Retail

Overview: Driving Growth and Profits in the Age of Customer Participation

Shoppers habits are evolving and their expectations of experience and personalization are rising faster than many retailers can react. In the past the customer’s path to purchase was linear. Now this journey is dynamic and continuous. Customers no longer enter a channel. Instead, they are continuously in the channel. As long as consumers are in arm’s length of a smartphone, tablet or PC, they are able to participate in any and all components of the channels at the time and place of their choosing. This shift in consumer habits and expectations affects both business-to-business and business-to-consumer relationships, and has strategic implications for driving growth.

Wipro helps global retailers deliver a “greater than” experience that engages customers, enhances value and relevance, and builds a competitive advantage. We do this with tailored strategies and expert teams in the areas of:

  • Big Data and Advanced Analytics
  • Digital and Multichannel Excellence
  • Emerging Markets
  • Merchandising
  • Marketing
  • Operations and Organization
  • Strategy
  • Technology

Challenges In Retail Industry

  1. Customer Acquisition and Retention: It is one of the major challenges being faced by every retail chain. The solution lies in improving customer satisfaction. That is the reason why many retail chains have introduced loyalty programs which have objective of customer retention.
  2. Supply Chain Management: The supply chain has become more complex. A check has to be kept on the number of intermediaries which directly affects costs. A smooth and streamlined efficient process will help in better inventory management and reduce waste.
  3. Demand Forecasting: Customer preferences keep changing. The retail chains need to keep track of sales and accurate information should be accessible at all times so that they can stock products by predicting demand.
  4. Pricing: The increasing number of competitors has resulted in price wars. Operation efficiency can reduce costs and benefit can be passed to customer.

Mcentric Solutions provides solutions which let you collate information and improve business efficiency. Mind Processors helps in increasing retail company’s flexibility and response time. We understand customer mindset. We help retail chains enhance customer experience by making shopping more interactive for customers. Multiple offers and personalized service is the key.