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Retail
A nexus of tech forces has transformed the retail cart in the last few years. Technology has eliminated the last mile with online retail reaching the customers doorstep. Brick and Mortar enterprises no longer can afford to stay out of online retail and need to transition to the new reality and start operating as âBorn in the Digital’ companies.
Digital consumers are now demanding cross channel experience from their favorite brands. This has redefined consumer expectations challenging retail businesses to relook at their business models and strategies.
Across retail and eCommerce businesses, digital consumers are driving this transformation. Traditionally commerce has been purely transactional, but with the help of emerging technologies like AI, Cognitive Intelligence, commerce is moving towards relationship-based engagement between consumers and sellers. We believe this will not just bring empathy to the relationship, but also build trust between them in the long term.
Moreover, the concept of loyalty programs is also going through this paradigm shift. Instead of expecting loyalty from their customers, retailers are now working towards being loyal to these customers through a deeper understanding of their needs, consumption behavior and personalization.
This is where cutting edge digital technologies intercept the traditional retail tech models and rewriting the rules of the game. Emerging technologies help identify every individual consumer as ‘a unique profile’ enabling retailers to engage with them as per their individual needs. However, models of engagements vary across categories and formats of retailing.
Nihilentâs retail practice is focused on addressing retail industry challenges around customer engagement, omnichannel presence, deployment of business-critical enterprise technologies like ERP systems, along with profitable trading.
We help retailers grow their business through specialized eCommerce, POS (Point of Sale), SAP S4 HANA implementation services, Advanced Analytics and Machine Learning-Driven solutions, UX Testing, Bespoke Application Development, Application Integration Services, and Mobile Solutions. At Nihilent, we bring a holistic approach to helping our customers transform to a digital business.
Our Domain Expertise
RESENSETM
Nihilent developed RESENSE forecasting solution leveraging years of industry expertise and its deep retail industry domain knowledge. RESENSE provides the demand forecast by utilizing multiple forecasting algorithms, including univariate and multivariate time series forecasting models, Machine Learning (ML) including deep learning models. These models are chosen to replicate numerous different demand patterns including extreme volatile patterns. The application refines demand forecasting accuracy by segregating actual demand from sales data, which is generally used for demand forecasting. Read more
UX Testing
The customer is the king! And like a true king, your customer demands the best experience- anytime and anywhere. But, how do you measure experience? Because only by leveraging what gets measured, you can craft meaningful and relevant experiences for your users. We, at Nihilent, understand that user experience is the new battleground for all the digitally competing companies. Through our offering- User Experience Testing, we enable designing of products and services that people love, and that empower businesses to win.
Omnichannel Marketing Analytics
Our SightN2⢠for Omnichannel Marketing Analytics solution arms marketers with breakthrough insight and simplified decision-making tools to improve marketing performance. Marketing analysts, managers and agencies now have access to the previously hidden insights with easy-to-use dashboards, enabling strategic and tactical decision-making for high impact digital marketing.
Cloud-Based E-Commerce Platform
Donât build just another e-Commerce portal, build an intelligent platform! We offer you an e-commerce platform that has been intuitively designed so that your consumers love shopping with you. With our unique development methodology leveraging Cloud, we deliver a platform that is secure, scalable, and device agnostic, ensuring unified experience across channels.
Climalytics
Combine the power of weather data with your organizations’ data, to turn insights into high-value predictive action! Climalytics⢠is a pre-defined weather analytics solution that delivers weather data such as temperature, precipitation, postal codes, etc. that easily âsnaps-inâ to various other types of custom data directly from your organization. Start gaining deeper insights and driving better decisions with a solution in 3 weeks or less! Read more
Customer Loyalty Evaluation/ 14 Signals ÂŽ
We had a question â âWhat ensures loyaltyâ? Our curiosity led us to create a powerful market sensing framework, our proprietary 14 SignalsÂŽ. The framework helps us understand customer value by studying 8 value signals and 6 cost signals, across both the tangible and the intangible spectrum.
Creating Data Assets
Brick and Motor retailers today are confronted with challenges created by data silos. The need of the hour is to build a scalable infrastructure that can connect all the dots to provide a holistic view of all existing data points by keeping the customer in the centre. Nihilent facilitates creation of a Scalable Data Infrastructure enabled by Business Analytics, Business Intelligence, Artificial Intelligence, Machine Learning where by transforming the data to relevant cross business insights.
Store Location and Site Analytics
Opening a new retail store can be daunting especially when you donât have any reliable insights to help you make informed decisions. With our store location and site analytics, we provide you exactly that. Based on the type of industry, insights around- demographics, competition, ease of doing business, probability of success- certainly empowers your decision-makers.
Cannibalization Analytics
Our Cannibalization Analysis provides a thorough comparison between the profit from the selling of existing product alone and profit from selling the product along with other new product(s). The analysis sliced and diced on various other parameters provides a holistic view of the launch of the new product and any cannibalization thereof.
Market Basket Analysis
Using our Market Basket Analysis technique, you can identify the association between items and types of customers who bought it. With such insights, you would be able to offer personalized and effective recommendations, the next best product, customize promotions and a lot more!