The Retail Industry was valued at USD 23,460 billion in 2017 and is expected to register a CAGR of 5.3% during the forecast period (2018 – 2023), to reach USD 31,880.8 billion by 2023. The current retail industry provides products such as food, apparel, furniture, jewelry, and various others at an omnichannel platform and in-store as well. The increasing strength of online shopping and the growing smartphone penetration across the globe is driving the e-commerce channel. Also, the introduction of the Internet of Things (IoT) is revolutionizing the retail industry.

Retail ERP Solutions align with these new demands with ease. The consumers buying journey is key to any marketer – automated navigation, quick movement of data and personalized communication allow a consumer to make well-informed decisions. An ERP software for retail industry helps a business gain a strategic view with centralized data and functionality. From customer relationship management, financial management, and inventory management, Retail ERP Solutions are valuable to avoid mismanagement of interfaces, confusion in pricing systems between channels, and inconsistent KPI management.

How does Prudence help?

Prudence Technology helps implementations that facilitates localization, implements lean methods in the entire value chain, increase wallet share through social media/e-commerce/mobile shopping, and above all, factor in the consumer feedback to deliver an ever-changing experience. Along with the need to manage the backend bone of supply chain and logistics for enabling the business to ensure the availability of the right goods at the right place at the right time.