The New Roadmap for Retail - Cognizant OVERVIEW The New Roadmap for Retail ... engagements, maintain...
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DECEMBER 2016 SOLUTION OVERVIEW The New Roadmap for Retail Cognizant’s RetailMate is a scalable solution platform that integrates data from multiple sources in real time, to optimize retail operations and improve customer experience. THE CHALLENGE OF “RIGHT NOW” You know what you’re up against. Today’s customers can shop and buy anywhere, at any time. They expect to find what they want immediately; if they don’t, they go elsewhere. And they want a satisfying retail experience. It’s time to adapt to the digital consumer. And delight is the differentiator. To survive in the face of e-commerce, store-front retailers must transform how they engage consumers and meet their needs in the store. How to do that? You certainly don’t need another point solution. You need ways to gather and analyze information in real- time from many data sources: product inventory and location, what your sales associates are doing, where consumers are, their historical purchase patterns and wish lists, even what’s trending on social media. That way, you can act on it fast—using predictive analytics to personalize recommendations and offers to meet the needs of your shoppers in real-time. The retail store of the future will know its customers, improve employee efficiency, better manage inventory, and deliver the desired product when and where buyers want it. The store will again be a destination for shoppers—because it will deliver delight.
Transcript of The New Roadmap for Retail - Cognizant OVERVIEW The New Roadmap for Retail ... engagements, maintain...
DECEMBER 2016
SOLUTION OVERVIEW
The New Roadmap for RetailCognizant’s RetailMate is a scalable solution platform that integrates data from multiple sources in real time, to optimize retail operations and improve customer experience.
THE CHALLENGE OF “RIGHT NOW”
You know what you’re up against. Today’s customers can shop and buy anywhere, at any time. They expect to find what they want immediately; if they don’t, they go elsewhere. And they want a satisfying retail experience.
It’s time to adapt to the digital consumer. And delight is the differentiator. To survive in the face of e-commerce, store-front retailers must transform how they engage consumers and meet their needs in the store.
How to do that? You certainly don’t need another point solution. You need ways to gather and analyze information in real-time from many data sources: product
inventory and location, what your sales associates are doing, where consumers are, their historical purchase patterns and wish lists, even what’s trending on social media.
That way, you can act on it fast—using predictive analytics to personalize recommendations and offers to meet the needs of your shoppers in real-time.
The retail store of the future will know its customers, improve employee efficiency, better manage inventory, and deliver the desired product when and where buyers want it. The store will again be a destination for shoppers—because it will deliver delight.
SOLUTION OVERVIEW2
ACT NOW TO SUCCEED. AND FAST.
Cognizant’s RetailMateTM is a scalable end-to-end Internet of Things (IoT) retail solution that helps you identify and solve pressing operational and supply chain issues quickly, optimizing store operations to improve customer experience.
An integrated retail solution platform, RetailMate integrates information from many inputs, from inventory management to employee interaction to customer behavior in the store and online, to help you create a next-generation retail operation.
Simple to implement and easy to use, RetailMate allows you to collect data from shoppers in physical stores in real-time, via Bluetooth and WIFI connectivity, using smart cameras, sensors, and beacons, and from shoppers’ smartphones. By monitoring in-store consumer interactions, RetailMate harnesses shopper data to provide insights that help drive engagement. Best of all, you can implement RetailMate fast.
Combining IoT connectivity with advanced data-processing and analytics in the Cloud, RetailMate’s operations visualization tool provides retailers a comprehensive and interactive view of customer buying and shopping patterns. It captures data from online customers’ browsing history and transactions, to enable teams to make better decisions, design more compelling engagements, and maintain the right balance of in-store personalization. And it incorporates separate digital apps for store managers, sales associates, even customers.
Scalable and integrated with enterpise platforms such as SAP, NetSuite, Microsoft Dynamics, and Azure, RetailMate aligns to your overarching enterprise architecture. Advanced analytics monitor and make recommendations to enhance customer satisfaction. And, by combining with Store Optimizer retail software from JDA, along with JDA’s category management and workforce management solutions, RetailMate is a solution platform that helps you build your Digital Store of The Future, today.
