Spokesperson, Leading Apparel brand
Enterprises in the retail space are increasingly adopting IT solutions such as big data analytics, cloud and internet of things (IoT) to generate business intelligence and gain realtime insights into market trends and customer preferences. They are also building capabilities in omni-channel retailing, which has now become critical for these enterprises not only for ensuring brand visibility, but also for delivering a seamless customer experience. However, operationalising the omni-channel strategy requires a significant amount of investment in ICT. Industry experts talk about the technology trends in the retail space…
What role are IT, telecom and enterprise solutions playing in improving the company’s business performance?
As a part of our IT strategy, we have implemented enterprise solutions such as warehouse management system, SAP and Success Factors to integrate all our business verticals. Further, we have rolled out a cross-format loyalty programme, which will help us achieve our omni-channel strategy. We are also working on a strategy to utilise enterprise mobility solutions for connecting our field staff, stores and business managers to receive real-time reporting, booking orders and various other updates.
What are some of the challenges faced in managing IT and telecom infrastructure?
The company faces challenges mainly with regard to operationalising the omni-channel strategy. Moreover, internal and external threats to data security need to be taken care of. Finally, technology heads need to work closely with the top management to understand the overall business plans and chalk out a clear IT strategy.
What is the scope of big data analytics, cloud and IoT for the retail industry?
Enterprises in the retail industry need to be careful about the adoption of new technologies such as cloud, IoT and big data analytics. There are generally two options that enterprises have. They can either choose to be experimental and be ahead of the curve, or be the second-movers and take their decisions based on the learnings of other players. Further, enterprises need to be clear about the relevance of big data analytics and cloud computing. To this end, a certain amount of clarity is needed to define the relevant data that has to be hosted on the cloud and the systems needed to be integrated to use this data, as this would mean higher costs with regard to connectivity, data security and systems integration. Meanwhile, IoT is one of the most interesting areas to look at from the manufacturing, logistics and sales perspective.
What are the key emerging IT and telecom trends witnessed by the retail industry?
The advances in mobile computing, social media and cloud-based services have led to the emergence of disruptive technologies. The payments landscape is undergoing a major transformation with customers adopting digital payment and electronic wallet technologies in a big way. At present, a retailer can easily track customers’ profiles and understand their buying patterns through mobile devices and social media accounts. Further, the influx of big data analytics and software intelligence is helping machines make informed decisions. Retailers are exploring ways to leverage 3D printing for apparel and digitalisation of the supply chain.
