Retailers around the globe are looking for ways to capture a greater share of the shopper’s spending while simultaneously are finding themselves in an unprecedented economic climate with uncertainty. Yet the keys to success are timeless and transcend any economic cycle:
- Know your customers – understand their needs
- Anticipate your customers by executing the appropriate inventory, assortment, pricing, and promotions strategy
- Control your costs and risks by managing your supply chain from source to store
- Empower your associates with tools and training to inspire your customers with a memorable brand-building shopping experience
- Execute consistently at every customer touch point – store, Internet, catalog, or call center
While this calls for a back-to-basics approach to business, it does require an even greater reliance on the right technology solutions to enable this efficiently and effectively across any retail format, national boundaries, or store count. SAP for Retail provides retailers with the foundation and advanced applications they need to plan and execute their specific strategy in a highly competitive world. Not only is SAP successfully supporting the high transactional nature of retail, but also powers Shopper Insight which drives decisions in Shopper Experience, Merchandise Lifecycle, and Supply Chain (see Retail wiki). These are the very building blocks for any winning retail strategy. Taking advantage of the current economy, successful retailers will invest more in their business, people and systems to add to their lead and further separate from the pack. SAP for Retail offers the immediate tools and components to effect such a customer-centric strategy on a proven Business Process Platform that not only protects your IT investment, but allows for operational agility and lower TCO.
So, have a listen to Verlin Youd, SVP Global Trading Industries, as he shares SAP’s Retail strategy and what successful retailers are doing to delight their customers while delivering operational efficiencies. You can see him at the upcoming SAP Insider conference in Orlando, Fl (March 2-5).