To enhance customer experience (CX), organizations across industries have been raising the bar in their manufacturing processes, workforce management, operations, adoption of emerging technology and other areas.
The retail sector is no exception to this trend. While it has retained its longstanding human-centric approach to enhancing customer experience, it has also been quick to embrace next-gen technologies at the same time.
From redefining user experience (UX) with improved user interfaces and platform engineering to supporting online shopping experiences and payment processes, retail players have always focused on providing their customers with best-in-business experiences.
HCLTech has been helping its clients overcome challenges to meet their needs in the retail space with a connected experience. Amid increased automation in this space, harnessing data is unlocking the true power of AI-ML, helping businesses adopt sustainable ecommerce practices at scale.
In this article, Trends and Insights explores the role of an omnichannel commerce platform in this transformation and the benefits it brings.
What's an omnichannel commerce platform?
An omnichannel commerce platform contains personalized customer touchpoints across channels. These touchpoints seamlessly integrate, allowing customers to switch from one channel to another without needing to restart the interaction.
For example, let's consider Starbucks. Whenever a consumer pays with the retailer’s card or through their personal wallet, reward points automatically accumulate. The Starbucks app helps users locate nearby joints where they can order their cup of coffee in advance. Customers can also use the app to send gifts, check out changes in the menu and even view songs playing in the store and add them to their personal Spotify accounts.
Pizza Hut, Amazon, Sephora, PUMA, Crate & Barrel, Walgreens, OYO, Singapore Airlines, Apple and Disney Theatrical Group are other brands that have deployed omnichannel platforms.
This process allows a customer's journey to start on one channel and end on another and empowers brands to showcase products on social media platforms that enhance UX.
“At its core, omnichannel commerce represents the seamless integration of various channels through which a retailer interacts with its customers. It goes beyond mere multi-channel retailing by ensuring a consistent and unified experience across all touchpoints – whether online, in-store, via mobile apps or through other digital platforms,” says HCLTech's Sreejith Kolore, Associate Vice President, Retail Consumer Packaged Goods (RCPG).
“The hallmark of omnichannel commerce is its ability to synchronize data and operations, enabling customers to transition effortlessly between channels while retaining continuity in their shopping journeys,” adds Kolore.
Among reasons stated by Kolore for why RCPG companies are finding it beneficial to opt for an omnichannel commerce platform is the exponential rise in number of customers opting for online shopping.
Other reasons include the opportunity to maximize existing physical assets, increase personalization, enhance customer engagement and take advantage of the 'extend aisle' option that enables showcasing and selling products not available in the store — all while offering virtual customer service and sustainable business practices.
How can technology companies like HCLTech help retail companies in this endeavor?
Let's look at a large beauty retailer in the US that wanted to transition from a legacy IT architecture to a flexible, microservice-based platform to attract and retain customers while enhancing CX, customer communications and CSAT. HCLTech fortified the retailer’s strategic and technical infrastructure with an advanced omnichannel solution that harmonized physical and digital consumer touchpoints.
The platform is high-performing, visually appealing, immersive and omnichannel (for iOS/Android mobiles, tablets, laptops and more). This agile platform fueled the retailer's growth and created the perfect foundation for innovation.
HCLTech is currently engaged in migrating the business control center, customer reporting and customer support center applications to the cloud, as well as enhancing the search engine, carts and checkout services.
In another example, a leading US-based supermarket chain partnered with HCLTech to integrate an omnichannel retail model and revamp its fulfillment and replenishment systems with enhanced shopper analytics. The collaboration also sought to capture real-time data across all customer touchpoints to extract actionable insights.
To design a tailored solution, HCLTech carefully assessed the client's current business landscape, incorporating inputs from C-suite executives, store professionals and key stakeholders.
Proposal for an IoT-based real-time in-store insights (RII) solution, utilizing advanced laser-beam spectrum technology to anonymously monitor customer movement, safeguarding customer privacy was also shared with the client.
HCLTech’s RII solution helped the client accelerate the store’s organic growth by reducing inventory shrinkage by up to 15%, labor costs by 20% and marketing costs by 20%. The solution also kept the window open for potential future initiatives, including mapping truck fleet movements and providing greater supply chain visibility.
The role of an IT partner
With the introduction of omnichannel commerce, technology partners like HCLTech contribute to a paradigm shift in how retailers engage with customers and conduct business.
With deep retail industry experience and expertise, HCLTech adopts a customer-centric approach, seamlessly integrates various channels and leverages advanced technologies — like AI and ML, data analytics, cloud, virtual reality, augmented reality and IIoT (smart factories and connected systems) — to help clients optimize their omnichannel operations.
Also, this omnichannel commerce platform delivers personalized customer experiences and drives business growth with more customer engagement, loyalty and ease of doing business.
HCLTech WISE Retail
In this landscape, where the latest technologies and an omnichannel commerce platform are redefining CX, HCLTech WISE Retail is an industry-focused omnichannel solution — loaded with high-end features — that helps retailers reimagine and optimize their commerce and business operations.
Accelerating workplace modernization and bringing fluid workplace solutions to the retail sector, WISE Retail enables enterprises to address specific business challenges and achieve enhanced workforce productivity and improved shopping experiences.
As the retail industry continues to evolve, organizations that embrace omnichannel commerce and invest in the necessary technologies and capabilities will thrive.
Solutions like WISE Retail will expedite the digital transformation by creating a cross-generational workplace, optimizing a store's real estate and proactively managing the digital estate with smart stores and omnichannel retail to deliver tailored field services, optimized business outcomes, superior CX and higher workforce satisfaction and retention.
