Information Technology solutions have revolutionized the way the retail industry works, making customer the king in more ways than one. This digital revolution has forced brick and mortar retailers to revise their business strategy and keep pace with the younger ventures that have leveraged the IT advantage from day one.
Some of the common trends in the industry include:
Big Data Engineering
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To be able to benefit from these trends, retailers need protection of their IT investments while synchronising them with modern web technologies to benefit from cloud, mobility and IOT. They need to be able to benchmark the performance of their outlets online and offline, gear up to meet competition as well as create meaningful market strategies to target customers better.
To stay relevant and ensure continued success, retailers must scale up their analytics to achieve:
Indium uses Big Data technologies to help retailers leverage their data and develop strategies based on:
It enables customer-facing personnel and marketers to have a single view of customers across channels and businesses. It reveals insights into customer behavior and enriches overall customer experience and loyalty. Solutions under customer analytics include:
This helps to establish price elasticity, impact of promotions and markdowns. It also enables finance personnel and heads of businesses to determine profitable products, customers and services and allocate costs accordingly to improve profitability.
The insights can also help retail organisations:
Optimize trade spends across categories in the portfolio
Identify key brands whose promotions are helping in category growth
Define pricing strategies for own / store brand
They can continuously improve demand forecasting for better management of supply chain, effectively manage distribution while minimizing stock-outs and benefit from SKU velocity analysis.
Indium also offers software testing services for the retail industry and has two decades of experience, domain expertise, technically qualified team as well as the right devices to provide comprehensive, end-to-end testing services. Indium’s expertise covers the following:
Indium has proved time and again that it is equipped to address all the challenges faced by retailers. Its testing approach includes
Functionality and Usability testing from technical requirement, business transaction context and across OSs/Devices/Browsers perspectives
IP-led Test Automation suite, iSafe, for e-commerce solution, promotion system, Point of Sale (PoS) and Content Management System (CMS)
Integration Testing as ecommerce solution collaborate with Supply Chain Management, merchandisers, promotion system and sales channels
Guaranteed Performance Improvement to test and tune the high demand e-commerce solution and applications hosted in cloud
Penetration Test to determine vulnerabilities of e-commerce solution
Verification of business processes and data validation in non-production environments during promotions
PCI DSS Compliance testing ensures secure online payment. Indium is one of the few to be able to test for Section 508 (ADA) compliance, which ensures inclusivity for the specially-enabled and the geriatric customers, as well as benefits the retailers by expanding their potential customer base.
More test cycles and enhanced test coverage
Reduced test cycle time, higher ‘RoI’ from Test Automation
Robust testing process and controlled product quality
Reduction in user reported defects “lowering defect escapes”
Early defect detection & prevention