Aberdeen defines the vertical consumer industries such as retail/consumer packaged goods, hospitality, and banking as a combination of processes, disciplines, organizational capabilities and technologies involved with the buying and selling of products and services in a formally organized manner to fulfill the customer promise. Our research is geared towards addressing the pain points of business and technology executives in each of these industries at a time when transformation and new thinking is required to understand what customers really desire in products and services sold across consumer vertical industry sub-segments.
Traditional retail operations were all about a static year-over-year model that required balancing task and customer service, maintaining in-stock levels, effective space planning and assortments, and impeccable merchandise presentation within the four walls. However, customer conversion in retail is not about just setting-up a store or a channel. Customer's evolving channel preferences from product research to buying affinity has meant that retailers are turning to Operations 2.0, which is essentially linking the four walls, warehouses, and supply chain processes with digital (the use of social, mobile, voice, and other new consumer interaction mediums) and cross-channel retailing. New and old retail formats must integrate to fulfill the needs of the converged consumer.
Despite the fact that retailers are aware of the rapidly changing consumer-retailer relationship, consumer-led digital transformation is proving to be more disruptive than previously anticipated by retailers. These enterprises are compelled to develop new customer engagement strategies, and re-think operations to accommodate both the traditional and digital retail selling environment. As mobility, tablets, and social commerce emerge as new channel and customer shopping experience opportunities, retailers need to understand the impact points throughout the value chain. Aberdeen data has shown that, in order to establish high levels of customer relevance, effective data management, converged retailing, optimum inventory, and agile supply chain, digital, and converged retailing strategies need to be integrated for creating one version of truth for customers and employees alike.
During the rest 2011 and the first quarter 2012, the Retail, Hospitality, and Banking practice at Aberdeen will focus on the following themes that encompass the scope of strategies among today's Best-in-Class organizations:
- New-Age Customer: Digital Retail and Customer-Centricity: Taking care of the customer is a retailer's prime directive for increased loyalty and bottom-line contribution. Success in 2011 and beyond hinges on developing ways to leverage online, mobile, social, and other digital channels as part of an integrated retail strategy. How can retailers harness increased customer-centric service and sales models in-stores, and across all digital channels?
- Retail Insights: Intelligence-Driven Retailing: The truth is retailers have more data than they are capable of analyzing. Hear real-world case studies from retailers who are successfully delivering actionable insights about customers, merchandise, and operations using both standard (e.g. PC and web-based based) and mobility-based delivery formats every day for reducing errors and maximizing gains.
- Operations 2.0: Localized Inventory, Merchandise and Supply Chain Optimization: Learn about steps that Best-in-Class retailers are executing to be as localized and consumer-driven as possible during the end-to-end Design-to-Deliver phases. Discover how Best-in-Class retailers are ensuring speed-to-market through smart processes and intelligent devices: in-store, in the warehouse, and in the supply chain.