The retail landscape is evolving at an incredible pace. Companies are spending more time interacting with consumers outside of the store through a multitude of communication tools. Self-service options and automation are growing increasingly common, while hyper-personalisation and AI-infused recommendations aim to enhance the customer experience.

To stay ahead of the competition, Retail companies need a technology stack capable of aligning distributed, mobile employees and empowering innovation. Connected, cloud-based tools like Unified Communications as a Service (UCaaS), have the potential to boost productivity, collaboration, and even customer satisfaction.

According to a report from Mordor Intelligence, the value of UCaaS in the retail industry alone was around $47,33.85 million in 2020. However, the presence of unified communication in this sector is expected to grow rapidly, at a CAGR of 24.7% to a predicted value of $17800.17 million by 2026.

Here’s your guide to how Unified Communications is influencing retail.

The Rising Need for UC in Retail

Retail companies are heavily focused on attracting, engaging, and delighting customers from a range of different environments. The success of any store depends on its ability to build powerful relationships with its target audience, often through the use of excellent communication.

UC, and UCaaS solutions give retail companies more power to align their teams around an amazing experience. At the same time, the right technology can pave the way for essential cost savings and productivity enhancements, allowing organisations to compete more effectively in a growing market. Some of the most significant benefits of Unified Communications in retail include the following:

  • Enhanced collaboration: The standard retail environment is brimming with a multitude of different employees working in various locations. To truly deliver amazing experiences and ensure the overall efficiency of the company, business leaders need to ensure teams at the front of the store can connect with specialists on the back end and vice versa. UC tools offer a range of ways for teams to collaborate through video, messaging, and voice.
  • Reduced costs: Keeping costs low and profit margins is high is essential for any retailer. As the marketplace grows more competitive, companies are increasingly investing in tools which reduce their outgoing expenses. UC tools can significantly lower operational costs. Not only do these tools align all of the technology a business needs into one platform (with one bill), but they also reduce maintenance fees, long-distance charges, and tolls.
  • Rapid expansion: UC tools delivered in the cloud are inherently flexible, which is important for retail companies with plans to expand geographically, or through partnerships with other businesses. With the right UC system, it’s possible to add new users to the system within a matter of seconds. Provisioning new tools and training teams to use convenient cloud-based environments is simple and straightforward, even for non-technical teams.
  • Improved data insights: Unified Communications aligns all of your communications technology, team members, and data in one ecosystem. This makes it easier to collect meaningful insights into everything from employee performance to the customer journey. With a UC environment, it’s easier to collect meaningful business intelligence reports, which can assist with the development and growth of the company.

The Trends Driving UC for Retail Companies

Like most companies, retail brands have undergone a rapid and sudden transformation in the last couple of years. The pandemic has delivered new challenges for retailers to overcome when it comes to connecting with, serving, and supporting customers. At the same time, new technologies in the form of XR, IoT, and AI are opening new doors for innovation.

As a powerful, flexible, and agile platform for accessing technology, the UCaaS environment represents a fantastic opportunity for retail companies to take their first step into digital transformation. Some of the trends driving the demand for UC for retail companies today include:

  • Omnichannel sales: Customers are beginning to connect with retailers across a range of different platforms and mediums. What’s more, omnichannel shoppers have up to 30% higher lifetime value than their counterparts. Supporting today’s cross-channel shoppers requires companies to have a comprehensive back-end environment where they can track the customer journey and connect colleagues across any environment.
  • The convergence of cloud technology: Many retailers are already adopting the cloud as a way of storing crucial data, conducting analytical tests, and supporting their customers. As cloud solutions continue to evolve, companies are beginning to combine multiple environments into an all-in-one workplace for distributed staff. For instance, it’s now possible to connect CCaaS, UCaaS, CRM and ERP tools in one space.
  • The 5G revolution: Many of the employees in a retail environment are operating on a mobile basis, managing storefronts, and interacting with customers in person. To remain efficient and informed, these employees need access to the same collaborative UC tools. The rise of 5G technologies will make it easier for team members in any environment to rapidly connect with their colleagues via voice, video, and text, wherever they are.
  • AI and analytics: Demand for more personalised experiences is growing in the retail environment. Today’s customers want fast-paced convenient, and unique experiences tailored to suit their specific needs. Unified Communications tools can make it easier to align analytics about the business environment and customer journey with insightful AI tools. The right solutions can make it easier to understand customer preferences, deliver custom recommendations, and even plan staffing requirements for different seasons.
  • XR and the Metaverse: UC platforms provide a unified environment for all kinds of communication. Many new tools are even beginning to support the arrival of XR technology, to allow retailers to connect with consumers and colleagues through virtual, augmented, and mixed reality. In the future UC environment, employees will be able to connect with staff in the metaverse, use VR meetings to plan strategies for growth and serve customers through XR.

The Rise of UC in Retail

Customer expectations are growing at an incredible rate in the retail industry. Today’s consumers want shopping with a retailer to be convenient and straightforward in any channel, whether they’re buying products online or in person. To stay ahead of the curve, companies need to ensure they have the right foundations for communications in place.

The use of UCaaS solutions in the retail environment empowers business leaders to optimise their workforce, collect valuable insights, and strengthen the customer experience.

 

 



from UC Today https://ift.tt/gGBXmwH