Retail is constantly changing – As a result of digitalization and technologization, informed and exacting consumers as well as new business models, retail faces new challenges. maconda has a core focus on working with the dynamic and intricate retail industry where there is a need for promising and interconnected retail concepts that are increasingly being defined by technological development.
In February, maconda attended Europe’s leading trade fair for retail technology, EuroCIS. This year’s EuroCIS focused on solutions to help retail implement omnichannel strategies, i.e. to enable dialogue with customers on all channels. These include mobile solutions, for instance for interacting with customers’ smartphones or enabling mobile payment, but also issues such as business analytics, cloud technologies, RFID and self-checkout. These technologies are becoming more and more important for retail organizations.
In the future, using these technologies is meant to make the point of sale more attractive for customers, while also enhancing the effectiveness of the retailers’ workflows – regardless of the specific industry. There is a strong need for functioning omnichannel concepts and location-based services. Retailers, service providers with brick-and-mortar stores as well as various B2B service providers can send information and offers to customers’ smartphones right at the point-of-sale using Bluetooth technologies and beacons. This location-based interaction as well as local services and advertising are targeted ways of activating customers and increasing their loyalty.
Omnichannel transformation is one of the key future issues for retailers, alongside location-based marketing. As a further development of multi- and crosschannel, omnichannel refers to seamless shopping experiences for customers, spanning all channels and enabling smooth transitions and a unified brand experience. Click & Collect, Reserve & Collect, return-to-store or instore ordering: There are several omnichannel functionalities that provide added value for customers across channels. Many retailers are currently planning or implementing omnichannel integration into existing IT structures, primarily merchandise management systems, ERP, logistics, payment and CRM.
Other key issues for retail are analytics and Big Data whose potential still remains largely untapped. The possibilities arising through increasing digitalization, the Internet of Things and Big Data analytics are limitless. Intelligent analytic tools help merge data from various sources, compact them and decode them. They offer a precise, current overview and the possibility of generating accurate forecasts about future scenarios. These tools provide an optimal basis for making decisions and offer new insights into customer behaviour, market dynamics and corporate processes. Predictive analytics solutions that are based on self-learning algorithms can increase sales, minimize storage costs and reduce the costs for logistics and production.
For more than 20 years, we have advised companies and investors about the acquisition, development and restructuring of companies. More than 700 consulting and implementation projects coupled with more than 300 transaction projects mean that we have extensive experience in providing pragmatic support for even the most complex projects. Our clients include medium-sized enterprises, business units from major corporations and internationally operating private equity investors and family offices.
Extensive project experience: Various retail concepts in many industries | Omnichannel | Location-based services | Major retail chains | Innovative store concepts | Smart building | Sensor technology | Counters and counting systems | Beacons | Predictive analytics
You can find more information on our industry expertise, our range of services and our references on our website www.maconda.de.