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Retail Industry And Business Level Intelligence – Shamayun Miah

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Retail Industry And Business Level Intelligence – Shamayun Miah

In the retail industry, business intelligence is more crucial than ever. Customer data can be used to discover trends and behavior, assess which items and services are selling (and which aren’t! ), and how to target new customers, in addition to beating the competition.

What is the Retail Industry’s Business Intelligence?

The process of leveraging data to uncover important consumer insights and information that can be used to make informed company decisions is known as business intelligence. A technology-driven process for collecting, storing, and managing data such that it is accessible and ready to be evaluated is required to achieve business intelligence.

What are the Benefits of Business Intelligence for Retailers?

There’s no such thing as too much information when it comes to outperforming your rival in retail, which is more fast-paced and competitive than ever before. Customers now have more alternatives than ever because of the rise of eCommerce- Shamayun Miah. Business intelligence monitors how customers interact with online stores, and this data can be utilized to improve the buying and service experience for customers. A consumer, for example, may receive recommendations based on recently seen items. With business intelligence, eCommerce helps retailers to make smart, efficient decisions based on customer behavior. This data is available in real-time, allowing businesses to instantly adjust prices or change product offerings.

This data is also useful for brick-and-mortar retailers, who can use it to balance inventories between online and in-store merchandise and offer cost-effective shipping choices like buying online and picking up in-store. Best Buy, Home Depot, JCPenney, Kohl’s, Old Navy, Target, Walmart, and a growing number of other brick-and-mortar businesses are now offering this option.

Businesses can also provide a uniform experience across all channels with more access to critical consumer and operational data. Furthermore, business intelligence data can be utilized to forecast when things will run out, allowing businesses to plan and make better location-based merchandising decisions- Shamayun Miah. For internet customers, sorting through thousands of alternatives might be intimidating. It’s reassuring to walk into a store where decisions have already been made for you.

Make it simple for clients by compiling a list of the greatest items. Customers will appreciate not having to make so many decisions and knowing that someone they can trust—you—has selected the finest option for them -Shamyun Miah.

Marketing

Advantages Of The Retail Marketing – Shamayun Miah

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Advantages Of The Retail Marketing – Shamayun Miah

The application of marketing functions in the distribution of goods to customers is known as retail marketing. Organized retail encompasses marketing efforts such as grading, packing, advertising, and advertisements, as well as displaying a variety of items at a suitable price with offers such as discounts and credit. Retail marketing provides consumers with the ease and comfort of purchasing at a location or medium that is convenient to them –Shamayun Miah.

Retail and marketing are two distinct concepts; whereas retail involves selling a small number of goods to a specific group of people, marketing entails a variety of activities such as transportation, banking, insurance, warehousing, and promotion. The major goal is to provide the goods to the clients promptly so that they can be satisfied.
Goods are made for consumption and satisfaction, which is made possible by the marketing system. The current retail operation of delivering goods or services to customers is more than just a sale; it is a marketing activity that adds value.

  • Online sales currently make up around a quarter of the total retail market, showing that the industry is growing rapidly. Customers are increasingly placing orders online, therefore retailers who ignore e-commerce risk losing business- Shamayun Miah.
  • However, before deciding whether or not to trade online, you should carefully weigh all of the advantages and disadvantages and undertake thorough market research.

Some of the benefits of selling online are as follows:

  • Easy market access – in many respects, entrepreneurs’ market access has never been easier. Using online markets like eBay and Amazon, anyone can set up a simple online shop and sell items in minutes. Consider selling on internet auction sites.
  • Reduced costs – selling online can eliminate the need for expensive physical locations and client-facing people, allowing you to invest more in marketing and improving the consumer experience on your e-commerce site.
    When selling over the internet, traditional retail development constraints such as sourcing and paying for larger things are no longer an issue. With a savvy digital marketing strategy and a plan to scale up order fulfillment operations, you can respond and improve rising sales
  • Grow your market/export – a significant advantage over traditional brick-and-mortar retailers is the ability to simply expand your market outside local customers. You may discover that your products are in high demand in other countries, which you may fulfill by utilizing targeted marketing, offering your website in a foreign language, or partnering with an international company.
  • Customer intelligence is the ability to use internet marketing tools to target new customers and use website analysis technologies to gain insight into their needs.
E-commerce/Technology

How Is Technology Transforming The E-commerce Experience? – Shamayun Miah

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How Is Technology Transforming The E-commerce Experience? – Shamayun Miah

As retailers strive to provide a smooth shopping experience across numerous forms and stores – physical, kiosk, online, and mobile apps – the omnichannel is the new buzzword. Datamatics’ cutting-edge retail and e-commerce solutions enable businesses to integrate the customer experience across all channels.

