Research on Retail Products
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Retail Value Chain Need for IT in Retail - Retail Solutions IT companies in retail Product details Market Statistics Challenges in Retail Opportunities
Agenda
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Retail Value Chain
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Need for IT in Retail - Retail Solutions
BUSINESS INTELLIGENCEBUSINESS INTELLIGENCE
Master Planning
Supply Chain Tracking
Content Management
Store/App/Page development
Markdown Optimization
Demand Planning
Replenishment Planning
Assortment Planning
RFID Analytics
Data Synchronization
Item Management
Partner Collaboration
Back – Office Integration
Inventory Optimization
ManufacturingManufacturing RetailRetail Electronic/Mobile/Social Commerce
Electronic/Mobile/Social Commerce
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ERP solutionso SAP retailso Oracle ERPo Microsoft
SME enterprise software solutions companies
o Citixsys Americas inco Microhouse Systems Inc.o Xsilva Systems Inc.o GoFrugal Technologieso Innovative Computer Solutionso Retail Pro International, LLC
IT companies in retail
o Microsoft Business Solutionso Visual Retail Plus Softwareo IBM o Oracleo Congnizanto Epicor
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Products details Product name Company Business size Industry Functionality
Citixsys Americas inc Medium business
Apparel & Fashion Books/Musice-Commerce, FloristFootwear/ShoesFurniture & Home DecorGeneral MerchandiseHealth/Personal Care
Inventory ManagementAccounting ManagementReportinge-CommerceCustomer Management
Microhouse Systems Inc.
Medium businessSmall business
Apparel & Fashion, Books/Musice-Commerce, FloristFootwear/ShoesFurniture & Home DecorGeneral MerchandiseHealth/Personal CareJewelry, Retail
Inventory ManagementCustomer ManagementEmployee Management
Xsilva Systems Inc. Medium businessSmall business
Jewelrye-CommerceApparel & Fashion RetailSporting goods
Compare Retail Customer Management SoftwareeCommerceCompare Retail eCommerce Software
GoFrugal Technologies
Medium businessSmall business
Apparel & Fashion Books/Musice-Commerce, FloristFootwear/ShoesGeneral MerchandiseHealth/Personal CareJewelry, Retail
Inventory ManagementAccounting ManagementEmployee ManagementReportinge-CommerceCustomer Management
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Products details cont….
Product name Company Business size Industry Functionality Innovative Computer Solutions
Medium businessSmall business
Apparel & Fashion Books/Musice-CommerceFloristFootwear/ShoesFurniture & Home DecorGeneral MerchandiseHealth/Personal Care
Inventory ManagementAccounting ManagementReportinge-CommerceCustomer Management
Retail Pro International, LLC
Large businessMedium business
Bar/NightclubLiquor Store Inventory Management
Customer ManagementEmployee Management
Microsoft Business Solutions
Large business Medium business
Apparel & Fashion Books/Musice-Commerce,FloristFootwear/ShoesFurniture & Home DecorGeneral MerchandiseHealth/Personal Care
Inventory ManagementAccounting ManagementEmployee ManagementReportinge-CommerceCustomer Management
Visual Retail Plus Software
Medium businessSmall business
Apparel & Fashion Books/Musice-CommerceFloristFootwear/ShoesFurniture & Home DecorGeneral Merchandise
Inventory ManagementAccounting ManagementEmployee ManagementReportinge-CommerceCustomer Management
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Products details cont…. Product name Company Business size Industry Functionality
IBM Large, Medium,Small business
Apparel & Fashion Books/Musice-CommerceFootwear/ShoesGeneral MerchandiseHealth/Personal Care
Inventory ManagementAccounting ManagementReportinge-CommerceCustomer Management
Oracle Large, Medium,Small business
Apparel & Fashion Books/Musice-CommerceFloristFootwear/ShoesFurniture & Home DecorGeneral MerchandiseHealth/Personal Care
Inventory ManagementCustomer ManagementEmployee ManagementAccounting Managemente-CommerceReporting
Epicor Software Corporation
Medium businessSmall business
Apparel & Fashion RetailSporting goods Books/MusicFurniture & Home DecorGeneral Merchandise
Inventory ManagementCustomer ManagementEmployee ManagementAccounting Management
Congnizant Medium businessSmall business
Apparel & Fashion Books/Musice-CommerceGeneral MerchandiseHealth/Personal CareJewelryRetail
eCommerceMerchandizingRetail StoresSupply Chain Management
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Market Statistics
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Market share of ERP software implementors
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• An ocean of data
First retail presents a complex multi-dimensional problem. Most business users will identify with analyzing data according to Time, Cost Centre and Product or Service. • What data should we store?
