2020 Diwali/Christmas Predictions: Retail Trends for the new shopping landscape

festival

There’s no doubt this festive period will be unlike any other, with more online shopping than ever. Retailers must have a holiday-specific plan that gives consumers confidence to purchase from them. It’s vital brands ensure their websites offer a seamless shopping experience and make it easy for customers to find the answers they seek through Q&A, reviews, and brand response to maximise revenue opportunities. Over half of brands & retailers are investing more in e-commerce website upgrades this holiday season. Speak to us

1. Acceleration of online – With significant growth in page views and order count, consumers now adjusted to online shopping and will remain a priority channel. Order volume in retail is fluid, rising, and falling dramatically with seasons, trends, consumer desire, environmental factors, and the onward march of eCommerce.

2. Innovative ways to fulfillment space – Order Orchestration (profitable for you and customer), O2O Conversions (online & in-store), Curbside Pickups, Virtual Queuing and Trials, and Reserve in-Store

3. Discount deals – 2019 saw page views increase 31.4% and order count rise 65.9% compared to usual – COVID-19 only looks set to exacerbate this, purchase gifts during holiday sales to take advantage of the deals consumers consider their finances more carefully.

4. Gift research – July (continue in August and September) has one of the highest rates of UGC interaction, highlighting that shoppers are engaging with customer reviews, photos, and questions and answers as they research gifts online

Talk to our Team of Architects and Omni-Channel Business Analyst to experience how we have assisted 10 out of the top 20 retailers.

we assist in the complete journey right from strategy, consulting, technology execution, and later application management.

Retail Insights (Your Omni (or Digital Officer)- Where Technology Meets Retail/Brands.

sales@theretailinsights.com ||www.theretailinsights.com|| Watsup – +91 9945872535

The Retail Insights Announces Adobe Strategic Partnership – Bronze Level Partner

Adobe bronze solution partner

Amid the pandemic, recognizing that the future of digital transformation revolves around experience-driven commerce in B2C and B2B space, Retail Insights has announced a strategic partnership with Adobe, as a Bronze-level partner. Magento Commerce has long been known as a leading commerce Platform, and since its inception, Retail Insights has been delivering projects of Magento commerce omnification. Capitalizing on our functional retail, commerce expertise, Cloud, DevOps, delivery capability and leveraging Magento Commerce’s unique position to cater to most of the leading Brands, Retail organizations, and other verticals, The Retail Insights will place its primary commerce focus on helping deliver unparalleled retail and commerce solutions by utilizing the scalability and flexibility of the Magento Commerce Platform and our point solutions or accelerators.
What is in it for The Retail Insights Customers?
For Retailers and Brands, as the focus turns towards going Online with overall Digital Transformation, Retail Insights is confident that as the industry moves more and more towards platform-based solutions, its clients will appreciate the complete Magento offering- Commerce (B2C, B2B, and Marketplace), BI and Order Management. With the complete commerce solution along with the out-of-the-box PWA studio for the presentation layer, affords clients the opportunity to pick the best solution approach for their Digital transformation journey. Along with Adobe partnership, our clients can enjoy solutions from Salesforce Commerce, Kantar, Fluent Commerce, Retail Unity, and Intel.
To overcome customer’s business challenges, we leverage our deep Magento Commerce, and bespoke solutions expertise, coupled with our Omni-Channel point solutions- Dark stores, Single View of Inventory, Back Office Reconciliation Rules, Contactless – Store Pickup/Reserve, Virtual queues, Pricing, Loyalty, Promotion Engine, Scan and Try, OMS and merchandising planning & forecasting. We help our customers lower the retail technology operations cost considerably by using our accelerators for Commerce Omnification.

