NRF

Data as a Product: 5 Benefits of Rethinking Your Multi-Customer Solutions as an Omni-Customer Platform

In 2013, at the SAP National Retail Forum (NRF), the results of a Retailer survey concerning Omni-Channel maturity were presented. The findings demonstrated the degree to which Retailers were taking advantage of Omni-Channel opportunities. The results indicated that although 85% of Retailers considered themselves Omni-Channel, only 8% of the same Retailers provided an ability for a customer to transact in multiple Channels, and, even more concerning, only 7% of these Retailers indicated that they had a single view of the customer across their channel offerings. This issue remains important for Retailers today. In fact, Forbes lists the ‘(Creation of) New Revenue Streams’, including ‘data-as-a-product offering’ to be the #1 strategic issue facing CIO’s for 2016.

Retailers today are keen to capture as much information about the customers shopping their various platforms. However, according to the survey commissioned by SAP, the vast majority subscribe to a ‘Multi-Customer’ collection model. Customer data sets are often found to be independent of each other; Loyalty, eCommerce, POS transactions, Private Label Credit Card, etc., each have distinct data sets that result in both customer overlaps and customer gaps. A customer may have not shopped on a Retailers website, but is a loyalty member and holds a Private Label Credit Card. This single customer’s information could reside as data points within various databases and each of these customer records could, and likely will, contain differing information that is invisible to other Channels.

Data-as-a-product can be defined as ‘the use of a Retailers comprehensive data set as inputs into descriptive and predictive analytical processes’. Consolidating, simplifying and enriching this data set aids in building a strong and personalized customer relationship with your organization and moves you beyond the simple reporting paradigm to which most retailers continue to subscribe. During our recent webinar regarding the functional/technical […]

SAP CAR Providing Retailers with Better Tools to Target Customer Base

“Retailers that extract new and meaningful insights from their data (loyalty and/or transnational data) will be better equipped to reward and retain a more loyal shopper base.”  Tools like SAP CAR and consuming applications now provide retailers with tools that can efficiently mine and present actionable information from their vast pools of data to provide consistently better offers for their target customer base.

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SAP Customer Activity Repository is a foundation that collects transactional data that was previously spread over multiple independent applications in diverse formats. The repository provides a common foundation and a harmonized multichannel transaction data model for all consuming applications.

Retailers can use SAP Customer Activity Repository to gradually transform their system landscapes from traditional database technology to the revolutionary, in-memory database technology.

SAP Customer Activity Repository includes the following features:

  • POS Data Transfer and Audit (POS Data Management)
  • Multichannel Sales Repository (MCSR)
  • Multichannel Sales Analytics
  • Inventory Visibility Analytics
  • On-Shelf Availability
  • Predictive capabilities, leveraging the Demand Data Foundation (DDF) and Unified Demand Forecast (UDF)

By | 2018-04-23T10:32:52+00:00 March 9th, 2015|Categories: In the News, Market Trends, NRF, Retail|0 Comments

RETAIL : More people use mobile devices to buy groceries than any other retail category

Grocery companies should consider prioritizing their mobile offerings as they shape their omni-channel strategies.  Food shoppers buy products differently than apparel or hard goods shoppers.  A robust mobile channel will be required to be competitive for most food retailers.

 Post based on Original Article Source. When it comes to buying stuff online, most people still prefer PCs. But mobile is becoming an increasingly important sales channel for one particular retail industry above all others: Groceries.

Based on data from PriceWaterhouse Coopers charted for us by BI Intelligence, 37% of all grocery e-commerce sales in October came from purchases on a mobile device like a phone or tablet. Other retail industries, like furniture and health, are not too far behind, but BI Intelligence predicts sales of online groceries will grow at a much faster rate than sales at traditional supermarkets. Considering how the US grocery industry accounts for roughly $600 billion a year in sales, BI Intelligenceforecasts the online grocery market will grow about 21% each year for the next three years. After all, the food and beverage industry is the largest retail industry by far, and online services that can get food into your home — whether it’s fresh from the store or already prepared by a restaurant — are in high demand: Companies from GrubHub to Amazon and Uber are already launching campaigns to get in on the action.

By | 2018-04-23T10:32:53+00:00 February 25th, 2015|Categories: In the News, Market Trends, Mobility Solutions, NRF, Retail|Tags: , , , |0 Comments

Leapfrogging The Competition

Very interesting that RSR research concludes that “50% of laggards (those underperforming retailers) are using homegrown or customized solutions vs. only 29% of Retail Winners. Winners are more likely to use either on-premise or cloud-based packaged solutions.  These same Winners are more likely to extend their eCommerce platforms into their stores for customers, employees and even as a Point of Sale device.”  Packaged tools are becoming well-aligned with common retail processes and channels are blurring across retail operations.  Leading retailers are leveraging a packaged solution base and enabling their unique business requirements upon that base then leveraging the natural integration provided by packaged tools to drive consistency across all channels.

 Post based on Original Article Source.

A foundational principle of RSR’s research is that Retail Winners think and do things differently than the competition. While a company might get lucky, and hit on a unique, desirable product that drives great sales for a period of time, history has shown us that in and of themselves a special product or category just isn’t enough to drive sustainable results.

In other words, for the short term, customers will put up with almost anything to get the “next big thing.” The operative phrase here is ”short-term.” They’ll wait in long lines at stores, tolerate slow or unstable web sites, and wait weeks or months for delivery… whatever it takes to get the next Beanie Baby (okay, I’m dating myself here, but I think you get my point). Niche products have a shelf-life and their value can plummet overnight. Put another way, today’s $9,000 curved screen TV is tomorrow’s $1,500 deal. Today’s hot product is tomorrow’s commodity or worse.

Suddenly yesterday’s hot retailer is today’s laggard… with sales falling below the Mendoza line of inflation rates.

This begs the question: what do you do […]

By | 2018-04-23T10:32:53+00:00 February 25th, 2015|Categories: In the News, Market Trends, NRF, Retail|Tags: , , , |0 Comments

Retailers wrestle with the future of shopping

Successful omni-channel retailers are beginning to break down the walls between store and on-line and become customer-centered by aligning the organization, processes, data, reporting and systems.  What’s needed are simple, intuitive, fast tools that provide customer insights across the retailer’s entire product and channel portfolio.  Tools like SAP’s Customer Activity Repository are customer-focused and provide simple, fast access to customer channel preferences by product, season, promotion, location, plus a host of additional data elements.

 Post based on Original Article Source. 

Retailers want their shoppers to have the same experience whether on the phone, on the computer or in the store.

One inventory, one unified customer service experience, one checkout. It can mean pick-up in store, ship from store, click and collect, order in-store or a number of other options that make it painless to get what you want, wherever you are, when you want it.

This is what retailers mean when they talk about “omnichannel,” and it’s at the top of their priority lists this year, according to the National Retail Federation. The topic took center stage at the eTail West Conference in Palm Desert on Wednesday. The conference, hosted by Worldwide Business Research, runs through Friday.

“What’s going to happen over the next five years is a merging of online and offline into a single retail organization,” said Forrester VP and Principal Analyst Peter Sheldon, during a keynote presentation at the J.W. Marriott.

To be successful with such a transformation, Sheldon said, retailers will have to stop thinking about their digital and in-store customers as different people, and their online and physical store sales as separate. Because they’re not, he said. A Forrester study found that half of sales that take place in physical stores were influenced by […]