Retail & Consumer
Retail and Consumer
Retail & Consumer Customer habits are evolving and their expectations of experience and personalization are rising faster than many retailers can react. In the past the retailcustomer's path to purchase was linear. Now this journey is dynamic and continuous.Shoppers no longer enter a channel.Retail and shopper product companies operate in environments that are highly dynamic, with new challenges and opportunities emerging constantly.However, retailers will have to focus more on the digital front — ‘channelize, mobilize and socialize’ to stay ahead in today's ‘click-and-mortar’ retail game.
As long as consumers are in arm's length of a smartphone, tablet or PC, they are able to participate in any and all components of the channels at the time and place of their choosing. This shift in consumer habits and expectations affects both business-to-business and business-to-consumer relationships, and has strategic implications for driving growth.
Chances and Challenges
Users to digitialised: Today's consumer has access to information at a click – about product assortment, pricing, quality, and everything else there is to know. Given the scenario, companies can create more walletshare by reaching out across digital channels — mobiles, interactive TVs, social communities. In-store technology like smart kiosks and digital signages hold immense potential to observe and influence shopping behavior. With traditional media failing to deliver the impact it once did, mastering ‘group’ coupons and social channels, in addition to email and search ads, rounds out a retail strategy to maximize today's ‘convergence of opportunities.’
Multi-channel retailing: The more your consumers see you, the more they'll want to know about you. Online consumers will buy if they’ve seen it, like it, and are convinced of it. Their product research actually drives more land-store sales than online sales. So, all channels where the consumer might get information from — the retail store, website, and catalogue — must be closely aligned and monitored for maximum impact and hence, sales.
Mobility in retail: Market research indicates that nearly 70% of consumers across the globe always have their mobile devices with them while they are in a store — which they use to consult family and friends about their purchase.Consumers around the world are ready to use mobile devices to shop, compare, and transact on the Web or in stores. This gives retailers an unprecedented opportunity to make an impact on the consumers at their so-called 'moment of truth'.
How Global view delivers business value
We offer a comprehensive suite of retail services and solutions that enable end-to-end transformations. Our offerings leverage our in-depth technology expertise and rich retail industry domain experience to deliver results with uncompromised certainty.We blend our expertise in consulting, technology, and sourcing to help our clients solve complex business challenges and unlock their value levers by creating outcomes in three key areas: business transformation, accelerating innovation, and efficient operations.