Retail

Digital business models are driving a major transformation in the retail industry. Customers are demanding more information to make better informed decisions. It is easier for customers to access information due to advancement in digital technologies. Hence, retailers are putting in place a digitalization business strategy that fuels growth.

Critical business challenges of retail industry:

Consumerization of retail

Customers are demanding more in terms of convenience, collaboration, flexibility and customization. This has led to the consumerization of retail where retailers need to re-look at their offerings in terms of channels and reassess their strategy. Retailers face the challenges of providing a unified set of systems, processes and data to support a truly omnichannel experience demanded by the customer.

Understanding customer behavior

The challenge is to garner deep insights into customer behavior which can help companies create new innovative offerings, boost their brand sales, improve loyalty and provide a seamless shopping experience. In this digital era, there is a strong need to profile customers, analyze buying behavior and target customers with specific products and services which are customized to their needs.

Privacy protection and security

Customer privacy and fraud prevention at all touch points is a significant challenge for retail industry today. While retailers have many business models and challenges, they are confronted with a need to protect customer data and fulfill compliance mandate. Digital technologies can act as guard against security threats, protecting sensitive data and proactively fighting fraud before it happens.

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Our offerings

In-Store Self Service: Digital Assistant

Customers are demanding more convenience, more collaboration, more flexibility and more customization. While in store, customer wants to access product information, check reviews, check stock availability, access contextual promotion programs and access loyalty reward programs. Customers want the store interaction to be productive with no wait time and with personal attention. EXILANT provides a solution with the digital assistant backed by a robust analytics engine that helps customers navigate smoothly through the instore journey and beyond.

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Multichannel Customer Analytics

Digitalization has opened an unprecedented amount of customer data that was previously unavailable with marketers. Retailers now have an opportunity at hand to tap into this data source to derive ‘insights’ and accurately target with customized offers that appeal to the taste of customers.

EXILANT’s “digital marketing” platform is a diversified solution that provides a unified platform to effectively manage new-age digital campaign management, social media integration, increase relationship with customer and provide vital insights into customer interests and spending patterns

Pricing Management and Markdown Optimization

Effective pricing management of seasonal products contributes significantly to sales and profitability. A little variance in the timing and the amount of markdown could lead to drastic changes in the profitability. Most retailers use judgment and rule of thumb to determine when and by how much to markdown the prices of various products. EXILANT’s offering suggests an optimized solution for pricing management providing users visibility into sales, inventory and profits for various scenarios by identifying the best price path.

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