Digital transformation is here. But, what is Digital transformation?
Many are still wondering if someone can give them a 3 minute, simple
overview of why a company needs to transform digitally. If you have ever
pondered on this thought as you are busy navigating your day-to-day
life, you are in the right place!
Let’s examine the idea of digital transformation through the lens of retail. Retail is all about buying goods from suppliers at a low price and selling them back to consumers at a higher price. In this way, you make a profit. Digital transformation for retail does not begin and end with a specific function, like a shopping cart website. In reality, organizations must make deep changes to their operations, supply chains, inventory management, and customer relationship processes. They must analyze data to accurately project demand, react to customer needs, and ship products quickly and efficiently.
Provide them as many details as possible about the product to
simplify their decision, make their check-out process seamless, and
amaze them with fast delivery and return policies. If possible, engage
with them personally, understand their tastes and what they are looking
for, talk to them and treat them in a way they like to be treated so you
can build a loyal relationship. In digital marketing terms, you can
call this ‘omnichannel enablement’ as your customers’ engagement is not
tied to a specific channel but based on their preferred mode of
Omnichannel Personalized Experience
competition increases, retailers will have to reevaluate their
offerings in their markets and see where they can differentiate. For
example, this could mean bringing more in-store experiences online,
allowing online shoppers to have a video call with sales associates.
Retailers can remove doubt and confusion during purchase decisions with
augmented reality technology, helping customers visualize products with
cameras on mobile devices.
Consumers remain reluctant to enter public places, which drives demand for alternative delivery and pickup services. New delivery models are already gaining traction among the general public, with BOPIS (buy online, pick up in-store) expected to stay in demand long after the pandemic.