The role of new technologies in the adaptation of retail to COVID
The coronavirus pandemic has dramatically transformed the way the world buys and sells. One of the main changes has been in customer demand and behavior, and the retail sector must adapt to the new market and, in this process, new technologies are key tools. The retail sector must adapt to the new market and, in this process, new technologies are key tools. How can they prepare?
Anticipation
If a company adopts new technologies by initiating or consolidating its digital transformation at a time of overall stability, it will be more competitive and robust in the face of difficulties. This was evident in the early months of the pandemic with a remote work tool like Microsoft Teams. Companies already using the tool on a day-to-day basis continued their meetings and collaborations from minute 1 of the confinement. On the other hand, companies that did not use this type of tool had to find one and teach and adapt the team to its use.
Ability to surprise customers
New sales channels must be sought by developing different campaigns that offer solutions and meet the new needs and requirements of consumers. It is a complex task that requires understanding what the new consumer is like and finding a different formula that reaches the public. Millions of potential customers now have a new similar condition. For this, management tools such as Dynamics 365 for Sales help to manage the sales strategy with a great perspective.
Cloud infrastructure
Another key in the adaptation of retail to COVID is to have a cloud infrastructure that allows to accelerate and develop digital innovations at the pace that the business needs. Find out more about the cloud environment here .
Real-time information available
Obtaining real-time data helps to make better decisions and control such critical areas for retail as supply chains and inventories. By combining technologies such as Azure, Artificial Intelligence and machine learning, forecasting engines can be created. That is, solutions that provide companies to discover information in real time and interpret it and act accordingly. This can also be obtained with tools such as Power BI .
What more can the retail sector do?
- Drive multichannel touch points by redefining the role of the physical store.
- Leverage data to understand customer needs.
- Contactless payment, pick-up and delivery options.
- Streamline operations with pricing and backend inventory resources.
