May 2, 2019  |  MX Data

Retail Technology Consulting: Does Your Company Need It?

Retail is in a state of flux with factors such as our multi-screen world, our need for connectivity, and contextual relevance driving constant change.

For instance, the line between e-commerce and in-store experiences is becoming increasingly blurred as the years go by.

Such changes present exciting new possibilities that forward-thinking retailers can take advantage of, but these could also be the final nail in the coffin for businesses who have refused or failed to adapt.

In this ever-changing landscape, the spoils go to companies nimble enough to adapt to changing marketplaces.

It’s no secret that retailers need to learn how to embrace change to thrive and do what matters most—make their customers happy. This, however, is easier said than done.

So then how can you flourish in these changing times?

As the saying goes, the future belongs to those who prepare for it today. You should turn to technology-driven transformation and consulting to stay up-to-date with shifting customer preferences and trends.

Together with a retail technology consulting company, you can explore new technologies that fit the business and set up a flexible ecosystem that lets you capitalize on disruptive changes.

Retail Technology Consulting Firm

What is M.X. Data?

The retail industry has seen quite drastic changes in the last few years, and no business is immune to it. Change can be a lot of work, but it is critical to business growth.

Companies such as Toys“R”Us and JCPenney learned that the hard way.

Although their troubles stem from many reasons—debt, new competition, and customer loss—these companies have all failed to innovate and adapt to changing times.

In the digital age, data is crucial to decision-making processes.

Deriving actionable insights from data enables retailers to make a clear path towards their goal. Often, companies struggle to take advantage of the myriad of data capture points disseminated throughout their environment.

That’s when they need retail technology consulting.

With over 30 years of industry experience, M.X. Data (MXD) is a trusted partner of luxury retailers all around the world, offering a full range of solutions and consulting services that enable retail businesses to thrive in the ever-evolving and competitive landscape.

Part of M.X. Data’s mission is to teach retailers how to capture, store, and analyze their data.

Not only will this uncover their strengths and weaknesses, but it will also reveal hidden opportunities for growth. Sometimes, an unbiased perspective is what you need to recognize your blind spots.

Together, MXD and the retailer can implement tailor-made software or hardware solutions to promote innovation and embrace change.

MX Data Customers

With its knowledge and expertise in the industry, as well as its tools and solutions, MXD can help retailers develop a solid IT strategy and create a tactical roadmap for their business.

What M.X. Data Can Do For You

Different generations have varying preferences when it comes to shopping. Generation Z shops on social channels two to three times more than the average consumer, particularly on Instagram and Snapchat.

Here are other statistics that might interest you:

  • About 9.6% of Generation Z shops at brick-and-mortar stores, while 31.04% of millennials, 27.5% of Generation Z and 31.9% of Baby Boomers also like to purchase items from physical stores.
  • Only 11.8% of Generation Z reports shopping on Facebook, while 29.39% of millennials, 34.21% of Generation X, and 24.56% of Baby Boomers also frequent the social network for shopping.
  • Both Generation Z and Millennials spend most of their money on items they find on Instagram or Snapchat.

Knowing all that, you should adopt a modern approach to retail instead of sticking only with traditional or e-commerce platforms.

This modern approach centers on a cohesive user experience, where customers and retailers can engage at every touchpoint.

In modern retailing, every channel is optimized to ensure a seamless shopping experience. This is quite different from traditional retailing which enhances individual touchpoints without necessarily considering how each affects the entire shopping experience.

Modern retailers should take advantage of the cloud, analytics, mobile, and other emerging technologies to improve their efficiency while reducing costs thanks to the integration of their retail systems.

M.X. Data has a smart infrastructure that can adapt to your business’ changing needs.

We can make your company more agile by teaching you how to determine and implement the right technologies for your business.

1. Promote Omnichannel Solutions

E-commerce might present a massive potential for growth, with 1.66 billion people worldwide purchasing products online. However, if you truly want to cater to today’s consumers, you have to offer services on all online and offline channels.

