Shoppers are evolving. They are becoming increasingly more knowledgeable about the products they wish to purchase and more empowered through the rise in social media and smartphone usage. If they arrive in your physical store and cannot find a specific product, they can easily use their smartphone to search for another retailer that has the item in stock. In addition, consumer demand is becoming increasingly difficult to predict. Purchasing behavior data and demand indicators are arriving through multiple channels (in store, mobile, online) and in various unstructured formats. Retailers must now learn to process multiple forms of data just to be able to perform their merchandise, financial and promotions planning.
NRF 2013: Retail’s BIG Show is an amazing conference in which retailers will gather after the hectic holiday season to share their learnings. We at SAP Retail are proud to be a Chairman Sponsor of NRF 2013 and will be sharing a number of solutions to help retailers develop a truly Customer-Centric Merchandising strategy and learn to Plan and Market Better.
Here are 3 solutions we will be presenting at NRF 2013:
1. SAP Merchandise and Assortment Planning
SAP defines the ability to merchandise, plan, assort, price, promote and target anyone from a group of customers to a segment to achieve a Customer Centric Merchandising strategy. With a real-time data platform underneath and a myriad of solutions, SAP combines merchandising capabilities with transaction and customer data to provide retailers of all sizes the ability to know their customers’ demands and product preferences like never before.
2. SAP Promotion Management for Retail (PMR)
Knowledge of the customer enables SAP customer to plan better by leveraging SAP’s new In- Memory platform (HANA) to enable your strategic merchandise planning processes. The SAP Promotion Management for Retail (PMR) helps retailers determine which types of promotions will be the most attractive for their customers, and simultaneously lucrative for the business. Thus, PMR improves their bottom-line profitability by planning, creating and executing more strategic and profitable promotions.
3. SAP Precision Retailing Mobile Solution
Retailers can Market Better with the SAP Precision Retailing Mobile Solution by sending highly personalized offers directly to shoppers in real time. Offers can be in the form of coupons and complementary or alternate product suggestions. For example, if a customer adds pasta to her shopping list, the SAP Precision Retailing solution can suggest a tasty sauce to complement her pasta. The solution can also suggest a different brand of pasta that may provide the grocer with a higher profit margin. As a result, the SAP Precision Mobile Solution can increase store traffic and sales with personalized consumer information to influence behavior right before a purchasing decision is made.
Please visit the SAP Retail booth to learn more about how our customers are using these solutions to combat retail challenges in the new year.