The proliferation of online shopping is shaping a new retail trajectory, with new channels, new business models such as direct-to-consumers (DTC) and subscription models, and partnerships that accelerate last-mile fulfillment. On the other hand, interactive store architecture, augmented reality, IoT and near-field communication (NFC) are transforming customer experience. While embracing all these changes, retailers have one success mantra - a firm grip on customer insights. They rely on cloud, a cornerstone for retail workloads, for resilience and performance at speed.
Retailers need to consider many factors in real time to arrive at assured levels of accuracy and execute strategic decisions in a complex, omnichannel environment. Moreover, they are under pressure to adapt to business models to participate and leverage cross-industry digital ecosystems to enable reimagined customer journeys. They have to re-focus on creating value through modern products and services, while adopting a proven infrastructure and operational framework that facilitate collaboration.
To meet such requirements, TCS’ services for retail and CPG enterprises include infrastructure migration to AWS cloud to overcome technical debt of legacy systems. AWS environments can be deployed in a serverless microservices model to manage the cloud estate. AWS has a robust data backbone of more than 10,000 data lakes, enabling enterprises to build unified data systems and AI and ML systems on AWS. Enterprises can consume higher quality recommendations, accurate forecasting, and leverage computer vision for merchandise and labor optimization, and checkouts.
TCS Algo Retail™ transforms enterprises, making them resilient, adaptable, nimble and algorithmic, by seamlessly orchestrating data and algorithms across the value chain, and reimagining processes with automation and intelligence. The real value is derived when these capabilities are used in combination with AI, IoT, blockchain and other emerging technologies to amplify and augment human ingenuity. TCS Algo Retail is creating a fundamental shift in how retailers do business by giving machines the first right of refusal to build automated, intelligent and autonomous enterprises, and create significant business impact.
TCS has developed several products and solutions that can be run in AWS compatible environments.
TCS OptumeraTM is an AI-powered retail optimization suite that enables retailers to make integrated merchandising and supply chain decisions in real-time. It continuously monitors thousands of customer, market and vendor behaviors, and also models scenarios and customer behavior to identify sales and margin opportunities.
TCS OmnistoreTM is a futuristic commerce platform that helps retailers orchestrate omnichannel customer journeys and provide a unified shopping experience of carts, wish lists, promotions and orders with contextual insights between online and store. It brings customers, products and associates together, empowering retailers to deliver memorable micro-experiences.
TCS OptuniqueTM is an AI-powered enterprise personalization solution that delivers unified and contextualized experiences across the omnichannel journey in real time. Powered by a decision science engine with a catalog of over 100 algorithms, it factors in long-term preferences against the current intent to deliver contextualized recommendations.
TCS’ Next Generation Intelligent Omnichannel Commerce (NiEOCOM) is a cloud-native, microservices-based, headless commerce platform with a pre-integrated, mobile-first, modern storefront UI.
Retail enterprises can gain three strategic outcomes by moving to AWS cloud:
Reduce infrastructure maintenance costs substantially
Gain insights to drive higher sales
Improve customer experience by harnessing the power of AI
- TCS partners with leading global retailers - nine of the top 10 global retailers are our clients.
- TCS has set up a Retail Research Center at Cornell Tech University that focusses on building solutions to solve critical business challenges faced by retailers using co-creation and co-innovation.
- TCS has several retail products on AWS such as OptumeraTM, OmnistoreTM, OptuniqueTM and NiEOCOM.