With the Holiday season upon us, the flurry of deals and discounts are on the offer all around us. The customer spending’s are at all time high and the world of retail is cherishing every bit of it. The retail sales in the year 2018 as of now have been $24.86 trillion and are expected to grow up to $27.73 trillion by the year 2020. If anything, it is a clear sign that the world of retail is growing faster than ever before, primarily online, but the offline sector is not too far behind. However, online is where the action is. Offline retailers in current times not only competing with the online behemoths like Amazon but also with their fellow retailers. And in such a competitive market it’s imperative to remain relevant and to keep up with the changing trend to make your business survive and eventually, thrive.
The modern digital landscape demands a tad more than a brick and mortar store accompanied with a website online to stay ahead of the competition. New tools, platforms, and software developments have made digital transformation the order of the hour for pretty much every retailer looking to keep their business afloat. And while many retailers are on-board the digital transformation bandwagon, there still is a significant number of retailers who still are far away from anything digital. While it has taken a toll on their business already, it can be devastating in the coming years. So, if you are among those or are just getting to terms with the ongoing digital transformation around us, we are alongside you in this transition and will help you in every possible way. But first, let’s lay down the basics and understand why do you need a digital transformation and why your business needs to evolve with technology to remain relevant.
What Is Digital Transformation?
Despite the widespread technological breakthroughs, for a lot of retailers, a digital transformation ends with getting a website for their store. But in real fact, it actually starts with getting one. So, if you have one (or not) the journey has just started. With online shopping platforms like Amazon disrupting the e-commerce sphere with their technological prowess, a successful digital transformation will need a lot more than a website. Studies have shown that the retailers who have adopted technology for their businesses have experienced almost 6 percent of revenue growth in the past 3 years or so.
Some of the general changes that technology has brought into the world of retail to help the businesses serve their customers better include personalized customer experience, on-demand services, contextually relevant offers, and a seamless online shopping experience. Some others have gone a step further by bringing in mobile apps, secure payment processing, listing their businesses on product discovery platforms like Taglr or just better in-store information on mobiles. In general, every retailer is ready to up their retail game in order to offer the best e-commerce experience to their customers and in return keeping their business at pace with the changing technological developments.
And if you are looking to digitally transform your retail business, here’s how you can do it.
Transforming a brick and mortar business digitally might sound a daunting task, but if you take one step at a time, it actually is not. Especially with product discovery platforms like Taglr. However, that’s just half the battle won. You still have a lot of work to do.
Give your business a strong social media presence
You’ve got your business, good. But that’s not enough. Social media in current times has a huge influence on the shopper behavior and brands are leveraging the power of social media to establish a strong bond with their consumers. So, whether you own a small retail store in the neighborhood or run a multi-store retail chain, it’s very important to have a strong social media presence to connect with the shoppers where they are. With the growing number of smartphone users, most of the shopping decisions these days are made over social media platforms like Facebook, Twitter, or Instagram. So, if you want to take your products, offers, and latest updates on your business straight to the fingertips of your shoppers, you need to give your business a social handle. It’s easy, simple, and incredibly beneficial if you are just starting your digital transformation.
Understands the consumer requirements
In the current age of high-speed internet and smartphones, the attention span of modern customers is really fickle. In the digital world, consumers want things to happen quick and fast, so if you are moving in this direction, it’s vital that you avoid any delay in your products or services. You also need to tailor your products and services differently for a different set of users. You also need to take into consideration that every new technology you implement to your business will take some time to be accepted and adopted by your customers, so you need to trade carefully. It’s highly recommended to have an attentive customer support available to make sure that you don’t lose any customer due to a small delay in the product or service.
Get a dedicated IT department
This is applicable for the businesses who are looking to do everything in-house as opposed to adopting platforms like Taglr, which takes your business online in a jiffy and provide complete IT infrastructure and support to your business. Having an in-house IT department will ensure a smooth running for your business and will make sure that all your customer grievances are addressed at the earliest. Your IT department will also make sure that the new tools and technologies are integrated on a timely manner for business gains. This will help you run your business alongside the online shopping behemoths like Amazon at their own pace.
And that will be all. We think we will evolve with the changing environment with time, however, in the retail industry, the change will not happen if you don’t make it happen. So, if you are still thinking about digitally transforming your business, we suggest you stop thinking and act. ')}