Continued rapid advances in processing power and sophisticated data management techniques developed by leading vendors mean that storing and analyzing these vast amounts of data is now a practical proposition.
But this in turn has led to a new problem - Instead of asking "what data can we store", we are now faced with the rather more subjective and challenging questions "what data should we store, at what levels and for how long?" The challenge of data relevance is fast becoming one of the most significant issues in retail business intelligence.
• And we still have not mentioned CRM and Loyalty
As we continue to analyze SKU level data we also significantly understand our retail performance through customer data acquired through loyalty card programs, self scanning, payment cards and third part data. Social media enables fast data acquisition and consolidation of payment cards such as credit cards with loyalty card build a rich picture of customer segments and their spending habits and likely behavior.
.
Challenges in Retail
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Payroll Issues for the Retail Industry• Reconciliation with Time and Attendance
Payroll accuracy comes from seamless and timely integration with the data from whatever system is used to track time and attendance. For in-store retail scenarios, the time-keeping system is often an integral part of the point of sale (POS) software in operation. By ensuring a tie-in to the POS, payroll can connect to both time and sales data. Such a link can enable cross-checking of both systems’ functioning, eliminate data errors, and reduce payroll fraud
• SaaS Deployment
The multi-store set up of the retail industry inevitably means a scattered and fragmented workforce. In turn, this situation demands an agile and far-reaching workforce management solution. Indeed, given that efficient scheduling is one of the key challenges that the retail industry faces, an increasing number of organizations are deploying flexible access, mobile applications to store managers—enabling them to manage their teams without losing undue amounts of “shop floor” time.
Challenges in Retail cont…
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• Consumers believe in smart shopping and smart store themeo Customers are making informed purchasing decisions, keeping retailers on their toes to provide
enhanced shopping facilities and precise information • Multi-channel retail emerging — bricks, clicks and catalogs are creating synergies
o With slowing demand, retailers are inevitably finding themselves having to compete much harder against their rivals to achieve previously accustomed levels of growth. With the market maturing and customer penetration level saturating, targeting the right customer becomes essential
• The Web will influence more than half of total retail sales by 2014 in the USo Online product research is not only driving online sales but also land-store sales. Going forward, online
and Web-influenced offline retail sales will grow at a 9 percent CAGR over the next five years, as consumers increasingly use the Internet to research products before purchasing
Challenges in Retail cont…
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• Financial analytics — becoming integral part of operational strategyo The e-commerce industry has matured quite rapidly hence, merely establishing Web
presence does not lead to success in the business • Cross-border online purchases are booming
o In today’s cutting-edge scenario, consumers are buying cross-border for various reasons, such as price, quality and unique product selection through international sites
• Social media takes retailers to social networks — customer-generated content, blogs and wikis are influencing purchases
• Retailers are looking for quick growth through globalization via non-US markets
Challenges in Retail cont…
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Social Retailing• With a social computing platform, you can facilitate customer interaction and social commerce. Enhance your
online presence with a social community and host reviews blogs and forums.
