Tag: ETP Group

How Customer Experience Can Combat Customer Churn

Posted on by Omprasad Devadiga

Customer Experience (CX) is the sum total of all interactions a customer has with your brand. It’s the emotional journey a customer takes from initial awareness to post-purchase satisfaction. A positive CX can lead to increased customer loyalty, repeat business, and positive word-of-mouth. Conversely, a negative CX can result in customer churn, negative reviews, and lost revenue.

The Impact of CX on Customer Churn

Customer churn, the rate at which customers stop doing business with you, can be influenced by various factors, including:

  • Poor customer service: Inefficient or unresponsive customer support can frustrate customers.
  • Difficult purchasing process: A complex or time-consuming checkout process can deter customers.
  • Lack of personalised experience: Generic interactions can make customers feel undervalued.
  • Technical issues: Website glitches or app crashes can negatively impact the customer journey.

Strategies to Enhance Customer Experience

Streamline Customer Touchpoints:

  • Consistency: Ensure a consistent brand experience across all channels (website, physical store, social media).
  • Accessibility: Make your products and services easily accessible through user-friendly platforms.
  • Personalisation: Tailor your interactions to individual customer preferences.

Reduce Response Times:

  • Prompt Support: Implement efficient customer support channels (live chat, email, phone) with quick response times.
  • Self-Service Options: Provide helpful resources like FAQs and knowledge bases to empower customers.

Optimise Billing Processes:

  • Simplicity: Keep billing and invoicing straightforward and easy to understand.
  • Flexibility: Offer multiple payment options to cater to diverse customer preferences.
  • Transparency: Clearly communicate pricing, fees, and payment terms.

Incentivise Loyalty:

  • Reward Programs: Implement loyalty programs with attractive rewards to encourage repeat business.
  • Personalised Offers: Send targeted promotions and discounts based on customer behavior.
  • Exclusive Access: Offer exclusive benefits to loyal customers, like early access to new products or special events.

Collect and Act on Feedback:

  • Customer Surveys: Conduct regular surveys to gather feedback on product quality, service, and overall experience.
  • Social Listening: Monitor social media for customer sentiment and address issues promptly.
  • Analyse Customer Data: Use data analytics to identify trends and areas for improvement.

As the retail landscape continues to evolve, customer experience will remain a critical differentiator. By investing in innovative technologies, personalised interactions, and seamless journeys, businesses can stay ahead of the curve. Let’s embrace the future of retail, where customer satisfaction is the ultimate goal.

How ETP Unify’s CRM Can Help You Retain Customers and Increase Revenue

ETP Unify’s CRM module is a powerful tool to combat customer churn by fostering strong customer relationships and driving loyalty. By centralising customer data and enabling personalised interactions, retailers can significantly reduce customer attrition.

Key Strategies to Combat Churn:

  • Personalised Customer Experiences: ETP Unify’s CRM allows retailers to segment customers based on demographics, purchase history, and preferences. This enables personalised marketing campaigns, product recommendations, and loyalty programs.
    • Tailored offers and promotions can be delivered through various channels, including email, SMS, and in-app notifications.
  • Proactive Customer Support: The CRM module can help track customer interactions and identify potential issues.
    • By promptly addressing customer concerns and resolving problems, retailers can prevent dissatisfaction and maintain customer loyalty.
    • AI-powered chatbots can provide instant support and answer common queries.
  • Effective Loyalty Programs: ETP Unify’s loyalty management features allow retailers to create and manage loyalty programs that reward customer loyalty.
    • By offering exclusive discounts, rewards, and personalised offers, retailers can incentivise repeat purchases and reduce churn.
  • Data-Driven Insights: The CRM module provides valuable insights into customer behavior, preferences, and churn patterns.
    • By analysing customer data, retailers can identify at-risk customers and take proactive steps to retain them.
    • Predictive analytics can help anticipate customer needs and offer timely solutions.

By implementing these strategies, retailers can strengthen customer relationships, increase customer satisfaction, and ultimately reduce customer churn. ETP Unify’s CRM module empowers businesses to deliver exceptional customer experiences and drive long-term growth.

How Can Retail Leaders Define the Store’s Role in the New Era?

