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Digital transformation: How retailers can thrive in the new digital environment

Navigate the path to successful digital transformation. Through deep industry expertise, modular, customizable solutions that meet real needs, we help you stay ahead of customers’ needs and reduce costs.

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Digital transformation: How retailers can thrive in the new digital environment

  1. 1. Achieving Digital Transformation How retailers can thrive in the new digital environment RE TAILER $15-30B e to stim cr or at im ga ed e ni lo th ze s is d se ye re s d ar 1 ta ue il 1. 13% of dissatisfied customers tell more than 20 people 2 89% $1.2T Because customers know more, and expect more, you have to deliver more. More value, more service and more of what they are looking for. And when you do, you get more, too: customers, incremental sales, and positive reviews. 67% 18% Ecommerce sales are up from this time last year 2. Re-define the shopping experience 37% Abandoned shopping carts. Showrooming. Customer dis-loyalty. All of these are signs your shopping experience is less than what your newly empowered customers demand. Turn those metrics around by analyzing the why of abandonment, offering real-time, targeted promotions, and converting the tire-kickers into wallet-openers. Retailers expect $2.9B loss due to return fraud this holiday season11 5 50% Fewer than of retail businesses survive after four years6 6-7x It costs of shoppers abandon online shopping carts Only of consumers began doing business with a competitor following a poor customer experience4 in excess stockpiled merchandise3 Deliver value to empowered customers 86% of buyers will pay more for a better customer experience. But only 1% of customers feel that vendors consistently meet their expectations8 2014 more to acquire a new customer than retain an existing one7 3. Drive operational efficiencies Higher revenues are great, but only half the profit equation. New technologies give you the capabilities to better match supply and demand; connect partners, suppliers, and channels into one seamless order-to-sale supply chain; automate fulfillment and reduce customer support costs; and minimize losses due to fraud. Tata Consultancy Services delivers solutions that help organizations navigate the path to successful Digital Transformation. Through deep industry expertise, modular, customizable solutions that meet real needs, and an “experience certainty” commitment, TCS helps retailers stay ahead of customers’ needs and drive down costs. Sources: 1. FBI, 2. White House Office of Consumer Affairs, 3. IBM, 4. RightNow CEI Report, 5. US Census, 6. Entrepreneur Weekly, 7. Lee Resource, 8. RightNow CEI Report, 9. comScore, 10. Forrester, 11. National Retail Federation, 12. Neilsen, 13. EConsultancy, 14. Aberdeen 9 of brands received good or excellent customer experience scores this year10 90% of customers trust recommendations from their friends or peer groups 47% trust the company advertisements12 26% of companies have a welldeveloped strategy in place for improving the customer experience13 69% of retailers have no way of seeing their suppliers’ inventory14 www.tcs.com

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  • rbelmar

    Jun. 3, 2014
  • colin_tywong

    Jul. 8, 2014
  • Gudimetla

    Mar. 30, 2019

Navigate the path to successful digital transformation. Through deep industry expertise, modular, customizable solutions that meet real needs, we help you stay ahead of customers’ needs and reduce costs.

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