NanoMatriX International Limited hosted a successful seminar on “O2O – The Future of Retail” at Hong Kong Productivity Council premises, 20-May-2015. The seminar discussed the O2O concept and strategy, how it can be used to improve HK retailing business, and how to implement O2O strategy with advanced IT tools. The leading aigle ERP/POS software Openbravo was introduced as an advanced O2O solution for HK retailers.
Currently O2O is a hot topic in China and Hong Kong. It means online to offline, and offline to online retailing strategy. The linkage of multiple digital and traditional retail channels, and customers conversion through all these online and offline channels are crucial for implementing O2O.
More and more channels are available for customers to find product information or purchase merchandise. There are ecommerce, mobile, social, and physical stores etc channels. Customers require highly consistent and seamless shopping experience through all channels. They want to buy things at “anywhere, anytime, as I want”, so that O2O strategy which aim to integrate all sales channels and provide consistency consumer experience, can meet fast changing consumer behavior today. The strategy will bring a lot of benefits for retailers:
- Identify customers through a 360° view, to know an actual customers and their channel preferences. Without O2O, a multi-channel customer could be perceived as different customers, which may bring inconsistency and unconvenient experience for them .
- Avoid internal competition. Ecommerce and offline channels will not be internal competitors any more once retailers aligned online and offline prices, promotions and marketing strategy. No matter which channel performs better than the other one, they all contribute to the sales volumn.
- Generate up sell by converting customers online to offline, and offline to online.For example, using QR code printing on the product package/posters can lead offline customers to visit and buy products online. The other way around, using booking, digital vouchers and other promotion items can convert online visitors to offline buyers.
- Align all data and share customer references within internal departments to make data driven decision. Find bottlenecks and quick wins with centralized data and consolidate analytics.
- Provide multiple payment methods to customers, facilitate their payment procedures. Such as integrate mobile payment methods Alipay, Wechat payment at offline shops, which will help brick and mortal retailers to get valuable customers data that couldn't get from traditional cash or credit card payment.
In addition to O2O concept and strategy, Openbravo was introduced as an ERP fundation to implement O2O. It has been used to enable organizations of various sizes and from various industries to roll-out very successfully O2O strategies. There are home decoration brand, wine wholesaler, school and office supplies brand and many other companies using Openbravo in China.
With agile Openbravo ERP fundation, retailers can open new sales channel faster no matter online or offline, and easier to centralize and synchronize data through all channels. Both online to offline and offline to online conversion points can be easily implemented with centralized ERP functionality. Openbravo will provide powerful analytics and help retailers to gain business intelligence and make well-informed decisions.
Openbravo has available APIs to easily integrate data from ecommerce platforms(e.g. Taobao, Tmall, JingDong, Magento) , 3rd party logistics(e.g. SF Express, FedEx), multiple payment methods(e.g. Alipay, Paypal, Wechat and Tecent pyament). As an open architecture solution, it can also provide integration for existing ERP system such as SAP, Kingdee and Oracle. Its cloud ready system also makes all sales, transaction and payment data can be updated in real time through offline shops' Openbravo POS system to headquater's Openbravo ERP system.
Openbravo ERP and POS demonstration and successful cases was shown at the seminar. For several Hong Kong based companies attending this seminar confirmed that O2O will play an important role for their corporate strategy to boost multi-channel conversion locally and their international subsidiaries. Here, system integrators NanoMatriX can provide companies with the necessary support and know-how to enhance their competitiveness.
If you are interested to know more about O2O strategy or Openbravo ERP/POS, click below button to sign up NanoMatriX event.