All
DIGITAL
 
TRANSFORMATION
 
TRENDS
IN THE RETAIL AND CONSUMER INDUSTRY FOR 2020

All

What is digital transformation

Digitalization takes on a very specific sense when it comes to retail. It can be defined as a process of implementing modern technology to ensure success. This reflects the need to adjust the working prinсiples of retail in order to accommodate the constant change in the way customers buy. This transformation includes how stores use digital technology to revolutionize the experience in-store, as well as reshaping everything from finding a local physical shop to paying for goods without staying in long queues.
 

In fact, digital transformation determines how retailers interact with their consumers. It covers how businesses engage with their customers, serving them and selling to them while taking into account their views and experiences in order to reshape both the organization and marketing.
 

A retail business’s front-end part focuses extensively on customer acquisition, retention, SEO, site interaction driving, cross-channel communication. While the back-end works on the efficient running and development of the eCommerce site, the ERP, CRM, web, software, and POS, not to mention working with emerging Machine Learning and Artificial Intelligence tools to help optimize the front-end marketing behavior.
 

You can find more information about how chatbots, AI and ML are implemented in eCommerce and see the real examples in our article.

Why digital transformation matters

Digital transformation is obviously crucial to retailers ‘ success as it guarantees that they remain competitive in an ever-changing industry.
Recent researches show that retailers are very concerned about digital transformation, with 66% of respondents ranking it as “crucial.” The study also showed that retailers are making progress on their digital transformation plans, with “well on their way” to digital transformation reaching almost half of respondents.
 

The main purpose of digital transformation is to boost customer service and provide a competitive advantage in attracting and retaining consumers. The research found that customers are driving the need for digital transformation, with 51% of respondents reporting that their primary driver for transition is the customer. This central position ensures that the process must be client-centered across both the front-end and back-end roles in order to meet the demands of increasingly complex and challenging users.

Top three trends in digital transformation in the retail and consumer industry

SMART SHELVES
 

RFID tags and RFID scanners are technology that enables smart shelves. Radio Frequency Identification tags are attached to goods and products and their electromagnetic field and hidden information can be read by a special sensor. If there are no goods left, a shelf fitted with such a device will track the number of products and goods. The smart shelf system also monitors and warns if the items have been lost and need to be returned to their positions. If the items you sell in your shop require special storage conditions (e.g. those spoiling fast outside the fridge), such a device can be critical. As well as all that, such an advanced shelf system works perfectly against shoplifters as easily as possible.
 

Smart shelves also monitor the most popular items and fastest-sold ones. These details help retailers prepare for the purchase of products to meet the needs of consumers. And a warning about an expiration date is one more vital benefit of such a device. A shelf will remind you of the items that have not yet been sold but will soon expire.
 

SMART BEACONS
 

Bluetooth Low Energy apps, such as beacons or other IoT sensors, can connect mobile phones of consumers (when the Bluetooth mode is on) and deliver alerts of products, facilities, deals or special offers from a store when a person passes through that location. Beacons can work with smartphones as well as smartwatches. Ask a customer if they agree to receive notifications from your store and use various loyalty programs and rewards to invite visitors to your place. In this way, beacons retailers encourage consumers to visit their locations and increase sales.
 

STORE MOBILE APP
 

As an option, you can create an app like IKEA. Their first mobile app didn’t allow customers to buy, just to review the catalogs and see the goods arrangement in a physical store. Such an app can save customer’s time when they are looking for something in a big store. The other way is a fully-functioning mobile app development where users should register and can collect some bonuses.

Key things you need to innovate in retail and consumer industry

CONSUMER EXPERIENCE
 

The customers of today do pay attention to experience. And if yours is not in line with their wishes, you have a question. Here is an example Just 4 percent of UK customers claim they will choose to engage with a company that provides unsatisfactory services in user experience. And they are constantly evolving their interpretation of what is’ satisfactory.’
 

Then, what is the best solution to keep up with the pace? Use data and feedback to innovate and develop a seamless consumer-friendly experience. More buyers will be gained, engaged and kept, gaining a competitive edge to unlock top-line performance.
 

