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Retail

Retail Industries

The retail industry is witnessing a paradigm shift. Rapidly evolving technologies, changing customer expectations, and emerging digital firms are driving widespread disruption. Clearly, from a plethora of new products, markets, and customer segments to the burgeoning expansion of sales and marketing channels (like mobile and social commerce), retail is at a tipping point. Customers are now demanding rich shopping experiences that are personalized, hyper-connected, and engaging. Additionally, several forces are revolutionizing the landscape: the explosion of data and connected devices, software defined infrastructure, cloud enabled as-a-service and experience, and outcome-driven digital platforms. This makes it imperative for retailers to showcase agility in tech adoption and business process optimization.

In fact, 21st. century organizations are recognized by five key tenets: experience-centricity, outcome-based, agile and lean-focused, service-oriented, and ecosystem-driven.

However certain challenges remain. These include lack of business models, siloed applications, and the inability to deploy new technologies. These impede the delivery of a seamless, omnichannel shopping experience. To overcome these obstacles and future-proof businesses, a robust and end-to-end strategy is the need of the hour.

Baynetwork leverages the Mode 1-2-3 strategy, focusing a concurrent 3-point spotlight on existing as well as future growth areas of the business. This helps secure enterprise competitiveness, propelling success in the digital age. Baynetwork enables retailers to boldly navigate the new digital age by transitioning from ‘traditional efficiency oriented solutions to business outcome oriented conversations’. Our collaborative model helps carve a successful path to enterprise modernization.

The rapid advancement of mobile devices is transforming the retail world of business. Aiming to conduct operations seamlessly, retailers are making the shift towards enterprise mobility through next-generation smart devices. Consequently, they are adopting mobile apps for an enhanced customer experience.

Baynetwork addresses both strategic and operational challenges. An integrated suite of mobile apps— it enables faster implementation of mobile apps, and is conducive to operational efficiency.

Retail Sales components and features incorporate latest technological trends such as NFC coupons/ payments, geo-fencing alerts, and visual store shelves using augmented reality. These encompass:

In-store item inquiry and sale including QR code scanning for quick checkout, and greater cross-channel inventory visibility

Configurable KPI dashboards that facilitates monitoring of store performance in real-time

Mobile planograms using augmented reality-enabled virtual store shelves with workflows planning, assigning, executing, and auditing planogram resets

Customer-centric marketing involving mobile promotions, access to coupons, and exchange of feedback

In-store system alerts for stock levels and customer arrival

Dashboards enabling corporate users to compare stores and review performances

Dashboards for vendors to monitor and compare performance across timelines and with other vendors

Mobile workforce management with real-time view allowing allocation, approval, and monitoring of store personnel tasks

Conclusively, there are several business benefits of using Retail Connect’s mobility solution, including an optimal in-store experience for both customers and retailers. Sales and customer footfall increase, as does store personnel productivity. Mobile agility across the enterprise is enhanced, and business processes across the retail value chain are reformed to boost overall performance radically.

Profitability, mobility, and customer loyalty are major issues facing retailers today.  Mobile devices are making it easy for consumers to comparison shop resulting in increased margin pressure. Creating a better shopping experience to nurture customer loyalty has become a key initiative for retailers.

Whether your store is physical or virtual, customer service can’t suffer while you cut costs and streamline operations to maintain margins. Retailers must leverage IT to fullest advantage without tying up capital on infrastructure or using skilled resources on daily operational tasks.

By off-loading IT responsibilities to Baynetwork, retailers can gain more control of their IT costs while ensuring PCI compliance, security, capacity for peak operating times, and high availability so that skilled resources can focus on projects that address the current needs of the business.

Common Challenges

-          Operating across several or many locations with centralized administrative services

-          A high risk of credit card theft that can jeopardize PCI compliance

-          Tracking sales, inventories, and costs across multiple locations is difficult with many POS vendors leaving much to be desired

-          Supporting customers over the phone which continues to be an essential component of many retail businesses

-          Providing high-quality wireless internet without comprising security or corporate network performance

That’s a lot for any retailer to deliver. Especially when you consider that most businesses have tight budgets and small staffs. And the challenges of meeting a retailer’s IT demands are likely going to get harder in the future. There is constant pressure to roll out new services and applications. There are higher customer expectations on availability. And cyber thieves keep evolving their methods using ever-more sophisticated attacks every day. 

Our Experience in the Retail industry

-          Cut weeks out of new office set up schedules with standardization and outsourcing

-          Reduced missed calls and hold times with centralized phone systems

-          Brought IT systems into PCI compliance 

-          Deployed POS and similar applications

-          Offered high-quality wireless to their customers

Teaming with Baynetwork brings retail industry expertise, best practices, and the extra manpower needed for your IT environment.

We provide strategic consulting that combines the business and technology skills to improve the performance of the internal team.

Our team offers professional services to help with turnkey solutions that require certified experts with industry knowledge. And we offer managed IT services to ensure success. 

Contact Us today to speak with a technology expert and discuss your business objectives.

 

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