Seizing new opportunities online
Historically, companies providing a product or service of great value are almost guaranteed to grow under one condition: they must value the customer. But transitioning into the digital space comes with a torrent of other considerations. Growth, though important, isn’t enough on its own. Profitable growth in e-commerce requires prioritizing four fundamentals.
1. Supply chain optimization: Flexibility across multiple interconnected channels enables the agility necessary for fulfilling new market needs.
2. Product selection, pricing, and promotion: Retailers can select the optimal inventory through comprehensive analysis and automated decision-making.
3. Customer acquisition/retention: Using data to drive new and repeat sales across different channels.
4. Engineering transformation: Adapt quickly as the world of e-commerce continues to evolve.
Transitioning to e-commerce
Legacy brands have built powerful and successful e-commerce platforms by adopting comprehensive strategies that adhere to these interconnected goals.
Several years ago, Carrefour, the French multinational company that operates big-box stores throughout the world, faced a common problem that traditional retailers have confronted: customers increasingly wanting to shop over the internet. Unfortunately, Carrefour did not have a strong online presence.
In just six months, Carrefour developed a new ecommerce platform that’s delivered tremendous growth and allows frequent enhancements--evolution is baked into its DNA. From day one, Carrefour had a cohesive and unified vision for its digital future and started to operate as an “enterprise startup.”
For over a century, Avon Products established itself as a leader in the cosmetics industry with its door-to-door beauty representatives and world-famous catalogue. However, Avon customers increasingly want to purchase makeup supplies online.
The beauty giant developed a mobile app that allows customers to flip through high-quality brochures featuring stylish models and inventory. But it also enables customers to contact their Avon representative any time of the day for beauty consultations and makeup recommendations. Avon saleswomen can track their sales goals and manage orders with the app.
Launching powerful platforms is only step one. Success during peak shopping periods require continued dedication to ensure everything flows smoothly.
Sudip Mazumder, senior vice president and North America head of integrated delivery for Publicis Sapient, said the business transformation partner supported around $1 billion in online revenue during Cyber Week for its top North American retail clients.
“Some of big box retail clients handled up to 55K orders/hour during peak hours without any issues,” he added.