It is to be noted that before the Covid times, the retail industry was gaining momentum and worked very well. To go online was not a necessity. After Covid and its repercussions on the market, a lot of shops and establishments were forced to close down. On the contrary, customer demand has increased along with a change in customer behaviour. Those retailers with physical stores were finding it difficult to manage all the lock-downs and social distancing whereas the stores that had a presence online or those that changed to the online mode were finding the times much more manageable.
With the rise of e-commerce, digital marketplaces, and social media, the shopping experience has changed. Today’s consumers want to feel connected with brands while shopping so they can get product information, recommendations, and deals in one place. In response to these changes, retailers must modernize their in-store and online operations to remain relevant and capture the demand for frictionless e-commerce experiences.
It is to leverage the change in the retail market and the customer attitude to shopping that Salesforce has stepped forward with its versatile Commerce Cloud exclusively for the retail industry. What is Salesforce Commerce Cloud?
Let us have a glance at what is meant by Salesforce Commerce Cloud. Salesforce Commerce Cloud is a cloud-based software that is aimed at providing the best e-commerce solutions at one go. The platform revolutionizes how retailers manage inventory across channels and optimize supply chains while meeting and exceeding customer interactions. The platform extends the finest B2B and B2C facility for retailers. It is a unified software that runs on a single server and caters to multiple customers in real-time.
We can now, explore the most salient of 8 ways that Salesforce Commerce Cloud could be a game-changing solution for a successful retail business.
1. Track and Manage Products at Every Stage
At every stage of the retail cycle, from planning and forecasting to product management and fulfilment, retailers use Salesforce Commerce Cloud to track and manage products. This solution provides real-time visibility into inventory levels, demand forecasts, and order statuses. It also enables organizations to track products from supplier to store shelves, and from there to consumers’ homes. With product data integrated into your sales, service, and marketing platforms, you can improve customer experiences across channels. Retailers can also use Salesforce to track assets such as store fixtures, fixtures, and equipment to identify maintenance requirements and drive operational efficiencies.
2. Unified Customer Experience
Retailers can leverage Salesforce Commerce Cloud to offer a unified customer experience across channels, including web, mobile apps, social media, and stores. To be successful, you must provide the same level of service and experience across channels regardless of where consumers interact with your brand. With a single view of customer information, retailers can deliver personalized recommendations, communications, and offers. You can also use this solution to organize customer data and engage with them in real-time. The solution also integrates with store systems, such as point-of-sale (POS) and inventory management systems, to send push notifications to customers when their orders are ready for pickup.
3. Improved Inventory Management
Inventory management is a crucial component of retail. Retailers can use Salesforce Commerce Cloud to track inventory levels in real-time and forecast demand to optimize supply chain management. For example, if there are two products in the online shop and the demand for one of them is higher, retailers can divert products from the other product to meet customer needs. With Salesforce, retailers can integrate with third-party warehouse management systems to create more accurate forecasts and manage inventory levels.
4. Enhanced Omnichannel Strategies
With a single view of your customer data, you can use that data to create targeted marketing campaigns. For example, if a customer bought a smartphone, an earbud, and a charging cable, you can send push notifications to recommend a case. You can also use these insights to create cross-selling and upselling strategies to increase average order values. By leveraging the data you have across channels, you can further personalize the customer experience. For example, if a customer views headphones on your website, you can show that product on your store’s POS system and suggest it as a cross-sell item.
5. Smarter Supply Chain Management
Retailers can use Salesforce Commerce Cloud to ensure that their supply chains are optimized for demand and margin. The solution includes intelligent forecasting, inventory optimization, and replenishment services to improve supply chain management. By using advanced algorithms to forecast demand and analyze historical data, retailers can use Salesforce to optimize inventory levels. The solution can access data from your store systems, like POS and inventory management systems, to optimize inventory levels. For example, if a product’s demand is lower than expected and there is an inventory shortage, the solution can suggest replenishment options.
6. Continuous innovation
The Customer Cloud platform undergoes continuous upgrades and feature incorporation in the background. The result is that it helps businesses to replicate continuous innovation while delivering unique digital experiences. This type of collaboration ensures the smooth functioning of the platform.
7. Enriching mobile experience
Today, most people find working and shopping on a mobile device more convenient. This means the necessity for a mobile-friendly retail business is of much importance for any retailer. Salesforce Commerce Cloud helps deliver a mobile-first experience to the customer helping keep them connected and satisfied round the clock.
8. Automated analysis
The introduction of systems like Einstein AI in the Salesforce platform gives access to the next generation of Artificial Intelligence. The result is that the dependence on third-party extensions and any sort of manual data analysis is not required. Making the whole process of analysis and adaptation faster and more competent.
Get the gist
Retailers can use Salesforce Commerce Cloud to revolutionize their business and compete in the omnichannel landscape. The solution allows you to track and manage products, create a unified customer experience, and optimize supply chain management.
Ready to transform your retail business? Then look for the right Salesforce Implementation Services that will ultimately help you increase customer retention rate and make the company cash registers ring more.
Virtuenix is a Salesforce Silver Consulting Partner and counted among one of the most preferred Salesforce services companies that focuses on high-quality and scalable solutions for your retail business. Check out virtuenix.com for more on this.