CORE ENTERPRISE
 

In any business, the enemy of innovation and agility is complexity and fragmentation. For trade and sale, this is more true than anywhere else. It is a market where rapidly growing start-ups inevitably hit a tipping point where their original strength is undermined by size. The approach is to digitize and automate the main business processes at scale and maximize the advances in automation. We understand the importance of technology, but only part of the solution. Success also relies on your employees having the right technical capabilities, so that you can take full advantage of this development by making sure it is embraced.
 

SUPPLY CHAIN
 

Earlier, the companies were able to design and manufacture goods at their own speed at one hand. Consumers bought and ate them at the other. But the polarities have now turned back. The most competitive supply chains of today are multidirectional: using closed-loop feedback, where your people and customers work together and innovate together to improve the purchasing experience, at the same time reducing product development cycles to a few days.
 

Tips for leading the digital transformation
 

Many companies do not have development teams and do not want to have them, so the key to digital transformation is often held by third parties. Digital innovation relies heavily on improvements in the systems and technology at the front and back end that a business uses and how these changes can be put together. This requires a lot of reconnection of existing systems and the integration of business functions, employees and cultures, and the technology itself most importantly.

Research, data, and findings concerning digital transformation

A big number of researches and studies were conducted as long as the digital transformation is targeting at satisfying customers’ needs. We outlined some factors we recommend you to pay attention to when making your digital strategy.
 

  • Convenience vs price issues. Both matters a lot, and digital transformation can make them work for each other;
  • Awareness is more than important. 40% of respondents say sales associates with broad product range awareness are valuable to them (and you can include knowledge of other retail-related information such as inventory status).
  • 27% of the research participants claimed to regularly use of click-and-collect services
  • Profound research before buying: 28% of respondents use their smartphones to look for product information and compare prices when out shopping.
     

Summing it all up, the fast pace of retail industry development is worth investing in it. New technologies are emerging all the time and it is all due to the rising customers’ demands. If you want to stay competitive – keep up with the times. Don’t hesitate to contact Sapient Pro if you feel like you need a piece of professional advice with what your business needs and the helping hand in the implementation of the necessary technologies.

DEVELOPMENTSTARTUPWEBDEVELOPMENTECOMMERCEBACKENDMOBILEDEVELOPMENTDESIGNELEARNINGTESTINGFRONTENDARTIFICIAL INTELLIGENCEDEBUGINGMANAGEMENTMARKETINGSAPIENTPROBLOCKCHAINCUSTOMERSQA/QCSaaSNEWS TEAM BUILDINGESTIMATION
related news
1 (1).svg
DEVELOPMENTHOW TO AUTOMATE DATA EXTRACTION

So what is a data extraction and why would you automate it? Data extraction or scraping isn’t just searching for the information you need on the Internet. Modern challenges in web economics demand a bigger-scale approach. The amount of data you need to analyze grows exponentially due to a great number of factors. Only by gathering a huge amount of data simultaneously can you mine data and find necessary trends, which will provide new opportunities to your business.

avadata.svg
DEVELOPMENTTHE BEST WEBSITES BUILT WITH LARAVEL

Building websites for special purposes and services is difficult. You have to keep up with modern challenges as well as fight for the speed, performance, and security of the software you develop. To achieve this web developers often use frameworks to deal with tasks faster and more effortlessly. Since most of the websites, web services, and applications are built using PHP it is important to be aware of all novelties regarding frameworks for PHP developers. One of the most useful and popular frameworks for PHP programming languages is Laravel. This open-source framework is used for a vast majority of middle-sized PHP-based projects nowadays. But why is it that popular? Due to many things, actually.

1 (2).svg
SAPIENTPROTHE ULTIMATE GUIDE ON DEVELOPING YOUR FINTECH APP

Old-fashioned approaches to finances and economics are already history. Why is fintech getting so popular? It is faster, more accessible, and more flexible. Fintech apps’ appearance was one of the main recent trends in global economics. But what does one need if they want to design their fintech application?

Main.svg
DEVELOPMENTHOW TO BUILD AN INVESTMENT PLATFORM

If you are to run some kind of profitable or non-profitable project you have to raise money for it. In commerce it is called investment. There have always been many ways to receive financial support for your business. However, modernity has brought new instruments into this.

Main.svg
DEVELOPMENTHOW TO CREATE A WEB-SCRAPER

Scientia potentia est – knowledge is power. This ancient saying has been gaining importance throughout the ages. In the age of Information, when all the major human activities are transferred into the Internet and websites seem to be the main platforms for interaction between people and businesses, data analysis is crucial. Nowadays web-scraping as a web data analysis method is widely used by salesmen, politicians, news agencies, gambling lovers, and anyone who is informed about its benefits.

e-learning.svg
SAPIENTPROHOW TO BUILD AN ONLINE EDUCATION PLATFORM

Today neither students, nor teachers and professors can imagine their daily routine without online studying due to the ongoing COVID19 pandemic. Dozens or even hundreds of online services are being used daily by both scholars and education staff. However, it is not the pandemic we should give all the credit for online education to exist. Alternative ways of studying appeared as early as the XIX century. Advanced tech such as steam engines and the railway assured faster and more reliable correspondence delivery, thus making remote education possible. The very next important step towards online learning was made in the XX century with computers and the Internet being invented. In 1989 the University of Phoenix became the first institution to launch a fully online collegiate institution providing both bachelors and masters degrees. A few years later in 1994 the International University (Missouri) became the first fully online-based higher educational institution. Nowadays all major universities use online platforms to provide education services to their students. And again: it all has started even before the pandemic. Educational institutions used numerous platforms as secondary or even major tools in their work. The most advanced universities paid great attention to elearning platforms development. They used online platforms as a single place, where students could send their homeworks and get all the necessary materials to cram for their exams.

header.webp
DEVELOPMENTPHP for the integration of 2021 web development best practices

Web development trends for 2021 display society’s needs in the booming technological era. Simple dynamic pages and animations are not enough anymore to meet the demands of an average Internet user. The new tools make websites more convenient and engaging. For example, voice search saves users’ time. Internet of Things allows the connection between modern smart appliances. Progressive web apps provide better quality, speed, and offline usability. As a user, once you try a webpage packed with best practices and up-to-date features, other websites that lack innovation seem extinct. Before naming the most popular development trends, let’s understand why PHP goes well with them.

Kate

9 min read

header.svg
DEVELOPMENTHow to Build a Location-Based App

Real-time interaction has become a turning point in the way consumers use technologies. Just look! Instant messaging replaces small talks and makes group discussions more convenient. Search engines answer almost any question in several seconds. Navigation apps show destinations and even estimate the time you need to cover to get there. Modern software solutions make users’ lives easier in every aspect. Time-efficiency and convenience are now valuable assets in the world of technologies. Location-based apps are one of the ways you can enter this software market and yield profit.

Kate

6 min read

Background-13-1920x800.webp
DEVELOPMENTTHE IMPORTANCE OF IMPLEMENTING DYNAMIC PRICING STRATEGY

Long-term prospects for your business and immediate reaction to market trends - we acquire it with Dynamic Pricing Software. Active promotion and regular product extension is not all you should focus on by far if you want to get the most out of your eCommerce resource. Ultimately, you should be able to timely react to ever changing market tendencies and adjust your prices accordingly.Usually, you can see with a naked eye that the demand for certain goods is rising and your competitors start to boost prices. This superficial approach, however, can only be efficient if you have no more than a hundred items to manage. So how to go about these things when you have about a thousand or more items? Software tools for adjusting dynamic pricing for the eCommerce website will come in more than handy.

Ihor

10 min read

emile-perron-xrVDYZRGdw4-unsplash-1920x1080.webp
DEVELOPMENTBEST PHP FRAMEWORKS FOR ECOMMERCE: REVIEW FOR 2020

When choosing the right framework for developing an e-commerce website, we strongly advise you to pay special attention to performance.The first thing to consider while developing your business in the digital era is making it work online. The eCommerce is growing at a quick pace, providing business owners with numerous opportunities.Although, building a website for the e-commerce purposes is far from an easy task, as the online shoppers are more experienced now and their requirements are also higher, there are numerous ways to do that starting from simply adding an online shop to the existing website, up to building the site from scratch using PHP frameworks.If adding e-commerce function may be so easy with all those SaaS and CMS available, you may wonder why bother and implement complex PHP solutions. Our team has the answers, go on reading to find them out.