Introduce new channels quickly with Datamatics technologies, improve merchandising, tailor offerings, reduce operating costs, and increase sales across all touchpoints. Through strategically linked Beacon systems across the retail shop, as well as telecom-enabled SMS alerts in ring-fenced geographically dispersed locations, Datamatics enables merchants to cross-sell and up-sell products- Shamayun Miah.

Datamatics also enables its retail and eCommerce businesses to position packaged offers to their customers via smart use of purchasing history, pattern mining, sophisticated analytics, and artificial intelligence/machine learning (AI / ML) algorithms.

Datamatics is a digital payment pioneer, enabling simple and contactless, cashless money transfers across several digital platforms. As the globe prepares for future COVID-19-like pandemics, Datamatics enables its retail and eCommerce institutional customers to issue open loop, contactless prepaid cards, such as Rupay cards in India- Shamayun Miah.

AI algorithms and big data analytics may also help with consumer behavior analysis based on information like product preferences, browsing history, and so on- Shamayun Miah. The consumer experience is then improved by tailoring marketing efforts based on their habits and needs, thanks to predictive analytics. Customers exploring the portal through regional languages, for example, spend 20% more time on the site, with more viewership of product videos, according to statistics from a prominent value-based online retailer.

As a result, by analyzing their purchase history and pitching appropriate specials and discounts, customers’ experiences can be tailored. Furthermore, related products can be upsold based on the purchases of other customers in the same demographic pool.

Furthermore, businesses must provide a tailored omnichannel experience, in which a customer can order a product on the website/app and pick it up at a nearby brick-and-mortar location if desired.

In the midst of all of this, it’s important to recognize the value of social media as a digital marketplace where vendors may directly communicate with potential buyers. Instagram and Facebook are great instances of this, with the former providing visual stores that assist boost customer engagement.

Technology

The Role Of Technology In Providing A Consistent Customer Experience – Shamayun Miah

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The Role Of Technology In Providing A Consistent Customer Experience – Shamayun Miah

These days technology is enhancing and providing privilege to people in different aspects. Online marketing is also get affected by the onset of technology. So what technology is doing in enhancing customer experience:-

  • Taking a customer seamlessly from online to offline experiences necessitates an integrated mix of technologies. Retailers will be able to provide a unified commerce experience with the right systems in place if they- Shamayun Miah
  • On a smartphone, in-store tablet, or checkout station, provide information relevant to the customer’s geographic location.
  • Sending detailed information about the products the customer is interested in, including whether they are in stock or can be delivered.

Other product recommendations are displayed based on previous browsing history or purchases made by similar customers.

Connect customers online with in-store associates who can assist them over the phone or when they visit the store.
Providing information in real-time to make any interaction personal and relevant.

Customers can be fickle and unwilling to wait for websites to update or load, and they’re unlikely to forgive a retailer who says their preferred item is in stock only to arrive at the store and discover it’s already sold. In terms of the customer, the interaction should be seamless, intuitive, and enjoyable, regardless of whether they interact online or offline. Accuracy is critical for the retailer.

For the customer experience to be memorable, the retailer must first understand the buyer’s journey. This can be done more effectively if the retailer can collect and analyze data about customers to gain insights that power the experience.

Technology Usage By Retailers- Improved customer experience

Commerce systems that integrate product inventories, customer loyalty databases, point of sale (POS) systems, mobile technology, and eCommerce platforms are examples of backend technology powering retail experiences. From the user interface to the backend processing, these systems and applications must all work together logically to map to the customer workflow.

Digital transformation – connecting data, business applications, and workflow to provide a great customer experience or business operation with the help of digital technologies such as cloud, mobile, AI, and IoT – is thus a priority requirement for retailers to compete in the future- Shamayun Miah.

