‘As a retailer, how much should I be spending on IT?’ Although retail decision-makers have been asking this question (with high frequency) for decades, the amplified role of technology in driving sales today has arguably made this question more important than ever before.
In today’s digitally driven business environment, it is critical that businesses are powered by enterprise software that is tailored to their specific needs. Indeed, every business – even if they sit within the same sector or industry – has a unique customer experience and differentiated offering, which must be reflected and supported by the enterprise software that drives the business.
Based on its recent analysis of enterprise software for the retail market, Frost & Sullivan recognises redPanda Software with the 2017 South Africa Customer Value Leadership Award for establishing a strong competitive position within the enterprise retail industry through its dedication to developing custom-made retail software solutions and managed services, which provides its retail and financial customers with a competitive edge for exceptional customer service and value.
Traditional brick-and-mortar retailers have no chance of surviving the onslaught from e-commerce unless they invest in their customer experience, says redPanda Software Group CEO Gareth Hawkey.
Achieving long-term brand loyalty has become brutally difficult for South African retailers. Mobile represents an unparalleled opportunity for savvy retailers to reach customers in more personalised, efficient and powerful ways – paving the way for a new era of data-driven brand loyalty.
Increasingly, retailers need to create a compelling reason for customers to enter their stores and should look at technology as a way to differentiate themselves from the competition.
Retail store openings are expected to continue outpacing store closures through 2021, according to the study, a data point that could help mitigate some of the retail apocalypse panic that became such a dominant theme during 2017.
The increased connectedness of consumers is contributing to a more dynamic environment – one where expectations on what the buying experience must entail are evolving.
