-stock merchandise and a consistent brand experience across all channels. Consumers’ great expectations pose a tremendous technology challenge to retailers who manage their channels as silos and, conversely, a major opportunity for multi-channel retailers – you know, the ones with increasing market share and higher customer retention rates.
CrossView believes that a powerful order management solution such as IBM Sterling OMS offers retailers the opportunity to streamline their business processes to achieve an omni channel order life cycle process. That consistency of process across multiple channels allows the consumer to seamlessly navigate the order lifecycle between channels to meet their purchasing needs. This means researching products on a website, visiting the store to review the physical item before purchasing and perhaps completing their order on a mobile device. That’s the paradigm that Sterling Order Management is designed to address and that allows retailers to add new channels quickly and more cost effectively as new technologies emerge.
The long term efficiencies for retailers are also apparent. The very same expectations from consumers generate cost efficiencies with a single common catalog, the elimination of channel pricing and promotions effective across all channels.
Customer loyalty, retention rates, increased market share can not only generate growth, but operational efficiencies, too. These success measures haven’t changed across time and technology – and, again, they never will.
To learn more, contact us, we’d be delighted to talk.