Marketing/Technology

How Powerful Social Media Marketing Can Be For Your Retail Business – Shamayun Miah

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How Powerful Social Media Marketing Can Be For Your Retail Business – Shamayun Miah

Marketing on platforms like Facebook, Instagram, and Linkedin with a global audience helps build awareness like no other strategy when it comes to marketing techniques. Especially for retail businesses in the market, social media helps to level the playing field and gives all businesses, big or small, ample opportunities to get their brand noticed. Let us delve into how social media can propel the success of businesses.

Finding your Target Audience

Social Media Marketing has several features such as hashtags and tagging of individual accounts that make it a tad bit easier to identify potential customers who may be interested in your product or service. Hashtags help collate all relevant posts to a particular tag. For example, under the hashtags #chocolates, all posts regarding that will show up. This means providing appropriate hashtags for your posts will help bring your audience directly to you instead of you having to take a chance at those who may not be interested. Hence, Social Media platforms are powerful tools to help narrow down your target audience and increase marketing efforts towards them in a more streamlined manner- Shamayun Miah.

Interacting with your audience

With features like commenting, direct messaging, polls, and more, social networks help humanize brands and create a more genuine bond with consumers. You do not have to always post content related to your product, you can also enquire about the lives of your consumers or even conduct fun surveys to get to know what they expect of you. DM(Direct Messaging) is much more informal and convenient than emails where one can just go up to your page and click on ‘message’ or even reference images on your profile to enquire about a product. Hence, engaging with your audience has become a breeze- Shamayun Miah.

Importance to Visual Content

Though there are both textual and visual components, when one is scrolling through dozens or hundreds of posts, the visual is what strikes an impression and captures the attention of consumers. Hence, if your marketing team has a flair for creating breathtaking visuals you may have an advantage here and also you have all creative freedom to encourage this process- Shamayun Miah. You can provide high-quality pictures of your products straight away to reel consumers who are interested in them.

Technology

How Advancement In The Retail Industry Is Overcoming The Customer-Brand Gap – Shamayun Miah

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How Advancement In The Retail Industry Is Overcoming The Customer-Brand Gap – Shamayun Miah

The retail industry is emerging and evolving at fast rate Thanks to discoveries and technical breakthroughs, the retail industry has seen a spectacular transition during the last five decades or more. Advancements have been made in a variety of sectors and verticals, including cash registers, coupons, shopping carts, barcodes, and e-commerce. These have not only simplified the purchasing process but have also made customers’ life easier. Because of the supply chain disruption induced by the pandemic’s onset and long-term consequences, significant changes in how the retail industry operated previously occurred.

According to Shamayun Miah, the primary driving trend in the retail sector that is bridging the gap between customers and brands is the increased attention and impetus on the digital transformation of retailers, especially in recent years. Customers used to make purchasing decisions at the store shelf, offering brick-and-mortar retailers the opportunity to collect first-hand information on buyer preferences and behavior. Though the digital revolution at first appeared to be a hindrance, it has significantly increased the efficiency of both online and offline client management. The development of e-commerce and practices such as mobile shopping has provided merchants with a greater understanding of what purchasers are looking for and how their behavior is evolving.

A real-time query/grievance resolution system enabled by tools like live chat for fast support is another innovation that is helping to bridge the customer-brand gap. If a customer has a question about a brand, a specific product, or a service, they can easily use the 24×7 chat help available on applications and web platforms. The live chats are now powered by intelligent chatbots that act as virtual assistants, thanks to improved technologies. Bots can now grasp a query or recommendation even if the words are a little jumbled or don’t follow the set pattern, thanks to artificial intelligence.

Conversational AI, which is essentially a set of technologies that underpin automated messaging and speech-enabled applications, allows humans and computers to have more human-like interactions. Conversational AI identifies text and speech while also taking into account the context to answer in a way that is similar to human conversation. Automatic speech recognition, natural language processing, enhanced dialogue management, and machine learning are among the technologies employed by conversational AI. According to Shamayun Miah, Voice bots, on the other hand, appear to have a bright future.

