With the ever changing times we can see the evolution happening. Things which was a luxury till yesterday are a necessity today. With the growth in income and an increase in the purchasing power of the people the outlook of people has changed towards a lot of things.
One of the major industries thriving today is the retail industry. It has witnessed a massive growth of the economy. With the changing trends and the policies we see more and more of retail in out day to day life. Both retailers and their suppliers have had no choice but to learn how to work smarter, run leaner, and essentially do more with less. All manner of unneeded cost has been squeezed from operations. In particular, inventories are much more closely controlled. Not only are retailers stocking less of any given item, they’re also far more particular about which items to stock. Moreover, both retailers and suppliers believe that the lessons learned during the current recession position their companies for strong and sustained growth once the economy turns.
The future trend in Retailing will be more towards lean inventory, online shopping, seamless customer experience, and value-add to shopping experience, reduce packaging and energy consumption etc.
Centum’s SAP Retail solution portfolio provides hard-line and soft-line retailers with a means to turn today’s challenges into opportunities with solutions that help drive profitable multichannel retailing .The solutions also help Customer to address the above mentioned future trends, which in turn helps them on top of their retail business segment. It helps Retailers the insight to better understand the shoppers and their business, the operational efficiency to ensure profit, and the adaptability to capitalize on the best opportunities to grow.