Digital Transformation in Retail Industry: What is it and its Benefits

retail shop

If you work in the retail sector, you know that one of the biggest challenges is finding the digital solutions to make your interaction with clients, stock taking and marketing efforts easier and more effective. 

When digital transformations take place and are put into action with a clear vision and goal, magical things can happen in the interaction we make and the work flows we encourage. But how can this happen? 

Through this blog you will learn the whats, the whys and the hows of digital transformation in the retail sector. Learning how to adapt your business together with your body of staff and the clients you service with the power of digital transformation. 

What is Digital Transformation to the Retail Industry?

When marketeers mention the term ‘digital transformation’, they are referring to the ways in which functionality is improved by means of digital aid and effort. The way in which we expect our systems to assist our work flow is highly dependent on the programming that we set that system to function with; if a system is not set up correctly we cannot expect it to revolutionise the way we work. 

With digital transformation practices in the retail sector, we can find ways of disrupting the old methods and employing new services for improved functioning of existing systems with technology as the backbone of the entire project. During this process not only can our ROI improve due to efficiency, it will also improve customer satisfaction and facilitate the customer journey as well as your collective body of staff’s experience in the workplace.

Whether it’s a simple program that improves the way you take stock in the company store or storage facility or perhaps an advanced means of tracking customer loyalty, the ways in which we digitalise our customers’ experiences with us while making the daily run of the job easier, will prove for a modern and successful business plan. 

Digital transformation in the retail sector is:

  • A retail experience that provides an omnichannel approach through the medium of social media as guidance.
  • The ability to shop online and access the same experience as if you were in the actual store; creating an in-store experience online. 
  • Relying on social media to inspire the masses and dictate the trends and settings via your brand’s image and selection of branded items. 
  • Optimising the ways in which we research, purchase, return and share the retail items we acquire. It also creates an easier solution to promoting the products you’ve bought with a simple link share.  

Why is Digital Transformation Important in the World of Retail?

Whether you’re working in fashion and beauty, stationery or appliances, food and beverage or the retail of construction supplies, a thorough understanding of your stock, the availability of products and the immediate access to them is essential. 

Imagine you’re running a brick and mortar store, a customer enters the shop and wants to know if they have the brown leather jacket on the in-store mannequin in a size 12 – the price tag reads €600 – you want to make the sale. Ideally, you would be able to whip up a list of that very jacket, identify the availability and instantly find the location of the item, be it in your shop, store or alternative location. 

This is all done by means of digital transformation and will not only give your clients the sense of attention that they deserve, but also what they very much expect. Sifting through shelves or boxes to find the right size will turn customers away, losing the sale and potentially the retention of the customer. 

And it’s not only about waiting time and appearing as a well put together company, it’s also got a lot to do with the advanced analytics that you can apply to each sale or customer – understanding what they access your store for. This will in turn help you to target their likes and interests in your marketing campaign or loyalty schemes. 

Digital transformations allow you to work smarter, not harder. This is where online retail options come into play.

What about online Retail Experiences?

Take the same concept and translate it to the highly competitive and easily manipulated online shopping experience. If you are interested in a brown leather jacket, trust and believe that Amazon’s bots, and all the AI technology that’s inbuilt into our devices and internet connections know exactly which jacket you’re looking for. They also know the price, the availability and the ease of delivery for that particular item.

The importance of digital transformation in relation to online retail possibilities is even greater because the minute your potential customer strays away from your online shop, perhaps due to slow loading time, incorrect stock take, poor user journey or simply due to loss of interest, the marketing traps will begin to descend. Google Ads, for example, will feature brown leather jackets, maybe even at a fraction of the cost, diverting your attention and trying to secure your purchase. 

Your job as a contender in the retail industry is to live up to the expectations of your customers and deliver an optimised and targeted service. 

Benefits of Digital Transformation for Retail  

Apart from the benefits in optimising sales and targeting the right clients with efficiency and ease, you will also see a difference in the work ethic of your employees. With their time targeted towards tasks of higher importance and responsibility, their headspace is cleared and focused on bettering their efforts and results on the job. 

When your retail workforce is equipped with a digital transformation that works and improves the day-to-day operations of a business, your staff are more likely to work productively and willingly on bigger projects that will in turn benefit your ROI. 

Contact 4Sight today for a retail digital transformation that will improve;

  • Your employees quality in work and happiness in the job,
  • Your customers experience in-store, online and even their retention,
  • Your company’s organisational skills and accessibility of stock,
  • Your marketing efforts for customer loyalty and further exposure as well as
  • Your brand’s overall image as a reliable and trustworthy retail brand or outlet.

Ready to reshape the future of your business? Explore the boundless opportunities with our Digital Transformation Services.