Technology Record - Issue 27: Winter 2022

174 V I EWPO I NT “With the growing relevance of omnichannel in retail, it is becoming essential for all departments to work collaboratively” Three-lever approach to reinvent retail RAHU L KUMAR AND RAV I SHARMA : I NFOS Y S Infosys leverages Microsoft Dynamics 365 to design solutions that deliver an improved in-store experience, build customer loyalty and develop robust operations Over the past few years, we have seen an increasing degree of sophistication in retail industry business operations. There is a constant need to reinvent, particularly following the recent, tumultuous changes in the paradigm of modern business. We live in a world where if you aren’t moving fast enough, you are spiralling into a vortex of obsolescence. Infosys is helping customers with solutions and offerings on Microsoft Dynamics 365 and the Power Platform that aim to improve the in-store experience, build customer loyalty, and develop robust operations. Improving the in-store experience Physical stores will stay relevant and become more strategic for retail organisations even if they are no longer managed as points of sale. Stores are the most effective tool to acquire and engage customers, and key to this is the engagement of store associates. Store associates are the essence of an organisation’s brand, so empowering them with product trainings and access to information will enhance the customer experience. They must also have visibility of store traffic metrics to assist with shift planning. The Infosys REF-OR-M Smart Retail solution is designed to equip every employee from in-store assistants to store managers, helping them to deliver a best-in-class experience for customers efficiently and quickly. The solution comprises a set of connected operational applications to bring a digital experience to customers and employees. The store associate mobile application can provide employees with product information, training and key performance indicator tracking. They can also receive customer appointment notifications and access an FAQ chatbot. Smart Retail helps store staff connect with their customers by understanding their needs better and fulfilling their requests. It is also a great tool for cross-selling and upselling. Building customer experience Building customer loyalty is another challenge and the second key lever for Infosys. Today’s retailers assign massive importance to loyalty programmes because repeat customers tend to spend more than newly acquired ones, and the cost of retention could be five times cheaper than acquisition. But loyalty is a rare commodity; most customers sign up for multiple loyalty programmes, which poses a challenge for retailers to offer attractive reward programmes to win them over. The Infosys REF-OR-M Loyalty Edge solution aims to nurture relationships towards bridging potential loyalty gaps. The solution helps deliver a holistic customer experience leveraging key components like member management, loyalty programme planning, tier management,