How To Make Digital Transformation in Retail Work For You
Evolve your business with a retail digital transformation that elevates the customer experience, increases efficiency, and improves business performance.
Trusted by leading global enterprises, AVIO’s award-winning approach empowers your organization with tools to thrive on the constantly evolving digital landscape.
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Companies who trust AVIO
Technology That Prepares Your Retail Business for the Future
Digital technologies for retail have evolved into intelligent, hyper-connected systems that enhance the purchase experience, improve delivery times, and generate data to power marketing strategies and optimize internal operations.
Some of the most critical trends include:
Artificial intelligence (AI) and machine learning (ML) continuously collect and learn from data to progressively improve the functionality of a machine or application. In retail, AI and ML-powered software helps businesses personalize buying experiences, optimize prices, provide customer support, and more.
AI-enhanced tools additionally help managers develop budgets, forecast product and service demand, and optimize inventory management. Uses of the technology are increasing as more data is collected, making AI and ML-powered applications critical to the future success of retail enterprises.
Platforms like Facebook and Instagram offer retailers direct sales channels for their followers to discover products, make purchases, and share them with other users. Referred to as “social shopping,” these platforms complement an omnichannel sales strategy by offering additional opportunities for customers to buy products and services.
Retailers using these services can additionally take advantage of benefits specific to social media, such as the use of influencers and celebrities to promote products on the platform.
Customer segmentation strategies are evolving as more user data is collected, eventually pointing to a “segment of one” that enables full personalization.
Full personalization customizes the shopping experience and improves customer engagement. Recommendations and advertising are tailored to each shopper instead of their overarching demographic using factors that include their shopping and browsing history, location, and social media behavior.
Is Your Technology Up to Speed?
Or is it holding your business back? Schedule a complimentary assessment with one of our experts to learn if your current setup aligns with industry standards and best practices.
We’ll discover areas that may need improvement or optimization, and see how your systems measure up to your competitors.
Evolve Your Retail Operations with MuleSoft and AVIO
Leverage the benefits of digital transformation in retail with MuleSoft’s Anypoint Platform.
MuleSoft Anypoint integrates information, systems, and processes into a cohesive, data-driven environment that generates engaging shopping experiences for your customers.
Get a 360-degree customer view
Integrate and connect customer data from multiple sources, including marketing software, enterprise resource planning (ERP) applications, and point-of-sale (POS) systems to create a single view of your customer. Powerful tools increase conversion rates and help you deliver a personalized experience throughout the buying process.
Integrate all sales channels
Put your products in front of customers on their preferred online or offline sales channels, including bricks and mortar stores, websites, mobile apps, and social media platforms.
MuleSoft AnyPoint keeps all channels connected to ensure full integration, personalization, consistency, flexibility, and a seamless customer experience.
Automate supply chain management
Major online retailers have changed customer expectations by providing greater product selection, shorter delivery times, and 24/7 customer service. Stay competitive with MuleSoft technology that delivers real-time data from multiple sources to optimize product availability and improve order fulfillment processes.
Digital Evolution Solves Legacy Challenges
Technological initiatives such as AI, ML, augmented reality, and the Internet of Things (IoT) benefit businesses, however true transformation in the retail industry hinges on the ability to access and utilize data.
The process isn’t always straightforward and comes with numerous challenges that include:
Lack of application integration
Data connectivity is critical to transforming retail operations, from supply chains to customer deliveries. Legacy systems hinder the process by creating data silos and bottlenecks that reduce data utility.
Digital transformation in the retail sector addresses this issue with modern systems and processes that permit the free flow of data. This enables retailers to create unique customer profiles that applications can use to customize shopping experiences and improve supply chain visibility.
Customers are increasingly ordering online with more options and lower prices than ever before. Digital evolution helps retailers gain a competitive advantage through data-powered applications that analyze consumer behaviors and preferences to meet new demands and optimize prices.
Increased supply chain complexity
Supply chains are the foundational mechanism that power retailing across all sectors. However, breakdowns and disruptions like those experienced in recent years can paralyze businesses.
Digital innovation helps solve some of these challenges through retail IoT solutions that provide full visibility, informing retailers and customers about product availability and shipping times.
Case Study: How Mad Mobile Unlocked New Business Opportunities with AVIO
Mad Mobile partnered with AVIO Consulting to upgrade Concierge, a mobile app and point-of-sale system that enables retailers to sell items online and in-store, connect with customers, fulfill orders, access customer marketing data, and more.
AVIO incorporated video and chat-based functionality into the app to enhance the customer experience and unlock new opportunities for the company.
Advantages of Retail Digital Evolution
Innovative digital applications enhance all components of the retail experience, enabling your enterprise to:
Connected digital tools provide insight into buyer preferences that increase upsell opportunities online and in stores. These can include recommended or similar product lists and complimentary “cross-selling” products that can be added to carts before checking out.
Access to real-time data provides actionable insights that strengthen marketing campaigns across all sales channels. Data additionally enables effective market segmentation, enabling you to target users at every point in the customer lifecycle.
AI and ML-powered tools generate valuable insights into what consumers are viewing and purchasing. Connected software provides access to this data, enabling you to create precision marketing campaigns that increase conversion rates.
Modern e-commerce tools give online shoppers detailed product information and demonstrations, which can reduce the need for sales staff. AI-powered chatbots are also constantly improving, allowing customers to get the information they need without contacting service personnel.
Improved purchasing experiences also reduce return rates, which can lower the burden on your customer service team.
Digital Evolution for the Retail Sector
The retail market is constantly changing to adapt to the shopping habits and expectations of digitally-native customers.
AVIO empowers retail enterprises with a powerful API-led approach that leverages the power of data analytics to adapt to the changing retail landscape. Contact us for a complimentary assessment to discover how MuleSoft can accelerate your digital evolution.