{"id":54176,"date":"2021-01-12T13:47:15","date_gmt":"2021-01-12T21:47:15","guid":{"rendered":""},"modified":"2022-04-11T14:00:03","modified_gmt":"2022-04-11T21:00:03","slug":"a-time-to-pivot-what-comes-next-for-retail","status":"publish","type":"post","link":"https:\/\/newed.any0.dpdns.org\/en-us\/industry\/microsoft-in-business\/customer-experience\/2021\/01\/12\/a-time-to-pivot-what-comes-next-for-retail\/","title":{"rendered":"A time to pivot: What comes next for retail\u202f"},"content":{"rendered":"

\"WomanThe past year has accelerated the push toward digital transformation for many industries, maybe none more than retail. From operations to manufacturing supply chain to customer experience, there is no facet of retail that is not facing the imperative to pivot or perish.<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

A study by Boston Consulting Group found that\u00a0<\/span>investing in key resilience tools could\u00a0<\/span>save\u00a0<\/span>15\u201325%<\/span>\u00a0in aggregated costs<\/span><\/a>. Yet, they also\u00a0<\/span>discovered\u00a0<\/span>that most companies are not fully realizing the ROI they expect from their digital transformation efforts. The key<\/span>\u00a0to recouping investment<\/span>\u00a0is focusing on the right pillars.\u00a0<\/span>\u00a0<\/span><\/p>\n

For retail engagement, t<\/span>he next\u00a0<\/span>focal points are\u00a0<\/span>customer personalization and safety.\u00a0<\/span>We see r<\/span>etail\u00a0<\/span>continu<\/span>ing<\/span>\u00a0to follow the trend\u00a0<\/span>of the past few years<\/span>\u00a0<\/span>toward greater<\/span>\u00a0personalization of the<\/span>\u00a0<\/span>customer experience<\/span>. <\/span><\/p>\n

Safety: <\/span>A<\/span>n elevated\u00a0<\/span>priority in customer obsession<\/span>\u00a0<\/span><\/h2>\n

At the same time, the pandemic has brought\u00a0<\/span>to the forefront\u00a0<\/span>a new\u00a0<\/span>priority<\/span>\u00a0in our customer obsession<\/span>: safety.\u00a0<\/span>Putting the customer at the center of everything we do has traditionally meant constantly asking<\/span>, \u201cAre we meeting, and even anticipating, the customer\u2019s needs?\u201d\u00a0<\/span>Now,\u00a0<\/span>we must keep a new question\u00a0<\/span>at\u00a0<\/span>top of mind:<\/span>\u00a0<\/span>\u201cDoes the customer feel\u00a0<\/span>safe?<\/span>\u201d<\/span>\u00a0There is a fresh sense of urgency to implement protocols across the retail experience\u00a0<\/span>that protect\u00a0<\/span>both customers and employees.<\/span>\u00a0<\/span><\/p>\n

Appealing to\u00a0<\/span>customers<\/span>\u00a0<\/span>mean<\/span>s<\/span>\u00a0<\/span>creating more robust online offerings as well as ensuring that\u00a0<\/span>brick-and-mortar\u00a0<\/span>customer experiences have additional protections in place<\/span>.<\/span>\u00a0Winning the web will mean leveraging technology to create more\u00a0<\/span>responsive and\u00a0<\/span>immersive shopping experiences. Bringing people back into stores\u00a0<\/span>with confidence\u00a0<\/span>will require measures that allow\u00a0<\/span>interactions that feel safe, from highlighting hygiene protocols to implementing technology that\u00a0<\/span>enables<\/span>\u00a0contactless payment.\u00a0<\/span>Sustaining customer-brand loyalty will require these online and in-store enhancements as well as\u00a0<\/span>creative hybrid solutions, like curbside pickup facilitated by a seamless online purchasing experience<\/span>.\u00a0<\/span>\u00a0<\/span><\/p>\n

While enhancing the customer experience, an emphasis on\u00a0<\/span>safety\u00a0<\/span>also\u00a0<\/span>enable<\/span>s<\/span>\u00a0<\/span>retailers\u00a0<\/span>to\u00a0<\/span>protect their most valued asset: the\u00a0<\/span>people who work for them.\u00a0<\/span>In a constantly changing landscape, leaders must have clear data to manage safer reopenings. Location readiness for phased transitions is determined by local data on infection rates and suppl<\/span>y<\/span>\u00a0availability. There must be proactive plans in place for employee health monitoring as well as workplace care management.\u00a0<\/span>The<\/span>\u00a0customizable<\/span>, low-code\/no-code<\/span>\u00a0<\/span>dashboards\u00a0<\/span>built using Power Apps, Power BI, and Power Automate on the\u00a0<\/span>Microsoft Power Platform<\/span>\u00a0<\/span>Return to the\u00a0<\/span>W<\/span>orkplace solution<\/span><\/a>\u00a0<\/span>support<\/span>\u00a0safer reopening by unlocking the insights\u00a0<\/span>most important for each organization.<\/span>\u00a0<\/span><\/p>\n

What solutions enable employees to feel empowered to deliver their best customer service?<\/span>\u00a0And how can the data-driven insights<\/span>\u00a0<\/span>made possible by digital transformation help companies continue to deliver the best customer experience possible?<\/span>\u00a0<\/span><\/p>\n

