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Retail

Find out how Chakray helps retail companies tackle digital challenges through integration.

The retail industry is constantly changing and evolving. It is one of the sectors that has most accelerated its digital transformation due to changes in the behavior and shopping habits of consumers who increasingly demand a connected store experience.

All this will require an integration of processes and systems through cutting-edge technologies and platforms, in addition to the use of big data as the basis of the process, among others.

Capabilities for Retail Organisations

Chakray can assist your organisation by delivering Retail transformations that include:

  • Optimize and streamline the supply chain and buyer journey through improved integrations between services and applications.
  • Data and analytics that enable you to better understand customers to generate unique experiences and make the best decisions for your business.
  • Build omnichannel retail customer information systems by capturing and analyzing data from multiple sources.
  • Accelerate innovation to take your business model into the future with a cloud, on-premise or hybrid strategy.
  • Merge offline and online points of sale through the use of APIs to enhance the user experience and improve retail profits.
  • Secure authentication that will increase the trust of your customers and third parties.
  • Fast implementation to meet short deadlines
  • Integration of IT systems with Banks and financial companies to facilitate retail payments and with Telcos to enhance the omnichannel experience.
Digital Challenges

Whilst all retail organisations are unique, there are many common themes in terms of the technical challenges they face which are currently disrupting this sector. In this section we’ll provide a high level view of some of the most common ones.

Omnichannel

Omnichannel is one of the most important challenges in the world of Retail, it is based on the integration of all communication and sales channels of retailers, putting the customer at the centre of the strategy and improving the customer experience by allowing people to shop anywhere and anytime.

Convergence of physical and digital

The convergence of physical and digital environments creates new possibilities for both. Adding a digital layer to physical stores allows us to transform the customer experience and better understand the tastes and preferences of our shoppers. On the other hand, online stores increasingly utilise physical spaces in order to combine both experiences and reinforce their brand image.

 

mCommerce

Users are increasingly spending more time with their mobile devices. mCommerce has transformed the world of Retail, turning mobile devices into an ally of physical stores through the creation of virtual stores that practice e-commerce. It implies the coexistence of Showrooming and Webrooming in which users visit the physical store but make the purchase online and the other way around.

Big Data and Fast Data

The use of Big Data continues to grow in importance to retailers. It provides powerful insights into customer habits and preferences and enables us to detect trends, predict demand, and provide customers with more personalized information or promotions in real time.

Internet Of Things (IoT)

IoT is an essential tool for retailers, allowing them to personalize information and promotions to their customers as well as control their supply chain and inventory and redesign stores.

Automation, user experience and recommendations

Process automation increases the agility of ecommerce and supply chain purchases, improves the user experience, reduces costs and increases sales opportunities. The inclusion of technologies in the retail industry allows them to get closer to customers, anticipate their needs and make recommendations more effectively.

Clicks & Mortar and Click & Collect

Logistics plays a very important role in both physical and online shopping, and new solutions are constantly being sought to reduce delivery times and associated costs. For this reason, clicks & mortar and click & collect have emerged, where the point of sale becomes the point of contact and delivery of products purchased online.

Retail as a Service (RaaS) and Cloud computing

One of the possibilities yielded by cloud computing in the retail sector has been the evolution towards Retail-as-a-Service (RaaS). This approach empowers digital transformation by enabling flexible management of commercial campaigns as well as customized solutions. They make core ecommerce and store functions available as microservices in a cloud-native architecture, eliminating complexity, reducing costs and enabling access from anywhere in real time.

Blockchain and other technologies

Retailers continue to leverage Blockchain technology for the many benefits it offers. It generates greater consumer confidence as it verifies product authentication, helps companies to efficiently improve inventory management and protects customer-related data through authentication processes.

Other technologies that are being used to improve the customer experience are beacons or cryptocurrencies as a payment method, the inclusion of virtual reality solutions or RFID tags.

Why Chakray?

  • Whether you are looking to leverage the technical and reputational benefits by being ahead of the curve, or if you are in a region where it is a regulatory requirement, we can help.
  • We can work with your technical teams, leaders and stakeholders to help your organisation understand the benefits, responsibilities and journey of your company's digital transformation and integration.
  • Our team of experts work closely with you to identify and implement the technologies and solutions that can help your company's digital ecosystem generate higher revenues and improve user experience.

Find out how Chakray helps retail companies tackle digital challenges through integration.

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