How Google helps Retail Industry in enhancing business
performance?
INDUSTRY TRENDS / CHALLENGES
Globalization has radical...



to a better shopping experience, increasing traffic, revenues, and loyalty. Research shows that returns
for this effo...
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How Google helps Retail Industry in enhancing business performance?

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How Google helps Retail Industry in enhancing business performance?

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How Google helps Retail Industry in enhancing business performance?

  1. 1. How Google helps Retail Industry in enhancing business performance? INDUSTRY TRENDS / CHALLENGES Globalization has radically changed the whole Retail/FMCG industry. Disturbing economic factors - high unemployment, rising inflation, government debt crises in Europe and the U.S., and stock market volatility - have greatly impacted retail sales. Given challenging economic conditions, retailers will have to continue to be aggressive in seeking opportunities for top-line growth, while maintaining the strength of the bottom line by driving operational efficiencies. With the entry of new players in the market and increase in number of point-of-sale and point-of-supply, Retails/FMCG sector has witnessed major challenge in terms of customer experience and loyalty maintaining both top-line and bottom-line. To expand, acquire new customers and better consumer experience, Location based intelligence will play a major role in alleviating the complexity of retail operations and improving business efficiency. It also enhances predictive investigations including market and customer analysis, encapsulating different forms of real-world and modelled data to understand the demographic, competitive and psychographic interaction of consumers, suppliers and the geographic space in which the data is distributed. Retails and FMCG industry are dependent on sales and supply chain team heavily through which they manage the whole business cycle. Automation of the whole reporting and inventory management process through technology solutions will profoundly enhance business performance In addition to providing more compelling in-store experiences, retailers are exploring the following capabilities to attract and retain customers. Format Innovation:  The ability to manage new formats, optimize the existing footprint, and strengthen capabilities in the growing online channel will be critical for retailers going forward. Retailers continue the long-term task of exploring store formats and reevaluating their footprints that will enable them to penetrate new geographies and consumer segments. Companies such as Rite Aid and Walmart, for example, are experimenting with scaled-down versions of their stores with low in certain geographies. The growth of online shopping is demanding that retailers better capitalize on the trend - beyond the basics, such as developing easily navigable websites. This will require new capabilities that will enable companies to innovate and gain competitive advantage. Personalized couponing and customized digital offers, based on shopping behaviors and location, is an increasing tactic. Top retailers are largely making investments in acquiring and analyzing consumer data to better tailor online and mobile promotions, as well as to drive more effective loyalty programs. Merchandising:  In an era of frugal, “smarter” consumers, developing the capabilities required to place the right product in the right store at the right price is essential to fuel profitability. To get the most out of their stores, retailers need to tailor them to better reflect local tastes and preferences. This effort to “localize” leads
  2. 2.   to a better shopping experience, increasing traffic, revenues, and loyalty. Research shows that returns for this effort can be dramatic, as retailers can improve their top line by 2-3 percent over base sales. The use of data, economic indicators and consumer analytics becomes even more important when trying to achieve localization. It requires retailers to upgrade their internal analytical capabilities to accurately answer complex questions: How should product assortment in each store differ by region and by the unique demographics and characteristics of the trade area? How should they be promoted, and when? Social Media:  Forward-looking retailers are focused on social media, which is likely to become the next generation of e-commerce and a powerful new sales channel. While the sales volume in social media is still small, it’s expected to grow to US$30 billion by 2015, nearly half of which will be in the United States. To prepare for the future, retailers should be thinking about capabilities they will need to commercialize social media. They should be considering how to make the leap from getting customers to “like” them on Facebook to getting them to make repeated purchases. MAP ENABLED SOLUTIONS FOR RETAIL           Google maps and earth products allow retailers to benefit from maps and location like never before By overlaying store locations, customer data, demographics layers and competitor information on a Google map, retailers can use location to drive innovative marketing tactics and create new sales channels In this way, the map becomes a powerful data solution, or tool to for retailers to more effectively identify business opportunities Relevant Google offerings for retail include: Google Maps API and Google Maps Engine Google Maps and Earth bring several differentiated capabilities to an organization: Ease of Use Scalable Technology Customization Map Accuracy Data Security Please contact Lepton Software at sales@leptonsoftware.com or visit www.leptonsoftware.com for further information.

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