Industry
Retail
Omnichannel CX and Intelligent Innovation – The Future of Retail
Highlights
- TCS OmniStore was recognized at the Retail Systems Awards for delivering a seamless customer journey to shoppers across channels.
- The AI-powered composable commerce platform enables frictionless, personalized, and unified shopping experiences regardless of where, how, or when customers choose to engage with retailers.
- TCS OmniStore earned the recognition for unifying what can often be disparate parts of the overall shopping journey for customers.
In this article
Modernize commerce today, for tomorrow
TCS OmniStore™, an AI-powered unified commerce platform with composable architecture, enables retailers to ‘build for today and be ready for tomorrow.’
Retail Systems Awards (RSA), which celebrate excellence in the retail sector with a strong focus on technology innovation, has honored TCS OmniStore with the Omnichannel Technology of the Year 2022 award for delivering seamless omnichannel customer experiences across channels. The platform was recognized for enabling frictionless, personalized, and unified shopping experiences regardless of where, how, or when customers choose to engage with retailers.
Retailers using TCS OmniStore have experienced a 5-10% boost in sales with upselling, cross-selling, and real-time contextual personalization; a 50% reduction in the average checkout time with fast scans, optimized processes, real-time promotions, and quick receipt printing; and a 20-30% reduction in labor hours with seamless operations.
Retailers using TCS OmniStore have experienced a 5-10% boost in sales with upselling, cross-selling, and real-time contextual personalization; a 50% reduction in the average checkout time with fast scans, optimized processes, real-time promotions, and quick receipt printing; and a 20-30% reduction in labor hours with seamless operations.
What customers really want
Omnichannel experiences are table stakes today.
Given the rapid rate and intensity of change in the shopping landscape and the considerable impact of the pandemic on consumers’ shopping behavior over the past few years, one thing has become abundantly clear: omnichannel experiences are now table stakes.
Let’s say a customer is browsing on their favorite retailer’s online store. An item catches their eye, but the color or fit isn’t right. Fortunately, this customer knows they can find a brick-and-mortar store that sells the same or a similar item nearby.
But what if the customer could easily reserve it to try on the next time they’re in? Or order it in a different color or size directly from the store while they’re in the store or at home?
This looks like a journey a shopper would enjoy, but is such omnichannel optionality available to this customer?
Being in step with customer expectations
Retailers spend twice or three times their IT investments to cater to the requirements of multiple channels.
With multiple systems and datasets, and disparate processes across channels, it is often hard to deliver joined-up customer journeys, and making channels ‘talk’ to each other can prove to be an expensive affair for retailers.
Tata Consultancy Services identified several underlying aspects while solving this challenge, and its solution, TCS OmniStore, impressed the Retail Systems Awards 2022 judges.
Tata Consultancy Services began by identifying the common challenges among businesses and formulated a solution.
They found that 80% of business capabilities are common between digital and physical checkout platforms; as new channels emerge, retailers spend two or three times that of IT investments to address the channel needs; and channel systems are often maintained separately, resulting in a multiplier effect of application maintenance costs.
The resulting solution was TCS OmniStore.
Lay the foundation for unified commerce with TCS OmniStore
TCS OmniStore provides a unified, personalized, and an ‘always-on’ checkout experience for shoppers across all channels.
Built with the future in mind, TCS OmniStore is an AI-powered, composable commerce suite built on industry-best microservices principles and an API-first approach that provides a unified, personalized, and an ‘always-on’ checkout experience for shoppers across all channels.
The solution helps retailers create an omnichannel commerce experience, whether online or in-store, by providing a unique customer experience that aims to enhance brand loyalty.
It provides a unified experience of carts, wish lists, promotions, and orders, with connected context between online and store; brings customers, products, and associates together; and creates digital, experiential hubs with a single platform for offline and online. It is built on a build-once, deploy-many framework, has highly configurable options along with embedded personalization.
The judges crowned TCS OmniStore as the Omnichannel Technology Vendor of the Year, saying its results clearly demonstrated that there is a real opportunity here for helping retailers bring together previously challenging and siloed processes.
TCS OmniStore earned the recognition for unifying what can often be disparate parts of the overall shopping journey for customers.
For more information, read the press release.
TCS OmniStore richly earned its recognition at this year’s awards for unifying what can often be disparate parts of the overall shopping journey for customers.