Posted on by Omprasad Devadiga

The battle between brick-and-mortar and the rise of e-Commerce has been well-documented in retail for decades. Enter unified commerce: a seamless, omni-channel experience where the distinction between channels fades. But amidst the talk of e-Commerce dominance, a crucial question arises: how can stores thrive in the new era?

Once a Silo, Now the Strategic Hub: The Store

Traditionally, stores operated as independent entities, managing inventory and transactions in isolation. A unified commerce platform shatters this siloed approach. Customer data is unified across channels, and stores become strategic hubs fulfilling various roles:

Inventory Fulfillment

Stores are no longer just for browsing. They can act as mini-fulfillment centers, processing online orders for click-and-collect or same-day delivery. This reduces reliance on centralised warehouses and expedites deliveries, enhancing customer convenience.

Personalised Customer Experience

Armed with a unified customer view, store associates can personalise interactions. Imagine a salesperson greeting a customer by name, acknowledging their recent online purchase, and suggesting complementary products. This level of personalised service fosters brand loyalty and increases conversion rates.

Showrooming and Experiential Retail

While some products translate well online, others benefit from a physical experience. Stores can showcase these products, allowing customers to touch, feel, and try them on. This showrooming approach can be further enhanced with interactive displays and augmented reality experiences, creating a more engaging environment.

Returns and Exchanges

Returning or exchanging an online purchase can be a hassle. Stores can streamline this process by offering easy in-store returns, eliminating the need for customers to print labels or ship packages.

Community Building and Brand Advocacy

Stores can foster a sense of community. Events, workshops, and loyalty programs can attract customers and create a destination beyond just shopping. Engaged customers become brand advocates, promoting the brand organically and driving sales.

Challenges and Considerations

While the benefits are clear, embracing the store’s role in unified commerce presents challenges:

Technology Integration

Connecting online and offline systems requires robust technological infrastructure. Investment in robust point-of-sale systems, inventory management solutions, and customer relationship management (CRM) platforms is crucial.

Employee Training

Store associates need to be trained on unified retail commerce principles and equipped with the skills to leverage customer data for personalisation and fulfillment tasks.

Operational Efficiency

Integrating inventory across channels can be complex. Effective processes for in-store fulfillment, click and collect, and return management are essential.

ETP Unify: Empowering Retailers to Reimagine the Store

As a leading unified commerce company, ETP Group understands that retailers face unique challenges in today’s competitive landscape. Our powerful cloud-native Unified Commerce Retail Solution, ETP Unify, empowers you to:

  • Deliver Seamless Omnichannel Experiences: Provide customers with a consistent and personalized experience across all channels, from your website to your physical stores.
  • Optimize Inventory Management: Gain real-time visibility into your inventory levels across all locations, reducing stockouts and overstocking. Our intelligent inventory management tools help you optimize your supply chain and minimize costs.
  • Enhance Store Operations: Empower your store associates with the tools they need to provide exceptional customer service and drive sales. Our mobile POS systems, customer data access, and training programs equip them to handle everything from in-store sales to click-and-collect orders.
  • Drive Sales and Increase Customer Loyalty: Leverage customer data to personalize marketing campaigns, offer targeted promotions, and provide relevant product recommendations. This helps you build stronger relationships with your customers and increase repeat business.

By embracing our unified commerce retail solution and reimagining the store’s role, retailers can create a truly customer-centric experience. ETP Group is here to partner with you in this exciting journey, helping you unlock the full potential of your stores and build a thriving unified commerce strategy.

The Future of Retail: A Collaborative Experience

The future of retail isn’t about online versus offline, but rather a seamless collaboration. Stores, empowered by unified commerce, will become hubs for personalised experiences, efficient fulfillment, and community building.

ETP Group stands ready to be your trusted partner in this transformation, ensuring your stores remain relevant in the ever-evolving retail landscape.

How Customer-Centricity Fuels Success in the Omni-Channel Retail Landscape

Posted on by Omprasad Devadiga

Welcome to the future of retail, where shopping isn’t just an activity—it’s an experience. In our hyper-connected world, customers hop effortlessly between online stores, physical shops, mobile apps, and social media, expecting a smooth and personalised journey at every turn. As a leading Unified Software company, ETP Group is here to show you how to build a customer-centric business that shines in this omni-channel retail universe.

