NEWSLETTER - AUGUST 2023

Evolution from #Ecommerce to #Frictionless Commerce: exploring the future of #Frictionless shopping experiences.

The frictionless commerce experience ensures customer loyalty and satisfaction. Retailers must modernize their brick-and-mortar stores in an omnichannel framework. Innovative solutions boost footfall, reduce costs, and increase profitability. However, new technology-based systems bring challenges that need remedies. Frictionless checkout is a significant focus.

Nearly 70% of consumers prioritize the checkout experience. These solutions provide a seamless shopping experience, enriching customer interaction. By 2030, machines will handle 67% of customer engagement. Adaptation is crucial to stay competitive in the future.

The latest frictionless shopping solutions incorporate advanced vision-based sensors and artificial intelligence (AI) to provide the next generation of shopping experience beyond self-scanning.

Challenges & How we overcome them:

1. Privacy & data security: Any frictionless commerce implementation must include robust DevSecOps,?
2. Standard solutions don't fit: Building a frictionless commerce experience requires customization to cater to unique business needs. Therefore, selecting scalable and sustainable technologies is critical for a smooth growth experience.
3. Delay in onboarding & integration: By working with a technology-agnostic, dedicated partner with years of experience in this emerging field, retailers can confidently invest in the right solution. For example, Retail Insights builds minimalistic solutions, eliminating components that are not needed?

Retail Insights provides a smart hybrid solution accelerator that provides both frictionless and traditional checkout options.

Over the last few years, Retail Insights with its deep expertise in the retail space, has built multiple innovative frictionless commerce solutions such as Walk-In Walk-Out (WIWO), Vision Checkout, Autonomous store in a-box, Scan and Go with Loss prevention, endless aisles, Electronic Shelf Edge labels etc. These solutions are tested and implemented across retailers who reaped multiple benefits from these Retail Insights frictionless commerce solutions.

2.

What's new

Check out our work achievements

• Acquired 2 new logos in the GCC region, a? brand aggregator with significant growth potential.
• Initiated discovery of an Omnichannel transformation project for large Grocery Retailers: Strategy, Platform Selection, and Replatforming Execution.
• Supported highly successful Mid-Year Sale Promotions with 100k+ Orders across brands and Retailers, achieving a 99% accuracy rate.
• Commissioned largest PIM (In-house) application for the Retailer with 200k+ SKUs, Workflow Management, Automated Content Rich with Chat GPT, and DAM.
• Employee Engagement Programs and Technical Upskilling Sessions.
• Ideation of Customer Engagement Programs, Retail Tech Event Participation in Q2/Q3.
• Revamp internal IT Operations with Our own DevOps Consulting Services.

3. Customer Speaks?

“On behalf of the # Large Socks Manufacturer Product Development team, please accept this note of sincere thanks for the excellent cooperation, collaboration, and quality of work of you and your team at The Retail Insights as we brought Concept to Purchase (CPT) o a successful conclusion – on time, and on budget!

In a nutshell: It has been a pleasure to make the acquaintance of every single member of the TRI team we have encountered along our journey. Please be sure to pass along our sincere gratitude to them for their never-ending flexibility and adaptability as ‘goalposts moved’ seemingly constantly throughout the process. We very much look forward to staying in touch as we move into the maintenance stage of our agreement.

Team:

We extend our sincere thanks to the CTP team at The Retail Insights, including Ravi Chandra, Mohini, Afshan, Owaiz, Prasanthi, and led by Abhishek Kini, for their outstanding cooperation, collaboration, and quality of work. Your flexibility and adaptability throughout the process were greatly appreciated. Looking forward to continued success in the maintenance stage of our agreement.

4.

Expert Implementation Partners for Magento, Salesforce, VTEX, Blueyonder, and Fluent Commerce - Delivering Seamless Solutions for Your Business Needs

?As Accredited Implementation Partners, we have expertise in Magento, Salesforce, VTEX, Blueyonder, and Fluent Commerce. Our partnership allows us to deliver exceptional implementations and provide our clients with seamless and integrated solutions. Whether it's e-commerce with Magento, CRM with Salesforce, or supply chain management with Blueyonder, our experienced team is ready to provide efficient and tailored implementations to meet your specific business needs. Partnering with us ensures that you will receive top-notch service and expertise in these cutting-edge platforms.

5.

Industry Insights: Emerging Trends in Retail Technology?

Growth of omnichannel retail: Adoption of AI:?

User-Generated Content (UGC) User-generated content (UGC) specifically pertains to content created and shared by users, such as videos and photos, which revolve around brands, retailers, and their products. In fact, a study by BrightLocal found that 88% of consumers trust online reviews as much as personal recommendations. Example : https://socialee.shop/

Enhanced Customer Service: ChatGPT's 24/7 availability empowers retailers to offer round-the-clock customer service. Customers can seek assistance at any time, resolving issues promptly and reducing response times significantly.

Hyper-Personalization: ChatGPT can analyze vast amounts of customer data and preferences, enabling retailers to deliver highly personalized shopping experiences. From tailored product recommendations to personalized marketing campaigns, retailers can create targeted strategies that cater to individual customer needs and preferences.?

Seamless Conversational Commerce: The ChatGPT era will witness a seamless integration of conversational commerce into the retail landscape.?

Augmented Reality (AR) Shopping: AR technology can create immersive virtual shopping experiences. Customers can virtually try on products, visualize how furniture fits in their homes, and explore various options before making purchase decisions.?

6. Check out our new content! We have blogs for you!

• Empower Retail Success with Retail Insights’ Magento Solutions
• Revamp Your IT Operations with Our DevOps Consulting Services
• Transform Your Business with Retail Insights: Your Perfect Offshore Technology Partner
• Harnessing Retail Insights for Enhanced Generative AI in Omnichannel Retailing

Read more on .www.theretailinsights.com