As we move through the recovery phase of the pandemic, retail digital transformation has moved from an option to a necessity. The reshaping of the industry has been accelerated by customer demand for greater omnichannel, hyper-personalization, and faster delivery times. Additionally, the pandemic triggered a major reevaluation of supply chains to improve their resiliency and efficiency.
While some retailers have been quick to embrace digital technology and reap the benefits, others have struggled to fully implement the necessary changes. Oro provides retail digital transformation services that are designed to help companies of all sizes achieve success. We offer an open and customizable platform that can easily be customized for the specific needs of each company. Our platform supports corporate structures, B2B workflows, personalized product catalogs, pricing calculation, ordering and checkout workflows. Additionally, we have an extensive ecosystem of partners that can provide additional support and expertise for all aspects of the retail digital transformation process.
The Role of AI in Retail Digital Transformation: A Comprehensive Guide
In addition to improving the overall customer experience, retail digital transformation offers a number of business advantages for retailers. For example, implementing digital technologies such as mobile POS can make it easier for customers to place orders in-store, while also helping employees be more productive. Additionally, the implementation of smart shelves and other automated solutions can help to reduce inventory management costs by eliminating manual processes.
Another benefit of retail digital transformation is the ability to increase revenue with upselling and cross-selling capabilities. For example, when a customer adds one item to their cart, retailers can display similar items that might be of interest, which has been shown to boost sales by 10-25%. Likewise, offering discounts or free shipping on additional products is also a cost-effective way to encourage more sales and boost customer loyalty.