Imagine walking into a store where everyone knows your name, your favourite products, and even your latest purchases. That’s customer-centricity. It’s all about making your customers feel special, understood, and valued. In an omni-channel world, this means creating a unified experience across every touchpoint. Whether your customers are browsing your website, shopping in-store, or scrolling through your app, the experience should be seamless, engaging, and tailored just for them.

Why does providing an omni-channel experience matter?

So, why should offering an omni-channel customer experience matter to you? Before we dive in, let’s check out some eye-opening statistics that underscore the importance of an omnichannel approach.

  • Businesses with omnichannel strategies see 91% higher year-over-year growth.
  • A robust omni-channel CRM strategy retains 89% of its customers.
  • 71% of shoppers use smartphones for in-store research.
  • Omni-channel customers spend 10% more online and 4% more in-store.

These stats clearly show that omnichannel customers are more valuable, driving better revenue and business growth.

How can omni-channel retail experiences help you create more valuable customers?

Enhanced Personal Experience: An omnichannel shopping experience allows customers to interact with your brand and shop through their preferred channels. They can compare and finalise products online and purchase them in-store. This level of hyper-personalisation and seamless transition between channels leads to a superior customer experience and higher satisfaction.

Boosted Customer Loyalty: When customers enjoy a stellar experience, they are more likely to stick with your brand and continue shopping with you. This increases customer loyalty and retention. Since loyal customers spend three to five times more than other customers, offering omnichannel experiences can significantly boost your revenue.

Step-by-step Process to Create an Omni-Channel Retail Experience for Your Customers

Every omnichannel customer engagement strategy should aim to provide a consistent experience across all channels. This requires identifying and integrating all customer touchpoints to deliver a seamless, unified experience.

If this seems challenging, follow this step-by-step process to create an effective omnichannel experience for your customers.

1. Research Your Customers and Create Buyer Personas

To create an effective omnichannel experience, understand what your customers need and their preferred channels. Conduct thorough research to identify who your customers are, which channels they use, and how they interact with your brand.

For example, Gen Z and millennials may favor online channels like social media, while older customers might prefer physical stores. Balance your online and offline channels based on these insights.

Then, compile this information to create detailed buyer personas. These personas help streamline your target audience, customer segments, and marketing campaigns, allowing you to run behaviorally targeted ads that are twice as effective as regular ads.

2. Identify Customer Touchpoints and Map Customer Journey

To optimise the experience across channels, identify where your customers connect with your brand—be it organic content, search engine ads, mobile apps, social media, third-party marketplaces, offline ads, in-store, and more.

A common misconception is that more touchpoints equal more sales. While multiple touchpoints can attract more customers, it’s not necessary to be present on every channel. Instead, focus on mastering a few key channels.

After identifying major touchpoints, map out your customers’ purchase journeys. Keep in mind that 92% of first-time visitors to a retailer’s website aren’t there to buy. Consumers often take a zig-zag journey, moving between channels and touchpoints. By mapping these journeys, you can spot opportunities to deliver seamless omni-channel retail experiences and better engage your customers.

3. Leverage the Right Tools and Technologies

With the rise of technology, offering an omni-channel CRM is now more accessible. However, the key is to choose the right tools that ensure seamless data flow between channels and touchpoints.

Essential tools for an omni-channel retail experience include:

  • Live Help Tools such as Chatbots and live chat solutions
  • Customer Relationship Management (CRM) tools to collect and unify customer data
  • Operations Management Solutions for omni-channel inventory management and order management
  • Social Media Management Tools to handle interactions across social channels
  • Helpdesk Support Platforms to provide high-quality, multichannel support
  • Ad Management Tools to manage advertisements across various channels

4. Recognise Elements that Impact Omni-Channel CRM

Many factors influence customer experience. For website visitors, ease of navigation, loading time, and content are crucial. In-store, product availability, and service quality matter. Each channel has unique elements that affect the customer experience.

As an omnichannel brand, identify and optimise these elements. Monitor customer behavior closely. If many customers abandon their cart at checkout, revamp the checkout page. If store visitors aren’t making purchases, consider hiring new sales staff.

