In the competitive landscape of US retail, Jitender Miglani, Sr Forecast Analyst for Forester, observes that retail sales have fallen off both virtually and in the real space for the first three quarters of 2023. However, E-commerce sales penetration, he notes, has started to rise again.1
The immediacy of the virtual sale has become the arena where sales movement begins, beating out the monolithic movement of supply chain logistics, and the 'turn and burn the shelf' store mentality. This virtual space is an area where smaller retail can compete.
The objective is to only not to win, but also to keep the sale. Speed, personalized customer service and communication, in other words, connecting when you need, without fail, is key.
Managed connectivity can empower smaller retailers to compete with E-commerce giants if they can effectively offer:
- Reliable connectivity to optimize their online platforms, ensuring seamless and fast transaction processes, better communication, and expedient and efficient online experiences.
- Resilient, connected inventory management, order processing, and real-time updates, synchronized with online platforms to ensure fast, and accurate product availability and order fulfillment.
- Real-time visibility to meet customer expectations, mitigate issues, and communicate with customers for quick delivery, product availability and personalized solutions.
- The agility to adapt and scale their operations in response to market demands including expanding product range, implementing targeted marketing campaigns, or enhancing customer engagement strategies.
NEXXIS provides reliable connectivity services to ensure smaller retailers are prepared to flexibly navigate the dynamic retail landscape uninterrupted, with speed, and resilience.
Managing your data, voice and communication services is a strategic move for smaller retailers that empowers their IT and marketing to remain productive and competitive in the E-commerce space, not just during Cyber Monday but year-round.
1https://www.forrester.com/blogs/us-retail-and-e-commerce-sales-trends-2023/#:~:text=After%20consistently%20remaining%20within%20the,in%20the%20past%20two%20quarters.