The retail ecosystem in 4 bite sized chunks

The world of grocery retail is changing. Customer expectations are shifting. Digital products and services, and the digital handshakes which support the retail lifecycle are becoming mainstream strategic focuses for businesses.

The retail ecosystem must create a digital handshake all the way from the supplier, to the customer who has nipped to their corner shop to buy a pint of milk. Here’s our handy guide on how the retail ecosystem should fit together to best service the needs of the customer in 4 bite sized chunks (and if that’s not fast enough for you, skip to the end to check out our neat animated infographic on the retail ecosystem).

 

 

1. The consumer.

The customer wants the best range, sold at the right price, with great customer service. In terms of a local independent grocery store this not only means a familiar friendly face behind the till, but fully stocked shelves, clear pricing labelling and a selection of the products to choose from, from the pint of milk they popped in for, to the tempting treats they hadn’t realised they needed until they saw it in store.

 

 

2. The retailer.

The focus of an independent grocery store is their customer. They need to be able to meet the customers’ needs and offer the right products, as and when the customer needs them. Fully stocked shelves and real time information on product availability is a must. Systems that facilitate this must be reliable, simple and affordable.

 

 

 

 

3. The Retail Group

Retail groups work with their wholesale suppliers to make sure their customers (the grocery store owner) have access to real time product data on price, promotion and availability and can fulfil replenishment requests quickly with the minimum of disruption to operations. Systems introduced by the retail group facilitate a seamless buying experience for their customers.

 

 

4. The wholesaler.

The wholesaler sources and supplies the retailer with the best products at the best prices available. Real time product data makes it easy for retail groups to buy and supply their customers, the retail stores. 

 

 

Want this information even faster? Check out our animated infographic on the retail ecosystem.

 

Want to hear more?

Want to dive a little deeper? Read how wholesale retail group Ramsden International are using the digital data handshake to add £12m to their bottom line. Or if you’d like to talk to our Head of Retail, contact This email address is being protected from spambots. You need JavaScript enabled to view it.

About the Author...

Rich heads Answer Digital Retail, delivering world class solutions to clients including Costcutter Supermarkets Group, FCUK, Arcadia and Ramsden International. Richard has a passion for retail and the transformational impact technology is having on customer experiences.