iVend Digital Commerce helps retailers make the most of Christmas
Learn how you can offer the best customer experience ever.
Christmas is the time for giving, and what better gift could retailers give themselves than a brand spanking new Digital Commerce system. One that has everything they need for a happy retailing Christmas, productive operations and the glorious ka-ching of increased profits.
The traditional Christmas song describes the gifts of the ‘12 days of Christmas’. But what about the ‘12 gifts of Digital Commerce’ ? Here’s our modern day take, outlining the 12 must-have Digital Commerce features that make it the perfect gift.
On the first day of Christmas, my Digital Commerce gave to me…
…inventory visibility. Retailers need the ability to operate all their sales channels from a common stock pool. Flawless inventory management, no matter where goods are located helps to maximise product availability, speed up fulfilment and increase sales. As a recent article in Forbes magazine points out, inventory is where the majority of a retailer’s working capital is tied up, so it makes sense to have the clearest picture possible of where it is and how to get it sold.
Gift #2 – Online/offline integration
Shoppers don’t see channels; they just see a brand. Their online experience impacts their impression of the brick and mortar store, and vice versa. Online stores need to be completely integrated with brick and mortar, so that a single transaction can weave seamlessly between the two.
Gift #3 – Master data integration
When essential information – about customers, products and prices – is dispersed across systems, it can be almost impossible to operate efficiently and make meaningful business decisions. The right Digital Commerce solution enables retailers to create a single master data source, available to the POS and online store, with full ERP integration.
Gift #4 – Centralised data management
With POS and ERP integration, operating from the same master data, the next gift for retailers is to reduce the time and effort of managing that data. Digital Commerce allows them to manage data from the core ERP itself.
Gift #5 – Data Propagation
Inaccurate, incomplete or out-of-date data is costly and makes for flawed decisions. A Digital Commerce system propagates changes in real-time across all platforms, whether it comes from the POS, online store, or the ERP, so all systems are firing on the same, up-to-date information.
Gift #6 – Manage pricing and product catalogs
Maintaining a product and pricing catalog, which may run into tens of thousands of SKUs, can be a headache. The ability to manage channel-specific pricing and product information from a single application is a Digital Commerce gift all retailers appreciate.
Gift #7 – The loyalty program experience
We know that customers love loyalty programs, and receiving coupons or a gift card. They naturally expect the same programs regardless how they shop. So loyalty programs, coupons and gift cards that are inter-operable, and deliver a consistent customer experience across all sales channels, are a top wish-list gift for retailers.
Gift #8 – Channel Agnostic Loyalty
Customers are ‘channel blind’. They don’t distinguish between online and brick and mortar shopping and often combine the two in the same transaction. They expect their loyalty program points to do the same – a feature delivered by Digital Commerce
Gift #9 – Getting Mobile
Retail staff – in the warehouse, in delivery trucks and on the shop floor – need to be able to work on the go. A Digital Commerce system that integrates with handheld devices and mobile POS makes for efficient warehouse picking and seamless integration of home delivery with the retail environment.
Gift #10 – Frictionless checkout
Cart abandonment is still a big issue for online retailers, with some segments of the market experiencing rates of over 80%. Many of those who leave without purchasing won’t return to the site. So a Digital Commerce platform that delivers the smoothest possible checkout and contactless payments, and eliminates friction, is a practical gift that boosts sales and revenue.
Gift #11 – flexible fulfilment management
For flexibility and the perfect Christmas customer experience, Digital Commerce gives the gift of managing order fulfillment and shipment either directly from Point-of-sale (POS) or from the core ERP.
Gift #12 – Delivery and pickup options
Digital Commerce allows retailers to offer a wide range of delivery and pickup options – including Click and Collect/BOPIS, Curbside pickup and Contactless delivery – to keep customers happy and coming back for more.
As retail ramps up for a big and exciting holiday season ahead, and shoppers fill their baskets with gifts, it’s also time for retailers to think about their own Christmas presents. They might not be able to wrap it and put it under a tree, but a Digital Commerce system could be their best gift ever.