January 8, 2018 | Written by: Peter Wharton
Categorized: eCommerce & Merchandising
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If you are like most retailers, you worry about the competition and it probably keeps you awake at night. You know that the key to success is innovation and you even know what you want to do to change the customer experience — but, without the right platform and tools, you suddenly find yourself relying on help from IT or data analysts/scientists.
Is your commerce platform slowing you down? Does it get in the way of rapid implementation of new ideas or capabilities? Are you in an endless “wait for project delivery” cycle that forces you to choose which new capabilities that will drive revenue you can actually bring to your site?
Modern Commerce is a Battlefield and Only the Most Agile are Going to Survive
How many times have you missed an opportunity? If only you had better insights on what was happening with your customers or what was going to happen in the market to drive better performance. How many times have you made the wrong decision because you didn’t have a real-time view of easily understood data from social, suppliers, inventory, pricing or weather trends? And the amount of data influencing conversions and sales continues to increase. With the right insights and recommended actions, you could be looking at a completely different level of performance from your online store.
These are all signs that your commerce platform is slowing you down. As the commerce landscape continues to accelerate, are you in a good position to grow market share? IBM clients like Yoox Net-A-Porter are driving retail success using artificial intelligence (AI) in their daily operations.
Three Key Capabilities to Look for in a Commerce Platform
Right now is the time to take the offense with a platform that helps you deliver the best customer experience innovations across the complete customer journey. IBM believes that three key capabilities are essential for commerce success because they help you deliver on the promise of innovation:
- A Modern Architecture that is more flexible to manage the business models you need to drive revenue growth and more agile to enable quick responses to opportunities in the market — all while using fewer resources to make innovation happen.
- Unmatched Capabilities that offer the completeness and depth of capabilities for omnichannel. Every retailer understands the desire to have a seamless experience regardless of where the customer starts or ends their purchasing journey. As many are finding out, this harmonized capability is extremely difficult to do well or to do profitably when systems are not designed to work together.
- Artificial Intelligence designed specifically for the commerce professional and infused directly into your business processes, giving you insights into your business, recognizing patterns and trends across a multitude of data inputs, and making connections a merchandiser simply doesn’t have the time or the skill to achieve. Armed with these insights, the combination of human + machine learning together delivers the best decision or the best next action to drive conversions.
What’s Next from a Market Leader in Commerce?
Watson Commerce is a complete solution that enables retailers to innovate more — with less overhead. It is a platform that lets you think of something in the morning and get new experiences in front of the customer by the afternoon. If you’ll be joining us at NRF 2018 this month, we invite you to celebrate a major announcement that Watson Commerce is ready to share.
Watson Commerce is a platform you can leverage to take the fight to the competition. Before another customer searching on your site fails to find what they want, discovers you cannot meet their delivery requirements, or tracks down a better price elsewhere, meet us at NRF – Booth 1922.
See all of our planned NRF activities.
On January 15, we invite you to join us for a free breakfast to hear from industry disruptors such as Accenture commerce solutions and fashion-forward retail company, Yoox Net-a-Porter.
It’s time to invest in the growth of your business with a partner known for more than 20 years of commerce expertise and innovation. Leave the competition wondering how you were able to eclipse their sales through excellent customer experiences.