Yemen Crisis

Assisting Yemen’s People During These Tough Times Is Crucial – Shamayun Miah

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Assisting Yemen’s People During These Tough Times Is Crucial – Shamayun Miah

The situation in Yemen is worsening and the people of Yemen are in desperate need of urgent and continuous humanitarian assistance. We may help them by making donations to organizations that deal with humanitarian crises. The purpose of such organizations is to offer food and shelter to those who are affected by the disaster- Shamayun Miah. In addition, the United Nations works to help those who are suffering from starvation or drought.

The United Nations has long been a beacon of hope for those in need. Yemen’s youngsters have been subjected to a dreadful conflict for the past six years. More than 24 million people require humanitarian aid and protection now, including 12.3 million children.

Yemen’s war has resulted in severe famine and poverty, with millions of children malnourished as a result. The effect of the COVID-19 pandemic has further undermined already poor health systems, leaving thousands of children and families without the medical care they require to live. It is anticipated that 16.2 million people in the country will be affected by severe food shortages, with 21,000 children at risk of starvation.

Teenage boys and girls in Yemen are in danger of exploitation and abuse due to lack of facilities- Shamayun Miah.

  • Unicef works with local governments and non-governmental organizations to provide emergency assistance to children in Yemen and it has offices in all governorates. Health checks, immunizations, malnutrition treatment, water, and school supplies are all available.
  • Save the Children helps children with education and a safe environment. According to the group, which educates teachers and builds temporary learning spaces, up to 75% of schools in some regions of Yemen have been damaged. Food is also provided by Save the Children in the form of cash and coupons.
  • Doctors Without Borders has 13 hospitals and health clinics throughout the country. It also supports 20 public health projects in Yemen, where the conflict has forced the closure of half of the country’s medical institutions. It operates in Houthi-controlled territory.

If the issue in Yemen is not resolved quickly, the country risks becoming a victim card for world leaders to exploit. If it gets out of hand, alliances will emerge, resulting in a much greater battle involving numerous countries, with no help for the people who are suffering the most- Shamayun Miah.

 

Yemen Crisis

How The Yemen Crisis Affect The Rest Of The World – Shamayun Miah

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How The Yemen Crisis Affect The Rest Of The World – Shamayun Miah

The Kingdom of Saudi Arabia and the United Arab Emirates (UAE) have led one of the coldest military oppressions against forces led by the Houthis who seized control of Yemen’s capital, Sanaa, in September 2014. Violence erupted in northern Yemen in 2020, when the Houthis decided to seize new areas under the accepted Yemeni government and advanced towards the Marib northern province, where thousands of Yemenis went into exile and faced dire humanitarian conditions, with Covid-19 being just a scratch of their many problems. The extent of the hardness faced by the Yemenis was critically analyzed by Shamayun Miah for peace and fund-raising purposes for the children and women of Yemen, Shamayun Miah outlined the issues in a series of reports he released.

According to BBC, the Yemen crisis has done despicable harm to its people and if it is not curbed now, has the potential to escalate regional instability. It also concerns the Western part of the Arabian Peninsula because of the possibility of attacks emerging from the nation, such as those carried out by al-Qaeda or IS affiliates, as the country grows increasingly unstable.

The political battle between Iran and Saudi Arabia in the area is the possible catalyst for the burning down of Yemen.

Geographically, Yemen links the Red Sea with the Gulf of Aden, through which a large sum of the world’s oil exports passes. This makes the impact of the crisis in Yemen, crucial to the detriment of oil exportation and logistics around the World.

According to World Reports, Western countries, like the United States, France, and Canada, continued to supply firearms to Saudi Arabia, the United Arab Emirates, and other coalition members. Despite the documented evidence of ongoing war crimes by the coalition, the United Kingdom confirmed in July that it will continue to sell weapons to Saudi Arabia. US State Department officials have warned that US officials might face war crimes prosecution in connection with weaponry supplies to Saudi Arabia and coalition partners. Iran has been a source of support for Houthi fighters.

From my perspective, if the crisis in Yemen is not curbed on time, the country could become a pawn for international leaders to exploit. If it gets out of hand, alliances would be formed and will lead to a much larger war between multiple countries. The possibility of this happening is relatively low, but there’s always room for the impossible. Let’s focus on the present by joining hands with Shamayun Miah to support the children and women of Yemen.  This is not about politics this is about the lives of people who need our help.