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The boundaries between retail and wholesale are becoming blurred
Deliver products more quickly as well as more frequently
Customers go with the wholesaler who offers the best price, the quickest delivery times and the best customer experience
Producers and end customers are able to find each other with an increasing degree of ease. As a result, the boundaries between retail and wholesale are becoming blurred. If wholesalers respond well to this new reality, they will be able to turn customers into fans.
Wholesale companies used to think primarily in terms of pallets. Today, it is the most normal thing in the world for a wholesaler to sends boxes containing just one product. However, this doesn’t change the fact that this package needs to reach the end customer as quickly as possible. Wholesalers have to deliver products more quickly as well as more frequently.
The end customer has become the determining factor. Thanks to the transparency offered by the internet, consumers and business buyers are able to navigate the global supply of goods at lightning speed. It has never been easier to track down and buy the right product. Customers go with the wholesaler who offers the best price, the quickest delivery times and the best customer experience.
These requirements determine the approaches adopted by wholesale firms, which are increasingly required to act as managers of the chain. Finding, retaining and surprising customers is key. That might sound simple, but it has an enormous impact on every aspect of the organisation – from logistics and customer engagement to service, finance and after-sales.
Today, we produce huge mountains of data in all sorts of ways. Whether it comes from sensors via Edge, portal systems and/or business applications or data via third parties through APIs; one thing we know for sure: data is growing rapidly, is available everywhere and it is of value to your organization. However, the question is: how do you extract value from this data to benefit from it?
Interested in Embedded Analytics and what impact it will have on Retail and Wholesale? Watch the video here.