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Accelerate the digital transformation of the fast-moving retail industry

 

Featured Solutions for the Consumer Goods Industry

 

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The retail industry refers to commodity circulation enterprises that purchase goods from industrial and agricultural producers, wholesale trade or residents, and resell them to urban and rural residents for daily consumption and to social groups for public consumption.

Characteristics of the FMCG retail industry

The main characteristics of the business in the retail and fast-moving consumer goods industries: transaction volume is sporadic and random, the number of transactions is frequent, the single transaction volume is small, and the number of untransacted transactions accounts for a large proportion. Therefore, it is necessary to have sufficient stocks, rich varieties, and complete designs, colors, and specifications to meet consumer needs.

First of all, because the transaction objects of the retail and fast-moving consumer goods industries are final consumers who purchase goods for direct consumption, including individual consumers and group consumers, the transaction volume of retail trade is sporadic and scattered.

Secondly, the subject matter of retail and fast-moving consumer trade includes not only goods but also services, that is, various services must be provided to customers, such as delivery, installation, maintenance, etc. As market competition intensifies, pre-sales, in-sales and after-sales services provided by retail have become important means or areas of competition.

Third, retail and fast-moving consumer goods trade are greatly affected by consumer purchasing behavior. The target of retail and fast-moving consumer goods trade is the final consumer. Most consumers are unplanned, impulsive or emotional when purchasing goods. Faced with consumers with obvious random purchasing behavior, retailers must pay special attention to stimulating consumers' purchasing desire and demand interest in order to achieve the purpose of expanding sales. They must have their own business characteristics to attract customers and stock up. Sufficient, the varieties should be rich, and the colors and specifications should be complete.

Fourth, retail and fast-moving consumer goods trade are mostly conducted in stores, with outlets of varying sizes and wide distribution. Due to the extensiveness, dispersion, diversity, and complexity of consumers, in order to meet the needs of consumers, it is simply not enough to rely on only a few retail points in a region. Retail outlets must be based on meeting the needs of consumers in terms of scale and layout, and adapt to consumers' shopping, sightseeing, browsing, leisure and other needs.

Fifth, retail and FMCG trade must rely on turnover speed to win. The amount of each retail transaction is small, so we must focus on increasing the transaction rate, increasing the turnover speed of trade capital, making the turnover of trade capital faster and more efficient at the same time as possible, achieving small profits but quick turnover, and buying and selling quickly.

Finally, the demand for informatization in the retail and fast-moving consumer goods industries is a very complex comprehensive system, including offline sales terminals (POS), online retail terminals (B2C), retail solutions (Retail), and customer relationship management (CRM). , supplier relationship management (SRM), three-dimensional warehouse management (WMS), mobile applications (Mobility), big data analysis (BI) and other information components in different aspects.

Overview of solutions for retail and FMCG industries

Now is an era when consumption calls for everything. They need high-quality services, a wide range of choices, and are gradually paying more attention to the value of goods. Coupled with the popularity of the Internet, consumers have a deeper understanding of their choices and wishes than ever before. This means that retailers must regard consumers as the center of traditional retail and fast-moving consumer goods supply chains, and require a new integration solution that is more powerful than any previous solution.

First of all, forecasting, planning, allocation and replenishment must be based on customer needs, demand patterns and demand times.

Secondly, use multifunctional e-commerce to cooperate with suppliers, communicate closely with customers, and provide quality services through multiple sales channels and tailored marketing to ensure customer loyalty.

Smart inventory control that operates based on customer needs helps consumers gain access to a wide range of choices, and retailers must provide a shopping experience that increases customers' long-term loyalty and makes them come back again and again.

Use powerful data mining tools to provide in-depth information for reports and customer profiles, providing a complete view of the entire operation of the enterprise from start to finish, and improving the enterprise's consumer insights.