As fashion apparel brands and retailers work to create compelling in-store experiences to lure shoppers — especially as brick-and-mortar stores shift in relevance — technology companies have devised new ways to help.
Enter Oracle Retail’s latest inventory cloud service, which aims to help businesses “more easily track, access and manage inventory” while in-store. The end goal, according to a spokesman for Oracle, is enhanced customer satisfaction. And in today’s Millennial-driven shopping landscape, where instant gratification is key, this focus on a boosted consumer experience may prove to be indispensable.
“Having the right item in the desired size and color is often the difference between a sale and a disappointed customer, but with merchandise spread between dozens or even hundreds of stores and online inventory in warehouses, this can be akin to finding a needle in a haystack,” said Jeff Warren, vice president of Oracle Retail. “As retailers’ inventories grow more complex, finding that elusive item can be time-consuming for store associates and frustrating for customers.”
The firm’s features offer what the spokesman called a “store up” approach, described as “[providing] the ability to have visibility into inventory at a detailed level within the store, combined with a view of warehouse inventory, [which] enables stores to influence inventory sell-through by requesting it directly from the warehouse.”
According to Warren, brands and retailers who aspire to distinguish themselves in today’s crowded marketplace would be wise to take note.
“Streamlining inventory management with a ‘store up’ approach makes it faster and simpler to find the right shirt or dress, and also helps retailers sell through offsite inventory,” Warren said.
The launch comes as a part of a growing business trend in retail, focused on the reimagining of the retail environment due to evolving — and increasingly difficult-to-meet — consumer expectations.
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