Data-driven sales are the key to New Retail
AlfaPeople |
Dec 05, 2022

Data-driven sales are the key to New Retail

The explosion of new tools and technologies that drive the innovations of Industry 4.0 in which we live, are transforming multiple sectors, from manufacturing and medicine to education or telecommunications. Retail is no exception. This crucial industry, in which the analysis of consumer data and trends is increasingly powerful and sophisticated, requires changes. This migration to technologies will grow, as data analytics tools and varied technology solutions not only meet the needs of a rapidly evolving industry, but also drive trends and tactics that accelerate that evolution. Retail and digital shopping are no longer like before. Join New Retail. 

In recent years, various market realities have led e-commerce to enhance its virtual presence. This accelerates the pace of your change and strategy. Until the last decade, the most successful retailers were consistently the most able to source, ship, and sell desired products in physical locations. 

Today, thanks to new technologies and post-pandemic paradigms, the recipe for success has changed, altering this inherited business model.  Technologies must evolve quickly and become omnichannel players, where the physical store merges with on-line, generating unifying and more comfortable shopping experience for the new customer.  

Worldwide, 74 percent of Millennials and 73 percent of Gen Xers prefer a combination of in-store and online shopping. 

This market disruption has led to significant transformations in the retail sector, accelerating the changes already taking place and fueling a new era of retail innovation. These trends translate into new priorities for retailers, who seek to live up to shoppers’ expectations. 

Without technology, there is no innovation in Retail

The purchase decision goes through a pleasant digital experience 

The most significant changes come from the evolution of customer expectations and shopping experiences. That is very clear.  Technologies are the key. 

We should also mention that traditional consumer drivers, which shape consumers’ purchasing decisions (value, choice, and convenience) join others that play a more prominent role, such as: experience, privacy/security, and new purposes, such as planet-friendly, sustainable fair trade, among others. 

Technology as a disruptor of Retail 

According to Wall Street Journal, on a global scale, investment in IoT technology in retail could exceed US $ 95 billion by 2026 (in 2021 investments in that area reached US $ 55 billion) 

Understanding these new realities and thriving in a retail landscape where the terrain has changed dramatically requires a deep understanding of changing customer preferences and priorities. 

Big Data, AI and Machine Learning allow retailers to know their consumers key factors in this new paradigm modeled by technology and satisfying experiences. 

Understanding consumer motivations and choices at every step of the customer journey, from online browsing to shopping, allows retailers to show customers that they know them and want to approach that interaction in the best way by putting customer priorities at the center. 

Retailers need a connection with the consumer, who is very attentive to the speed and quality of these changes. That’s where the crucial role of consumer data analytics comes in. 

Consumer data analytics also facilitates targeted and hyper-targeted promotions, orchestrating a new way to captivate and reach the point of purchase. 

Data- and technology-driven selling, including: 

Consumer Big Data is key in the new digital purchase. 

• Knowledge-based strategies and actions. 

• Innovative products and services. 

• Experiential elements of the customer’s purchase. 

• Smooth business interactions and transactions. 

• Robust, responsive operations and infrastructure in real time. 

• An aligned and empowered workforce. 

• A digitally enabled technological architecture. 

• An integrated ecosystem of partners and alliances. 

AlfaPeople and Dynamics 365: Customer and product data with complete accuracy, 24/7 

Thanks to the direct integration between Commerce and Dynamics 365, all this business logic, product, and customer data can be available in real-time directly in the Commerce Cloud virtual store.  

This data contains important business logic based on current inventory availability, inventory location, and projection of future inventory levels based on planned production and/or purchase orders. 

Thanks to Microsoft Commerce and Dynamics 365, you will have: 

Payment Processing 

Microsoft Commerce offers secure payment processing using PCI DSS (Data Security Standard for the Card Payment Industry). We offer a variety of payment methods to give the best service to the client’s needs and currency support for localization. We support account, credit card, and ACH payment types. 

Hassle-Free Returns 

Because Microsoft Commerce automates order processing and gives visibility to the entire online shopping cycle, from search to purchase and return, it is also completely hassle-free. Customers can request and track returned merchandise directly from the Microsoft Commerce Cloud virtual store. 

All hosted in the Microsoft Azure Cloud 

Microsoft Commerce offers the Microsoft Azure server one of the most secure and reliable hosting systems in the world. It has the specialized collaboration of Microsoft Azure Architect, which means an optimal architecture to host the virtual stores of your Commerce Cloud. It offers the same 99.9% guarantee that Microsoft Azure delivers across all its global services. 

Microsoft hosts more than 200 data centers worldwide. 

Scalability and Flexibility 

With a Commerce Cloud virtual store, you can scale reliably, improving to support large order volumes and optimizing the performance of the virtual store for large product catalogs. This can be done by simply adjusting some settings in the ERP and in your virtual store. During peak traffic periods, performance can scale up with more hardware, or horizontally with additional servers. The scalability of Commerce Cloud is virtually limitless, as the software offers freedom on a larger scale according to each need. 

Contact us to schedule an appointment with one of our experts.