Highlights:

  • Salsify has released a new research, Breaking Down Barriers to Winning Commerce, to assist brands and retailers.
  •  “In today’s world of infinite shelf space and consumer-driven search, legacy technologies, and processes built for a slow physical shelf with limited assortments must be upgraded,” said Rob Gonzalez.

Salsify, the Commerce Experience Management (CommerceXM) platform enabling distributors, brand manufacturers, and retailers to triumph on the digital shelf, has released new research, Breaking Down Barriers to Winning Commerce, to assist brands and retailers understand and address the bottlenecks that prevent them from providing omnichannel shopping experiences expected by customers.

Until lately, brands and retailers have been following established roles where brands ran campaigns to raise awareness, generate foot traffic to retail stores. Retailers, on the other hand, controlled the real estate, customer relationship, and experience.

Brands must now function like retailers, manage merchandising strategy, manage Customer Relationship Management (CRM), and frequently operate direct-to-consumer channels. Simultaneously, merchants are acting like brand makers with the rise of private-label products and third-party selling.

Breaking Down Barriers to Winning Commerce assists retailers, and brands navigate this major shift where customers decide how, when, and where to make purchases. As per a recent survey, 46% of retail buyers in the US abandoned both online and in-store purchases if they can’t discover the information about the product they need.

Breaking Down Barriers to Winning Commerce focuses on addressing a new set of challenges that merchants and brands confront, such as:

  • The intricacy of a customer journey: Shopping can be done in almost every location. Essentially there’s no limit to competition and product selection. The shopper’s path isn’t a straight one.
  • The thin line between brands and retailers has become hazy: Organizations and commercial relationships formed on the foundation of traditional roles are now figuring out how to function.
  • Guarded gardens: Manufacturers and retailers can no longer afford to pay fees to intermediaries that do not offer value and cause time-to-market delays.
  • Organizational and technical silos at brands: E-commerce budgets are often small and do not account for influence, whereas trade budgets are created without any regard for broad reach. In addition, systems for market-facing product details and channel inventory management are often unconnected.
  • IT is burdened with data problems of retailers: IT departments are under pressure to serve different data streams and troubleshoot product-related demands.
  • POS channels are siloed at retailers: Every sales channel of a retailer has its own promotional budget, sales target, and product assortment priorities.

Expert’s view

“In today’s world of infinite shelf space and consumer-driven search, legacy technologies and processes built for a slow physical shelf with limited assortments must be upgraded,” said Rob Gonzalez, co-founder, and CMO at Salsify. “Brands and retails both win by removing friction across the supply chain, reducing time to market, and enabling cross-functional and now cross-supply chain collaboration at scale.”