Business View Magazine | January 2021

20 BUSINESS VIEW MAGAZINE JANUARY 2021 number of concept stores that make shop visits an unmissable experience that is personal to each customer and adds value to their purchase, rather than simply a distribution channel. Collaborative commerce With all these additional sales channels, retailers will see the benefit of digital management systems that relieve some of the administrative burden and enable greater efficiency. The VTEX solution, for example, provides a single comprehensive commerce platform for brands and retailers. Combining activity across every sales and logistics channel, these platforms allow for a unified customer experience, lower cost of ownership, and increased business capabilities across physical stores, websites (B2B and B2C), third party and company owned marketplaces. With all this information in one place, businesses can provide better customer experiences as order information can be retrieved faster and response times reduced. Customer updates can also be automated to ensure any important information about an order process is timely communicated, with no additional workload for employees. As well as customer-facing benefits, these systems enable better collaboration between points in a supply chain, which can streamline a business’s processes, and in turn reduce waste and increase efficiency. For example, orders for items that are low in stock can be placed automatically and only when they are needed. This way, businesses won’t have cash tied up in unused products and materials, and resources can be reallocated to other critical activities. And as these systems collect and analyse data, they can also provide meaningful insight into market trends, that can inform accurate future predictions and business decisions. These trends are evidence that the ecommerce landscape is ever-changing. While digital transformation is set to continue, the speed at which it has occurred for retailers this year means the ecommerce market will inevitably undergo further significant change in the months to come. Businesses that are prepared to adapt now will experience better growth and success than those that remain static or stuck in their ways. About the author: Nate Burke, CEO Diginius Nate Burke founded Diginius in 2011. He is known as an early e-commerce pioneer and entrepreneur. He launched his first internet business in 1997 and is a two-time nominee Ernst & Young Entrepreneur of the Year. He has a BA in Computer Science and an MBA from the University of Alabama. GUEST SUBMI SS ION: ECOMMERCE