5. Collect and Analyse Customer Feedback

Mapping your customers’ journey and monitoring their behavior provides insights into their shopping experience. However, to truly understand their thoughts and feelings, collecting feedback at every touchpoint is essential.

There are various methods to gather customer feedback. Prompt customers to complete feedback forms after purchases, send follow-up emails and social media messages requesting their input and use polls or surveys to gather additional insights.

6. Cultivating a Customer-Centric Culture

The heart of a customer-centric business lies in its people. It’s about fostering a culture where everyone is committed to delighting the customer. This involves training your team to anticipate and meet customer needs, empowering them to go above and beyond in service, and constantly seeking ways to improve. Leadership plays a key role here, setting clear goals, encouraging innovation, and celebrating customer-focused achievements.

Wrapping It Up

In today’s omni-channel retail world, building a customer-centric business is a must. By embracing omni-channel, harnessing the power of data, integrating cutting-edge technology, and nurturing a customer-first culture, you can create memorable, personalised experiences that keep customers coming back.

At ETP Group, we’re excited to help you navigate this dynamic landscape and put your customers at the center of your universe. Contact us today!

Is Technology the Missing Piece in Sustainable Retail? Know Here!

Posted on by Omprasad Devadiga

Retail technology can be a powerful tool in promoting sustainability within the retail industry. By leveraging technology, retailers can optimize their operations, reduce waste, and minimize their environmental footprint.

The Importance of Sustainability in Retail

Sustainability in retail offers numerous benefits, including:

  • Enhanced brand reputation: Consumers are more likely to support brands that prioritize environmental responsibility.
  • Increased customer loyalty: Sustainable practices can foster long-term relationships with environmentally conscious customers.
  • Cost savings: Implementing eco-friendly measures can lead to reduced operational costs, such as energy consumption and waste management.
  • Regulatory compliance: Adhering to environmental regulations ensures legal compliance and avoids potential penalties.
  • Positive social impact: Sustainable initiatives can contribute to a healthier planet and improve local communities.

Here Are Some Key Ways Retail Technology Can Contribute To Sustainability:

Inventory Management and Demand Forecasting

  • Reduced waste: Accurate inventory management can help prevent overstocking and understocking, reducing the need for unnecessary production and transportation.
  • Optimized ordering: Demand forecasting tools can help retailers anticipate customer needs more precisely, leading to more efficient ordering practices and reduced waste.

Supply Chain Optimization

  • Increased visibility: Retail technology solutions can provide real-time visibility into the supply chain, allowing retailers to identify inefficiencies and potential disruptions.
  • Reduced transportation: By optimizing routes and minimizing transportation distances, retailers can reduce their carbon emissions.
  • Ethical sourcing: Retail technology solutions can help track the origin of products, ensuring compliance with ethical sourcing standards and supporting sustainable practices.

Energy Management

  • Data-driven insights: Retail technology can collect data on energy consumption, allowing retailers to identify areas for improvement and implement energy-saving measures.
  • Automated controls: Smart building technology can optimize energy usage by automatically adjusting heating, cooling, and lighting systems based on occupancy and other factors.

Waste Reduction

  • Tracking and analysis: Retail technology can track waste generation and identify areas where waste can be reduced or recycled.
  • Sustainable packaging: Retailers can use software to optimize packaging materials and design, minimizing waste and promoting sustainability.

Customer Engagement and Education

  • Personalized communication: Retailers can use software to send targeted messages to customers about sustainable products, promotions, and initiatives.
  • Educational content: Retail technology can be used to create and distribute educational content about sustainability, empowering customers to make informed choices.

Carbon Footprint Measurement and Reporting

  • Data collection: Retail technology solutions can collect data on various aspects of a retailer’s operations, including energy consumption, transportation, and waste generation.
  • Carbon footprint calculation: This data can be used to calculate the retailer’s carbon footprint and identify areas for improvement.
  • Reporting: Retailers can use software to generate sustainability reports, demonstrating their commitment to environmental responsibility.

By leveraging the capabilities of retail technology solutions, retailers can make significant strides towards a more sustainable future. By optimizing operations, reducing waste, and promoting sustainable practices, retailers can not only benefit their businesses but also contribute to a healthier planet.

