What Retail Companies Can Learn from Digital Transformation Leaders

Nov 2021 | Article

what retail companies can learn from digital transformation leaders

During the lockdown phase, there was considerable brand swapping by consumers who wanted a good value from their purchases conveniently, from the safety of their homes. And that’s when most retailers realised the importance of digitalisation. As businesses revert to recovery and growth modes from survival modes, adopting some traits of digital transformation leaders can go a long way to help.

Thanks to the proliferation of labelled marketplaces, the retail landscape today is more competitive than ever. Customers have many options to choose from, and only the brands offering personalised, engaging user experiences convince them to open their wallets.

However, despite such developments, many retailers with small and medium-sized businesses are hesitant to adopt the technologies that help them evolve in a rapidly changing world. These enterprises must respond to consumers’ changing expectations before they become irrelevant or ‘dated’ in their markets.

How can SME retailers differentiate their brands, become more competitive, and deliver the experiences that buyers seek? It will be through digital transformation – the approach already adopted by several organisations in the manufacturing, hospitality, education, BFSI, IT & ITeS, and telecommunications industries.

The focus areas and the top strategies that your retail business can use to drive smooth digital transformation are:

1- Make distribution services more innovative

Digitally enabled businesses stay seamlessly connected with their delivery services. They also ensure that when customers order goods from their stores, the packages are delivered in minimum time and optimum quality. That’s where IoT helps. By offering real-time visibility and alerts on the status of goods in transit, it makes retail solutions more efficient.

TTBS offers location-based services including Fleet Management solution that uses GPS to track your vehicles in real-time, helping you ensure that they follow the best routes while transporting consignments. Besides monitoring routes, it lets you track driving behaviour for on-road compliance. Overspeeding alerts and unnecessary idling alerts are instantly delivered.

With TTBS Fleet Management you get records of total distance travelled by your vehicles and the fuel consumed by them. You can geo-fence the areas within which fleet movement is authorised and get notified if a truck/van moves out. Such measures also reduce the possibilities of vehicle theft. All alerts are sent on an intuitive interface accessible via the system’s desktop version and mobile app.

Offering more visibility into fleet operations and enhancing customer satisfaction with real-time shipping notifications, TTBS Fleet Management is a simple solution for innovative distribution.

Our GPS based IoT solutions also include Asset Management and Workforce Management systems that retailers can use in their distribution services. While asset tracking gives real-time information on location of valuable business assets, workforce tracking helps to ensure that on-field employees stay productive and use the right routes in completing their tasks

2- Adopt tools to understand customers better

For a positive impact on your retail business’s bottom line, you need to put customer engagement at the heart of your operations. And that is possible only when you comprehend consumer behaviour correctly.

Thanks to the ubiquity of cloud platforms, the technologies for data analytics and customer relationship management (CRM) systems are not restricted to large corporations alone. Any SME can leverage them to keep a record of its customers and develop more effective marketing campaigns.

The Cloud CRM solution offered by Tata Tele Business Services (TTBS) offers pragmatic insights into customers’ purchase habits, preferences, frequencies, and behaviour.

It comes with a strong business analytics layer, user-friendly interface, configurable workflows, automation features for birthday greetings, and reminders to help you serve your customers better. It also gives you substantial cross and up-sell opportunities to increase revenue per customer.

3- Understand how consumer technology is changing

Consumer technology companies such as Google, Apple, and Facebook influence the behaviours and values of their users. Digital transformation leaders also stay attuned to the changing trends on their platforms to understand their customers better.

Today, customers get updates about new product launches and discount codes and read reviews about brands on Facebook and Instagram. They use Alexa and Siri to find products of their choice and make payments with digital wallets like Google Pay and Amazon.

It is essential to consider these innovations and harness them wherever possible. If you ignore the progress of technology designed for the general public, you will not understand why something that worked a few years back does not impress them anymore.

4- Empower your employees

Your frontline employees are the core of your retail business. They assist your customers, help you boost sales, manage accounts, update stock reports, and probably also play a role in home deliveries. Empowering this team is about making them more confident and skilled with the proper knowledge and tools to complete their tasks more efficiently. As per the scale of your operations and the kind of consumer products you offer, you can deploy various digital tools to support your workforce.

Cloud CRM enables employees to make more informed recommendations to customers and upsell more effectively. In addition, you can also use TTBS’ Document Management System (DMS) to simplify the management of files related to suppliers, purchase orders, taxes, daily sales, P&L, inventory, and invoices. TTBS DMS is affordable with a subscription-based ‘pay-as-you-go’ model and can be used through a web browser on any device. It does not involve any additional hardware or software and helps you store your data securely on the cloud. You can grant different levels of permissions to your team to access and edit the documents.

The benefits of DMS are better collaboration and record-keeping while also eliminating the costs and shortcomings of maintaining paper-based documents.

5- Build and strengthen your agile capabilities

As physical storefronts open across the country and set paths for recovery from pandemic-induced losses, retailers must also strategise their operations to address future uncertainties. The new plans will be primarily rooted in trends that have become more critical in the past year – e-commerce, omnichannel services, and automation.

The pandemic and lockdowns did not impact the business of digitally active players as severely as the ones stuck in their traditional models. Many consumers still prefer to shop online and get products delivered at home. An e-commerce strategy – even if it begins with a basic mobile app – is essential to thriving in the new normal.

Omnichannel services such as curb side pickups, same-day deliveries, buy-online-return-in-store, and accepting orders via website, apps, and phone calls strengthen the reach and growth of your business. Consistent loyalty programs across platforms also make you more customer-centric. So the next time you roll out a discount coupon for buyers spending above a certain limit, do not force them to “order only via (your) app”. Instead, distribute the benefit fairly across all channels.

You can also use cloud computing to automate your inventory management and marketing functions to save costs and reduce human errors. If connecting to public cloud services such as AWS and IBM Softlayer is a concern, deploy TTBS Secure Connect. It builds direct private connections between such services and your devices via a secure MPLS channel.

Change before it is forced upon your business

Another tactic that retailers can pick while learning from digital transformation leaders is to evolve before a change becomes inescapable. By utilising technologies and work models that provide more value to your customers, motivate your staff to become more productive, and add more flexibility to your operations, you can strengthen business resilience for the uncertain future.

TTBS has designed effortlessly deployable, scalable, secure, and cost-effective technology solutions to optimise retail services. To know more about these, please get in touch with us on 1800 266 1800.

Call Call

New Customer:

1800 266 1800

Existing Customer:

1800 266 1515
Call Form Enquire