A case study in customer engagement\u00a0<\/span>\u00a0<\/span><\/h2>\n

Lids is an example<\/span>\u00a0of a<\/span>\u00a0<\/span>business that<\/span>\u00a0is embracing digital transformation to rise to the next level of customer engagement and personalization.\u00a0<\/span>This branded merchandise retailer<\/span>\u00a0is best known for its floor-to-ceiling displays of hats<\/span>\u00a0<\/span>in a\u00a0<\/span>countless variety of sports team\u00a0<\/span>designs<\/span>. These hats and other branded team merchandise, including many exclusives,<\/span>\u00a0<\/span>sell\u00a0<\/span>at\u00a0<\/span>more than\u00a0<\/span>1,000\u00a0<\/span>outlets across North America, primarily in shopping malls. CEO Tom Ripley has been a strong supporter of embracing technology as a way of\u00a0<\/span>using\u00a0<\/span>the retail experience\u00a0<\/span>as a \u201cgateway\u00a0<\/span>into the future.<\/span>\u201d<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

Along with Nick Corthier, the Senior Vice President of Finance, the<\/span>\u00a0Lids<\/span>\u00a0leadership team implemented\u00a0<\/span>Microsoft Dynamics 365 Finance and Operations as well as D365 Store Commerce to bring a new level of visibility and cohesion to their operations.\u00a0<\/span>They\u00a0<\/span>started out seeking\u00a0<\/span>a finance solution that would bring a single line of sight to<\/span>\u00a0<\/span>data\u00a0<\/span>siloed\u00a0<\/span>in\u00a0<\/span>the sales system, buying<\/span>–<\/span>merchandising system, and general ledger<\/span>\u00a0across online and brick-and-mortar<\/span>\u00a0outlets<\/span>.<\/span>\u00a0They quickly\u00a0<\/span>recognized an<\/span>\u00a0opportunity to leverage the technology to do more.<\/span>\u00a0<\/span><\/p>\n

\u201c[Dynamics 365]<\/span>\u00a0integrates not only with different software solutions throughout the company, but different solutions within the store<\/span>,<\/span>\u201d<\/span>\u00a0says\u00a0<\/span>Corthier<\/span>, explaining how they made the choice to include Dynamics 365 Store Commerce.<\/span>\u00a0<\/span>In addition to enterprise-scale financial reporting and supply<\/span>–<\/span>chain visibility, this solution suite supports a mobile point-of-sale experience. This appeals not only to the shop\u2019s young, image-conscious customer base, but it also helps attract and retain high-quality employees. It empowers them to answer questions and see stock availability from the floor, creating greater personal attention and customer engagement. Handheld\u00a0<\/span>POS\u00a0<\/span>devices also deliver line-busting capabilities to handle surges in holiday traffic more efficiently.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u201c<\/span>W<\/span>hat D365 Retail brought to us from the get-go<\/span>\u00a0is\u00a0<\/span>an opportunity\u00a0<\/span>to\u00a0<\/span>make sure that we could take something well into the future<\/span>,<\/span>\u201d<\/span>\u00a0<\/span>Corthier<\/span>\u00a0says.<\/span>\u00a0<\/span><\/p>\n

Prepare your retail operations for the<\/span>\u00a0future<\/span>\u00a0<\/span>\u00a0<\/span><\/h2>\n

The companies that thrive in the years ahead will be the companies that have\u00a0planned\u00a0to invest in building their resilience. How is your company planning for what comes next in retail? Visit Microsoft\u00a0<\/span>at NRF 2021 Forward Together<\/span><\/a><\/span> and watch our <\/span>NRF Big Ideas session<\/span><\/a><\/span>\u00a0with\u00a0Shelley Bransten<\/b>, Microsoft Corporate Vice President of Retail and Consumer Goods, to hear firsthand\u00a0how Microsoft is helping to build\u00a0more intelligent, resilient, and sustainable retail operations\u00a0for customers worldwide.\u00a0\u00a0<\/span><\/p>\n

Take this opportunity to join fellow retailers and Microsoft representatives to discuss digital transformation. Learn how the right solutions can help your company remain relevant, stay ahead of the competition, and keep a step beyond consumer expectations. Register\u00a0<\/span>now<\/span><\/a>\u00a0for our free\u00a0<\/span>Reimagining Retail Workshop on February 11, 2021\u00a0<\/span><\/b>at\u00a0<\/span><\/b>12:00<\/span><\/b>\u2013<\/span><\/b>2:00\u00a0<\/span><\/b>PM EST<\/span><\/b>.<\/span>\u00a0<\/span><\/div>\n","protected":false},"excerpt":{"rendered":"

The past year has accelerated the push toward digital transformation for many industries, maybe none more than retail. From operations to manufacturing supply chain to customer experience, there is no facet of retail that is not facing the imperative to pivot or perish.<\/p>\n","protected":false},"author":438,"featured_media":54182,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"_classifai_error":"","_classifai_text_to_speech_error":"","footnotes":""},"categories":[1545],"post_tag":[1554,1611,1629,1632,1551],"content-type":[351,534],"coauthors":[1352],"class_list":["post-54176","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-customer-experience","tag-microsoft-dynamics-365","tag-microsoft-power-apps","tag-power-automate","tag-power-bi","tag-retail","content-type-customer-stories","content-type-industry-trends"],"yoast_head":"\nA time to pivot: What comes next for retail\u202f - Microsoft in Business Blogs<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newed.any0.dpdns.org\/en-us\/industry\/microsoft-in-business\/customer-experience\/2021\/01\/12\/a-time-to-pivot-what-comes-next-for-retail\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A time to pivot: What comes next for retail\u202f - Microsoft in Business Blogs\" \/>\n<meta property=\"og:description\" content=\"The past year has accelerated the push toward digital transformation for many industries, maybe none more than retail. 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