Tectura Retail Trends eBook 2013


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Tectura Retail Trends eBook 2013

  1. 1. Retail Predictions for 2013 Key Trends
  2. 2. Retail Predictions for 2013 / Page 2 Customer Expectations in 2013 If three words could describe the expectations of Australian retail customers for 2013, they would be: • More range, more options, more information • Improved online and in-store experiences • Faster online or in-store, your customers want it now Key Challenges: • Omni-channel strategies – the 21st century requirement • Disparate systems • Loyalty is getting personal • The globalisation impact ? What can retailers do to stay abreast of these increasingly difficult demands? ? Is profitability even a possibility in today’s global market? This eBook outlines key challenges facing Retailers in 2013; and reviews solutions to position your business for success.
  3. 3. Retail Predictions for 2013 / Page 3 Challenge 1 Omni-Channel Strategies – The 21st Century Requirement A strong omni-channel marketing strategy creates a seamless approach to the customer experience by ensuring all available shopping channels (including mobile phone, internet devices, computers, bricks-andmortar and traditional marketing channels) are on message, accessible and intrinsically connected. Current Trends • Omni-Channel expectations will continue to grow as customers embrace online shopping and multiple access points. Those same customers will expect ever faster access and search responses, regardless of how and when they connect with your store. • When they do enter your store, they’ll be armed with more knowledge than ever before. They will have product details (think price comparisons and online product reviews) or will expect information to be immediately accessible via online applications during their in-store experience. • If retailers aren’t controlling the information themselves, customers will access applications like Google Shopper, RedLaser, and TheFind to price-check goods and make competitive comparisons, often whilst standing in your store. • What this boils down to is a previously inconceivable array of customer power and choice. What To Do • Retailers focused on profitability will need to personalise the shopping experience and embrace social, local and mobile (SoLoMo) applications. They’ll also need to invest in the infrastructure underpinning these applications. Omni-Channel Retailing Defined The multiple ways customers now expect to connect with and access retail goods.
  4. 4. Retail Predictions for 2013 / Page 4 Challenge 2 Integration of Disparate Systems Integration in action is an ERP system that enables retailers to seamlessly manage store, web and mobile device transactions, through to warehousing, procurement, replenishment and financials in one application. Overall visibility is the key in this scenario – and it’s critical in enabling the retailer to be well informed and proactive. Current Trends • You can’t have a seamless shopping experience if the underlying systems are disparate. Your customers won’t be able to: »» Buy products online and return them in a store »» Redeem points online that were collected in store »» Access instant updates from in-store sales staff • Customers can make competitive price comparisons through the recent surge of third party applications. Retailers who don’t integrate will lose out to online competition whilst failing to secure its advantages. What To Do • Stay competitive with the new players driving the retail sector through system integration. Integrated systems create leaner, more efficient operations via streamlined order processing, stock controls and distribution channels. Communications between the IT department, marketing department, and sales staff will need to be as smooth as possible with little confusion about goals and strategies.
  5. 5. Retail Predictions for 2013 / Page 5 Challenge 3 Loyalty is Getting Personal Omni-Channel Loyalty = Maximizing your Customer Experience Current Trend • Loyalty programs are developing beyond simple card/point type systems to a long term, personal engagement. Smart retailers are focusing on collecting data to create highly targeted offers and promotions. What To Do • Plenty of retailers will pay lip service to this concept but only those with accurate data on customer buying habits will analyse those behaviours and react quickly with effective offers and promotions. Retailers who have close integration of their loyalty/ marketing and ERP systems will be in a strong position to target their best customers and encourage similarly profiled groups with relevant offers.
  6. 6. Retail Predictions for 2013 / Page 6 Challenge 4 Globalisation There are more international retailers entering Australia than ever before. And more suppliers are emerging as direct competitors on the back of the global search engine trends encouraging shoppers to search by brand rather than retailer. Current Trend • The drive towards globalisation does more than increase competition. It also distorts the very concept of how we’ve worked as an industry in Australia. Our concept of ‘seasonality’ becomes less relevant and product lifecycles shorten as customers become ever more empowered to search out the next best thing. What To Do • There’s now a growing need for accurate SKU (Stock Keeping Units) sales, as profitability analysis becomes critical to providing customers with exactly what they want, and enabling you to quickly adapt your product lines in line with changing behaviours. Global change can provide an excellent opportunity for retailers who were previously beholden to seasonal constraints and product lifecycles to create their own more agile processes.
  7. 7. Retail Predictions for 2013 / Page 7 What Do Retailers Need to Do? It’s all about having access to technology that you can build your business upon. More than ever before, solutions need to be: 1 World Class 2 Highly Agile 3 Retailers must keep up with customer expectations and move with speed when the market requires it. End to End
  8. 8. Retail Predictions for 2013 / Page 8 About Tectura Who We Are Tectura is a worldwide provider of business consulting services delivering exceptional service and sustainable value through consulting, software and IT implementation. Our diverse clientele includes mid-sized companies and larger enterprises. With team members in 20+ countries, Tectura applies its industry knowledge and best practices philosophy to provide Microsoft Dynamics ERP, CRM and technology solutions throughout the Americas, EMEA, and Asia Pacific. Why Tectura for Retail Tectura can give you access to local resources that have an in-depth understanding of the Australian Retail Market whilst leveraging global retail best practices. The Microsoft Dynamics platform has the flexibility of offering the full retail mix, from POS, mPOS (mobile POS), web, loyalty, OTB, procurement and warehousing, right through to financials. How to Get in Touch Phone: 1300 TECTURA (1300 832 887) Email: au.info@tectura.com .
  9. 9. Tectura Phone: 1.300.832.887 Email: au.info@tectura.com Web: www.au.tectura.com