Last week, our Head of IT Delivery, Chris Moran, was invited to attend the Business Cloud 'Technology in Retail' roundtable discussion where retailers and industry experts discussed how tech can be used to "add rocket fuel to retail".
Innovation was a core theme throughout the discussion, with participants discussing the need to continue evolving and creating in order to thrive and grow, all while ensuring that the customer remains at the heart of their thinking; their raison d'etre.
While ecommerce continues to grow, physical stores haven’t fared so well – while it’s true that business rates need reform and headline rents perhaps need a rethink, opportunities for innovation on the UK high street haven’t been fully grasped. Innovation has come to a standstill and stores all too often can’t compete with the convenience and lower prices offered by ecommerce retailers. Technology could offer the answer for bricks and mortar retail – how can tech be used to provide an experience, to create something new?
At Advanced Supply Chain, we know how important continued innovation is – our business is built on it.
We exist to support retailers in exceeding the expectations of their customers, always advancing and moving forward, ahead of the game. Our bespoke technology keeps our customers ahead of their competitors, in what is an incredibly fast-moving retail environment, providing a completely visible end-to-end supply chain.
Data also offers us many new opportunities in terms of understanding consumer behaviour, delivering what customers are looking for and managing the supply chain more effectively to maximise efficiency and profit.
Continued innovation allows us to use technology to offer retailers a service that is way beyond anything that our competitors can offer – we design our processes and solutions to match what the customer needs, rather than having a generic, off-the-shelf offering which partially meets their needs, but with some compromises.
The retail industry isn’t in a place where compromise is acceptable – it’s an incredibly challenging trading environment.
It’s time to invest in technology and in harnessing and using data effectively – retailers that don’t do this not only can’t compete, they’re not even on the same playing field.