Embracing innovation in the ever-changing retail landscape

Staying ahead in the retail landscape involves exploring new avenues for untapped growth opportunities. An agile retail supply chain, optimising stocks, maintaining inventory flow with improved visibility, and offering flexibility provide the necessary competitive edge.

Retailers seek this advantage by exploring new avenues that promise potential growth opportunities. Let's take a closer look at the key factors guiding them on this transformative journey.

Automation

The retail landscape is experiencing unprecedented changes in customer preferences, creating a volatile demand environment. To navigate this uncertainty, automation emerges as a crucial ally.

When businesses leverage automated systems, they gain the ability to defer strategic and operational decisions, adapting to ever-fluctuating demand patterns while maintaining precision in the supply chain's constant flow.

Retail businesses, such as Carrefour, lead the way in automation with Carrefour being the first supermarket in Kenya to implement self-checkout.

Customers can scan and pay for their items independently, saving them time and enhancing their overall shopping experience.

Carrefour has also implemented barcode scanners throughout the supermarket, allowing customers to easily scan items to confirm prices when the information is not readily visible on the shelf.

Digitisation

Kenya has one of the highest smartphone and internet penetration in the continent. According to a recent survey by Market Research Inc, 7 out of 10 customers make their initial product or service contact online, with 80% of these interactions occurring via mobile phones.

Digitisation proves to be a game-changer in the world of retail, cushioning the impact of evolving customer behaviour.

The growing digital presence in retail supply chains fuels the rise of omnichannel sales, improves responsiveness, controls costs, and streamlines inventory data, propelling the industry forward into a new era.

With digitisation, customers can now shop online through retail apps, websites, and other delivery platforms, ensuring the prompt receipt of goods and products.

Cyber Security

As retailers embrace digital transformation, the need for robust cyber security measures have become paramount. Retailers are investing in state-of-the-art cyber security solutions to safeguard customer information, ensuring a secure and trustworthy shopping experience.

As cyber threats continue to evolve, the importance of secure transactions within shopping apps or websites cannot be overlooked. This added layer of security empowers users, assuring them that their sensitive information remains protected throughout the purchase process.

Frictionless Delivery

The COVID-19 pandemic brought about a significant shift in the retail landscape, with a newfound emphasis on the importance of deliveries.

Despite existing before the pandemic, deliveries experienced a substantial surge in demand. In response to this trend, retail chains have recognised the need for a frictionless delivery option to meet the evolving needs of customers.

Streamlining the entire delivery process will ensure a swift and hassle-free experience for customers receiving their orders at home or office on time. To uphold the quality of service, one must recognise the crucial elements of a frictionless delivery.

Timeliness becomes a key factor, ensuring that deliveries are prompt and align with customers' schedules. Moreover, the emphasis on delivering high-quality products is crucial, especially when customers are unable to physically select their items in-store.

This commitment to excellence is fundamental to sustaining the success of a frictionless delivery service, catering to the evolving expectations of modern consumers in a post-pandemic retail landscape.

Sustainability

While sustainability continues to be a primary area of concern for every industry, the discussions around this topic for the retail vertical are rather different. One of the primary reasons behind this is that sustainability is viewed as something that can incur additional expenses.

However, retailers can easily achieve sustainability by merely building more efficient processes within their supply chains. This can include optimising packaging to be eco-friendly, choosing more efficient delivery routes, digitising paperwork, and cutting down on food waste, contributing to environmental and social responsibility.

To remain competitive, retailers must prioritise convenience and delivering exceptional customer experiences. This can be achieved through the implementation of technology and innovation, which will automate and digitise their services and processes.

It is crucial, however, to ensure a secure cyber environment and protect customer data. Additionally, expanding into e-commerce and engaging in sustainable business practices will give retailers a competitive advantage.