OnDemand WTP Pricing Research

The Promise of Personalization in Retail | One-Off Sound Off

Given the personalization trend, it is not surprising that customers are comfortable getting involved with product personalization. Purchasing a tailored made product, receiving it quickly, cheaply, and to the location of their choice with full visibility into the sustainability and compliance practices of each participant in the value chain is the epitome of a personalized supply chain. It is also an enormous undertaking for companies to deliver on this customer vision. Every point of the supply chain will feel the pressure to be reliable, available, and agile.

For example, Product Lifecycle Management software and Product Configuration & Pricing Software will need to collaborate to determine what customizations can be presented and delivered to customers. These solutions not only help generate orders, but will need to observe, track, and incorporate the desires of customers to ensure the level of customization offered is sufficient.

As customers and retailers grow closer together, the desired level of customization is only going to increase. Consumers are constantly shopping –  through their phones, their computers, and the digital assistants in their homes. They want more product details, more delivery options, more personalized promotions, and faster, cheaper service.

Retailers are investing heavily in the simplification and integration of retail channels and business functions in order to satisfy customers. The investment into a unified commerce platform is really a story about reducing friction through better visibility. Single views of customers, orders, products, inventory, prices, and promotions are essential to reduce customer frustration and manage their omni-channel expectations.

Read complete article here:

The Promise of Personalization in Retail – One-Off Sound Off.

Post a Comment

WP-SpamFree by Pole Position Marketing