Rapid digital transformation is changing the entire retail landscape. As they prepare for the future, retailers must consider how they will meet customer demands in an increasingly tech-focused world.
Growth in e-commerce, click-and-collect, and the expectation of 24 hour service and availability mean that in order to deliver results retailers must optimise their inventory processes and empower employees with the technology tools they need.
Embracing a digital mindset
Many retailers still have a number of manual processes in their warehousing and inventory management. But as ecommerce begins to outstrip in-store purchases, retailers need to consider the benefits of embracing the new digital world.
Results from a recent survey conducted by Zebra Technologies showed that consumers expect items to be in stock and that 39% of shoppers abandon a planned in-store purchase because it is out-of-stock. It also highlighted that 90% of retailers plan to enable their stores to fulfil web orders and 86% of retailers expect to invest in intelligent automation over the next two years. They also found that 59% of shoppers reported having a better experience when a sales associate is equipped with the latest technology.
Some of the retail touch points that can be optimised through digital transformation include:
1. Anywhere checkout – mobile devices that enable checkout at any point in the store.
2. Empowered staff – equip staff with devices that let them assist customers more effectively by remotely checking stock levels, viewing product information, and suggesting related items.
3. Optimised inventory management – tracking the end-to-end movement of stock from the warehouse to the sales floor to avoid lost inventory while gaining insight into stock movement that will help future decision making.
The unprecedented rate at which retail is changing means that digital transformation is inevitable. Retailers therefore must consider how they will adapt to meet these changes. By optimising retail touch points it is possible to gain inventory visibility and control, elevate in-store experiences, boost profits and outcomes, reveal timely insights, and connect workflows for fast action.
If you are interested in technology that could be used in your retail environment to support staff and optimise inventory management, you can read more about some of our hardware options below or contact us to talk to a solutions specialist for expert advice.