The world of consumer retail and distribution has evolved as companies of all sizes, with online and offline channels, seek to gain and retain their position in this highly competitive and increasingly digital industry. While some global companies struggle to transition away from outdated legacy platforms, new competitors enjoy the advantages of cloud natives, artificial intelligence, augmented reality, machine learning and other digital transformation trends in the retail market. As the universe of commerce expands, new business models are needed to bridge the widening gaps in technology and customer experience.
Consumers expect the retail sector to meet them where they are with a reliable and ethical product, continuous connectivity across platforms, privacy and security for their data, and a rewarding and seamless experience. For the business, there is a need for real-time customer, inventory management, distribution, logistics, and financial data analytics. In the post-Covid era, retailers are scrambling to adopt omni-channel retail solutions and cross channel order management that allows them to connect their customer sales channels and data across all platforms. As supply chain uncertainty and cyberattacks become more common, businesses are investing millions into technology solutions that will ensure supply chain resilience, optimization, and security.
Retailers need to alter their product mix, develop new partnerships, and leverage data across all channels in order to provide the convenience, assortment and experience consumers expect today. A successful digital transformation partner enables retailers to achieve their goals by locating, utilizing and using industry-leading commerce technologies.