Digital Maturity Critical for Digital Transformation Success
With 65% to 90% of sales are still transacted in the store and 54% of those sales influenced directly by digital content in the e-Commerce channel, digitizing the store is a sound investment. Giving store associates access to digital assets is critical for creating a better in-store experience. However, North American retailers are lagging behind their European counterparts who are blazing a trail toward digital transformation proof of concept by proof of concept. On this side of the pond, reluctant to make the sizeable investment in light of many publicized failed efforts, boardrooms need prodding with a clear, coherent digital transformation strategy that helps them conceptualize how digital technologies can impact business.
OneView Commerce's COO Linda Palanza believes that a successful digital transformation strategy must align with the organization's digital maturity. Learn how to assess your organization's digital maturity and how to move the needle toward improving innovation and decision-making.
- Transforming to a Customer-Led Digital Business in Retail Primer for 2016
- Miriam Burt | Robert Hetu
- 14 January 2016
Retail CIOs are challenged with becoming trusted advisors to deliver IT for customer-led digital business transformation. They must provide a modernized technology foundation to agilely mirror customer processes for competitive advantage in an industry-blurring business environment.
To empower digital business transformation, the CIO must deploy IT to enable the core competences of collaboration for innovation, excellence in data management and strong operational execution. Coverage includes:
- Digital business capabilities
- Industry fluidity
- Customer processes
- Collaboration with customers, suppliers and technology providers
- Digital business technology foundation
- Prioritization of technology investment
In a digital business world, digitally empowered customers expect multichannel retailers to sustain interactions with them that are connected, continuous, convenient, contiguous, consistent, collaborative and customized. For retailers, this is no longer about just understanding how consumers are shopping.
Digital Transformation Strengthening Discount Tire's "Customer for Life" Brand
To strengthen its "Customer for Life" brand and inspire customer satisfaction and loyalty, Discount Tire hit the road toward digital transformation. Stop one: empowering store associates with a total view of each customer's journey online and in the store enables them to personalize each interaction, better meet their customers' needs, and ensure they're equipped for safe driving. Tom Williams, Discount Tire's Senior Vice President of Customer Experience, describes how the program is fueled for success.
Integrating your online and physical stores
Today's customer uses a mix of online, call center, and in-store visits to select and purchase merchandise. This RIS News report explains the critical steps in optimizing sales opportunities by integrating online and physical stores:
- Breaking down silos in legacy applications with a digital store platform that delivers a 360-degree customer view
- Giving store associates mobile technology so they can deliver a superior shopping experience
- Providing all customer data so store visits become targeted opportunities
The Omnichannel Inventory Dilemma
According to a recent global study, out of 82 percent of in-store shoppers who experienced stock-outs in the past year, 65% of them took their business elsewhere or did not buy at all. In order to meet today's rigorous demands for order fulfillment of today's "I-want-it-when I want-it" culture and protect margins by optimizing inventory availability, retailers (and store associates) must have access to real-time inventory status across the entire omnichannel enterprise. Learn how transforming stores into "warehouses" speeds efficient order fulfillment, replenishment, even in a mixed ecosystem of corporate and franchised stores.