Cross–Channel Campaign Management and Optimization• Leverage your marketing dollars with consistent and targeted marketing campaigns. Deliver relevant messages to
your customers for more effective marketing and sales. Analyze your campaigns with tools that help you fine tune your results for maximum return.
Digital Marketing and Search Optimization• Analyze digital journeys of customers across channels while delivering highly relevant recommendations, display
ads, and personalized emails. Identify, attract, re-target and acquire new potential customers in digital channels.
There is a gap for M-commerce
Opportunities
Thank You
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Retail Software Share Geographicaly
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Statistical Analysis of Retail Vendor by Geography
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• From the graph we can say that the market share covered by each company is max in USA so there is less market share of companies in Africa, Canada, and Asia Pacific country. So the life style of these country is also changing here there may be new retailer can come up in these region and opportunity for retail software for these region will also increase.
• By looking at the graph we can say that we have opportunity for our software in the new market and we can take it forward to expand our business.
• The companies like Multiflex solution, iVend and Retailpro have less market share in Africa and Asia Pacific so we can act as a reseller for these companies product in these two market.
Conclusion from the Retail vendor graph
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The social media has created a revolution in all the industry by improving the channel for communication. Among the many industry that have benefited with the social media.
• Some of the main advantages of social media for retail are
I. Direct contact: The queries, complaints, and enquiries can be attended easily and directly.
II. Instant Messaging: The social media gives a constant contact which allows to pass information quickly even at any cases of crisis.
III.Promotional activities: The social media has become one of the best medium to promote the products and services since it can reach the public quickly.
IV.Customer loyalty: The main advantage of social media is earning customer loyalty.
V. Understanding market: The social media helps to understand the success and failure of the product or services in the markets along with knowledge of rivalry market which helps to enhance the business.
Influence of Social Media in Retail Industry
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• The influence of the internet, especially via social networking, on people’s purchasing behavior has grown over the years. Retailers, who depended on traditional stores to drive sales, have found that the reach of social media extends beyond generating visibility; it is also a channel to generate revenue. Social media being the next logical marketing arena has prompted retailers to shift a percentage of their marketing dollars to this space. According to Forrester Research:
Forecast US Online Retail Sales
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Possible advantages:
• Facilitates open communication, leading to enhanced information discovery and delivery.
• Allows employees to discuss ideas, post news, ask questions and share links.
• Provides an opportunity to widen business contacts.
• Targets a wide audience, making it a useful and effective recruitment tool.
• Improves business reputation and client base with minimal use of advertising.
• Expands market research, implements marketing campaigns, delivers communications and directs interested people to specific web sites. Possible disadvantages:
• Opens up the possibility for hackers to commit fraud and launch spam and virus attacks.
• Increases the risk of people falling prey to online scams that seem genuine, resulting in data or identity theft.
• May result in negative comments from employees about the company or potential legal consequences if employees use these sites to view objectionable, illicit or offensive material.
• Potentially results in lost productivity, especially if employees are busy updating profiles, etc
The advantages and disadvantages of social networking sites
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• While social media marketing is not unexplored, the area has seen exponential growth over the last few years and appears to be a promising marketing platform for retailers in the years to come. In fact, several social media experts are of the opinion that the retail industry is only scratching the surface of social media’s potential. Some have even gone so far as to rate F-commerce (F as in Facebook) to be the next big frontier in online marketing.
• Currently, Facebook dominates the digital marketing space, followed closely by Twitter. As we have seen, retailers today are focusing their efforts of converting ‘likes’ into actual purchases. Blogs, YouTube and MySpace are less preferred, despite obvious benefits these platforms offer. We believe blogs are useful marketing platforms. A good blog can get readers hooked and have them coming back for more, thus increasing the likelihood of repeat purchases. With Facebook expanding as a social and e-commerce platform, what role will blogs play in retail marketing? Meanwhile, online retail sales are expected to grow significantly in the next 3 years, and we’re sure social media will have a large role to play in driving those revenue figures upwards.
Conclusion
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