Today’s Retail Reality
In today’s ultra-competitive retail environment customers are demanding a consistent and seamless experience that delights them regardless of channel. As well, with increased competition for the shrinking consumer dollar, sophisticated retailers are increasingly turning to promotions in order to support their corporate objectives.
With that in mind, the past several years have seen a sharp increase in complex promotional activity as retailers have increased their use of special promotional offerings to drive customer behavior. Looking into the future, retailers want to make those special offerings available to their customers on all of their selling channels in order to provide a unified, flexible and consistent customer experience.
However, many retailers are struggling to deliver on that experience due to business systems that no longer match customer buying behaviors, merchandise priorities, or competitive pressures. As the number and complexity of promotion offerings increases, it is becoming much more difficult for retailers to deliver their promotion programs.
They face 3 major obstacles:
- An inability to automate the execution of complex promotions in store or online due to a lack of capabilities. This has forced retailers to either scale back on their promotion campaigns or place the burden of manually executing promotions on the cashier or online customer service, resulting in longer check out times and a high error rate.
- An inability to implement unified and consistent promotions across channels due to different platforms and tools and a lack of a single cross-platform promotion solution.
- Difficulty in creating complex promotions at the Head Office due to a lack of functionality at the ERP system level, making it difficult to create promotions quickly and cost effectively.
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