Kohls has launched five new omnichannel and digital initiatives. Find out what improvements have been made...
Kohl’s has been increasingly focused on omnichannel retailing in the past year, beyond introducing initial buy online pickup in store functionality in May. Earlier this month, Kohl’s announced a slew of special omnichannel holiday shopping features. Kohl’s also was among the first retailers to offer an Apple Watch app in April. In January, the retailer unveiled its “Greatness Agenda,” a broad effort to maximize omnichannel customer engagement that is based on an Oracle Retail platform.
The dawn of cloud-based retail as a service (RaaS) platforms, such as Oracle's new suite of Oracle Retail cloud services, enables retailers to use the cloud to manage everything from inventory and e-commerce to customer engagement and order fulfillment.
... As the world of retailing becomes more complex, simplified integration, improved agility and faster innovation become ever more valuable qualities. Cloud solutions’ ability to remove complexity from IT — and from retail business operations in general — are key parts of that value equation and ease implementation timelines as retailers scramble to drive maximum performance during the upcoming holiday season.
We spoke to various industry experts who revealed their top predictions for the future of retail including Oracle, IBM, Retail Wire ...
...David Dorf / Oracle: Retail will change in many ways, but immediacy will have the biggest impact. Our homes will replenish themselves; our packages will arrive hours after the order; retailers will bid on the right to sell us products in real time; our in-home printers will produce products as we watch. These are examples of consumers having immediate access to the products they want. The technologies to support these scenarios already exist, so we’re not waiting on anything new to be invented. All of these scenarios are already a reality in small, independent deployments. It’s only a matter of time before retailers evolve their business models to fully embrace this notion of immediacy. That’s not to say traditional channels will cease to exist. Physical and digital retail won’t fade away, nor will the importance of good customer service. But massive improvements achieved in forecasting, sourcing, and moving products will radically change the landscape in which we trade. Obviously no one will wake up tomorrow to this new reality. It will emerge slowly over many years, but we can already see evidence of the coming changes. Every retailer needs to think in these terms, and make sure each investment moves them closer to the goal.
Adidas turns to a new Oracle data collection system to pinpoint problems and reduce shrinkage.
...In the end, Oracle Micros provided the best overall solution. “They had the highest degree of knowledge, they were very experienced and we were already using their Store 21 as our POS system,” he says. “They were a really good fit.”
Not only that, but Micros managed to find a live internal theft case buried in the test data it had been given.
“They were the only vendor that identified this,” he says. “Before we even actually implemented the system, we had investigated a case and taken out an employee who had committed [$220,000] worth of fraud against us in the preceding 12 months. It was quite impressive.”
Still time to update e-commerce systems before the holidays - The advent of cloud-based solutions make it possible to overhaul an e-commerce platform in as few as 10 weeks.
Hot Applications For SaaS In Retail
Oracle's David Dorf agrees that the agility of data access and analysis afforded by the cloud is fueling its adoption. Leveraging SaaS-based analytics tools, he says, allows retail tech shops to move away from mundane IT tasks and refocus their efforts on real retail work. "SaaS lightens the load on IT by removing the burdens associated with backups, audits, upgrades, and security management. Business insight afforded by SaaS-based analytics tools affords retailers a really good understanding of the data they already have," says Dorf. "As we add more analytics capabilities via the cloud, we can grant that access more quickly via automatic upgrades, which dramatically reduces the retailer's time to value." Because these tools are offered in a pay-only- for-what-you-use style fashioned after the utilities model, retailers can strategically and incrementally build on their data analytics initiatives at their own pace. "Retailers have been sitting on a lot of Big Data for a long time. SaaS-based analytics applies 'Big Science' to that Big Data, allowing merchants to finally extract value from it," says Dorf.
Since replacing its home-grown e-commerce software in 2011 with Oracle Corp.’s Oracle Commerce software, National Pen has grown e-commerce sales by about 20% per year, CEO Dave Thompson says. As a result, e-commerce now accounts for 20% of total revenue, or $54 million out of $270 million this year, he notes.
Women’s contemporary jewelry and accessory retailer Charming Charlie, known for carrying a wide array of accessible fashion accessories merchandised by color, has met widespread consumer demand with aggressive growth and a timely upgrade to Oracle Retail Merchandising solutions that supports both its immediate needs and its international expansion plans.
Following the implementation of a new e-Commerce solution from Oracle, National Pen has seen its loyalty and retention rates rise significantly; and e-Commerce average order size is now 20% larger than the company's traditional direct mail orders. National Pen, a 60-year-old company, supplies personalized, branded products to more than 1.2 million customers in 27 countries.
Returns are a fact of retailing and merchants have to be ready to deal with them. For instance, Stage’s Oracle Corp. merchandising system allows the retailer to route online returns to either a distribution center if an item is still in season and salable or, if it isn’t, to one of four clearance centers the chain maintains.
During the holiday season, Hunter sets up special arrangements with makers of traditional holiday gifts, such as heated ice scrapers and other small items that might be featured in a Black Friday display, to have those products returned directly to the manufacturers or to have them shipped back in bulk from the stores’ returned goods center in Jacksonville, Texas. Some vendors also agree to take back unsold products.
Neiman Marcus generates more than a quarter of revenue online so far this year - In its IPO filing, the luxury retailer says it plans to invest more in mobile. “We are able to associate substantially all browsing behavior on our digital platforms with unique individuals,” the company states in the filing. “By aggregating this data and employing advanced analytics, we are able to generate a single view of these customers' engagement with our brands. We utilize this data to enhance the interactions with our customers when they are in our stores and personalize the presentation of merchandise to our customers when they shop online.”
Neiman Marcus uses Bloomreach, Oracle, Rapleaf, RichRelevance, WibiData and in-house services for personalization, according to Top500Guide.com.
Women's contemporary jewelry and accessory retailer Charming Charlie has met consumer demand with a timely technology upgrade that supports both its immediate needs and its international expansion plans.
Charming Charlie, fashion retailer for women, has upgraded to Oracle Retail Merchandising solutions to support expansion plans.
Oracle Retail's Merchandising Solutions Bring World-Class Capabilities to Charming Charlie
Charming Charlie, known for carrying a wide array of accessible fashion accessories merchandised by color, has met widespread consumer demand with aggressive growth and a timely upgrade to Oracle Retail Merchandising solutions that supports both its immediate needs and its international expansion plans.
Charming Charlie, a women's contemporary jewellery and accessory retailer, has met widespread consumer demand with aggressive growth, following timely upgrade to Oracle Retail Merchandising solutions.
Over a 13-month period beginning in late 2013, Charming Charlie implemented several Oracle solutions including its Merchandising System, Retail Trade Management, Price Management, Invoice Match and Store Inventory Management.
Survey: Amping up tech spending - Internet Retailer exclusive survey results find that in the next year most online retailers will spend more on technology, with many focusing on applications that will help them acquire customers and please mobile shoppers