With the evolution of mobile e-commerce, the way people do business has changed greatly. And it seems in the last decade or so there have been many drastic changes that have had a major impact on retail sales. However, there is one thing that won’t change, convenience is the best competitor-now more than ever. In the 2020 retail trends outlook, the retailers need to position themselves to achieve the needs of market demand and pursue the challenge in the year ahead. As the market manager of Atomee, here I’ll talk something about the great changes of business trends for retailers.
- Online and offline integration retails.
Traditional retail needs to transform to the new online retail e-commerce, but not simply to open online stores, but to achieve online and offline integration. The traditional retailing process is redundant and adds a lot of artificial value to the process of getting goods from the source to the consumer, while the emergence of e-commerce enables merchants to ship goods directly from the source, saving a lot of intermediate links and allowing companies to make more profits to consumers, which will inevitably capture a larger consumer market. However, brands need offline stores to provide customers with a more engaging experience, as the offline strategies of companies such as Zara and Channel emphasize customer engagement, even though online costs are lower but there is no direct contact with customers. For companies, separating the two channels is not an efficient way to operate, and connecting them together makes it easier for customers to buy the products they want anytime, anywhere.
- All-source data integration
In the retail industry, there are many stores, many customers, and many sources, but the problem is that sales data is in one system, customer data is in one system, and product information is in another system, and the systems are not connected to each other. For the data-minded decision maker, knowing that there is an abundance of data available, but it is difficult to mobilize, can be even more painful. Often, decision makers need to see a metric to guide their decisions, but it can take a week or more from the time a need is raised to the time IT responds. The data you have is out of date and can only be used for replay. In 2020, more and more retail professionals will benefit from an all-source data integration tool – one that integrates a retailer’s scattered local files, cloud data, and data from third-party systems, while using online data processing tools to extract key metrics from them to create customized data sets. The time from request to report will be measured in hours or even minutes. Highly-paid data analysts or data scientists will have more time to analyze the data; managers will be able to use the first-hand data to make sales layouts, adjust marketing strategies, and so on.
- Operational refinement
Traditionally, retailers have operated in a loose manner. With the entry of Internet companies, the prices of many goods continue to decrease with the ability of enterprises to manage the supply chain and refine their operations. Businesses need to think about how to efficiently manage the entire chain, from supply chain to stores, reduce costs, reduce waste (labor, goods, information, capital and other waste), to do JIT (just right).And if you want to learn more about the New Retail E-Commerce, you can come to our new generation platform, we provide a new source and database for the retailers and customers to make beauty deals on our platform.