How to Find the Value in Retail Store Data

 

Technology has transformed the retail space. With the popularity of online shopping, retail stores are forced to consistently keep up with the shopping habits of their customers. Retailer, however, are not tech experts, and can struggle to integrate data collection into their business model while still creating an enjoyable shopping experience for their customers. This is where Octopus Management Solutions Inc. comes in.

ShouYi Poon, Vice President of Business Development at Octopus, joined the MarketScale Retail Podcast to discuss how the company consults with retail businesses to create a holistic, flexible technology solution for a brick-and-mortar space.

Technology in retail is not one-size-fits-all. Each business has its own unique customers and requires a custom blend of technology to fit its current infrastructure. However, retailers do not want to be bogged down by tech. As a result, the technology that retail companies bring in often does not communicate with the business as a whole.

For example, consumers want an online dashboard to check their purchase history, track orders, and watch loyalty points. Between buying online and buying in-store though, data gets lost and is not always communicated between brick-and-mortar shops and online platforms. In order to keep customers coming back, technology solutions must seamlessly communicate data between digital and physical stores.

Octopus Management Solutions Inc. helps implement tech that is designed, built, tested, and implemented specifically for the needs and consumer desires of each unique business.

Contrary to popular belief, retail shopping is not dead. Rather, it is adapting to the desires of its customers. Shopping is no longer about ticking off a list—it is about creating an enjoyable shopping experience for the consumer. Technology is essential to creating this harmonious experience that keeps shoppers coming back for more.

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