The new economy is disrupting and changing the rules of retail
For retail to get the most out of the new economy, it needs to run simple.
Running simple means reimagining business models based on real insights, not trends. It’s serving customers, not just your process. It’s when technology works for you and your customers, instead of the other way around.
Digitally armed customers expect a new type of experience: one that is frictionless, where technology is invisible and always present and commerce just happens in the moment, anytime, and anywhere.
New competitors are emerging every day – ready to answer those needs with fully digital strategies, simple consumer experiences, and innovative business models. Competition is coming from unexpected areas such as search engines, social networks, telecommunication, and banks. Every industry that touches the consumer is trying to get a piece of the same business.
While it is true that the fast rise of digital is creating uncertainties and new winners and losers, leaders realize that it also offers great opportunities.
To thrive in a climate of unprecedented innovation, businesses must reimagine themselves as living systems. Retailers can sense, respond, learn, adapt, and predict customer and business needs in the moment with SAP’s transformational digital solutions.
Retail. Digital Infinite Opportunity
Lori Mitchel-Keller — Global General Manager Consumer Industries, Retail, SAP — shares her observations about how the digital economy is changing retail. Reimagine the industry with her and start thinking of what’s possible today.
SAP has the platform and solutions for digital retail
Every retailer can develop a digital strategy across five pillars:
- Digital core with key retail and business processes such as merchandising, supply chain, and manufacturing
- Customer experience across all touch points
- Supplier collaboration throughout all spend categories
- Workforce engagement including store and seasonal staff
- Assets and the Internet of Things to derive live insights from inventory and other assets and to support new business models
Only SAP has the end-to-end digital solutions to interconnect all aspects of your industry’s value chain to drive business outcomes in real time. Radically simplify your business processes and connect them to the limitless possibilities of Big Data, the Internet of Things, and business networks to enable once-in-a-generation transformations.
It’s not necessary to wait for the future to arrive. SAP solutions for retailers help take advantage of these opportunities today.