Background-15-1920x800.webp
DEVELOPMENTUSE OF CHATBOT, AI, MACHINE LEARNING IN ECOMMERCE: REAL EXAMPLES

Implementing Machine Learning and Artificial Intelligence may become your best solution to improve user experience.The pace at which the e-commerce industry is growing and enlarging nowadays is immense, as well as the people’s expectations. By 2021, e-commerce sales are expected to reach 17.5 percent of all retail sales worldwide. What else can be done to improve user experience and make online purchasing easier? Alongside with e-commerce, various technologies are evolving to meet the customers’ needs. Such terms as Artificial Intelligence, Machine Learning or chatbots are heard almost everywhere now. While some people express their concerns that AI will run the world soon and leave the people unemployed, more and more eCommerce business owners choose to implement new technology and reap benefits of it. Together with advantages, the eCommerce brings to customers, there are still some drawbacks and issues occurring while shopping online.

490094-PH1YT8-480-1620x1080.webp
DEVELOPMENTTIPS FOR BUILDING A SUCCESSFUL CUSTOM E-COMMERCE WEBSITE

Keep your website free from clutter. In most cases, it is better when it is simpler.Imagine you have two options: going to a brick-and-mortar store and spend there hours waiting in long queues or staying in your cozy home and order everything you need in just a couple of clicks. Most people would definitely go for the first one. This being one of the most significant factors why the eCommerce industry is growing so rapidly. Sure, having an e-commerce website is a plus to your business, but you should never forget about the complexity and many efforts you have to apply. Here the question arises: is it really worth it? Our answer is definitely yes! In this article, our e-commerce development team will tell you exactly what you need to know before starting building an e-store from scratch.

background-3-1920x800.webp
DEVELOPMENTGUIDE TO BUILDING SUCCESSFUL MARKETPLACE WEBSITE

Marketplaces provide then buyers with the opportunity to find everything they need in one place instead of time-consuming surfing numerous websites.With such an immense grow of e-commerce retail, investing in this industry is likely to become one of your best decisions. Every Year the e-commerce market is increasing by around 17% and now marketplaces account for nearly half of global online sales. The same as small shops are giving way to large malls, online customers tend to choose marketplace platforms over single-brand e-shops. Why not jump at a chance then and create your own marketplace website? This way you will provide your buyers with the opportunity to find everything they need in one place instead of time-consuming surfing numerous websites. In this article, SapientPro e-commerce team gathered what is important for you to know before building a marketplace website.

background-6-1920x800.webp
DEVELOPMENTINTEGRATING A PAYMENT GATEWAY IN E-COMMERCE WEBSITE AND APP

Without a payment gateway, you can develop an e-commerce business only if it is non-profit.Buying all you need at any time without leaving your cozy home has recently transformed from sensational news into an everyday routine. You could hardly find a person who has never tried online shopping. Although it is fast and convenient, there is one factor that makes the people abandon their virtual carts in the process of buying in e-stores – transaction security. Want your customers’ checkout go as smoothly as possible? Take care of secured and easy-to-use payment gateway for your e-commerce business!

wp_plugins_background-3-1920x720.webp
DEVELOPMENTTOP WORDPRESS SECURITY PLUGINS

Can you imagine living in a house without a lock in the front door? I’m sure you don’t really like this idea as everyone wants to feel safe at home. And if we talk of the online world, the reasons to lock the website are stronger, as the risks of someone getting into your site grow higher. The question of WordPress websites security is of the greatest importance. Why? Being the most popular website platform, WordPress became a great target for hacker attacks and malicious infections. So, if you care about safety, choosing a good security plugin must be among your priorities. The majority of problems with WordPress are connected with unsafe plugins. Note the important point that if you buy the license, the chance your site is secured would be higher. You can find a lot of such plugins on the Internet and for you not to get confused, we compiled five the most popular and reliable alternatives in our opinion, outlined their advantages and drawbacks.

Max

5 min read

More related news