The retail industry has taken a leap forward. From mom and pop stores to eCommerce, retail has seen much improvements in technological domain. Nowadays almost every retailer whether big or small is using e-Commerce as one of the channels for sales. E-Commerce retail shops have different inventory, different CRM, different customers as compared to off line sales. This makes business management a complex task.
Solution to this problem is “Omni Channel Retail”. Omni Channel Retails are the solutions where all inventories, CRM are coming from a single system.This connected system has POS, eCommerce, m-commerce and other channels connected from the same system.
Let’s visualize how it works:
Let’s say there is a shop which has P.O.S. which bills customers coming from the offline channel. All the inventory and CRM systems in the shop are digitally managed.
Customers may also buy from E-Commerce/M-commerce store of same brand and items to be sold are exposed theirs as a unified presence.
Now retailer may also in third party digital stores lets say Flipkart, Snapdeal etc also, the system has exposed APIs to them to fetch inventories dynamically to make sure if there is any change in inventory their system updates automatically.
Customers which are coming offline/online are also same hence a common CRM should also work. Discount at eCommerce store, m-commerce store or POS should be same as well. A common CRM is generating discounts code which can be used on any of channel.
We at Micra Systems believe is that sooner or later all major offline/online retailers need to adopt Omni Channel strategy.