There is rapid change occurring as consumers switch to online retail. E-commerce sales are growing at 15-20% a year, with a savvier, less loyal consumer. Smaller, less frequent shopping baskets are typical with the majority of product sold on promotion. A wealth of rich consumer insight is now available as a result, especially from loyalty programmes.
However, many retail organisations are unable to keep pace as they are using manual and complex (back and front office) processes to plan, negotiate, and authorise promotions—and then assess the effectiveness of promotional spend.
- Supplying a business support platform introducing more discipline and control in the planning, spend authorisation, execution, and evaluation of complex product promotions
- Revealing the impact of promotions on existing product lines, e.g. cannibalisation—and adapting new strategies accordingly
- Modelling business processes and increasing automation using workflow tools
- Delivering cloud-based software as a service to meet the requirements of multiple stakeholders (account managers, sales, finance, IT)
- Automating more back office processes to accelerate information delivery—merging multiple data streams into a single platform
- Providing full 2-way integration with existing ERP, finance, and customer systems
- Implementing weekly inventory forecasting systems to help predict demand for different categories/styles/brands
- Personalising customer communications without increasing personnel headcount
- Enhancing customer experience to encourage increased expenditure