Tag Archives: Retail Solutions

Investing in retail solutions will up your business game

October 27, 2020 Sayli Achrekar Leave a comment

While digital e-commerce has taken a toll over brick and mortar retail stores, the retail store has to pace up with innovations to likely stay in the market. Adopting business intelligence is a powerful technique which can be proven beneficial towards achieving goals.

In the retail and fashion industry, understanding consumer behaviour, their attitude, and needs while making their purchase are essential for the success of the retail business. Understanding what consumers need and their needs are essential these days. After all, they are the one who makes a business sustainable.

Shift from Offline to Online is inevitable

Today consumers are smart and to reach towards such adept potential buyers a retailer needs deep understanding about “how customers are making choices while their purchases?

Millennials are more conscious about what they buy and how the product has been designed and what all efforts retailers have taken to make it more sustainable. Retailers have to be more concerned about how they can optimize the use of resources which can result in their business to survive in this cut-throat competition.

Fashion has become an everyday changing trend and brands like Myntra, Flipkart, Ajio are ruling the industry, the brand’s omnipresence has increased its visibility and influenced customer’s purchase decisions. Like Flipkart says “If it’s trendy, it’s on Flipkart”, or “Everyday new fashion at Flipkart”, such taglines are creating a buzz in the industry.

Even the smaller brands like Bewakoof, The Souled Store, Tijori, etc. are increasing their brand influence by creating a niche in itself by selling specialized merchandise and giving a tough competition to the big players. In spite of being a niche, they’re at the top of the market by adopting online marketing strategies to expand the reach. With such fast-growing trends of the industry, retailers should be more thorough with the new technologies and explore to enhance up-gradation to their business models.

Why Investing In Retail solutions Is Essential For Your Business

Speed, availability and efficiency is the necessity of today retail and fashion businesses. To achieve these perks, retailers should invest in a retail solution that will help them to pace up their business in this fast-growing market. Newest technologies in retail have made it an essential tool that can provide you with a competitive edge to thrive and grow in the market.

Here are a few benefits of retail solutions which can improve your retail business.

Innovation to your business

Innovation refers to creating more efficient and unique ideas, products and overall process of how business works. For retailers, it could mean about implementing new ideas, improving services and upgrading with an effective product which can enhance the user experience.

By adapting retail solutions in business means upgrading business models and making a change in existing patterns to deliver better shopping experience to customers by ensuring their safety and security in these times.

Customized clothing and virtual trial and tryouts for user content

Retailers often adapt to customize content or virtual tryouts to meet the best expectations of their customers. Retailers are now filtering their in-store activities where they can optimize the use of solutions without wasting time. With the newest technologies like AI, AR, XR, VR, customer expectation has reached a peak where innovations grab their attention instantly. In the Ecom era, customers want a hassle-free shopping experience without wasting time. These are a few instore solutions which can help you to sustain in the business.

Everyone wants their outfit to be designed according to their perspective. Customizing outfits by choosing respective options gives them a personal touch while shopping. Adding in-store customization will make you stand out amongst the competitors
Waiting for their turn while shopping was always a concern and time-consuming task. Therefore the invention of virtual trial rooms has been hit in the fashion and retail industry. The shoppers can simply find out their respective size and can visualize the apparel fitting on their body.

Increasing brand presence and awareness

The retail solution is an astonishing tool to enhance in-store brand awareness to wider audiences. Retailers and brands have to stay one step ahead to enhance the shopping experience of the shopper. A brand like Lenskart has launched 3d Tryon where shoppers can virtually try different eyeglasses online and various help brands provide unique experiences to users. These unique innovations in store attract shoppers and make them recall brands or visit stores to try these techs. The use of such solutions for retailers in marketing strategies gives a lot of leverage to brands to find their ways of easy interaction with potential customers.

Impactful customer experience

Whenever shoppers make a purchasing decision, retailers should ensure that they provide a seamless shopping experience to their customers. One of the research from Epsilon shows that around 80% of the shoppers only sop with brands that offer a unique user experience. Individualized pitching, high-touch customers are no longer trending tricks which retailers can use for the growth. The revolution in retail has created a new breed where shopping choices are not only restricted to the best prices of products.

