Serviceware Comment: Investing in a Hybrid Approach to Retail

  • Non-Financials
  • 19.05.2021 06:47 pm

Attributable to Ronnie Wilson, Group Executive Vice President, Serviceware:

“The consumer shift to the digital realm is set to continue into much of 2021. And many customers are likely to stay thanks to its ease and immediacy, as well as value-add offerings such as chatbots, augmented reality, email promotions and social campaigns. However, despite all of the modern gadgets and tools, many shoppers have missed the physical experience, finding personalisation is still best met in store. For businesses, the answer lies in balance, and leveraging the best of both worlds in a conjoined way. Used in-store, technology brings the same level of ease and visibility that chatbots can offer online."

“Freeing up liquidity is the most proactive and sustainable way for CFOs to bridge these worlds. It is imperative that retail business leaders gain a transparent view of costs vs business value. By leveraging this intelligence, retailers can cut costs in one area to strategically invest in another that drives greater value and ROI. Financial management tools are the key to unlocking those real-time insights to inform when best to invest, to what extent, and to what end. Through greater transparency, retailers can ensure that innovation takes centre-stage – and in doing so, delight customers to retain loyalty.”

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