USTGlobal. Leveraging Omni-Channel Retail Solutions

Transcription

1 USTGlobal Leveraging Omni-Channel Retail Solutions UST Global Inc, February 2018

2 Table of Contents What Customers Want 3 What Retailers Want 3 What We Do at UST 4 Copyright 2018 UST Global Inc Leveraging Omni-Channel Retail Solutions I FEBRUARY

3 What Customers Want With advancing technology in the retail sector, consumers increasingly expect to get personalized, relevant and seamless shopping experiences. Recent survey reports by various consultancies indicate that customers expect a similar quality shopping experience whether done In-store, Online or via Mobile, which enables them to locate products easily and quickly, through improved website appearance and user experience. Online shopping can sometimes be frustrating to customers. Users tend to give up on the online shopping scene if the web functionality and performance are not up to the mark, if there are not many products to choose from, or if the customer service is too poor. Customers have different reasons to prefer in-store or online shopping experience. The reason why online/mobile shopping has gained prominence is the following five factors Convenience, Variety, Price, Comparisons and Fun. Meeting these expectations can drive sales as well as ensure customer loyalty. Studies reveal that 71% of customers wish to view in-store inventory online, of which 50% wish to make the purchase online and pick it up from the stores later on.* It is further revealed that 73% of consumers are more likely to visit those stores for shopping whose inventory is available online.* Source: Forrester Consulting * What Retailers Want Retailers nowadays have to be at the customer s service 24x7 right from offering the right product at the best price to exceeding their expectations at handling an order. When it comes to e-commerce, it s not only about presenting and selling products online. Retailers are focusing on providing a rich, relevant and personalized shopping experience across multiple business channels. Omni-Channel commerce is gaining prominence among retailers, as it provides consumers with a quality and personalized shopping experience online and in-store, while building a trusted bond with the retailer and aiding the retailer to grow the business. There are a number of Retail solution vendors who provide Omni-Channel retail solutions that get all the departments, sales channels, suppliers and fulfillment operations on the same page. The top retail solution vendors are IBM WebSphere Commerce, Hybris, Shopify, Shopatron and ebay Enterprise. All of these software suites have a set of features and capabilities which the retailer can choose from, depending on the size of the business. Some of them are tailored for bigger retailers, while others can serve small to medium sized retail firms. Copyright 2018 UST Global Inc Leveraging Omni-Channel Retail Solutions I FEBRUARY

4 Most of the Ecommerce and Omni-Channel retail solution suites have some features and capabilities in common. The IBM WebSphere Commerce suite is one of the top vendor solutions preferred by many retailers. There are a number of features which make it suitable for most of the e-commerce as well as Omni-Channel retailing. Scalable solutions which can be customized according to the retailer s needs Works across multiple channels like web, mobile, social, store and call center WebSphere solutions support both B2C and B2B business models Integrates all retail components like content management, supply chain management, BI, CRM, etc. Omni-Channel inventory and order management is highly recommended and preferred WebSphere Commerce has the following features which highlight their retail solutions: Storefronts B2B e-commerce B2C e-commerce Customer Experience Microsites & Subsites Market and Merchandising Order fulfillment Social Commerce Digital Analytics Sales Configuration Mobile commerce What We Do at UST Different retailers will have different needs when considering an Omni-Channel commerce platform, depending on their business model and the size of their business. Flexibility to serve different and wider audience - from large to midsized and small retailers - is something that a solution vendor should keep in mind before bringing together a solution. Native Integrations that enable retailers to operate their online stores on social media platforms like Facebook is something that retailers look forward to. Providing a Cloud solution for e-commerce and point of sale operations is another highlight. An offline sales solution that can integrate both online and offline sales within a single platform can be considered too. Reduced cost of implementation and quicker roll out is something that retailers will look for. Retailers also tend to choose a product that offers transparency, which would help them decide on the reliability of applying it to their business. Customization options: The ability to provide a large number of themes and options to extend the features via a third party app will be preferred above other retail solutions without the feature. Copyright 2018 UST Global Inc Leveraging Omni-Channel Retail Solutions I FEBRUARY

5 When designing and deploying a Retail solutions suite as a product, we focus on the following steps: Identify the various requirements Outline of the Retail solutions suite Incorporate the necessary and good to have features. Should be scalable and customizable. Customize the solutions based on the client requirements Develop, test and implement the solution. The solutions can be IoT related, have cognitive capabilities, etc. Improvise and integrate. Upgrade the solutions by constantly learning and adding newer and better features Support the solution provided to the client by incorporating the latest use cases and features according to their requirements. Copyright 2018 UST Global Inc Leveraging Omni-Channel Retail Solutions I FEBRUARY

6 ABOUT UST GLOBAL UST Global is a fast-growing digital technology company that provides advanced computing and digital services to large private and public enterprises around the world. Driven by a larger purpose of Transforming Lives and the philosophy of fewer Clients, more Attention, we bring in the entrepreneurial spirit that seeks the fastest path to value in today s digital economy. Our innovative technology services and pioneering social programs make us stand apart. UST Global is headquartered in Aliso Viejo, California and operates in 21 countries. Our clients include Fortune 500 companies in Banking and Financial Services, Healthcare, Insurance, Retail, High Technology, Manufacturing, Shipping, and Telecom. UST Global believes in building long-lasting, strategic business relationships through agile and client-centric global engagement models that combine local experts and resources with cost, scale, and quality advantages of global operations. For more information, please visit: USTGlobal Corporate Office: UST Global 5 Polaris Way, Second Floor, Aliso Viejo, CA Tel: (949) Fax: (949) For further information contact: info@ust-global.com /USTGlobal /USTGlobal /ustglobalweb /company/ust-global