Lots of the news coming off the retail press concern how our purchasing behaviours are being transformed by the ever improving customer experience offered by online shopping. However, the traditional retail store is also using modern technology to improve sales performance.
The availability of customer data to retailers has greatly
increased due to the distribution of information and data that consumers share via e-mail and social media interactions. Businesses are using this insight to empower their high-street expansion plans. Retailers are analysing the local area, customer demographic, purchasing behaviours and presence of competitors to define the optimum location for new store openings and layouts, all thanks to the insight generated by big data.
By making calculated decisions behind new store openings, retailers can give customers a viable choice between e-commerce and the physical store, with both being deemed convenient and accessible to create an omni-channel shopping experience.
Innovative ERP systems such as Microsoft Dynamics AX for Retail, can help retailers collate big data from point of sale, as well as information from other sources such as social media via the CRM modules to generate further insight. Using this insight, retailers can not only plan new store locations and layouts, but offer additional services to customers to create an industry leading shopping experience that spans multiple channels seamlessly between online and in store.