Retailers have to come up with the latest and trending techs who can satisfy all needs of customers and get attention in the competitors market.

Overcome with Tech solutions

Retail solutions in business can create new opportunities for upcoming sales in the business and increase ongoing performance and build customer loyalty. Retailers can get complete insights into customers trends and behaviours to refine their supply chain accordingly. These solutions will escalate the in-store shopping experience and will give a new outlook on your traditional brick mortar.

Navigating into the new world of retail solutions can be challenging, and it can be a task now from where to start. Therefore, an experienced technology partner will enhance your business in evaluating your business with unique strategies.
Learn more about how Textronics helps your business to integrate retail solutions for maximum results.

Learn more about how Textronics helps your business to integrate retail solutions for maximum results.

A Retail Innovation, Textile & Fashion Industry

How has 2020 changed shopping habits?

October 12, 2020 Sayli Achrekar Leave a comment

With all restrictions around the world, consumers have started believing that these situations are going to stay for long. With these circumstances, they have been worried about when will they restart their usual lifestyle again?

With lockdown easing and new situations setting in still, there is a concern when it comes to stepping out. Most of them are now using the Ecom platform for purchases & are used to getting things at their doorstep.

Consumers priorities are changing

Consumers have now prioritized the most basic necessities which they need on a daily basis. There is an increase in the demand for hygienic, cleaning, and staples products, while the drop has been seen in non-category products. The factors that influence customers while making brand decisions are also changing as “buy local” trends accelerate in the market.

Now, These situations are undoubtedly reshaping the consumer goods industry in real-time. One of the research of Accenture indicates new habits formed in this lockdown will continue even after the crisis ends, & is going to permanently change what we value, how and where we shop, and how we live and work.

More Consumers are shopping online.

People are choosing to stay indoors despite the ease of lockdown. Home has now become the hub of all the activities and people prefer socializing by just sitting at home. Working from home and staying indoors have changed the priorities of what they buy. As more and more consumers are now forced to shop online to stay safe, and eventually, they will get habitual about buying products online.

In a global survey conducted by Brandwatch, 20% of their respondents said that they have bought clothes, groceries, or toiletries and beauty products online when they usually wouldn’t have got them that way. The same survey said that the majority of these customers are investing in small purchases like busing buying clothes, accessories etc.

Let us know how you are shopping these days?

We’d love to hear from you via email or on social media!

How this change will impact the Retailers

The retail industry has suffered a lot of challenges in the past few months. Long term trends have grown as consumers have changed shopping habits, what they buy and how they shop.

The initial days of the lockdown showed a drastic effect on the retail industry. Retailers were concerning how they will satisfy the needs and the changing behaviour of consumers by keeping their stores shut. There was a decline in sales as people concerned about stepping out.

Retailers needed to lead with the best strategy considering the human-centric approach. With easing in the lockdown retailers started responding to this situation in a positive way by upgrading their business with new ways of working.

There is still a worry among the retailers that how will they enhance the in-store experience of the shoppers by taking the utmost care of their safety and hygiene. In this case, there are various innovations in AR such as beauty magic mirrors, try products in 3D, virtual trial rooms, etc. which offer a contactless shopping experience to the customer.

( To know more about Contactless shopping read: Contactless shopping: Sustainable choice for retail sustainability)

The research of Accenture says that 67% of consumers agree that companies will “build back better” by investing in sustainable and fair solutions.

Upgrading business with Changed shopping habits

How to upgrade business according to shoppers circumstances :

Reports of Delloit says the consumers are changing. They are more inconstant and less loyal to their purchasing decisions. They search for something new and exciting every time they make a new purchase. The business has to be on their toes to fulfil what their customer needs and how they can enhance customer engagement.

