Transforming Retail Economics

May 29, 2014

Cloud software is poised to give retailers a much more cohesive view of the customer.

While some applications simply use cloud to offload the need for local software, the true value of cloud is to integrate data and help you better deliver customer engagement. The store is the best place for this personal experience, improving service, convenience and closing the sale on the spot. Through cloud services, you can move quickly to continually improve your capability and keep content and services fresh for your customer. It pays to coordinate and consolidate the various customer influences into a cohesive approach to building loyalty, customer confidence and a consistently rewarding shopping experience. Once the foundation is in place, your opportunity to experiment with new services – including personalised pricing, rewards and offers can be explored.

Through this more integrated, customer-centric approach, retailers can combine and leverage the efforts across marketing, store operations, supplier management and logistics to create a more impactful experience. Payment is influencing this experience with various new ways to pay. Cloud services give retailers the chance to control the customer data and customer experience in new payment methods.  Again this approach creates flexibility and agility while maintaining control. Participation in the customer engagement can be broad, involving specialists and different sources of content but at the core, retailers can maintain control.