Adobe bronze solution partner

“The complete Platform offering, scalability, and agility of Magento Commerce makes it an easy choice for our strategic partnership as we continue to strengthen our expertise and build out products and tools for our clients around Magneto Commerce,” said Vishnuu Varun, CEO at The Retail Insights, highlighting the primary reasons for this strategic partnership.
How Does Magento Commerce Benefit from The Retail Insights Partnership?
The Retail Insights being a focused and niche player in Omnification solutions for Retail and Brands with domain understanding and capabilities make it an ideal partner for Magento Commerce. The Retail Insights has over 5 years of commerce experience, delivering cutting-edge solutions on platforms and bespoke solutions makes it a compelling reason for customers to consider as a Digital Transformation Partner.
Reach Out To Our Experts
Over the past 5+ years, we have completed 100+ digital omnification projects globally. We have depth and breadth for us to be the number 1 Omnification digital consulting teams in the world. With our proprietary processes and applied 100 best practice commerce to fuel growth with insights coupled with retail solutions, we can deploy 40+ conversion optimization solutions, enriched with the customer experience, and facilitate its use for internal users.
Contact us if your organization needs assistance with your Magento Commerce implementation.
About The Retail Insights
RETAIL INSIGHTS is an AWARD-WINNING Global Retail Tech and Omni-Channel Commerce Technology Company. Based in the USA with representation in the GCC (Middle East), UK, and India.
Our D.A.R.E (Different, Anywhere, Relationship, Experience) solution framework has helped retailers and brands gain an edge over competitors. One-Stop Solution Centre (Technology + Domain) helps retailers/brands formulate effective online-2-offline (O2O) and Digital strategies to get ahead of the business curve.

With strong domain expertise, we speak our clients’ language and handpicked technology solutions, we are a wonderful team driving next-gen omnichannel solutions where Technology Meets Retail/Brands.
Retail Insights is the pioneer Retail and Omni-Channel Technology agency specializing in Digital Commerce Platforms (Magento) Customer Fulfilment (OMS/TMS/RMS) Customer Engagement (Loyalty & CRMs).

Is The Inculcation Of IoT A Boon For Businesses?

it

Further statistics by an international publication state that on average, there would be around 40 billion IoT devices by 2027. Now, this is an astounding figure, that is quite mind-boggling, not to mention doubtful as well. Yet, most astonishing reports state this is in fact true. Businesses across several genres have been religiously deploying the use of the Internet of Things (IoT) in their daily operations. Tech firm Diligent Global believes that IoT can be effectively leveraged for managing operations and business continuity by aiding people in adopting contactless technologies.

Inculcation Of IoT

Pradeep Kumar V, Founder & CEO, Avanze Solutions Inc says, The need to minimize physical interactions is a catalyst for IoT adoption, potential efficiency benefits from IoT have gained greater significance like never before. IoT, coupled with cloud technologies, will gear up the industry players to cater to the growing lending/ refinance market thanks to low-interest rates.”

According to a report by Fortune Business Insights the global market for IoT, which was valued at around $190 billion is forecasted to reach $1.11 trillion by 2026, at a 24.7% compound annual growth rate(CAGR). Additionally, Ericsson estimated that the cellular growth of IoT would be leading to approximately 3.5 billion cellular IoT connections by 2023, with an annual anticipated growth rate of 30%.

How have the retail players accepted the use of IoT, especially at a time when it is highly essential for businesses? Vishnu Gullipalli – CEO & Solution Advisor, at Retail Insights, believes that during the pandemic, the integration of IoT is not an option anymore, yet very much a necessity. “With IoT solutions at bay, the retail segment could improve customer experience, help gain insights to personalize and analyze demands, monitor inventory, modernize data, intelligent monitoring of business, reduce human efforts & errors, save time, boost sales, and invariably add to growth.”

How to run a store in a pandemic?

run a store in pandemic

Store traffic may be down, but sales don’t need to follow — improving shopper conversion is the key. So how to run a store during pandemic?

run a store in pandemic

  • Checklist for Reopening Retail/E-commerce Stores with New normal customer journeys
  • Contactless Solutions – Lockers, Drive-Thru, Kiosks (Endless Aisles), Delivery Options – Reserve, Ship from Store, etc.
  • Take your CRM to the next level and treat your best customers like VIPs, Draw Consumers in, and Keep Them in, with Loyalty Programs
  • Elevate Your Ecommerce Operations to the Cloud
  • Automate Your Fulfilment
  • Forecast demand with data, not guesswork
  • IN-STORE STAFF AND TRAINING and re-sizing the associates, shift timings, and new processes
  • Automating Backoffice clerical works

Talk to our Team of Architects and Omni-Channel Business Analysts to experience how we have assisted 10 out of the top 20 retailers to go Omni with a seamless transition. We will assist you with how to run a store during pandemic.

we assist our customers in the complete journey right from strategy, consulting, technology execution, and later application support services.