ETP Group’s Commitment to Sustainability

ETP Group digital receipts and AI-powered fraud detection systems are just a glimpse of how technology can be harnessed to reduce waste and create a more sustainable future. By embracing these solutions, retailers can not only contribute to environmental protection but also improve their operational efficiency and customer experience.

Contact ETP Group today to learn more about our unified commerce and how it can benefit your business.

Struggling with Data Deadlock? Time to Breakfree with AI

Posted on by Omprasad Devadiga

Remember that feeling of frustration when you can’t find your keys, phone, or wallet because they’re scattered all over the house? That’s what your data looks like when it’s trapped in isolated silos. Businesses today are drowning in a sea of information, but without a way to unify it, they’re missing out on the true power of Artificial Intelligence (AI). ETP Group, a leading unified commerce solutions company, is here to bridge the gap. We unlock the potential of AI by helping businesses create a single source of truth—a unified data platform that fuels intelligent decision-making and propels them towards a future powered by AI.

ETP Group: Your Partner in Unified Commerce

ETP Group, a leading Unified Commerce Solutions company, understands the importance of data unification in the age of AI. We empower businesses to break down data silos and create a central repository of information. This unified data platform provides the foundation for AI applications to learn, analyze, and generate insights that drive business growth.

Why Unified Data is Essential for AI

Imagine trying to build a house without a solid foundation. Similarly, AI applications cannot function effectively without unified data. Here’s why:

  • Improved Data Quality: Unified data eliminates inconsistencies and errors that plague siloed systems. This ensures AI models are trained on clean, accurate data, leading to more reliable and trustworthy results.
  • Enhanced Feature Engineering: Data unification allows for the creation of richer datasets by combining information from various sources. This empowers AI models to identify complex patterns and relationships that might be missed in isolated data sets.
  • Holistic Customer View: Unified data provides a 360-degree view of the customer journey. This empowers AI to personalize experiences, predict behavior, and deliver targeted marketing campaigns.
  • Streamlined Decision-Making: AI can analyze unified data to identify trends, predict outcomes, and recommend optimal courses of action. This empowers businesses to make data-driven decisions that improve efficiency and profitability.

Unlocking AI Opportunities with Unified Data

ETP Unify is a powerful cloud-native Unified Commerce Retail Solution. Built using MACH Architecture, it brings the best of retail and e-commerce functionality to the user in one, easy to use, and beautiful interface. With all information stored in one database, it empowers retail merchants and managers to have all the information and tools at their fingertips to serve customers across channels, helping create an amazing experience for consumers.

ETP Unify, a unified commerce retail platform, empowers businesses to leverage AI in several ways:

  • AI-powered Product Recommendations: Unified data allows AI to understand customer preferences and purchase history. This enables businesses to recommend products that are most likely to resonate with individual customers.
  • Dynamic Pricing and Promotions: AI can analyze unified data on customer behavior, market trends, and competitor pricing to optimize pricing strategies and personalize promotions.
  • Fraud Detection and Prevention: Unified data empowers AI to identify suspicious patterns and activities, helping businesses prevent fraudulent transactions.

The ETP Group Advantage

ETP Group goes beyond simply unifying data. We provide a comprehensive suite of services to help businesses leverage AI effectively:

Boost Sales with Intelligent Product Recommendations:

  • Personalized Suggestions: Leverage customer demographics and purchase history to deliver targeted product recommendations at checkout.
  • Matrix Factorization Algorithm: Generate highly relevant suggestions by analyzing product attributes and customer interactions.
  • Dynamic Cart Updates: Continuously refine recommendations as more items are added to the cart.
  • Dual-Screen Display: Streamline checkout with a clear view of recommendations for both the customer and cashier.
  • Upselling Made Easy: Increase sales by showcasing relevant products at the point of purchase.

