📋 Tender Overview
Wipro Limited a leading global information technology consulting and business process services company in collaboration with US-based retail magazine Retail Info Systems RIS developed a report titled Smart Store Strategies for Digitally Savvy Time-Crunched Shoppers. The study based on a poll conducted with senior executives from national and large regional retail organisations reveals how retailers need to combine human and technology best practices to create store-of-the-future strategies. It also highlights technology investments necessary to ensure financial success.This conversation on best practices for technology deployment comes at a crucial time for retailers as brick-and-mortar locations face increasing pressure to compete with consumers ecommerce options. Wipro and RIS found that an overwhelming number of retailers are planning to stay competitive in the future by investing in new technology solutions such as digital signage new mobile applications and AI-driven customer service and support for enhanced consumer experiences called store-of-the-future.The study finds that retailers are looking for guidance on improving implementation of strategies and ensuring their investments become profitable. Some of Wipros and RISs additional observations on how retailers are creating store-of-the-future strategies include81 of retailers say its important to adopt a smart store-of-the-future strategy to succeed with todays consumers. 88 also say that store associates play a big role in those strategies.Most retailers want to improve their methods and best practices as many respondents rated their performance in implementing store-of-the-future strategies as middling scoring themselves just 5.5 on a scale of 10.Retailers identify three high-level consumer strategies that rise far above the rest service 88 said yes convenience 73 and value 67.Retailers believe the most important customer-facing technologies are click and collect 85 proximity or location engagement in stores 64 and buy online and return in store 55.New shopper-facing technologies retailers plan to invest in include new payment options 62 interactive digital signage 47 and click-and-collect 44.Advanced back-office technologies are also important. Retailers plan to invest in technologies such as advanced order management 79 mobile apps for store staff 70 personalized marketing capabilities 61 in-store mobile devices 58 and AI-driven customer service and support 28.Wipros work with its retail partners to build smart stores-of-the-future is based on the five pillars of seamless experiences human-centric intelligence future-ready trusted and safe - the SHIFT principle - to build innovative solutions said Deviprasad Rambhatla Senior Vice President and Global Head Retail Distribution and Transportation RDAT Wipro Limited. These guiding principles will help our teams improve financial results for retailers as well as enhance the experiences for their customers and store associates he said.
