In the past few years, technology has transformed the way that retailers operate and interact with their customers. From mobile shopping apps to personalized marketing campaigns, retailers are leveraging technology to drive sales, increase efficiencies, and improve customer experiences. However, as technology continues to advance at a rapid pace, many retailers are struggling to keep up with the demands of the modern consumer.
This is where CLEVR and Mendix come in. With Mendix, leader in low-code development platforms, and CLEVR’s industry expertise, it's no surprise that many retail organizations turn to them to speed up their digital transformation process. By using Mendix, retailers can quickly adapt to changes in the market and save costs on creating and deploying technology solutions. Mendix's modular and centralized approach allows retailers to streamline operations, improve customer experience, and increase supply chain efficiency.
In this article, we will explore the benefits of using Mendix and CLEVR’s expertise in retail, provide the latest trends in the field presented by Gartner, and offer tips and advice on how retailers can stay ahead of the curve in today's fast-paced retail landscape.
Why do retailers need Mendix for their Business?
As retailers navigate the ongoing disruption in the industry, staying ahead of the curve has never been more important. One way to achieve this is by leveraging technology to streamline operations and enhance customer experiences. Mendix, the low-code development platform, offers numerous benefits in this regard. So, why do retailers need Mendix applications for their business? Let's dive in and explore some of the key reasons.
Product Design: With Mendix, retailers can develop custom applications that streamline the product design process, from ideation to production. By automating processes and eliminating manual data entry, retailers can accelerate the time-to-market for new products, allowing them to stay ahead of trends and meet consumer demand more effectively.
Supply Chain Management: By providing real-time insights into inventory levels, orders, and shipments, retailers can optimize their supply chain operations, reduce waste, and improve customer satisfaction. Mendix's low-code platform makes it easy to build custom supply chain management applications that integrate with existing systems, allowing retailers to achieve end-to-end visibility across their entire supply chain.
Customer engagement: Customers nowadays expect seamless experiences while interacting with retailers through various channels. This necessitates the need for retailers to have access to real-time data throughout their value chain.
Efficiency Optimisation: Retailers can enhance their agility and adaptability to meet evolving market needs. With Mendix, retail companies can migrate away from mainframes, enhance core systems with new functionalities, or completely replace their legacy system. This ensures resilient and responsive in the face of changing market conditions.
After presenting the benefits of Mendix, let’s now explore the emerging trends in the retail industry's digital transformation. These trends highlight the ongoing shift towards innovative technologies and strategies that enable businesses to stay ahead in a highly competitive market. By staying informed about these trends, retailers can effectively leverage digital solutions to optimize their operations and deliver exceptional customer experiences.
Emerging trends in digital transformation for the retail industry
Gartner states that it is imperative to prioritize digital transformation to remain competitive in the long run. They described that the current state of the industry requires a comprehensive transformation rather than minor adjustments, even in creative departments such as merchandising.
Gartner identified key trends, including unified commerce, composability, in-store automation which all rely on digital transformation. Retailers are piloting new in-store technology, including automation, edge computing, and IoT, and updating legacy infrastructure and systems to support these changes. As a result, frontline sales associates have more management responsibility and become more accountable, while customers benefit from a more productive and elevated shopping experience.
Moreover, NRF 2023 showcased three major themes that are shaping the retail industry: partnerships, sustainability, and optimism. Vendors emphasized the importance of building a vetted and collaborative "best of breed" partner ecosystem to drive customer value. The topic of sustainability was discussed broadly, with retailers seeking streamlined technology solutions to provide transparency around ESG initiatives, while consumers demand visibility into the impacts of supply chains and operations. Despite the challenges brought about by the pandemic, supply chain crisis, and labor shortage, companies are prioritizing their strengths and looking to grow in the future.
Overall, CLEVR and Mendix's low-code development platform provides retailers with an agile approach to technology solutions, allowing them to respond quickly to changing business needs, lower costs, and achieve more with leaner teams. By leveraging Mendix in areas like product design, supply chain management, and inventory tracking, retailers can unlock new efficiencies, improve customer experiences, and stay ahead of the competition in today's challenging retail landscape.
Are you looking to embark on a digital transformation journey? Consider contacting CLEVR today. Our industry expertise combined with Mendix's low-code development platform can help you achieve your business goals efficiently and effectively. With the emerging trends in digital transformation and innovation for the retail sector, there's no time to waste. Start your journey now and stay ahead of the competition.