Retail Insights (Your Omni (or Digital Officer)- Where Technology Meets Retail/Brands.

sales@theretailinsights.com ||www.theretailinsights.com|| Watsup – +91 9945872535

Curbside Pickup

Curbside Pickup

Retail Insights Offers an Affordable Application to Help Retailers Reopen and Operate Online with Curbside Pickup

Curbside Pickup

Retail Insights Curbside Pickup Application — How It Works
It integrates with eCommerce solutions — Magento, Salesforce, and Shopify, an affordable and powerful website for business;
By adding a delivery option to the online store, orders marked as ‘curbside pickup’ will flow directly into the application.
Accessible from any mobile device, the application allows retailers to view their orders and communicate the status of each order to their customers via mobile text messaging.
The text messages inform customers where and when to pick up their orders; and contain a link that, when clicked, automatically alerts the retailer they have arrived.

Should you need further demos, assistance, or clarification, our retail experts are standing by to assist.

Retail Insights (Your Omni (or Digital Officer)- Where Technology Meets Retail/Brands.

sales@theretailinsights.com ||www.theretailinsights.com|| Watsup – +91 9945872535

#ecommerce #retailinsights #digitalcommerce #unifiedcommerce #shopify #omnichannelretail #salesforce #directtoconsumer #retailtransformation #magentoecommerce #ecommercedevelopment #smartretail

Shifts In Consumer Behavior Post-Pandemic: How to be Prepared for it

Consumer Behavior

#retailstrategy #retailexperience #omnichannel #retailtransformation #retailsolutions #commerce #ecommerce #smartretail #salesforcecommercecloud

Day-to-day life for many around the world has transformed in ways that none of us would have imagined a few months ago. Recuperation to normal – physical presence and interaction will be gradual. While the world was steadily shifting from retail to online shopping, due to the current pandemic situation, retailers saw a spike in people finding online shopping more convenient as their consumer behavior changed. It is evident that the retailers will be feeling the impact of the coronavirus crisis subsequently to when the quarantine, lockdown and social distancing rules have ended.

Consumer Behavior

The current pandemic is likely to create permanent shifts in consumer behaviors and sentiments that the retailers need to begin preparing for. Eventually, new behaviors will emerge and become new habits. The shift in consumer’s mind, their preference and purchasing norms will transition the future of retail. To stay relevant, redefining and shifting gears from the old normal to future reality is essential.

I believe that there is one factor, above all the others, which will be the difference between conversion and aversion i.e. ‘convenience’. Retail survivalists are ‘The Kings of Convenience’ namely; , Lowes, .

The retailers with ongoing digital transformation programs have already achieved some agility, flexibility and responsiveness to steer through a rather difficult course while evolving even during this time. Let’s talk about the ‘new normal’ possibilities in the near future and how businesses can be prepared for it.

Contactless: Similar to cashless – “contactless” has created a new dimension for the everyday retailing vernacular. Introducing contactless options under the retail through curbside pickups, virtual queue management, and contactless dining solutions is what will help retailers build trust in shoppers. Making them walk into brick-and-mortar stores will only be possible by creating a completely contact-free shopping experience with zero human interaction and cashier-less stores. Self-help kiosks and apps are solutions where people can find products, aisles and shelves about products they need to purchase and self-assist kiosks including for product information and self-checkout kiosks as well.

Elevating E-commerce Operations to the Cloud: Considering E-commerce as a long term strategy would be wise. Retailers would need assurance on reliability, trust and convenience. Currently, making it as easy as possible for consumers and customers to shop with you will sustain the business. Delivering virtual experiences and interacting with shoppers online, rather than focusing primarily on drawing crowds to the stores is essential. Improving website, and mobile interface and user experience would be helpful to continue engaging with the customers.

Automate: Automation is more important than ever. Adapting by evolving your tech stack to incorporate these components will arm your business with what it needs to weather the storm.

a) Retail Automation Essentials:

Putting retail and technology together improves the business outlook and is required to ensure customer retention. Retail automation revolves around intuitive rule-based workflow, it automates the order-to-cash process, less time consuming and more efficient as it lessens human errors, and as a result; increases agility.  Retailers will also look at reducing the total cost of operations through technology, which will enable businesses to have a real-time view of their assets, liabilities, it’s current health, and maintenance to improve agility

b) Demand Planning Essentials:

