How retailers can rediscover and deliver their purpose
Retailers everywhere are having to ask themselves some tough questions. Buffeted by the onslaught of disruptive digital competitors, many are struggling to connect with consumers in today’s integrated marketplace. Now that customers expect to shop everywhere, whenever and however they wish, retailers must rapidly work out what they mean to customers and how they can deliver on a renewed sense of purpose.
Having invested a lot of time and money in creating a more intelligent, engaging digital customer front-end, they are now confronted with a digital asymmetry between their enterprise operations and digital customer channels. In other words, retailers are now finding it hard to keep the digital promises they’ve been making to customers. Without reestablishing the symmetry between front and back office they won’t be able to provide the relevant and memorable customer experiences that are so essential for becoming an intelligent retail enterprise.
What does an intelligent enterprise look like?
Retailers must reimagine their organization—that means investing in new capabilities to transform enterprise operations so what happens on the inside supports the digital promises made on the outside. With foundational new technologies and a decoupled "future-ready" architecture, retailers will be equipped to unlock potential streams of new business value.
Why does enterprise-wide intelligence matter so much? Because without it, retailers can’t deliver the fluid and personalized experiences customers expect—and they’ll rapidly lose relevance and ultimately fade from view. Retailers must be able to share intelligence across an increasingly diverse ecosystem of partners—from fulfillment to product and experience design to complimentary services. This will be vital to provide holistic consumer solutions, and secure key capabilities that consistently bring a retailer’s purpose to life at each and every customer touchpoint.
Powering the intelligent retail enterprise
What’s needed is an intelligent platform to bring all this together—retailers must bring all the data at their disposal into one place, through a single platform, where new technologies can be applied to it, in real time. It will become possible to pick and choose where to apply intelligence, at the moment of need, to reshape execution, teams and business models.
New SAP® solutions and technologies and Accenture myConcerto provides the platform for building the intelligent retail enterprise. Offering retailers the opportunity to harness an insight-driven approach with powerful analytics and digitally enabled processes that will help enable them to engage all their customers with constant relevance.
And in a world in which fulfilling their purpose is the retailers’ overriding priority, getting this right is not an option.