Innovating retail businessin the age of disruption

Mr. Retailer

Innovating retail business in the age of disruption

Disruption through technology has revolutionized many industries and one such industry, perhaps, where the impact has been most visible is retail.

Innovating retail business in the age of disruption

At the turn of the millennium, technology has brought about a huge shake-up in retail, in two ways:

ii) By adding more dimensions to the traditional methods of retailing

i) By bringing about a change in the perception of retailing and its customers,

A few insightful perceptions about retail innovation

Bridging the offline-online gap

For the customers, retail is only about getting their order fulfilled. It is up to the retailer to figure out the process to make sure they meet the customer expectations on time, budget and quality, no matter what channel they have used to make the purchase.

A few insightful perceptions about retail innovation

Predicting the problems in advance

Retailers need to use the art and science of forecasting not only sales and profits, but also pain points that could surface in the future.

A few insightful perceptions about retail innovation

Data driven retailing

Any retail business can be successful if it has the required resources to track, collect, measure and analyze data. The outcome of the analysis would definitely equip retailers to take calculated risks rather than simply going by their intuitions.

A few insightful perceptions about retail innovation

Going beyond the customer experience

Great customer experience is a relationship that every customer has with their preferred brand or product, and thus other entities involved. Hence, retailers need to provide a better and distinguishing experience for customers to get hooked on and stay loyal.

Every year, 50,000 retail associates use ETP to serve 150,000,000 consumers, selling

USD 5,000,000,000 of merchandise. More than 300 brands in over 20 countries,

across 10 time-zones, in 200 cities, at 25,000+ stores, in 5 languages run on ETP.

Australia, Bahrain, China, Egypt, Hong Kong & Macau, India, Indonesia, Iraq, Jordan, Kingdom of Saudi Arabia, Kuwait, Malaysia, Oman, Qatar, Singapore, Thailand, The Philippines, Tunisia, U.A.E., Uzbekistan, Vietnam and Yemen

www.etpgroup.com