READ is a smart solution leveraging the power of Artificial Intelligence and Analytics helping businesses connect customer behaviour to business operations. READ is the the retailers’ foundation for multi-channel and predictive retailing.
Customers have become demanding. Competition fierce. Add to this, the retail industry has two primary challenges – enormous data and short response time. And according to McKinsey, retailers who embrace the "Big Data" opportunity could increase margins by 60%. This means retailers need to act on the enormous data in real-time, right as things happen in stores to make a meaningful impact on sales, revenue, and customer retention.
READ - Mobile Retailing Solution for Retailers and Retail Customers
Given the dynamics of the industry, retailers need solutions to quickly assimilate millions of data points from across their channels, track customer buying sentiments, generate meaningful reports to give them a competitive edge. Applexus READ is a key enabler for clienteling solution. It’s built on SAP HANA and pre-integrated with SAP CAR. Its analytical foundation and modules have been designed to help retailers leverage insights from data in real-time to increase sales and customer loyalty.
READ (Retail Engagement Analysis & Discovery) is an Artificial Intelligence enabled clienteling application for modern day retailers. READ allows store associates to assist customers in their buying decisions with better information access about products available in store. With a holistic view of inventory, pricing information, customer’s previous shopping habits and preferences, sales associates can turn into sales champions by engineering a happy shopping experience.
READ can handle huge data volume coming from ERP, POS, CRM, and other sources such as Revenue & Product Planning Systems, Store Traffic Monitoring Systems etc. In an industry where there are a lot of empowered consumers, a vibrant online presence, where margins are under pressure, READ is significant to help optimize store operations, empower customers, and increase top and bottom lines.
“Today's sales associate needs to pivot, transforming from a source of information to a facilitator of engagement. At the core of this pivot is a new generation of clienteling” - Forrester
READ is AI Enabled
Using facial recognition, you can create a seamless no-effort way to identify customers as they come into your store. A customer can opt-in and enroll their image, then be greeted by name whenever they visit. Similarly, you can create a self-service kiosk for customers to check-in and receive a customized shopping experience directly to their mobile device.
What READ means to Retail Salesforce?
Sales associates are able to offer better products with great offers based on customer’s preferences and shopping habits. They have a 360-degree view of the customer with regards to their purchase history, brand and price preferences, special occasions like Birthdays and Anniversaries.
Your salesforce gets the opportunity to cross-sell and up-sell products to customers with recommendations suggested by READ. Recommendations include wish-lists that customers might have created, previous requests that were not full-filled, exchange offers and much more.
Better Product Information
Sales associates have access to a multitude of information about all products available in-store including detailed specifications, shelf availability, best-selling price, loyalty point redemption info and much more.
Better integration of store and price data allows sales personnel to shape favourable price pitches instantly to sell more.
Associates get a real-time view of their commissions, sales volume, performance reports and much more
What READ means to Retailers?
Improved Brand loyalty
Seamless customer engagement to improve brand loyalty and increase store visit frequencies
Consolidated data from social profiles to understand customer sentiments and opinions about your store and its products and services
Leverage customer data such as brand preferences, special occasions, and etc., to create personalized marketing and promotional campaigns.
Access sales data of store associates to ascertain their sales skills to offer incentives, training schedules and motivational support to sell more and improve profits.
What READ means to Retail customers?
Know what is in store
Retail customers can know what’s waiting for them in-store on their smartphone using the READ customer app
Customers can raise issues or register grievances or send feedback through the READ app, which would then be addressed in real-time by your customer relations team
Customers can have a real-time view of loyalty schemes, earned and redeemed points, redemption methods and much more from the app
READ creates a smarter retail ecosystem
Read allows owners, members of the board and all who have a commanding say in the business to have a clear cut picture of the business with reports and analytical insights into the length and breadth of sales and productivity.
Marketers can create smarter promotional campaigns with availability of clear insights into buying patterns such as frequency of shopping, spending power, seasonal influences in purchases, order cancellation trends, etc.
Store Managers can identify cross selling recommendations, POS insights, store performance reports, product performance reports, etc.
Inventory Managers and Merchandisers are able to anticipate order volumes and arrange stock accordingly thereby balancing demand and supply.
So, what is READ?
- True Connect - Enable store associates to know customer preferences and serve them better in real time
- Smart Selling - Empower store associates with up-selling and cross-selling opportunities
- Sales Genie – On floor sales plan and performance tracker forsales associates – Keep the associates motivated
- Discover – One click access to 120 key performance Indicators for sales, inventory, trend, sentiment, traffic and more
- MyShoppe – Customer self service app for personalized promotions, smart offers, Gallery and Wish list