Secure Your E-commerce Operations with AI-Driven Order Management:

  • Fraud Detection in Real-Time: Identify and isolate potentially fraudulent orders with our proprietary Machine Learning algorithm.
  • Advanced Anomaly Detection: Analyze order attributes like channel, product, quantity, discount, payment, and delivery mode for irregularities.
  • AI Scoring for Risk Assessment: Make informed decisions with a real-time risk score assigned to each order.
  • Inventory Optimization: Ensure efficient inventory management by prioritizing genuine orders and filtering out potential fraud.
  • Continuous Learning Model: The AI model constantly learns from new orders, improving accuracy and streamlining order processing.
  • Future-Proof Technology: Ongoing research and development pave the way for even more innovative AI applications within ETP’s Unified Commerce platform.

In the age of AI, unified data is the key to unlocking its full potential. ETP Group, as your trusted unified commerce partner, empowers businesses to break down data silos, gain valuable insights, and achieve significant competitive advantages. By harnessing the power of AI with unified data, businesses can transform their operations, personalize customer experiences, and drive sustainable growth.

ETP group is omni-channel technology partner at ET Great India Retail Summit & Awards 2024

Posted on by Omprasad Devadiga

The Economic Times Great India Retail Summit (GIRS) 2024 – India’s largest retail intelligence event – is being held at The Westin Mumbai Powai Lake, India on 15th & 16th February 2024. This exceptional two-day live event is poised to reshape the course of the Indian retail landscape. Bringing together leaders from every corner of the retail world, this conference and summit is a gathering of ambitions, innovations, and forward-thinking. With representation from diverse sectors, including FMCG giants, retailers, e-commerce leaders, D2C pioneers, policymakers, industrialists, industry experts, and technology solution providers, it promises an unmatched exchange of ideas.

ETP is the Omni-channel Technology Partner at #ETGIRS2024.

ETP Group is a leading Retail Software Solutions company with a 35 year track record of delivering top-of-the line retail technology products across 24 countries in Asia Pacific. ETP’s strength lies in its ability to provide robust and innovative retail solutions built with the latest technology, architecture and design. ETP V5 includes omni-channel modules like POS, CRM, Promotions, and Analytics so you can drive more traffic to stores, have a higher fulfilment percentage, and gain customer loyalty.

The “Great India Retail Summit 2024 (ETGIRS)” stands ready to script a new chapter in the annals of commerce. Prepare to embark on a journey where aspirations meet action, where innovations shape industries, and where the future of retail is not just imagined – it’s realized.

Do meet the ETP team at the ET Great India Retail Summit & Awards 2024 to know more about how ETP can help you in elevating your retail performance and e-commerce business. Connect with us to gain insights on how to kick-off your journey to creating amazing customer experiences!

Transforming Retail Experiences with Omni Channel Retail Solutions

Posted on by Omprasad Devadiga

Retail rapidly evolves, and customers seek seamless, personalized shopping experiences across multiple channels. In response to this shift, retailers are adopting omnichannel retail solutions to meet customer expectations and stay competitive. Omnichannel retail solutions integrate online and offline channels, providing a unified and consistent shopping experience. This blog post explores the benefits and impact of omnichannel retail solutions on transforming retail experiences.

Seamless Customer Journey:

Omni-channel retail solutions enable retailers to offer a seamless customer journey across various touchpoints. Customers can browse products online, make purchases through mobile apps, visit physical stores, or even utilize social media platforms for shopping. The integration of these channels ensures that customers can transition between different touchpoints effortlessly. For example, customers can start shopping online and complete in-store purchases or vice versa. This seamless experience enhances convenience and satisfaction, increasing customer loyalty and engagement.

Personalization and Customer Insights:

Omni channel retail solutions allow retailers to gather customer data from multiple channels, providing valuable insights for personalization. Retailers can deliver targeted marketing messages, personalized recommendations, and customized promotions by analysing customer behaviour, preferences, and purchase history. This level of personalization creates a more tailored and engaging shopping experience for customers, increasing the likelihood of conversions and repeat business.

Inventory Visibility and Fulfillment:

One key advantage of omnichannel retail solutions is the ability to provide real-time inventory visibility across channels. Customers can easily check product availability online and in-store, reducing the chances of disappointment due to out-of-stock items. Retailers can optimize inventory management and fulfilment processes, ensuring efficient order processing and delivery. For instance, customers can buy online and pick up their purchases in-store, providing a flexible and convenient option for shoppers.

