IRF 2016 Special: Relevant Retailing – Shoppers’ expectations, retailer’s priority

IRF 2016 Special: Relevant Retailing – Shoppers’ expectations, retailer’s priority

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, by its very definition, touches all parts of a company – marketing, IT, customer services, physical stores and retail websites and apps. An strategy usually requires significant investment and maybe even a management rejig.

Relevant retailing: Shoppers' Expectations, Retailer's Priority
Omnichannel by its very definition touches all parts of a company including marketing, IT, customer services, physical stores and online

Simply providing consumers with an e-brochure of items in a store does not cut it anymore. A store that provides no more value than its online counterpart is on a one-way journey to failure.

A company which is constantly involved in an offline-online revenue civil war will never be able to develop a working Omnichannel strategy. Both will need to work together to cater to the evolving, empowered consumer and towards capturing his wallet share.

Companies also need to distinguish themselves through more creative means and by catering to all consumer demands, since Omnichannel is consumer driven.

To educate retailers on what Omnichannel actually entails, we bring you The India Omnichannel Forum 2016.

IOF 2016 is a tailored and one-of-its-kind technology forum for business owners, business leaders and technology teams to meet, engage and conceptualise the next-generation of consumer experiences. The vision of the forum is enriching the quality and expanse of retail experiences across physical and digital worlds through intuitive consumer engagement and technology enablement.

We bring you a run-down of key sessions at IOF 2016:-

Analytics & Retail
In the beginning analytics was about loyalty, market basket analytics, up-sell, cross-sell, associations and correlations; today it has extended to abandoned cart, dwell time, lost sales, availability, replenishments, merchandise strategies. Where is the future of analytics for a true Omnichannel retailer and those on either side (physical and online).

Cloud in Retail
Whether it’s powering the mobile point-of-sale (POS) system in the hands of associates who are now free to roam the retail floor or allowing a fortunate few to skip the line and pay via Square, cloud has made stores more mobile and interconnected.

Optimising Customer Engagement
Customers use multiple devices and channels interchangeably, from desktop to tablet to mobile on their path to purchase, before potentially purchasing online, in store or by phone. The session focuses on how to optimize cross-channel experience, how to manage in-store operations, what works best in driving revenues and experiences in an Omnichannel world.

Shopping on the Go
Choices has made the customer fickle of mind and habit, they now expect to have information at their fingertips linked to their ability to buy online or in-store. Retailers evolving from either end have differing abilities and connect; translating holistic thinking into reality poses challenges and opportunities.

IOT – Reinventing Retail
Consumer demand for convenience, product availability, and both personalized and contextualized interactions will drive retailers to adopt multiple IOT technologies in the coming years. IOT also has big implications for the in-store marketing efforts of retailers and brands. Connected devices – from POS and cameras to readers and beacons – can all help drive better, easier experiences for shoppers.

Supply Chain: Solving Supply Efficiency
For physical retailers it is about timely store replenishment, for e-commerce it’s reaching the customer, and then for both the challenge is reverse logistics (returns from customers, or unsold merchandise in stores). How can process efficiency be enabled using technology?

Locking Customer Loyalty
Loyalty is no longer just about earning and burning points; marketing is not just about mass mailers and advertisements on the browser or mobile. Understanding the customer has been the ultimate goal for retailers to gain wallet share; strategies and technologies that enable retailers’ micro-segment and target customers.