Retail

Success is not a direct consequence of the evolution of business models or latest technology, but about their adoption. Companies which are geared to absorbing the changing business environment with the advent of new models and technologies, will succeed in the long run

Companies do not have the information they need. Who is the target customer, how does he behave, what drives his behaviour, what channel does he prefer to buy, how was his engagement experience, how much inventory do I have, where is my inventory, how productive is my workforce and so on…; the list is endless. The genesis of any form of intelligence is recording the data and then making sense of the recorded data. Companies have invested in systems and tools to start the journey but not enough in people which leaves a void between data to intelligence journey

Digital disruption is building 100% online businesses. At the same time, it has given birth to “clicks and bricks” concept as a way of leveraging various digital platforms—websites, social media, apps, for example—to engage and entreat customers into brick-and-mortar sales and fulfilment. Retailers have no choice but to have an omnichannel presence and seamlessly integrate product demand, inventory availability and fulfilment and customer experience journey, across channels

The newest generation has proven to be the most elusive for retailers to pin down. More than products, Millennials demand experiences. Retailers must change their product journey, customer journey and marketing models to stay relevant for the newest generation. We at Acuvon believe that the retailers should focus on solving for the following challenges, which if tackled correctly could lead to new opportunities and/or enhanced customer loyalty.