On top of that, you have to provide a seamless shopping experience.

M.X. Data helps you build a modern retail organization for the modern customer by aligning your e-commerce and brick-and-mortar channels into a unified architecture.

In doing so, you can keep customers within your ecosystem, where each channel will work harmoniously with the rest to raise sales and engagement.

We offer a powerful point of sale solution, designed to integrate all your retail channels, from e-commerce and m-commerce to brick-and-mortar or shop-in-a-shop. This streamlines inventory and order management and makes the shopping experience more convenient and customer-centric.

2. Encourage A Culture Of Agile Innovation

Traditional retailers who only have brick-and-mortar stores won’t be able to react as quickly as retailers who’ve embraced omnichannel or multi-channel retailing.

Often, it’s not the physical obstacles that hinder their ability to adapt. It is their business culture itself.

Our retail integration platformPortalMX—gives you the freedom to choose which retail systems to connect seamlessly into a single platform, enabling you to operate more efficiently and achieve better results.

3. Lead A Digital Transformation

It’s always best to seek help from a retail technology consulting firm before the business expands.

M.X. Data can help you come up with a strategic plan for your digital transformation.

With our knowledge and expertise in the industry, we can help you lay out a long-term roadmap which details where your IT investments are headed and when.

Our team of consultants will teach you how to manage your growth and choose ideal solutions that can take your business forward.

MX Data can integrate disparate systems or implement the technology you lack to move your business forward in the ever-evolving retail landscape.

We can set up the service in-house. To ease the burden on your IT team, we can also send a team of highly-skilled professionals who can kick-start your digital transformation.

4. Improve Store Operations

At M.X. Data we always work hard to cultivate honest, transparent, and collaborative long-term relationships with our clients.

We can help you every step of the way. Even when you’ve completed your projects, we will continue to lend a helping hand to constantly improve your processes and operations.

Our team of consultants will recommend ideal retail solutions for your business needs. We provide crucial hardware or software resources to help you manage your systems more successfully and operate more efficiently.

Our highly-skilled consultants can install, test, and configure your retail solutions for you. We will also train your store staff before deploying your new systems at every store location.

What We Offer

From the creation of an IT strategy to its implementation, we provide retailers and their IT teams with flexible capabilities that enable them to achieve their business goals.

Retail IT Consulting

More and more retailers are turning to cloud technology, analytics, mobile, and other digital disruptions to optimize their operations while reducing costs thanks to the integration of their retail systems.

To embrace such a digital transformation, retailers must have the right tools or solutions that can adapt and respond to the ever-changing landscape of retail. In addition, you must be able to protect and secure the wealth of data you gain as your company grows.

Here at MX Data, forward-thinking retailers can gain a competitive edge as we can help simplify business processes, eliminate redundant tasks, and reuse assets.

We empower your IT teams with the best solutions that will help you achieve your goals.

About MX Data

Here are some of the services and tools we can offer you:

  • Integration of existing or new systems with Cloud technology
  • Inventory and order management optimization
  • Customer experience and engagement improvement
  • Data collection, storage and analysis optimization
  • Selection and implementation of the right software solution for your business

MX Data provides a competitively priced and highly-adaptive infrastructure that empowers your organization to change according to your needs.

We equip retailers like you with exciting new ways to operate your business and flourish, no matter what disruptions will come your way.


Takeaway

To thrive in this ever-evolving world, you should partner with a trusted retail technology consulting firm.

M.X. Data has highly-skilled experts who can help you transform your business into a modern and optimized retail organization, equipped with the latest technologies and a flexible infrastructure designed to respond rapidly to disruption.

We can help you stay ahead of the competition and do what you have always strived to do—improve customer experience and engagement.

We partner with companies who not only want to embrace the future but also want to define it. Together, we can make your retail business endure the tests of time. We provide innovative solutions that fit your company’s needs and can help achieve your goals.

Ready to learn more? Get in touch with us here.

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