Retail Technology Ecosystem
Retail technology is overwhelming. For every process and application, there are infinite solutions, and choosing the right combination of technologies requires real expertise, especially as the continuing rise of e-commerce places pressure on physical retailers.
Customers expect a unique, engaging, and personal experience while retailers need to guide their customers through a product to push new habits and drive recurring conversions.
A productive retail technology ecosystem thrives on integration. All aspects of the network need to communicate effectively, from inventory management to payment processing systems.
Retail tech also needs to integrate with customer usage. An example of this would be using mobile app push notifications to alert customers to deals or events in-store, as well as improving email-open rates.
Retailers need to develop or implement technology that simplifies complex operations. Supply chain, sales, logistics, and prospects/clients all require a management system to stay organized, profitable, and ready to grow.
Customer loyalty requires further tech disruption. Implementing capable CRM software, as well as developing loyalty programs or mobile apps. Most retailers today are not leveraging data to it's fullest. Sound data strategy and collection tools allow businesses to better listen to their customers for relevant, actionable insights.
Distributor Technology Ecosystem
Distributors are in a tough place. The manufacturers are charging more, and the retailers are paying less. But, there remains much opportunity for distributors and wholesalers with the technology to keep up with industry demands.
Retailers are increasing their volumes and manufacturers are increasing their output. So even at a lower price per unit, an adequately optimized distributor can earn more.
To do so, they need to incorporate technologies to match the agility of manufacturer logistics and supply chain management as well as the inventory management solutions to manage higher volume, variation, and tighter deadlines for retailers. All of which is only possible through automation solutions.
A comprehensive tech ecosystem can also help protect distributors from disintermediation. The right technology allows them to offer what the manufacturers cannot. Distribution CRM builds and manages stronger relationships. While tools like VMI (Vendor Managed Inventory) give added value to retailers, automating reordering processes, so the product never goes out of stock.
The Torinit Solution
Torinit is the digital partner retailers, and distributors need to thrive online. The slow adoption of new technologies and business strategy in this industry has created a massive opportunity. Forward-thinking, technologically sound businesses provide greater consistency, completing orders 25% quicker, allowing them to take clients from their competitors.
We discover, develop, and implement the technology required for retail and distribution success:
- Supply Chain Management Software
- Inventory Management Software
- Mobile App Development
- Mobile Commerce
- Loss Prevention
- Payment Processing Systems