Retail IQ: Building the Omnichannel Ready Enterprise

Retailers may be tired of hearing the term ‘omnichannel’, but are even more tired of finding a way to solve it.

While trends show that consumers are demanding more ways to shop, (online, mobile, tablets, catalogue) and a greater selection of delivery options (next day delivery, click and collect, and 3rd party services), retailers are investing more capital into building an omnichannel enterprise that delights the customer and generates higher revenues and profits.

As more information is collected from shoppers, retailers need to uncover actionable insights from these exponentially growing data streams. Leveraging this information will help retailers to building a dynamic and responsive supply chain, catering to the consumers’ specific taste and criteria.

Customers expect to be able to shop anywhere, anytime and savvy retailers are reinventing themselves to meet this demand. In order to successfully implement a cross-channel approach, retailers need to build - and consistently
update - their omnichannel platforms. Former disparate systems need to work in seamless unison across the enterprise.

More and more information is collected from shoppers at every turn and forward-thinking retailers are able to build data-rich shopper profiles and uncover actionable insights from the never-ending stream of data. This information can be used in countless ways and leveraged to build a more dynamic and responsive supply chain and guide a mobile-equipped workforce stationed on the sales floor.

Omnichannel retailing offers a host of new business opportunities but requires significant investment - retailers must build and maintain an integrated platform that seamlessly shares data across the enterprise.