The entrepreneurs can —– to upgrade their business according to too the shopper’s circumstances

Brands and retailers should focus on the long term business strategy by strengthening the internal categories by building the omnichannel approach towards their business and upskill employees for a technological revolution.
They should invest in the digitalization of the business which will increase the efficiency of the digital platform.
Companies should plan for the future of their brick and mortar stores by using their previous data and the changed shopping habits & preference of the shoppers.
They should improve the supply chain network and ensure that they are upgraded about the product trends.

Changed shopping habits and customer preferences have taken a new dimension in these unusual challenges. Retailers who are careful and innovative during this new normal will build a stronger relationship with customers that will endure beyond the crisis passing.

If you are one of those brands who want to invest in the innovation in the fashion industry, Textronic is leading the solutions that will change the whole lookout of your business.

To avail of our services, feel free to contact us: info@textronic.net

A Retail Innovation, Future Technology

Retail Technology for the Near Future

February 26, 2018 Sayli Achrekar Leave a comment

Converting the toughest job into an easy one is not a big deal nowadays. “All thanks to technology!” We have accomplished many of them.
But in the technology savvy world we have considerably seen trends rising and biting the dust in no time.
So here are some tech trends which are believed to be the future of Retail Industry. Stay Tuned!

Product Delivery:

Deliveries at your door step makes shopping so comforting for all of us. We no more have to rush from store to store to shop for clothes, groceries, accessories, home decors, etc.

Newest trends in Delivery Services:

Drones:

Google self-driving cars

While Google’s driverless cars aren’t ready yet but are making progress every day. Self-driving cars navigate based on sensors that can feel as far as 2 football fields away in every direction.

In-Store Enhancements

Retailing was always about a healthy relationship between the retailer and the shopper. In this era, to recreate the healthy bond with the help of just a brick and mortar store won’t work, a shopper needs a seamless experience through all channels.

For the Shoppers

Store Navigations

Magic Mirrors

Smart Assistants

Personalizing the user experience many companies are trying to ensure a smooth and easy shopping experience with a cloud-based technology (we also call it artificial intelligence) to idealize the customer’s product choices and guide them accordingly.

Custom Apparel Designers

Product configrator - Tailor-i — Custom Apparel Designers for Made2Measure & Bespoke Clothing

Source: https://www.insider-trends.com/top-50-innovations-in-retail/

A Retail Innovation

Omni-Channel Solution, A new face to the future of Retail Shopping..

April 13, 2016 Leave a comment

A Retail Innovation — In Store Experience

When you’ve bought something, take a step back and think where did you first discover the product? Where did you get the first hint or got in touch with the brand(product)? When did you first decide you want to buy the product? How and where did you really end up buying it eventually??

When you start finding answers to all of the above questions, you will end up giving a definition to the term, omnichannel. It may sound new, but is actually not. Its meaning and spell lies very close to cross-channel and multi-channel, and which certainly is. Defining each of them can help differentiate between the three and send in a clear idea about the similar looking names.

Cross-channel:

The cross-channel approach is meant for the customers who utilize all the necessary and available social platforms to gain in-depth information of the brand(product) they are willing to purchase. On having utilized all the sources, they end up buying the product only from a physical store.

Multi-channel:

The multi-channel approach pays more attribute to the consumer’s choice of purchasing the product, irrespective of the medium of sources he/she chooses to utilize with the intention to know more about the product. In multi-channel marketing, the company makes use of various channels like e-commerce, social media or a physical store enabling excellent management of each channel providing the required consistency across all. The consumer ends up purchasing the product through his desired platform of purchase.

Omni-channel:

The omni-channel is an holistic approach in comparison with the previous two channels in terms of consumers’ experience irrespective of the channel utilized by the consumer to finalize and buy the desired product. The company gives immense priority to following a stringent approach in maintaining a consistency across all available channels to portray their brand to the consumers more effectively. This acts like a core identity of the brand which leaves an impression on the consumers’ mind which acts like a non-physical asset to the company.
The brands who can best interpret omnichannel data and understand all customers are the winners. There will be a new dimension of customer decision. As a final decision is being made to purchase, price, relationship, service and continuity will all be considered.