The essence of the retail industry is direct contact with the end customer and meeting their shopping needs. Increasingly, in addition to the sellers themselves, it also includes other entities focusing on providing various services (e.g. related to payments, order processing or delivery), thanks to which the market is becoming more competitive and attractive to the customers themselves. The industry is a key link between producers and consumers. In offline and online retail stores, customers have direct contact with products and can buy them.
The retail industry is very diverse. Examples of retail-related businesses best demonstrate the scale of complexity. Here are some of them:
- large-format stores such as popular hypermarkets, supermarkets and discount stores
- specialist stores: sports, fashion, electronics, bookstores, drug shops
- convenience stores – small stores with basic products, often also offering meals
- e-commerce – includes various types of online stores and shopping platforms
- mobile devices
- vending machines
Technology is increasingly shaping the retail industry. E-commerce and shopping via mobile devices have become integral parts of many retailers’ strategies. Technology also affects payment methods. Contactless and mobile payments, as well as systems such as BLIK, are becoming increasingly popular.
The retail industry must incorporate advanced analytics into its market strategy. This will allow for a better understanding of consumer behaviour, tailoring offers to customers’ preferences, creating an even more personalised strategy, and improving marketing activities.
To be successful in retail, you need to understand consumer behaviour. Your audience is demanding, aware, and has access to vast amounts of information. They expect a consistent shopping experience regardless of the sales channel. They want to start the shopping process in one channel (online) and finish it in another (in a store).
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- Personalised email, SMS, and social media campaigns.
- AI analytics of customer behaviour and delivery of targeted promotions.
- Enables automated customer engagement and creates lasting loyalty.
Pro Tip: Marketing Cloud enables hyper-personalised campaigns based on real-time data.
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- Create seamless shopping experiences.
- AI-driven product recommendations, personalisation, and omnichannel commerce.
- Automate dynamic offers for each customer in real-time across each moment in the customer journey.
- Order management and inventory tracking.
Pro tip: Commerce Cloud enables retailers to create unified digital shopping experiences.
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- A full-fledged, dedicated loyalty management system designed to create, manage, and analyse complex loyalty programs with tiers, points, promotions, and rewards.
- Einstein AI predicts customer behaviour and optimises rewards.
- Works across in-store, online, and mobile platforms to track customer engagement.
Pro Tip: Retailers using AI and automation see faster adaptation to market trends and customer needs.
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- Improved field execution, merchandising, and retailer relationships.
- Optimised field rep scheduling and store visits.
- Tracking in-store conditions like stock levels, promotions, and competitor activity.
- Real-time inventory visibility to avoid stockouts.
- Einstein AI suggests the best promotions based on sales trends.
Pro Tip: Sales Cloud helps optimise sales, and Consumer Goods Cloud helps optimise distribution strategies by providing real-time insights into store performance, inventory, and customer demand.
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- Customer service with AI-powered chatbots and self-service options.
- Management of returns, warranties, and post-purchase support.
Pro Tip: Salesforce Service Cloud enhances customer service by providing a 360-degree view of customers, enabling support teams to deliver personalised, efficient service across multiple channels.
The retail landscape is changing, and success depends on customer experience, technology adoption, and data-driven strategies. Retailers must embrace technology because digital transformation is essential for retail success. Retailers that embrace technology experience:
- Higher conversion rates with AI-driven product recommendations.
- Stronger brand loyalty with personalised marketing and rewards programs.
- Optimised inventory management, reducing waste and improving supply chain efficiency.
- Enhanced customer experiences across all shopping channels.
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