Digital TransformationIn Retail: The Last Guide You’llEver Need [Infographics]
Introduction: What is it all about?
Uncovering The Truth: What is Digital Transformation, Really?
Zooming In: What is Digital Transformation in Retail?
Splitting The Pieces: What Drives Digital Transformation In Retail?
Following The Evolution: Why Is It Necessary In Retail
Contents
Scoping the Horizon: Impacts of
Transformation
Digital
Facing The Roadblocks: Challenges on the way Hammering the Nail: A Roadmap For Digital Transformation Front End Impacts Back End Impacts Retail Intelligence Sales Force Automation Distribution Management Systems Wrapping Up: Conclusion 1 2 3 4 9 12 14 18 6
Introduction: What Is It All About?
Businesses have evolved a lot since the 1960s. Paper files became excel sheets, physicalmailsbecameemails,andtraditionalsellingbecameonline
These transitions didn’t emerge by any accident They were forced by a natural selectionprocess a techevolutionthattransformedbusinessesglobally.
Oneswhodidn’tgowith thistech-wind perished.Andthe oneswhodid survived.
Digital Transformation is the next step in this evolution: A key to new capabilities, opportunities,anddatathatisn’t availableanywhere.
This guide aims to give you a concrete understanding of this step and guide you toward the future of retail. Download this guide in a pdf and keep it as a reference in yournew curiositydive.
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UncoveringThe Truth: What Is DigitalTransformation,Really?
It’s a confluence of Business and Technology. It is when a brand decides to use technologytomonitorits activities,gaininsights,andoptimizeitself for the market.
In Digital transformation, a brand transforms itself with data-driven tools for visibility, control and insights. Generally, the insights fall into three broad categories:
• Market Insights
• OperationalInsights
• MarketingCampaignInsights
Digital tools give you a new set of eyes and opportunities to outrun your competitors.
They open up new doors for possibilities like demand-driven segmentation, market-responsivebehaviors,andconsumer-centricsupplychains.
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What is DigitalTransformationin Retail?
Longstory short,DigitalTransformationin retail involvesfourkey components:
• Retail Intelligence
• SalesforceAutomation
• DistributionManagementSystems
• ChannelAutomation
(Wewill diveinto eachcomponentin the nextsection)
They help you navigate customer retention, know buyer preferences, and offer them what they crave. By combining location-based analytics, 360-degree view,andmobileapps,theyreimagineyourvaluedelivery.
Zooming
In:
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Splittingthepieces: What DrivesDigitalTransformationin Retail?
1. RetailIntelligence
Retail Intelligenceis acommonwordfor BusinessIntelligenceSystems usedinretail. It is oneofthe handiestandmost widelyuseddigitaltoolsthat almostevery industry uses.
The system collects, centralizes, and processes real-time data to derive insights The collected data are also fed to predictive models to generate sales forecasts and trends
Retail Intelligence is acritical tool for FMCG and CPG companies Considering the rapid movement of their goods and the dynamic nature of their supply chain, they need it to preventtheir productsfromspoiling
2. Sales Force Automation
Sales ForceAutomation(SFA)is asolutionthatstreamlines thefield sales process.It helpsyoumanageyourfield teams andtheir activities.
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Download the full guide on: www.growmaxbi.com > resources > reports and white papers
