Consumers don’t have to wait for anything today. It’s all right there for them to see and experience for themselves. They see no reason to wait or pay a premium for anything. With renewed optimism, a fast-paced society and an even faster-paced change in technology, consumers want new, different, and customized goods — now.
Enterprises can certainly live up to that, by living up to the retail mantra of today — better, faster, leaner. With the immense growth observed and a renewed confidence in the economy, retailers hope to see consumers demonstrate some serious spending power. However, retailers will have to focus more on the digital front — “channelize, mobilize and socialize” to stay ahead in today’s “click-and-mortar” retail game.
Challenges & Opportunities
The more your consumers see you, the more they’ll want to know about you. Online consumers will buy if they’ve seen it, like it and are convinced of it. Their product research actually drives more land-store sales than online sales. So, all channels where the consumer might get information from — the retail store, website and catalogue — must be closely aligned and monitored for maximum impact and hence, sales.
Mobility in retail:
Consumers around the world are ready to use mobile devices to shop, compare and transact on the web or in stores. Market research indicates that nearly 70% of consumers across the globe always have their mobile devices with them while they are in a store — which they use to consult family and friends about their purchase. This gives retailers an unprecedented opportunity to make an impact on the consumers at their so-called ‘moment of truth’.
Today’s consumer has access to information at a click — about product assortment, pricing, quality and everything else there is to know. Given the scenario, companies can create more wallet-share by reaching out across digital channels — mobiles, interactive TVs, social communities. In-store technology like smart kiosks and digital signage hold immense potential to observe and influence shopping behavior. With traditional media failing to deliver the impact it once did, mastering “group” coupons and social channels in addition to email and search ads rounds out a retail strategy to maximize today’s “convergence of opportunities”.
How Maven Infosoft Delivers Business Value
Equipped with extensive industry, technology and delivery capabilities, we work with you to provide solutions and services that address strategic and operational challenges, optimize business performance, align technology with business priorities, reduce cost, improve margins and constantly sharpen competitive advantage. We have invested in a rich set of solution offerings, assets and accelerators to increase ROI and decrease the time-to-value of your business and IT programs.
Segments We Serve
We believe that retailers shouldn’t have to choose between a strategic partner and a cost-effective outsourcing provider. With Maven, you get the best of both.
Amid increased competition and complex supply chains, we help you meet changing consumer demands. Our merchandising solutions include price optimization, category management, assortment planning, promotions and marketing. By implementing solutions provided by Maven Infosoft, general merchandisers are proving they can thrive in both mature and emerging markets. In fact, high performance is still achievable in places where consumer income is on the rise, where competition is less intense and where there is room and opportunity for corporate expansion.
Our solutions help to optimize prices, provide intelligent inventory planning and implement high-powered POS systems that speed checkout and enhance the customer experience. As consumers prefer more personalization, fresh products and better convenience, it’s now the grocer’s imperative to differentiate themselves in the entire value chain, especially in the areas of merchandising, supply chain, inventory management, and customer experience.
We can optimize your merchandising, increase supply chain efficiencies, generate accurate product mix forecasts and improve service levels for maximum customer retention.
Health & Wellness
Worldwide, pharmacies as a business are changing. Over the years, they have been transformed into sophisticated health and wellness retail businesses. The change has been driven by increasing consumer consciousness in healthy living and a growing demand for organic foods, nutritional supplements, and health and wellbeing enhancers. We help you give your health and wellness business a technology boost and ensure greater fitness to meet changing customer needs and beat growing competition.
Specialty retailers face the daunting challenge of competing with discount and online-only retailers who offer broad selection of merchandize and low prices. To succeed in this hyper-competitive business environment, Maven enables specialty retailers devise innovative ways to compete and invest in offering products and services at compelling price points while delivering exceptional customer experience across all channels and touch points. Also considering that this segment is the most affected by macroeconomic factors, we help specialty retailers in technology powered business transformation and efficiency initiatives to survive and succeed.