In the pandemic economy, traditional markers of normalcy are in constant flux. Businesses have been navigating this ever-changing environment with impressive speed and agility. Some have even thrived.
We should expect more change, experts say, as segments of the economy begin to reopen. The IMF now estimates the global economy will expand six percent in 2021, lifted by optimism over vaccine rollouts and renewed economic investment in key regions. If this forecast bears out, it will be the fastest economic expansion in four decades.
Retailers Look to Digital Transformation
Many businesses now operate very differently from how they did one year ago. This is especially true for the retail industry, where businesses have had to adapt swiftly to meet consumer demands for online sales and services as the pandemic kept consumers home. Speed and agility soon became the watchwords for retailers hoping to entice consumer spending in e-commerce marketplaces and differentiate themselves in an overcrowded space.
As shops reopen, retailers are once again pivoting to meet consumer expectations that merge in-store and online shopping into a seamless, omnichannel experience. Savvy retailers have discovered that digital transformation is the key to providing a superior consumer experience that leads to increased brand loyalty.
SAP Partners Talk Shop in New Podcast
In a premiere SAP Partner Podcast, Meaghan Sullivan, head of Global Partner and Midmarket Marketing, SAP, talks with Larry Walsh, CEO, chief analyst, and founder at Channelnomics, about how SAP partners are leveraging technology to help businesses adapt and evolve. Walsh, a reputable advisor on channel strategies and technology markets, provides an industry analysis of trends shaping partner business development, including opportunities for new business models and offerings.
Joining them are SAP partners Velou and Applexus Technologies to share insights about the specific challenges facing retailers and to talk about how RISE with SAP – business transformation as a service – is simplifying customers’ move to the cloud.
Omnichannel shopping is the way of the future. When a leading grocer needed an integrated solution for its pharmacy online vaccine scheduling software, it turned to Applexus Technologies, an SAP partner specialized in solutions for the retail, fashion, life sciences, consumer goods, and manufacturing industries. Chris Couch, vice president SAP Solutions at Applexus Technologies, describes how they are using SimpleRetail in combination with SAP S/4 HANA in the cloud to provide data integration and a 360-degree view of the customer throughout their vaccination journey.
Major shifts online have also led to higher consumer expectations for superior e-commerce experiences, according to Sadee Gamhewa, co-founder and CEO at Velou, an SAP partner using data science, machine learning, and artificial intelligence (AI) to drive product discovery. Consumers can thus readily identify new brands and relevant products. Advanced digital technologies are enabling SAP partners like Velou to create amazing consumer experiences, making it easier for e-commerce retailers to stand out in a crowded marketplace.
To find out how SAP partners are creating opportunity for businesses to gain advantage in the economic recovery, listen to the podcast here.
Tags: Retail, RISE with SAP, SAP Partner Podcast