Capillary Technologies is a provider of saas solutions that empower retail marketers to quickly and effortlessly construct, manage and analyze customer data.

The present society is marked by the omnipotence of mobiles, with a normal user checking his mobile at least 100 times a day. The commoditization of mobile hardware and low prices of Smartphones have made access to advanced mobiles possible for anyone. With the provision to access internet at low prices, more and more people are turning to mobile internet, to look for information. Moreover, popular retailers enable customers to make purchases through mobile devices by using sophisticated apps. All these factors have combined to enhance usage of mobiles as a source of information and mobiles are quickly surpassing desktops or notebook computers as favorites for internet usage.

With the industry maturing along the technology curve, companies are realizing that technological adaptation no longer remains an option, but is a necessity. Currently, technological incorporation is viewed as an imperative for differentiation in a highly competitive market. There is an active interest shown recently by companies towards data capturing and analytics to develop value-added services and products for customers. Another aspect coming to the front is social behavioral data, with its capability to drive future-oriented business decisions that offer support for an organization's attempts to listen to customers across all channels and analyze customer behavior. Businesses are also employing cloud-based platforms to obtain real time updates on the market and devise the best strategy for facilitating improvements in customer oriented services.

Considering the recent happenings, the future of retail sector could be connected to the SMAC-Social, Mobility, Analytics and Cloud. These technologies are viewed to have the ability to lay a solid foundation for business operations as well as internal and external customer services.

The Rapid Growth

The current level of growth happening in emerging markets has paved way for explosive markets with high-growth rates that have evolved from being overlooked opportunities. With these markets rapidly developing as a major competitive territory for large as well as small brands, we could see it becoming fragmented owing to the presence of large numbers of players. Given the way things are, the most important question is how these businesses would deliver true value to customers, as ability to do so would be the determining factor as to which enterprise would sustain a profitable growth.

Tool to Connect to Customers

Social media is an effective tool to foster customer loyalty as large numbers of customers look for brands they liked on social media, or social media advertising works. Talking about the last few years, the number of people following brands on social networks has more than doubled. Realizing the enormous potential in social media, retail firms have commenced using social media to deploy critical functions such as customer service, issue resolution and customer feedback. In other words, social media is a key tool in the retailer's arsenal.

The Key for Success

Customers tend to indulge towards brands that assure them of an easy and satisfying buying experience. Some of the world's most loved brands such as Apple, Marks and Spencer and Puma have based their success on ensuring ultimate customer experience, which is turning every opportunity with customers into a delightful experience. The prominent results of such an approach were increased average basket sizes, improved top line performances and loyal customers who in turn, became brand advocates.

Challenges to Tackle

Though favorable macro-economic indicators are surfacing, the firms would still encounter difficulties in terms of sufficient funding without demonstrating business value for customers. On the way to achieve this, business leaders have to sort out challenges such as developing right partnerships, building customer credibility and trust, keeping up with regulatory norms and consistently staying ahead of the technology curve.

(As told to Anitha Nair)