SOLUTION OVERVIEW 3
DEEPER CONNECTIONS WITH CUSTOMERSWith RetailMate, you can capture different types of data for analysis in real time, to gain insight into consumer behavior and identify buying patterns, predict market trends, and to design and implement ways to engage shoppers.
The result is seamless service and more satisfying customer experiences. Real-time insights. Intelligent tools. An integrated solution platform scalable to your needs, and a dashboard for rapid decision-making.
RetailMate affords retailers a host of benefits, including the ability to:
• Enhance in-store experience, strengthening customer engagement and extending “dwell-time”
• Digitize your physical retail stores, helping you optimize operations and grow sales
• Solve inventory issues that allow you deliver what consumers want, including in “buy online, pickup in store” (BOPIS) transactions
• Improve replenishment cycles and optimize product placement to move items off shelves more quickly
• Prevent losses to theft by tracking the location of retail merchandise from arrival in-store to back-of-house inventory, from sales racks through register-and-wrap
• Increase security by protecting your IoT devices, data, and systems from intrusion
• Simplify how you manage provisioning, maintaining, and operating your IoT devices
FROM SAD TO SATISFIED: A VISIT TO THE STOREYou’ve been there. As a store manager or associate, you’ve watched it happen. The chosen item isn’t available. The customer doesn’t get what they want. A sale is lost; trust is broken. And no one’s a winner. RetailMate helps change that. When a customer walks in, you know who they are. Their size. Their preferences. Their buying history. You can bring out the right type of clothing in the right size, right away.
How? Simple: You know your inventory—up to the minute. You know exactly where it is, on the rack or in the back. In the time it takes a customer to decide to ask for help, you’re ready to give it: styles, options, add-ons.
Higher sales. Increased customer satisfaction. Real-time updates to inventory, with metrics to learn what’s working and what’s not.
That’s RetailMate. A roadmap to success—and everyone’s a winner.
RetailMate’s interactive visualization tool provides retailers with a comprehensive view of customer buying and shopping patterns. As shopper data is received and processed real-time using advanced analytics, your customized interactive visualization displays historical data to enable teams to make better decisions, design more compelling engagements, maintain the right balance of personalization in your retail stores, and increase revenue.
BRIDGE TO YOUR FUTURE? MAKE THE LEAP TO DIGITAL
RetailMate is the benchmark for the digital transformation of the retail experience. Combining in-store instrumentation and data capture, sales history from online transactions, and Cloud-based data processing, RetailMate allows retailers to design and deliver personalized, location-based contextual experiences in real time—deepening consumers’ relationships to their company and to the brands they sell.
RetailMate helps you see into the minds of customers, based on where they go, what they look at, what they buy. That not only helps you enhance customer engagement by providing a more personalized experience; it also helps forecast purchasing behavior, anticipate and manage demand, increase top-line revenues, and optimize store operations.
DESTINATION? DELIGHT.
RetailMate is how market leaders will fend off competitors—in the Digital Store of the Future. And Cognizant is the leader in building digital solutions for the retail sector—from rewiring the supply chain to advanced data analytics to improving customer experience.
Want more information? Visit our microsite at www.cognizant-retailmate.com.
ABOUT COGNIZANT
Cognizant (NASDAQ: CTSH) is a leading provider of information technology, consulting, and business process services,
dedicated to helping the world’s leading companies build stronger businesses. Headquartered in Teaneck, New Jersey
(U.S.), Cognizant combines a passion for client satisfaction, technology innovation, deep industry and business process
expertise, and a global, collaborative workforce that embodies the future of work. With over 100 development and
delivery centers worldwide and approximately 255,800 employees as of September 30, 2016, Cognizant is a member of
the NASDAQ-100, the S&P 500, the Forbes Global 2000, and the Fortune 500, and is ranked among the top performing
and fastest growing companies in the world. Visit us at www.cognizant.com or follow us on Twitter: Cognizant.
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