Improved Customer Service:

Omni channel retail solutions enhance customer service by enabling seamless communication between customers and retailers. Customers can reach out for support through various channels like live chat, social media, or in-person assistance at physical stores. Retailers can respond promptly and provide consistent support of the channel the customer uses. This level of responsiveness and accessibility strengthens customer relationships and fosters trust in the brand.

Enhanced Brand Experience:

By embracing omni channel retail solutions, retailers can create a cohesive brand experience across all channels. Consistent branding, messaging, and visual identity create a unified perception of the brand in customers’ minds. Whether they interact with the brand through a website, social media, or a physical store, customers should have a consistent and recognizable experience. This consistency strengthens brand loyalty and helps retailers differentiate themselves in a competitive market.

Data-Driven Decision-Making:

Omni channel retail solutions provide retailers with valuable data and analytics that can drive strategic decision-making. By analyzing customer data, retailers can gain insights into customer preferences, market trends, and the performance of different channels. This data-driven approach allows retailers to make informed decisions regarding inventory management, marketing campaigns, pricing strategies, and channel optimization. Retailers can continually refine their operations and improve the overall customer experience based on data-driven insights.

Conclusion:

Omni channel retail solutions have revolutionized the retail industry by providing a seamless, personalized, and consistent shopping experience across multiple channels. By integrating online and offline touchpoints, retailers can enhance customer satisfaction, build loyalty, and drive business growth. The benefits of omni channel retail solutions, such as seamless customer journeys, personalization, inventory visibility, improved customer service, enhanced brand experiences, and data-driven decision-making, are transforming how retailers engage with customers. Embracing omni channel retail solutions is essential for retailers to stay competitive in the evolving retail landscape.

To explore the range of omni channel retail solutions and learn how they can alter your business, visit ETP Group.

Finally! A Retail revival, but for whom?

Posted on by admin

Etp-blog-naresh-ahuja
Two years ago I wrote about the struggles of the retail industry in my article “Retail is dead! Long live Retail”, it’s nice to see some of the predictions in this article come true! Time to reflect and see what’s next.

The US retail market, the bellwether of the industry, has finally started growing again. Retail sales are surging, up 6.4% YOY from last year this July. Store closures are down 22%.

The growth is being led by Retailers who are getting the consumer back, bringing e-commerce like service to their customers, with click and collect and curb-side pickups, concierge services, frictionless returns, store to home deliveries, and many other services. While physical retail is back, e-commerce continues to grow, interestingly a major part of this digital growth is being driven by retail giants like Walmart.

At the same time, we are seeing a number of brands and retailers heading down the slippery slope. Some of them household names. The market is clearly being divided into those who will make it and those who will not. These retailers have closed unprofitable stores, cut costs, reduced manpower, rejigged their pricing and merchandise, yet they are not able to make it out of the downward spiral. So what is the reason? Since we work with retailers across 22 countries and see some of our customers and friends in both categories, we can clearly see the difference in their approach. Some retailers see technology investments and related service costs as a necessary evil, they do not see them as strategic tools to help them win this wave of transformation both in the industry and the minds of consumers. These are the retailers who are endangered, though they can still turn around if they change their mindsets.

On the other had there are a number of retailers who are quietly embarking on large internal projects to change the way they work with consumers and the service levels they provide, transforming their technology and online presence, bringing Omni-channel and self-service initiatives to the table and using smart ways to price right and brand right and promote the right products to the right consumers. They have brought in change in their existing teams and brought on board a number of new retail experts, worked closely and deeply with technology and supply chain partners, malls and banks to bring about the transformation that’s required. They are making great progress and have a shot at winning the retail race.

The race is still open, and like in any race, there will be winners and losers. May the best retailers win!

This article has been written by:

mr-naresh-ahujaNaresh Ahuja, Chairman and CEO, ETP Group

Naresh as the Founder, Chairman and CEO of the ETP Group leads the company with a clear focus on bringing enduring value to customers through best practices mirrored in software applications. Spanning 30 years of focus on retail domain expertise and IT development, ETP today, has a strong customer base of market leaders in more than 22 countries across Asia Pacific, India and the Middle East, and is Asia’s leading Omni-channel Retail Software company.