Consumers freely turn over volumes of personal data. The return implied is an immersive experience painstakingly accrued over numerous, consistent, accurate, high-quality interactions across all touch points. Retailers who fail to effectively leverage UX design, social, mobile, and big data to provide a personalized, immersive experience that presents the right product at the right price through the right channel at the right time are not long for this world. SAP Sales Insight for Retail and customer engagement solutions by hybris, an SAP company, help satisfy the demands of “always-on” consumers as well as increasingly complex business requirements.
To provide a truly, immersive consumer experience, retailers must troll oceans of data to make spot-on, real-time decisions. Myriads of challenges dealing with today’s unprecedented data volume include capturing, storing, cleansing, searching, sharing, analyzing, and visualizing – to name just a few.
There’s also the formidable challenge of interacting with the consumer in the context of his or her world, via the device in hand, at the perfect moment in time.
Seamless omni-channel capabilities are a prerequisite for providing an immersive consumer experience, and while retailers have worked mightily over the past decade bolstering their omni-channel presence, much work remains.
A survey conducted by JWT Intelligence found that more than 7 in 10 of the 1,003 American and British adults polled say they like it when brands or products actively attempt to capture their imagination. Nearly half say they put a priority on the “wow” factor when engaging with a brand or product, and close to 6 in 10 said that they increasingly seek experiences that capture their attention which is short and often divided. Millennials, followed by Gen Xers, are more inclined to make these assertions than Boomers, according to the survey.
Clearly, consumer expectations have risen. The status quo is no longer sufficient. Consumers crave immersion, in their world, not the world as defined by traditional retail. They want to participate with a brand that knows them, shares their values, and makes transacting business a natural activity, one that is as engaging as it is helpful, as enjoyable as it is practical, as honest and safe as it is easy, memorable and fun. Consumers crave interactions with retailers that are both effortless and satisfying.
Deep analysis of real-time data is vital
Powered by the SAP HANA platform, the SAP Sales Insight for Retail analytic application not only helps retailers stay afloat but also empowers them to sail full steam through big-data waters – charted and uncharted.
Speed is of the essence for retailers in today’s fast-paced, big-data world. Leveraging HANA, the SAP Sales Insight Analysis for Retail analytic application enables retailers to significantly speed up analysis of terabytes of data (>20x faster than traditional databases), reduce shelf turnaround, eliminate out of stock scenarios during promotions, and instantly identify and correct cross-channel discrepancies – among many additional, meaningful and measurable business benefits.
From e-commerce to immersion commerce
Acquired by SAP in 2013, hybris is a rapidly growing, Swiss-based software company specializing in multi-channel e-commerce technology that helps businesses strengthen brands, solidify customer relationships, and grow revenue by empowering them to present customers a compelling and consistent experience across all channels -- the Web, mobile devices, social media, kiosks, call centers, physical locations, etc.
Hybris bills itself as "the future of e-commerce" and the "ERP of the front end." SAP’s back-end ERP prowess and CRM strength is already well known. With customer interactions quickly moving to mobile devices, the urgency of integration across channels is obvious.
Using SAP HANA as a data mart populated with real-time data from ERP, CRM and other systems (SAP and non-SAP), and integrated with SAP Analytics solutions, the hybris multi-channel solution empowers retailers to tap a customer’s individual profile, past buying behavior and relevant product information, and based on lightning-fast analysis of this information at the point of transaction, offer an incentive such as matching an online price, or waving shipping costs, or bundling product offerings, etc.
Success in retail hinges no longer on targeting demographic segments but engaging a specific customer personally (ie. Bob – age 30, lives in Denver, CO., loves fine chocolate, drives a 2007 Honda, and posts workout tips on Twitter). Leading retailers focus on understanding customer behavior, predicting purchasing trends, identifying new sales opportunities, maintaining inventory control, gauging customer sentiment, individualizing the customer experience, strengthening customer loyalty, and unifying multiple sales channels – for starters.
As consumers increasingly seek amped-up, immersive share-worthy experiences, marketers will have to harness an array of advanced tech tools and stretch their imaginations. SAP Sales Insight for Retail analytic application and e-commerce solutions from hybris help retailers leverage omni-channel excellence to provide the immersive experience consumers will embrace today, and talk about tomorrow.
Pursuing Your Immersive Experience Strategy
At NTT DATA, we invest in SAP innovations to ensure that our customers always get the most from their SAP investment. We invite you to engage with us to help you define your omni-channel to immersive customer engagement conversion by way of a half-day workshop to address the following:
- Identify business & IT objectives & priorities with both business and IT leaders
- Discuss market dynamics and trends
- Identify areas for immersive experience enablement and enhancement
- Define vision & set direction for customer engagement roadmap
Contact Nick Katzenbach at NTT Data for more information.