163 UK retailer Asda improved its inventory processes with RFID technology from Microsoft partner SML experiences that an online purchase wouldn’t provide to make the journey and physical effort worthwhile. “This could include stores offering a better price or selection of products, or value-added services such as subscriptions, personalisation or repairs,” she says. Operating physical stores alongside e-commerce channels also provides retailers with an opportunity to deliver omnichannel experiences. “For example, they can offer ship-from-store and click-and-collect services to customers, which delivers additional value,” says Rajagopalan. The term ‘digital transformation’ is one now heard frequently as a variety of organisations adopt and streamline technology solutions that provide new opportunities and optimise their operations. The key to achieving this lies in utilising data. However, for retailers working in traditional storefronts, this is proving difficult. “It has always been a challenge for retailers to get data from physical spaces, so as customers go from online (known) to in-store (often unknown), they struggle to connect the dots and leverage data to improve the shopper experience,” says Rajagopalan. “This gap extends beyond the customer to areas like inventory as well. Getting an accurate count of items on the shelf or in the back room can be elusive for many. “In addition, operational data, often focusing on temperature, lighting or foot traffic, is much harder to measure in stores where network connectivity might be limited, sensors have to be maintained, and data has to be collected in batches and then uploaded.” RETAIL & CONSUMER GOODS “ Retailers have to start thinking about the store as a node in the omnichannel network” SHANTHI RAJAGOPALAN
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