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Over the past decade, very few industries have experienced the pace of transformation as much as the retail sector. Driven by competition from innovative online merchants, traditional retailers are having to adapt quickly and transform themselves into efficient omnichannel players to successfully carve out an enduring competitive advantage.
The evolving shopping habits and customer preferences makes this strategic shift challenging. Customers across every demographic are becoming digitally savvy – getting their cues from social media while comparing products and pricing on the web. They are even comfortable placing orders for large, durable items online. Such trends and shifting customer preferences require retailers to market to their target customers digitally and engage them contextually via online advertising, social media, email, and SMS messages in real-time. This requires handling large streams of data in real-time and making decisions instantaneously.
Read about it in the Azure blog.
07-05-2019 12:54 PM - edited 07-05-2019 12:56 PM
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In the present day marketplace, a slowing revenue growth is evident in almost every sector, especially within the retail industry. With internal and external factors constantly influencing sales, retailers need to re-think their growth strategy as long-term and sustainable.