Retail

Overview

The retail industry is witnessing a paradigm shift. Factors like new competition, evolving technology landscape, changing customer expectations, and the convergence of physical and digital offerings are pushing retailers to find new ways to do business and alternative revenue streams. As customers look for more convenient ways to shop, players in the retail market must understand and implement strategies such as in-store retail analytics to provide a frictionless, hyper-personalized and engaging shopping experience.

While customers are partial to the personalized online shopping experience provided by e-tailers, most retail purchases often happen in physical outlets. Therefore, online retailers have taken aggressive steps and started opening brick-and-mortar stores that combine their personalized online presence with physical store presence. Powered by customer data, the emergence of these hybrid retail enterprises would further endanger the traditional retailer’s relationship with their customer. Recognizing this challenge, retailers are looking at leveraging their existing physical store assets and making customer experience frictionless both in-store and beyond to offer a more immersive experience to their shoppers.

Consumers have always demanded experience, convenience and speed in their shopping journey from purchasing to the delivery, and now, post-COVID, they also want a safe and “contact-less” shopping environment. Retailers will look at the adoption of new-age technologies to ensure that not only do they comply with the laws but are also able to give enough confidence to customers. Along with a wide gamut of customized service offerings, HSC has developed a suite of components that can help players in the retail market, including technology vendors and Retailers, develop, customize and deploy unique solutions. These unique offerings map directly to their custom needs and help them in the digital transformation of their retail enterprise.