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Retail
An exceptional array of pressures and opportunities are challenging today's retail executives. These challenges are perhaps greater than at any other time in the history of the industry.
- Competition- The rise and fall of online-only retailers has been replaced with increased competition and sophistication by traditional retailers who have embraced an integrated approach to the traditional storefront, including both online and catalog sales channels.
- Efficiency- Successful retailers are leveraging the Internet as a key enabler in conducting business, improving organizational connectivity, collaboration and knowledge management, along with extending and refining the traditional e-Commerce base.
- Timing- Re-tooling or investing in a slow economy is "what it will take" to outpace the competition during an economic re-growth period. Insightful retailers are using this time to catch up, maximize operational efficiencies and prepare for the next growth cycle.
Retailers must develop more cost effective sales strategies, better leverage current assets and adapt to changing market needs in order to stay competitive. Weaving together customer knowledge, workflow and technology into a profitable "Connected Retail Enterprise" is more complex than ever expected. But those that get it right will enjoy great rewards - sustainable competitive advantages in customer intimacy, product leadership and profitability. Opportunities include:
- Top Line Growth - Maximize revenue by developing integrated distribution and inventory management systems that track, forecast and respond to trends across sales channels.
- Cost Savings - Leverage technology to optimize and extend existing business intelligence, supply chain and customer relationship management processes.
- Operational Excellence- Utilize the Internet as a key business enabler by improving the development and marketing of new products. Connect and extend internal collaboration tools to enhance in-store, catalog and e-Commerce channels.
- Customer Satisfaction - Improve customer satisfaction across retail channels by integrating customer knowledge; workflow and technology into a "Connected Retail Enterprise" better prepared to meet all customer needs.
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