Digital Transformation in Retail Industry
Retail industry is a huge industrial chain in a developed economy, we have noticed that earth-shaking changes have taken place in the past ten years. The development of related technologies in the retail industry is a big storm for their industry, which greatly affects the direction of the market, from products to Consumer behavior is evolving, regionally and globally.
Enterprise transformation to digital work system
As a large-scale business model, that needs to deal we a huge supply chain, it needs to handle a large number of tasks and activities. This involves many complex workflows and human resource coordination. In order to increase efficiency and more productivity, businesses start using business process systems to streamline the process of most business tasks, custom business software is a solution that automates and implements all the tasks quickly and easily, which can avoid causing the spend inappropriate resources for implement low-value task to decrease business opportunity. These include some complex task such as warehouse, shipping and accounting …etc. It also provides systematic business analysis and insights for business forecasting. Therefore, many companies are willing to embrace technology. This contributes to the sustainable development and expansion opportunities of the business.
For product development and launch, enterprises through the data collected from the business system design the personality and select the product that is suitable to launch. That’s a great precise aim for the target consumer.
Consumer behavior Changes
The retail industry is an industry that faces tens of millions of customers. They need to observe market trends to determine their business direction, which means that changes depend on customer behaviour. before the covid-19 pandemic, people were still not used to shopping online, they prefer shopping in real shops most of the time. the retail industry is difficult to change consumers’ habits by themself. But now, the benefit of the pandemic force consumer to change their purchasing habits. they starting to accept eCommerce to be the popular consumption standard.
The reform of retail technology
Early retail technology talked about the function of letting visitors learn about your products and buy them on the Internet. it’s not any customer experience involved in this process. After the technology development, which provides a lot of possibilities to the way in every stage of the experience.
Customer Service
Customer satisfaction is one of the important factors for deal closing, at the early eCommerce age, customer service most of the time is through by hotline and email, even if consumers can’t get the answer from customer service, non-real time respond is a weakness in the service. Now, enterprises through the AI robot to answer visitor most questions in real-time without limited in time and location, Also provide the a useful information to guide for customers to purchase decisions.
Consumer Experience
Purchase experience technology development is advance in this couple of years, the virtual reality technology is the key of enhance the consumer experience. Such as a 360-degree videos, photos or product demonstration. That applies to many category products, such as clothing, toys, and housing. Simulate the experience in the physical shopping experience, That helps shoppers really understand what they’re evaluating and what they want to purchase. On the other hand, this is building a strong connection between the brand and the consumer.
Payment Method
Convenience is one of the most important engagements to close deals, payment technology is one of the big factors in pushing eCommerce development, Consumers can use a lot of channels to pay their bills, such as credit cards, debit cards, and mobile payment. which is provide safety and convenience to consumers in the purchase process.
Automatically business model
The most consumer does not enjoy the kind of feeling like monitored or observed by anyone, Therefore, some enterprise is started to set up unmanned stores with advanced technologies, such as radio-frequency identification (RFID) tags, artificial intelligence, Internet of Things (IoT), augmented and virtual reality (AR&VR), and near-field communication (NFC) devices technology to be used in the grocery retail field mainly, these novel business models aim to eliminate the need for checkout lines and create greater efficiencies throughout the shopping experience. the consumer would feel more comfortable in the shopping process. In the future, it also can apply in other filed, such as cafes and bookshops.
Digital transformation is a trend all over the world
As a scalable enterprise transformation is essential in the planning, no matter is internal or external, the case in modern business should be more systematic management and efficient performance in order to compete in the market. FlexApp is pleased to provide you with custom business software for your business transformation to be smarter and more competitive.