Reimagine retail operations to keep pace with consumer demands

Narrow margins have impacted the retail sector for decades. Companies today also face rapid shifts in consumer behavior and disruptive technology trends, demanding that retailers transform their operations to stay relevant, agile, and competitive.

To meet these challenges head-on, global retailers are partnering with Genpact, a global professional services and solutions firm, to deliver key business outcomes that drive growth. Our retail services and solutions – built on our data-tech-AI and digital operations services – help retailers develop connected ecosystems that boost agility, intelligence, and customer experience.

Even though we've all been shopping online for the better part of 20 years now, it doesn't mean we've always done it the same way or that our expectations have stayed the same. As retailers attempt to grow year on year, despite a tough market, they face numerous challenges as they address customer demands, shifting trends, and competitive threats:

• Highly digital customers who constantly switch purchasing channels and expect on-time delivery at a competitive price. For instance, Gen Z buyers – who expect mobile-first and interactive shopping experiences – command over $450 billion in spending power globally

• The need for consistent, seamless, personalized, and secure experiences online and in-store, to boost customer engagement

• Pressure on supply chains, which requires careful planning and flexibility while also considering environmental and social factors

• The inability to optimize operations, from planning to after-sales or effectively managing transportation costs

• Outdated legacy systems that do not mesh with new technology

• Fragmented processes across the front, middle, and back offices

New approaches and solutions – like using process automation, data analytics, and artificial intelligence to redesign customer experiences – can bring huge advantages to retailers as they tackle these challenges.

Savvy retailers know they need to fully embed digital technologies across their operations to corner market share. This means assessing digital readiness and implementing a digital ecosystem that covers the entire value chain.

Genpact's retail services and solutions span an enterprise's front, middle, and back office to uncover opportunities and deliver growth. Our solutions:

• Deliver superior customer experiences: By providing personalized, immersive, and consistent experiences across channels through automation, advanced analytics, and AI-driven insights, we help retailers improve customer engagement

• Transform supply chains: We modernize technology stacks and legacy systems to enable greater supply chain visibility. Companies can then quickly respond to demand fluctuations and disruptions without eroding profitability

• Embed environmental, social, and governance (ESG) goals into the supply chain: We use our ESG expertise and data management skills to deliver compliant, investor-grade reporting and create more sustainable supply chains

• Enhance profitability and productivity: By transforming operations with our extensive retail experience and data, technology, and AI solutions, we address inefficiencies and improve governance to boost margins and reduce revenue leakage

Figure: Genpact's digital solutions and operations bring transformation to retailers.

At Genpact, we make retail operations responsive and relevant thanks to our industry expertise and technology credentials:

• 20-plus years of industry knowledge

• Clientele that includes 5 of the top 10 global retailers

• A global in-house workforce in retail of over 8,500 strong

• Over $72 billion worth of transactions processed for retailers every year

• More than 500,000 SKUs managed annually across our retail clients

Genpact's data, technology, and AI-enabled solutions help major retailers grasp opportunities, adapt to changing consumer behavior, and deliver greater value to customers while controlling costs.

See how we're helping enterprises around the world:

Improving the visibility of financial data for smarter business decisions

A global sportswear manufacturer and retailer aimed to grow its direct-to-consumer (DTC) channel and unify data across legacy systems dating back over two decades. Genpact created a finance data lake on AWS and used the Snowflake data cloud platform to weave the data together, enabling self-service analytics and predictive tools.

The company improved its visibility of financial data to support a new profitable DTC model and realized $450 million in cash-flow benefits and over $50 million reduction in customer payment deductions.

Delivering exceptional experiences around the point of sale through a fully integrated digital experience platform

A leading drugstore chain was using a legacy content and commerce solution that prevented it from scaling its online business to meet the needs of its diverse customers. Rightpoint, a Genpact company, implemented the Adobe Experience suite, including Magento 2 (Adobe Commerce), resulting in an end-to-end integrated digital experience platform. We added full native Android and iOS app commerce functionality – all managed via the cloud.

Our work led to a 26% increase in overall revenues, a 20% increase in conversion rates, and a 34% increase in revenues from new users.

Front-to-back-office transformation

For one of the world's largest retailers, Genpact helped streamline asset creation and improve creative efficiency by implementing Adobe's Workfront project management solution and Adobe Experience Cloud for content management, enhancing data-driven decisions and reducing creative production costs.

We worked with the client to identify revenue leakages and handoffs within the cash loss life cycle using data analytics, an AI/ML-based matching engine for credit and debit transactions, and risk profiling of stores. Timely raising of potential frauds was done for the asset protection team. All of this resulted in a cash loss reduction of 30% year over year and an upstream process fix in BlackLine platform, allowing the auto-match rate to increase by 2% to 98%.

We implemented a cloud-based payables system, an AI-powered and workflow-orchestration-enabled system of engagement (SOE), and an industry-first fully integrated disputes technology stack merging a supplier-facing disputes portal with a middle- and back-office SOE. This resulted in a roughly 20% reduction in downstream disputes, improved first-time-right receipt matching using AI and machine learning, and around 40% efficiency gains through automated resolution of invoice exceptions.

With Genpact's range of retail solutions and our strategic technology alliances, we help clients become digital leaders with the technology, data, insights, and approaches they need to delight customers and deliver lasting growth.