For every retail business, it is very important to know their omni-channel shopper in order to be able to provide the right customer experience they desire across all channels. The above video highlights the importance of mobile devices used by shoppers to research for inventory availability from their home, on the way to the store and even while in the store.
ETP’s value proposition is its unique ability to create innovative retail software solutions. ETP delivers domain expertise through it’s best practices, knowledge base and a team of consultants adding up to 1800 man years of retail experience in various retail verticals such as apparel, footwear, electronics, mobile phones and accessories, furniture and home furnishings, luggage and handbags, books and stationery, jewelry, timepieces, sports goods, health and beauty and convenience stores. ETP helps its customers get it right in retail.
Mono-channel retail and the digital shopper are yesteryear. Today’s consumer is a 360° omni-shopper who researches for and makes her purchases from all angles, as she considers an quickening set of content, payment methods and offers.
Retailers and manufacturers alike must cease to focus on an exclusive channel. In fact, their target must not be the channel, but the master of multiple channels: the omni-shopper. The retailer who does so intelligently will know where to place the next bait. Because the consumer is already looking around and in all probability, is already a step ahead.
– Ross Stokes
WOW, that was awesome, I’m so happy!! … and I want to go back and experience that again and share it with my friends, orWOW, that was horrible and can’t believe I wasted my time and money!!! … and I never want to ever experience that again and I don’t want anyone else to have to experience it either.
I walked out of there with a new pair shoes, not the best value for money shoes I’ve bought but definitely the most memorable pair.
We all have horror stories and memories from bad retail purchases and store experiences.
Bain has written an article “A Fresh Look At Store Labor”
The article highlights “Winners adapt their store labor model to what matters most to customers, they zero-base their operations instead of relying on what worked for them in the past, and they are systematic in mobilizing store labor for the required changes in behaviors, activities and processes.”
They include 8 useful starter questions to help a retailer explore whether they are empowering their store operations.
Nothing new other than the enabling technology.
Ross Stokes, Regional Director, ASEAN-ANZ, ETP Group
Ross brings a diverse corporate and personal set of experiences to his role of Regional Director, Asia Pacific, for ETP. His business experience aids in understanding the various challenges retail owners and executives experience while growing their business and successfully supporting their desire to improve retail management processes and systems to achieve optimal profitability.
Consumers across the globe are shifting from their traditional shopping patterns and adapting to more modern, digitally driven methods of purchasing. This shift in the shopping behavior of new age consumers has been a game changer lately for the retail industry. Businesses have no choice but to accept this change and to adapt to it. And, the everlasting retail axiom ‘customer is king’ has never been truer than now. Retailers need to be cognizant of this and go out of their way to please them. Hence, the motto for any customer centric retail business should always be surpassing their customers’ expectations and not merely satisfying them.
With the tremendous influence of ‘omni-channel’ in retail, the biggest challenge lies in identifying customer preferences as to when, what, where and how they shop. The impulsive switching by customers between channels while researching or shopping can be overwhelming for retailers to keep track of, analyze and accordingly, make provisions for meeting the customer needs. If retailers are unable to match the pace of their customers’ arbitrariness or are not present when and where their customers want them to be, with all certainty, such retailers won’t be able to sustain for long, leave aside gaining profits.
Availability is the essence of being omni-channel, time and place being important factors. If retail brands don’t want to miss out on a single opportunity of interacting with their customer, they ought to be a business which is everywhere the customer is, and every time the customer wants. For example, if a brand conscious customer is looking for her favorite brand in a particular location but is unable to find it in a physical store there, the retail brand must ensure that the customer is still able to explore and purchase the products through an alternative medium. To go the extra mile, the brand may also deliver the goods at the customer doorstep. In simple words, retail businesses should be ‘everywhere’ ‘every time’!
Retail success can be visualized as a two stage process. It is not just about getting a customer to enter the retail store or to access the e-commerce website to shop, but also closing the sale. And both these stages are potential challenges and battles that retailers need to win, thanks to the ever-growing and fierce competition.
Recent trends suggest that shoppers are constantly looking for offers and discounts, and are likely to make a purchase from retailers who sell merchandise at discounted prices or offer free shipping and so on. But that’s not it. Customers are also seeking more information regarding products and services that interest them. All this can be viewed by retailers as probable opportunities to offer something extra to their customers by making it more relevant and personalized.
Busy shoppers value quick reminders about the products that they had left in their shopping carts during their previous interactions or even about those that they may have been researching for or had shown interest in previously. Personalized offerings such as tailor-made discounts, promotions or other benefits, during auspicious occasions such as birthdays and anniversaries or social occasions such as festivals really go a long way in influencing the customers’ decisions while making their next purchase. Additionally, personalized messaging and recommendations provide customers with the information that will enable them to determine products that are the right fit for their needs. Information about frequently purchased products, merchandise that can be coupled either together or with special offers and discounts also persuades customers to make a purchase. Location based or proximity marketing such as in-store discounts or free shipping can appeal to shoppers, driving them to buy. A superior after sales service could go a long way in boosting shopper affiliation towards the retail brand further as being interactive and engaging with customers helps keep their interest sustained in the brand.
Personalization, if done appropriately and by being conscious of not overstepping limits, retailers can make the customers feel special and important. In a more customer-centric retail environment, where the focus is on the customer more than ever before, providing a personalized service that is valuable and memorable can unquestionably be the differentiating factor for customers to choose the retail brand they would want to be most associated with. As retailers streamline their omni-channel retail business operations and focus on enhancing the customer experience, customer profiling can enable retailers to understand their customers better to be able to offer them a personalized shopping experience.
ETP International, a leading provider of Omni-channel Retail Solutions in Asia, India and the Middle East, is proud to be recognized with the ‘Retail Leadership Award’ at the 12th Asia, Africa, GCC Retail & Shopping Centre Congress, held in Mumbai on 19th February 2016.
ETP’s 25 years in the retail space across more than 20 countries has resulted in ETP building an enterprise class, scalable, and secure omni-channel platform for large to mid-sized retailers. With over 300 global brands and more than 25,000 stores running on ETP systems, ETP has proven its leadership in both innovation and its ability to deliver. Founded in 1988, ETP is the leading Omni-channel Retail Solutions Company headquartered in Singapore and present in more than 20 countries across Asia Pacific, India and the Middle East. ETP has executed over 500 enterprise software projects at 25,000+ stores and 100+ warehouses and factories.
“We are very happy to be recognized for our leadership in the retail industry, at this moment in time when we are helping retailers transform from old brick and mortar models to a fully omni-channel model and embrace the new age consumer”, said Naresh Ahuja, Chairman and CEO, ETP International.
Receiving the award, Mr. Raj Jagasia, Executive Director, ETP International said, “ETP thanks its customers and partners for the long-standing relationships that have contributed to ETP’s remarkable success in the retail technology space. Through continuous research and development, ETP remains committed towards building forward looking innovations in Omni-channel Retail Solutions to help our customers drive operational excellence and achieve profitable growth, thereby getting it right in retail.”
The winners have been selected following a rigorous selection process. The Asia Africa GCC Retail & Shopping Centre Congress, represented by 40 countries from across Asia and the world, is a global platform to promote world-class retail practices that are a reflection of the vitality of retailing during a time of reinvention, as well as its increasing significance to 21st century business. The awards were handed out in the presence of company chairpersons, presidents and CEOs of leading international and national retail chains and brands and various industry thought leaders.