Forecasting demand with data is essential not just guesswork. It is critical to forecast demand after the crisis. Companies should understand the factors responsible for growth or decline in demand of a particular product to determine the future demands and forecast. Automatic replenishment forecasting that align with sales predictions – Demand forecasting and planning based on automated forecast algorithm selection, self-adjustment and a variety of data management utilities enables a business make accurate predictions and simplify the planning and management process. Real-time KPI reporting to see how inventory is moving also helps in forecasting and adjusting the inflow and outflow. Additionally, identifying overstock to improve inventory turnover helps in timely depletion and accurately identifies where the demand bends.

c) Analytical Intelligence:

Application of AI tools in retail analyses immense volumes of data to learn the underlying patterns and evolve with new developed circumstances. Retail analytical essentials such as analysis of sales and performance are critical to continuously learn and adapt to the consumer behavior. AI-enabled systems also support real-time accounts payable and receivable to boost business productivity and on-demand P&L and balance sheet generation and low-inventory quantities definition

d) Loyalty Programs:

Artificial Intelligence and automation of processes, from engaging with customers, guiding them through personalization of experiences and virtual shopping journeys using AR and VR is the next big boon in retail segment. The retail industry will see a new kind of revolution via digital transformation to not only sustain business but to draw more consumers in and keep them intact with Loyalty Programs. Automation in retail will help retailers and sellers to use e-commerce and point of sale. It will allow automatic creation and assistance for promotional codes and vouchers depending upon customer’s predictability and user-generated behavioral record. Integrations with industry-leading gift card, loyalty and promotions providers, and most retailers can assure consumer loyalty and stickiness to a brand.
With normal life on hold for now, there’s no better time to focus on local, take the time to get it right and hopefully come out of the crisis in better shape than ever. Retailers will require deeper insights about their supply chains. Retailers with a digital presence will only thrive.

Offline 2 Online Decision Criteria

O2O integrations

“I’m not sure whether I really need to re-platform. ?
• Can you rely on your platform and run even during your busiest sales periods?
• How much maintenance does your current platform require?
• Do you find it easy to manage the backend of the store, and add new features and tweaks to the website’s design?
• Is your current platform actively helping you scale?
• Are you worried about any security breaches?
• How sure do you feel that your customer’s data is safe?
• Are your customers consistently complaining about a negative UX (user experience)?

Moving forward, the Retail Insights team will evaluate your core needs as an enterprise, do the heavy lifting of O2O integrations, and development, and automate testing workflows and processes. we could help in the transition as quickly and seamlessly as possible. We will provide you with the best O2O integrations.

O2O integrations

Retail Insights Omni Channel (Digital) Technology Solutions

sales@theretailinsights.com || Watsup – +91 9945872535

#magento #omnichannel #retailinsights #ecommerce #digitaltransformation #salesforcecommercecloud #retailing #commerce #o2o #unifiedcommerce

Predictive Ordering

Digital Commerce for
Retail Insights Enables ‘Predictive Ordering’ for Digital Commerce
Retail Insight, the leading innovator in Omni (Digital) Channel Technology solutions developed predictive ordering capabilities for CPG manufacturers in their B2C2B e-commerce initiative.
Digital Commerce for
The new functionality serves to further tailor and customize each Buyer’s (small business/distributor/consumer) shopping experience. As Buyers get engaged on the platform, data is collected, fed into algorithms and analyzed. This analysis provides not only product recommendations and accurate quantity estimates but can identify order abnormalities in an effort to curb human error in the stock and finance reconciliations.
Retail Insights pure play Omni Channel (Digital) Technology Development Company#retailinsights #digitalcommerce #retailinnovation #omnichannel #unifiedcommerce #commercecloud

Improving the Shopper Conversion is the Key

Shopper Conversion

Improving the Shopper Conversion is the Key

Like online retailers, physical retailers need to focus efforts on converting the traffic that they do receive – it should be treated as a precious, non-renewable resource.

learn about A/B testing physical stores, how to identify “conversion friction,” and how BOPIS, Reserve In-store, Digital Coupons, and One Customer are influencing conversion.

Shopper Conversion

Connect with us today for demos and live examples of how we enabled retailers/brands to formulate the right technology stack and implementations. (or digital strategies) to be ahead of the business curve. We will provide you with the best Shopper Conversion key.

Retail Insights 100 % Omni (Digital) Technology Company

#digital #retailing

#commerce #ecommerce #customerexperience #digitaltransformation #magento #omnichannel #retailinnovation #mobilecommerce