With the pandemic invading our lives, there has been a swift increase in online purchases by consumers in general. If you look at one sector which has grown leaps & bounds, it is grocery & beverages. The changing consumer buying patterns and the current conditions have prompted many supermarkets & hypermarkets worldwide to adopt digital/online shopping options that likely will carry into the long term. Delivery and curb side pickup services have seen widespread adoption across the hypermarket channel and are expected to remain in-demand for consumers beyond the pandemic as well. Contactless delivery, Innovative loyalty programs are gaining momentum across retailers of all sizes.
Need of the Hour for Hypermarket Retailers
Hypermarket Retailers need to prioritize innovation around new dynamics as above at each stage of the customer journey. Fast adoption of eCommerce options and also digital marketing strategies is the order of the day. The reality today is that most supermarkets don’t know how to track customers from in-store to online properly. Digital adoption is no longer a thing for the future but has become an absolute necessity in times such as this. Retailers that fail to understand how their digital footprint can drive revenue will not be here in coming years, and if they are, they likely will not be thriving.
Things to Prioritize for shaping Digital Journeys.
We have hereby put together some key pointers for helping Hypermarket retailers embark on their digital journeys
1. Real-time synchronous communication
Retailers should know that having an open line of communication via SMS can enable customer loyalty and increase their revenues considerably. Going forward, it is likely consumers will engage with a mix of online and offline activities when it comes to grocery shopping, rather than exclusively participating in one or the others.
2. Seamless and easy buying experience for consumers
It is imperative that retailers keep pace with these evolved expectations and find new ways to serve customers across multiple channels From inventory availability, stock requests, to payments, delivery, endless aisle etc., make sure your customer experience is great and create delightful journeys for your customer.
3. Shop anywhere, anytime
Customers have plenty of channels to choose from in the current world we live in. They can choose to buy from any channel depending on price competitiveness & convenience provided by the channel. Hypermarkets that create a perfect harmony across their channels are the ones that attract customers rapidly.
4. ‘Insightful’ & personalized shopping
If a retailer can understand the consumer buying behaviours and personalise the experience of their customers by showing products of their interests, this can greatly help in better revenue and customer retention.
5. Flexi payments
The pandemic forced everything to be digital, including the payment transactions. ATMs were replaced with UPI payments, etc., and there are various methods of digital payments apart from the traditional cash/card method. It becomes extremely important to integrate different payment options and give customers a choice to make a payment based on his/her preferred mode.
6. Digital marketing
Retailers need to embark on targeted digital marketing efforts to generate demand and attract customers. Promotions, loyalty rewards, cashback options, elite upgrades have become an expectation of any customer nowadays considering that the likes of Amazon have made it a part of their day to day experience.
7. Fast Delivery
Customers need fast delivery of their orders more so in the case of grocery and beverage items. Also, throughout the process, they want to be kept transparent in terms of where their orders lie. Hyperlocal fulfilment is the order of the day to ensure deliveries are done in the fastest available time and in the most optimal manner.
How can we help?
We, at Invenzo Labs, have years of technical expertise in omnichannel retail software and have been serving Hypermarkets and grocery chains both in India and abroad. Our product suite is built incorporating all the needs and futuristic necessities by hypermarkets to thrive in this competitive world. Our product suite comprises of components as below:
1. Product Information Management (PIMS)
PIMS is designed specifically to ensure end-to-end customer journey through personalisation using data from various points. It also helps in providing best options in every step of customer purchasing.
2. Multichannel order management
With real-time track & trace options, we maintain a single source of product information through which multiple channels are managed. This ensures consistency across various channels of retailing.
3. Store connect
With the help of store connect, customers can find the nearest store to buy a product physically. Also, it helps retailers to understand the nearest warehouse for quick delivery.
4. Custom branded webstore
Custom branded webstore helps to devise an approach based on a customer's journey across several areas.
5. Consumer apps
Consumer apps are built to provide the customised shopping experience for both Android and iOS users.
6. Loyalty management
In order to maintain customer retention for a long time, they are rewarded with several offers and discounts under loyalty management that prompt customers to purchase with the same retailer.
7. Multi-warehouse management
In order to ease delivery experience for both customers as well as retailers, multi-warehouse management helps to provide real-time information about stocks across different nodal points.
8. Hyperlocal fulfilment
During out of stock situations, Hyperlocal fulfilment helps to ensure quick delivery to the concerned node with the nearest node.
9. Smart POS retail
Have real-time offers or discounts both online and in-store with our smart POS retail.
10. Campaigns and promotions management
We help make marketing more interesting and appealing with our ‘out-of-box’, non-conventional yet positively impacting promotional skills.
11. Third party integrations
Enhance your overall retail experience with third-party integrations like Swiggy, Amazon, etc.
12. Seller & Franchise management
Have a balanced seller and franchise management with our intelligent and resilient portal systems.
Hypermarket retailers who are likely to thrive and succeed are the ones who will adapt to newer environments fast and are better prepared. Our endeavour is to do just that - better prepare Hypermarket retailers through our suite of omnichannel components so that they can compete against the best and grow & succeed.