Insights from NRF: IBM Makes Retail Smarter with New Store Solution
At the National Retail Federation Convention this week, IBM and Toshiba Global Commerce Solutions announced a joint solution that will provide seamless cross-channel connectivity, leveraging common data and services, from the store across all channels. This is the only solution in the market that provides a single point of commerce that is extended to the store without combining point solutions that require on-going maintenance of integrations and expensive and time consuming changes whenever business needs change.
Why is this new solution important? Most retailers are challenged to incorporate the store in their cross-channel processes, primarily because of disparate systems and the high cost of integration. However, many retailers have reported that if they cannot integrate cross-channel and digital solutions into their business plan, they will lose sales and revenue. Now, retailers can provide a consistent brand experience for their consumers across all channels including the store to improve consumer satisfaction and share of wallet.
Consumers are expecting new and innovative services from retailers, and those services require greater integration and execution, across all channels. By combining point-of-sale and cross-channel order management capabilities, IBM and Toshiba are delivering an innovative approach to offering those services by enabling various store-to-store and cross-channel scenarios such as:
- Buy online and pick up at the store
- Buy online, delivery to house, exchange at the store
- Buy at store, pick up at alternate store
- Save the sale by finding inventory or alternatives to out of stock items
- Adding services to in store purchase
- Changing service appointment at store for item purchased online
- Increased assortment through endless aisle (one stop shopping for consumer)
- Personalized services or offerings that are driven by 360 degree visibility
With this joint solution, consumers gain a more personalized shopping experience with the ability to seamlessly interact with the retailer how they choose without the delay and inconvenience of the retailer not having updated and accurate customer and inventory information across all channels. For more information, you can read our release, or visit IBM’s site.