Going Beyond Unified Commerce
Necessity is the mother of invention. The pandemic shook retailers out of their complacency and propelled them to innovate. Several multi-year transformations and innovations like curbside pickup, scan and pay, and appointment-based shopping were introduced in record time. Past years investments in modernizing commerce platforms have paid-off in delivering safe and contactless shopping experiences. However, e-commerce sites were choked beyond capacity, with prolonged wait times for entering online sites and obtaining delivery slots. COVID-19 provided a wake-up call for retailers to break away from the shackles of a retail POS and pivot towards a unified commerce strategy for delivering a seamless omnichannel retail experience. Further, the rise of newer channels, subscriptions and rentals, and emerging payment types are driving the need for a future commerce strategy that goes beyond channel integration.
This paper discusses the seven dictums for getting the commerce strategy right.