Read Time, 3 min.

The rise of ecommerce has been a major factor in the shift towards digital in retail with the high street increasingly becoming a less regular destination for consumers. Customers have come to expect a superior experience across multiple channels (including in-store). Maximizing customer insights requires unifying your data sources across the end-to-end buyer journey to create a holistic view of the customer.

Based on this 360-view of customers data analytics enables retailers to transform and elevate the shopping experience to build stronger relationships across all touchpoints of the customer journey. Only if the supply chain is based on the real-time data across the ecosystem, it can truly become agile and sustainable. This allows a retailer to identify any issues and to optimize the supply chain performance. A recent example of supply chain agility is the ‘click and collect’ delivery method during the pandemic.

Besides smart data, competitiveness in retail requires the empowerment of the workforce. The workforce needs technology and tools that help to improve customer satisfaction, productivity, and collaboration.

Critical success factors for innovation and competitiveness

As a result of the ongoing digitization of retail much more data is generated. Meanwhile the risk posed by cyberthreats has grown. Inflexible, obsolete hardware and systems are being stretched, draining valuable resources away from other parts of the business.

To provide the agility retailers now need, systems and workflows need to be adapted and upgraded so they can harness innovative solutions and exploit technology to give them a competitive edge. Technology has a crucial role to play with data analytics, machine learning, AI-infused solutions, and large-scale data processing. Tech solutions enable retailers to unlock data and create new business opportunities, remodel the shopping experience, optimise store space, introduce new service lines, and increase margins significantly.

How TCS and Microsoft can help retailers

Tata Consultancy Services (TCS) is a Microsoft Gold Partner and Microsoft Azure Expert Managed Service Partner, recognized for its expertise in delivering the highest quality of service on Azure. It offers a comprehensive set of end-to-end services and intellectual property such as TCS Optumera™, its award-winning AI-powered retail optimization platform.

TCS Optumera™ is an award-winning AI-powered retail strategic intelligence platform that enables retailers to seamlessly orchestrate data across the retail value chain, and make optimized space, assortment, price, promotion, markdown, and supply chain decisions in an integrated manner. With integrated, hyper-localized, always-on optimization, the platform enables retailers to make key business processes autonomous and unlock exponential value. Retailers can use Optumera to help reimagine their merchandising strategy – for example, to add more counters in stores and rationalising product lines. This requires the ability to make strategic, integrated merchandising decisions in real time, based on customer and business data. This can include identifying stores in which to introduce new concepts, optimising shelf space to make way for new product lines and services and tailoring the product mix for local customer preferences.

“Petco is re-imagining our merchandising strategy leveraging TCS Optumera, to support a seamless omni-channel shopping experience for our customers,” said Mike Nuzzo, Chief Operating Officer, Petco. “Optumera is expertly designed to help enhance the speed of critical merchandising decisions, like floor space and assortment mix, to improve the overall customer experience.”

Source: Petco Selects TCS Optumera to Drive its Intelligent Merchandising Strategy (martechseries.com)

The advanced data science capabilities of Optumera consider thousands of key factors that influence sales, helping retailers make customer-centric merchandising decisions and grow their business. Take Optumera Omnichannel Assortment Optimization solution, which helps to rationalise SKUs with high demand and identify a local product mix based on demographics. This helps retailers as they remodel stores, optimise store space, and introduce new service lines. Leading retailers have seen 3-5% increase in sales and profitability, 30%- 50% reduction in time spent, execute 5x more strategies and 20-30% reduction in costs by leveraging AI in their core business processes.

TCS Optumera solution brief

Want to know more about how Optumera helps you to stay competitive in retail and accelerate your business growth?

Discover more related articles per industry:

Education

Finance & Insurance

  • a person standing in front of a window

    Business continuity in financial services

    During these uncertain times, Microsoft is committed to supporting financial service customers and their regulators around the globe.

  • a view of a city

    Harvesting data helps save water

    With more than 140 years of history, the financial service company Ibercaja is deeply invested in the north-east region of Spain. In order to support its rural clients and solve the local water scarcity problems, the company now helps farmers to digitally transform their crop management. Key to this transformation are “Internet of Things“ enabled […]

Government

Healthcare

Manufacturing

  • Two field workers fixing airplane turbines

    IoT connected field service has tapped into a new economy of satisfaction

    There’s something to be said for how modern convenience has altered customer expectations globally. As the world rapidly moves towards digitisation, traditional values―such as price and product loyalty―are cast aside in favour of curated service experiences. In the field service industry, this has become an area of concern for continuous customer satisfaction and business growth. […]

  • Infographic: field service redefined

    Infographic: field service redefined

    Adapting to customer demands in a connected world means empowering your people with tools that anticipate needs, unify communications, and deliver more. How long before it’s a matter of catching up?

Retail

  • Three floral dresses

    Unlocking AI’s potential to transform fashion

    “I believe that the future of fashion will be all about one-to-one services. Thanks to tools like AI and machine learning, brands will be increasingly able to understand their customers’ preferences and give them exactly what they want.” Orlando Ribas Fernandes is describing his vision for artificial intelligence in fashion. The CEO of retail innovation […]

  • Big data boosts business for beverage company

    Big data boosts business for beverage company

    Contemplate, if you will, the multiple choices available every time you want something to drink. Water? Juice? Soft drink? Do you want a single-serve can or a six-pack? Or maybe you just grab a liter bottle. The fact is, we as consumers expect a lot of options and the global non-alcoholic beverage industry delivers. Arca […]

Discover more related articles per dossier:

Customer Stories

  • Guy standing next to plane looking at Smartwatch to check reporting.

    Air France and KLM subsidiary EPCOR predicts future failures with data and AI

    EPCOR provides maintenance, repair and overhaul services, including state-of-the-art test facilities for aircraft pneumatic components and Auxiliary Power Units (APU). The APU is responsible for starting the main engines and provide power to essential aircraft functions. By harnessing cloud-based APU data using innovative analysis and machine learning, EPCOR is helping airlines meet their cost, safety […]

Digital Transformation

  • Person A, B, C, D together in the Conference Room, using Whiteboarding in a Teams meeting on Together mode on a Yealink Ideation Board.

    Microsoft partnerships drive innovation and growth in Europe in times of uncertainty

    These are uncertain times in Europe. Companies are navigating challenges stemming from inflation, global supply chain issues, a war on our doorstep, the resulting energy crisis, and ongoing IT skills shortage. Many businesses are struggling to balance how to optimize operational efficiencies with the pursuit of long-term growth. At Microsoft, we know that customers who […]

Security & Privacy

Tips

  • Group of two female and one male office workers brainstorming in informal office setting. Both women are using laptops while the man is writing. Large screen shown in background.

    2019 Modern Selling Trends in 5 webinars

    The relationship between buyers and sellers grows more complicated each day. Every potential partnership requires finding the right buyer, fully understanding their business, tracking progress through the buying cycle, and engaging them with the right content—when and how they want it. These shifting dynamics underscore the artistry of modern selling. When the time is right, […]