Retail - New Business Models

New Business Models

The convergence of the digital and physical space has changed how customers are engaging in transactions with retail businesses. Customers engaging with businesses using their virtual identities create a digital footprint that provides insight to a much broader and deeper range of consumer activities. This data, coupled with an integrated and automated technology environment, creates opportunities for businesses to engage customers in new ways.

How We Help

Prolifics has worked with many retailers on initiatives supporting new business models such as...

retail case study

Data-Driven Retail Giant

To address the anemic growth of its in-store sales, a large retail company created a data-driven customer view that facilitates customer profiling and omnichannel marketing segmentation.

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Prolifics' Capabilities

Retail as a Service >> 

Value is no longer derived primarily from the product—it comes from the experience the product provides....

Value is no longer derived primarily from the product—it comes from the experience the product provides. Retail as a Service is a strategy that capitalizes on the digital sphere to offer top-shelf experiences that are simple and unified, and leading retailers are realizing its benefits. To create the new business models that the industry demands, enterprises must find new ways to use technology to generate and discover value.

One example of retail as a service is the mitigation of the budget burden of costly equipment by leasing products as they’re needed. Prolifics can help businesses create solutions that enable customers to lease products in new ways. Large equipment like construction tools and cars can be leased by time slot. Technology like cell phones or televisions can be leased for easier upgrading when the model becomes obsolete.

Prolifics' expertise in related domains makes us the right partner for enabling retail as service in your business. Our experts can re-engineer your processes, optimize rules, enable automation, and institute APIs and mobile solutions to simplify and add value to your business’s experiences.

Personalization >> 

When the shopping experience is tailored to the individual, you enable the customer to create their own product...

When the shopping experience is tailored to the individual, you enable the customer to create their own product, build their own value, and connect with a brand in deeply personal ways. Harnessing big data informs customer preferences and allows you to offer the choices that are in demand.

Let Prolifics assist your organization in personalizing both your merchandise and your consumer experiences. With product customization capabilities, businesses can capitalize on rapidly shifting trends to stand out in a crowded retail environment. Personalized shopping experiences are typified by identifying a customer’s needs and wants, delivering targeted offers that are more likely to resonate. Both instances promote customer loyalty by catering to what they truly want and differentiating the enterprise from the competition.

Prolifics accomplishes this level of personalization by taking advantage of API integration, mobile engagement, and Cognitive-powered chatbots that create the illusion of a human-to-human experience.

Consumer-to-Consumer >> 

Technology lets customers connect like never before to offer products, services, and experiences that add value...

Technology lets customers connect like never before to offer products, services, and experiences that add value to your brand. This drives customer engagement in new and highly profitable ways. Understanding how customers use and propagate your product after its purchase lets you target your customer base for follow-up sales and gain control over the entire lifecycle of the product.

Rather than relying solely on retailers to buy products, customers can take advantage of artisans’ virtual storefronts. Prolifics can help your business identify opportunities when it comes to consumer-to-consumer sales and capitalize on them to unlock new lines of income.

Prolifics’ mastery of API and mobile engagement, rules optimization, and DevOps-based development can help you make the most of new lines of consumer-to-consumer business.

Consumer Insights >> 

By gaining insight into their consumers’ wants and buying habits, businesses can answer their demands...

By gaining insight into their consumers’ wants and buying habits, businesses can answer their demands for simple, direct shopping experiences. However, meeting this standard requires businesses to increase efficiency and find ways to cut costs.

With Prolifics on their side, businesses can tailor analytics to the shopping history of their customers, predictively offering new product options as they shop in-store or online. Retailers can use information on demographics, buying habits, and more to provide real-time customization that keep customers coming back.

Prolifics’ experts understand how to construct the right analytics and predictive models while managing data quality. This ensures that the results are consistently clean and fit for purpose.

Interaction with Shopping Aggregators >> 

Customers are interacting with products and companies in unprecedented ways. Smart home devices hear...

Customers are interacting with products and companies in unprecedented ways. Smart home devices hear what people say and respond—whether it’s turning off the lights or ordering a product. These devices elevate retail engagement to the point where it is only a voice command away. Enterprises can use new advances in analytics and intelligent computing to better understand their customer bases, derive patterns from engagement, and predict the next need or trend.

Prolifics can help you harness smart devices can enhance customers’ lives by simplifying the buying process. They understand the user’s needs, habits, and schedule. These devices harvest crucial analytics insights that can be leveraged to fuel other emerging business models.

By leveraging cloud platform optimization along with the intelligence of Cognitive computing, Prolifics can help you develop cutting-edge analytics that maintains a thorough understanding of your customers and their habits.

Instant Gratification >>

Quick fulfillment cycles and product replenishment have become the standard. Customers want ever more...

Quick fulfillment cycles and product replenishment have become the standard. Customers want ever more information about products, businesses and transactions. Mobile platforms and APIs enable them to monitor every step of the purchase process and build up the relationship between customer and brand—which is becoming increasingly critical to the success of the business. By maintaining a close relationship with the consumer, the buyer’s journey can be further augmented by fast-moving offers that capitalize on impulses and stay ahead of key trends.

Simply knowing that a product will arrive in a couple of days is no longer acceptable. Prolifics can refine your supply chain visibility to offer customers the ability to look into all the details of an order, including its production status, shipping status, and exact position as it ships to the destination. These insights are no longer extraneous—they have become expected. The same holds true for service offerings. Consumers demand that services are rendered immediately available on demand to fit their lifestyles.

With our expertise in APIsmobile engagement, Cognitive analyticsrules optimization, and DevOps, Prolifics assists in expanding your engagement with your customers to provide the instant gratification that has become so important to the buyer’s journey.

Technology Makes it Possible

Prolifics' expertise across multiple specialties enables us to create unique, comprehensive solutions for your innovative new business models. Technologies we typically leverage for these types of initiatives include: