Why it's time to rebuild retail's foundations
LONDON, Nov. 9, 2020 /PRNewswire/ -- In an article published on Business Reporter, Romulus Grigoras, CEO of OneStock, explains how agile order management systems are now essential for retail brands.
The pandemic has generated enormous change in the retail industry, with a surge in ecommerce and empty town centres. The shift in shopping preferences towards an omnichannel experience, where consumers get a consistent service however they shop, online, via mobile or in store, has been accelerated. These new habits are unlikely to change.
Retail brands have been skilled at providing high levels of service in-store. The need now is to find innovative ways of emulating this level of service online. For instance, some customers may require home delivery but others prefer click and collect, either in-store or at a third party location. Delivering on customer preferences is essential.
In addition, a new approach to stock and order management is required. If stock is plentiful in stores but low in the warehouse, orders may be lost if the retailer does not have visibility of the situation or if they are unable to ship from store.
In this new world, online is the flagship while stores and contact centre staff have new roles, advising customers, processing orders and managing click and collect. Furthermore, retail brands have an opportunity to capture more customer data, enabling them to build rich and valuable CRM profiles.
To learn more about agile order management systems, read the article.
About Business Reporter
Business Reporter is an award-winning supplement published in the Sunday and Daily Telegraph, City AM and online, delivering news and analysis on issues affecting businesses to a global audience. It also hosts conferences, debates, breakfast meetings and exclusive summits.
OneStock provides an agile order management system (OMS) that facilitates omnichannel retail. The OneStock OMS enables retailers to create a unified vision of stock wherever it is held (warehouses, retail points of sale, suppliers) and provides a consistently high quality level of service that connects customers with product, including order online or instore, click/reserve and collect, ship from store or warehouse. Customers get a personalised and trackable delivery promise and can return products anywhere. In addition, the OMS enables personalised shopping and sophisticated customer communications.
Global clients include LVMH, Ted Baker and Pets at Home.
SOURCE Business Reporter