In the beginning…
Merchants have searched for ways to influence a shopper’s “moment of truth” since trade began. That’s the moment when the shopper is making the buying decision- and in today’s world, that extends to whenever and wherever this takes place.
Today they have the solution to that eternal quest. Earlier today, SAP announced the availability of SAP Precision Retailing solution. This data for this enterprise solution resides in virtualized SAP HANA database, is built on the SAP Netweaver Cloud Platform. In many ways this points to the future of retail and consumer-facing industries – it marries Big Data, Mobility, and retail’s granularity like nothing before. The missing link has been the ability to operate at the speed of real-time during a consumer’s purchase decision – enter SAP HANA to the rescue.
New Thinking, New Possibilities…
By powering SAP Precision Retailing solution, SAP HANA allows new business possibilities and engagement models for retailers and consumer product companies. Along with real-time, the solution is context aware, so it’s not only real-time, but it’s also right-time for the shopper: It has precision in its DNA. Personalized offers are based on knowing a consumer’s preferences and become routine. They also consider inventory position, purchase history thereby adding relevance to the convenience value proposition. And thanks to the SAP Netweaver Cloud Platform, it is easy to consume with 24/7 availability to any size retailer. These personalized offers are delivered on consumers’ favorite smart device when and where they shop. With SAP HANA and the SAP Netweaver Cloud Platform, the stage is definitely set for the virtuous circle of technology and growth in retail and consumer products in a digitized world. It’s the union of Location-based offers “I know where my customers are, but everyone gets the same offer” and Loyalty-based offers “I know who my customers are, but can I reach them at the right time?” No more compromises!
In a nutshell with SAP Precision Retailing, a Retailer or Consumer Product company can keep up with and meet consumers’ expectations. They are able to:
- Understand the consumer shopping context (who, what, where, when)
- Access relevant content from legacy systems (CRM, ERP, POS, BI, PMR, etc.)
- Send personalized offers, product information and availability
- Analyze performance to optimize campaigns
And such a solution will find wide application around the globe. Did you know that four out of five people say they are more likely to do business with retailers that personalize preferences on where, when, and how they engage them (see NCR study) and according to recent survey by Nielsen, more than 70% of consumers want to shop with digital engagement in the future.
There’s more about SAP Precision Retailing at the North America Retail Forum in this earlier blog, and in this blog on retailers fighting showrooming, and in this special report as an element of Retail 3.0 recently featured in Retail Leader.