Retail chains across the world are confronting the twin challenges of aggressive competition and declining sales. As a result, most marketing initiatives are designed around the existing customers’ anticipated needs, motivations and personalities. However, an effective program should baseline observed behavior such as customer’s shopping trail, purchase basket, customer profile, channel mix, and preferences to recommend the right products to the right customer at the right time.
In addition, retailers can harness technologies such as mobile, cloud, Internet of Things (IoT), augmented reality and more along with process reengineering innovations such as lean logistics to benefit from paradigm-shifting business transformations that can put those leagues ahead of competition.
Hexaware has many years of proven experience in the retail segment that it is has employed to build inventive solutions for every part of retail lifecycle-from procurement to sales and post sales-to help you gain a competitive edge.
Hexaware’s solutions and services for the retail domain encompass consulting, technology and sourcing and help in solving complex business challenges to generate significant measurable business value.
Retail Analytics Solution
The massive volumes of data generated by the retail ecosystem-from RFID tags, mobile devices, GPS enabled tablets, web transaction and embedded sensors are giving retailers very specific data about consumers. This information can be used to personalize consumer offers and pricing to drive both consumer intimacy and revenue growth.
The Retail Analytics Solution provides retailers with an ability to model Net Promoter Score (NPS), Lifetime Value and RFM analysis across customer segments, merchandize and store clusters. The solution enables powerful what-if analysis through simulations and offers recommendations in terms of specific customer/product segments to focus on, timing of promotions to extract higher returns from budgeted marketing spend, etc.
Hexaware’s Retail Analytics Solution uses established industry-standard regression techniques and advanced predictive models to deliver comprehensive predictions based on multi-dimensional analysis.
In-store Customer Experience
Understanding the future of retail world, we are investing in Retail Digitalization to strengthen our expertise and take it to the next level.
The digital transformation journey executed for customers imbibes Enterprise Mobility, Internet of Things, Augmented Reality and Big data, all of which are bonded to give integrated benefits across functions of the retail enterprise.
Retailers get visibility of their entire supply chain and logistics operations which are integrated till the store level. Whenever the stocks in the stores reaches the threshold limit, the sensor’s in the stores automatically signal the inventory management systems which in turn signal the supply chain application to source the products, ship from distribution centre, and ensure that the stocks in the stores are replenished. The entire operation is enabled through digitization.
The world of augmented-reality could offer consumers rich, experiential content about features and benefits of products. It could help with information to compare and contrast various products and help shoppers make informed and instantaneous shopping decisions by increasing the consumer experience.
Data Management Services
Master Data is the critical information about customers, products, suppliers, and the like. It is the foundational information used throughout an organization to establish workflow and make key business decisions. When Master Data is correct, consistent and up-to-date, management can achieve a holistic view of its internal operations, partner interactions, and customer behaviours. This 360° view provides a “Single Source of Truth” creating increased efficiencies that result in higher profit margins.
Hexaware’s Data Lifecycle Management services span enterprise data structure, data governance & process design, solution architecture, data cleansing, data modelling, design & implementation, ongoing data quality, and operations & support.
Hexaware’s Enterprise Master Data Management (MDM) solution enables enterprises to centralize all processes relating to Master Data. The solution can manage all CRUD (Create, Read, Update and Delete) workflows from a single data repository.
Retail Workforce Management
Retail workforce management enables retailers to synchronize enterprise layer, supply chain and in-store operation with real-time customer demand.
Balancing the high cost of labour management, shift plans, staffing needs, labour budgeting, workforce tracking and labour laws often puts customer loyalty, employee satisfaction, governance and profitability at risk.
Hexaware offers a completely automated workforce management solution specifically for retail industries through our proven solutions which increases the workforce productivity, minimizing labour cost, effective shift roaster planning, tracking hot zones and staff assignment and optimization of store’s performance through workforce business intelligence.
Our retail digitalization offerings also enables store managers to monitor key metrics in real-time, manage shift swap requests and perform other administrative tasks on mobile devices instead of traditional back office activities. Detect staff issues in real time and taking pro-active measures.
Business Process Services
Retailers constantly strive to improve profitability, reduce costs and increase revenue while improving customer experience and loyalty.
Hexaware’s integrated Business Process Services seamlessly merge front and back office business functions and help in enhancing customer interaction models in order to create an emotional bond and improve customer loyalty. We leverage domain expertise for process improvement and augmentation of operational efficiencies.
Our business process services can help retailers to understand the voice of the customer and deliver tangible benefits through a cost competitive structure, unit-linked pricing model and comprehensive shared-service models:
- Creation of a personalized, unique shopping experience for each channel
- Improvement in customer retention and loyalty
- Reduction in overheads on F&A, IT and HR
- Reduction in inventory costs leveraged by services around spends analytics and forecasting