Consumer-sentiment is the main driver for the Retail and Consumer Packaged Goods industry. As consumption patterns change and the developing world takes a bigger share of the pie in the global market, the industry is searching for opportunities for growth by reaching out to new markets and innovating to meet local demands. This is leading to micro-segmentation, which is making it harder to acquire customers, as local players have the reach and a better grasp of consumer behavior.
The industry is increasingly investing in new product solutions in IT Retail Management for Retail and Consumer players which have a dependence on data and analytics to drive brand and product management decisions, pricing strategies, and optimized operations. In 2015, Retail and Consumer Product companies are set to see the biggest test of all – of existing technologies and the newest initiatives – from IT applications, product assortment, and customer analytics, to in-store operations, retail technology consulting and digital customer acquisition.
Some of the key industry challenges today, include:
- Customer Experience Transformation: With the consumer at the core, the new digital ecosystem has set new rules and challenges for business and technology. Technologies and platforms of just a couple of years ago are now becoming legacy. The e-Commerce explosion is pushing IT teams to create new IT retail solutions that provide an Omni-channel experience for today’s consumers – a consistent, responsive buying experience whether they engage through a website, mobile device, or in store.
- Gaining Consumer Confidence: Organizations need to constantly analyze their customer’s consumption patterns to understand how they are being affected by the product and how the product is being perceived. Personalized offers are on the rise.
- Alternate Sales Channels: With local players reaching the customer with lower distribution costs, global players have to realign their supply chain strategy to move towards an Omni-channel model that interacts with the customer at all touch points.
- Capital Pressure: Rising input costs and variable energy costs are constantly challenging the industry’s growth.
To counter all this, today’s retailer has to move to a model where its partner(s) can contribute across its value chain by sharing KPIs and its strategic vision.
How can The Intellect help you?
The Intellect provides retail technology consulting services to global Retail and CPG players in enterprise applications with offerings such as global ERP, application maintenance and support, digital transformation, e-Commerce and Omni-channel, enterprise performance management and analytics, enterprise asset management, and human capital management. Customers can leverage our expertise in the following areas:
The Intellect provides transformation solutions, helping customers’ resolve business problems through the effective use of IT. We have solutions across the following areas:
- Application Support and Maintenance
- Digital Transformation
- Business Assurance and Testing
- Cloud Solutions
- E-Commerce Solutions
- Social Intelligence