“Retailers face new challenges in the way goods are marketed, bought, fulfilled, delivered, and sold in a highly competitive marketplace, but emerging technology innovations are ushering in new opportunities as well. Retailers can leverage technologies, such as cloud, AI, robotics, IoT, and VR/AR, to provide the shopping experiences that delight customers. The global health crisis has impacted retail in many ways, as we see the silver lining to speed up the digital transformation, with a massive shift to Online Retail. During 2020, the e-commerce business in the US grew as much in 5 months as it did in the previous 5 years. The traditional aproach between sectors is collapsing. Innovation in sectors such as payment systems, e-commerce , Industry 4.0 etc. is fundamentally disrupting businesses. Any disruptive approach in digital transformation for retail hence, needs to factor in a multi-disciplinary view of implementation with a mix of analytical and creative capabilities.
Understanding changing trends and unique customer preferences is key to the success of every retail business.
Improving customer experience at speed and scale remains a top priority and major driver of change. Consumer companies’ ability to leverage multiple monetization and payment methods enables real-time contextual customer journeys — a cornerstone of competitive differentiation. Still, many companies continue to endure outdated processes and lack proper systems to meet the needs of today’s business. Bramasol being a leader in Digital Solutions Economy has been an ideal solutions provider in these evolving times and support the industry to design, build and deliver a financial solution that is compliant with the new regulations ASC 606, 842, and 815.”