Retail-as-a-Service to Occupy Online Marketplace
Due to the majority of growth recorded online, conventional brick-and-mortar stores are moved with the idea of marking their presence in the online space. This has also contributed to the drastic change in the purchasing habits of the customer since a lot of transformations are happening with the business model as well as in harnessing advanced technologies. It can be observed the change in trend has ignited to the developments of Retail-as-a-Service.
It shouldn’t come as a surprise in a space where a majority of the struggling retail stores have adapted
the Retail-as-a-Service (RaaS) facility to build and advance their infrastructure. RaaS has empowered companies to gain accessibility to the solutions and a gateway to embrace digital ecosystem. With the number of benefits unfolded by RaaS, it primarily aims at equipping retailers with limited budget to incorporate advanced solutions for their business.
As most of them know about the Amazon Go stores, which enables cashier-less in-aisle transactions, the ecommerce giant is formulating steps to make the capability accessible to others. This could be a prime example for RaaS, since it endows a technology that could save time for the patrons and remove friction in POS areas. Instead of upping the ante on developing technology, the retailer is availed with the option to purchase a solution which has appeared true.
One of the significant advantages of RaaS could be its application in real-time inventory for brands that provides benefits for both buyer and seller. Thus the customer can eliminate the chances of getting waitlisted if the seller has the knowledge on what is there or not in the inventory. While observing the days ahead of RaaS in the year 2020 and beyond, it appears to be brighter than ever. Innovations with regard to supply chain are likely to transform with key developments in delivery models. Retailers will be able to avail advanced capabilities in the management of supply chain for its optimization opportunities and increased efficiency. Customers will start to observe a connected experience that is transparent from inventory control to delivery dates. As supply chain transforms, services catered to the customers will also start bettering.