Deloitte has established an immersive and interactive Connected Retail experience at its Deloitte Greenhouse innovation space in Cape Town.
“Here you can experience ‘1.0 of the art of the possible’ in your own business to understand the value of digital transformation – from enabling technologies to, store management, inventory management, connected supply chain, connected workforce and advanced analytics," says Mike Vincent, consumer industry leader at Deloitte.
The new experience is a physical extension of Deloitte's Connected Retail offering, which provides emerging market retailers with the opportunity to experience real-world digital solutions and explore the opportunities presented by digital transformation. To this end, the firm recently strengthened its South African retail team with the addition of a number of individuals with extensive expertise in the international and domestic retail sectors.
Vincent says the Connected Retail experience at the Greenhouse space is part of the company's new focus on ‘show not tell’. "We’re confident it will give our retail sector clients a significant advantage over their competitors as they position themselves to avoid the pitfalls and capitalise on the enormous opportunities offered by the Connected Retail wave.”
This new interactive experience allows visitors to gain practical, tangible insights into every aspect of the Connected Retail ecosystem, sampling proven solutions alongside new technology relevant to each of the touch points: consumer, store, workforce, supplier and supply chain.
Digital disrupting retail
According to Vincent, the new wave of retail innovation will manifest itself in shorter queues at checkout, an improved shopping experience, much better selection of goods and traceability thereof, personalised and relevant special offers and the ability to have out-of-stock items delivered to customers’ doors.
“Retailers globally are being disrupted by digital, yet less than one-quarter of retailers are actively doing anything about it,” he reveals.
“The changing retail landscape is driven by exponential changes in technology, innovative business models and changing customer expectations. This disruption is both an opportunity and a threat for retailers. Operating in South Africa does not mean that our industry will not be disrupted – digital disruption is already here.”
Like their international counterparts, South African retailers would traditionally run specials where discounts or 'two for the price of one' offers are given for a period of between a few days and a few weeks...
Garth Meier 8 Feb 2018
According to the company, it's been working with retail clients to get the most out of digital – improving efficiencies, driving down costs and creating a better understanding of the entire value chain – from suppliers right through to customers.
Senior manager Corniel van Niekerk says that Connected Retail technologies will not only make for a vastly improved shopping experience for customers, but retailers and suppliers who embrace and implement them effectively will see a significant boost to their bottom line. “In this sense it’s a genuine win-win situation.”