The retail industry is one where speed is instrumental. The industry faces rapidly changing consumer demands, consistently disrupted market statuses and cut-throat competition, and this is precisely why automation is a necessity in the retail world. This problem becomes even more pervasive as businesses scramble to transition to an online model, having to entirely redesign their business processes, and recreate the shopping experience digitally for consumers across the globe. This is where no-code solutions become a godsend for businesses to thrive in the retail game.
In this blog, we’ll be looking at how traditional coded programs fall short and precisely what advantages no-code platforms can bring to the retail industry.
Where Traditional Applications Fail
Retailers who hurriedly shifted to an online model without the support of no-code solutions have been experiencing both front-end and back-end issues. These issues can include failing to offer a personalized shopping experience, messy cataloging, and disorganization with no real-time updates provided. This is because automation with complex programming takes up a lot of resources and time, making it hard for retailers to adapt to the ever-changing technological scene quickly.
Why No-Code Is A Game Changer In Retail
No-code platforms allow users, both technical experts and those without programming knowledge, to create software through visual dashboards instead of writing complicated strings of code. While retail may not seem like an obvious application of no-code, the reality is that the concept of no-code solutions perfectly fits the retail model.
Although this phenomenon is still in the early developmental stages, no-code solutions in retail have already shown a lot of promise. According to a study conducted by McKinsey & Company, 40% of the activities usurping retailers’ times are activities that can be fully automated. This number clearly shows how much potential no-code holds in giving retailers the right technology they need to scale quickly and build efficient applications. The study also found that 30% of retailers showed trust in the future of digital for the retail industry, which shows that awareness around the benefits of no-code is increasing. With more and more business giants adopting a no-code approach and yielding better results, it’s clear that no-code software in retail is doing something right.
The Top Three Advantages Of No Code In Retail
No-code platforms allow retail teams to automate and streamline their workflow, delivering robust solutions without any coding skills or technical expertise. Below, we’ve talked about some of the major advantages of no-code in retail.
Accounting
Organized, efficient accounting forms the basis for any successful retailer. With no-code solutions, retail teams can easily automate accounting processes such as payroll, procurement, and expenses, efficiently tracking all transactions and budgeting. This saves teams precious time and resources, helping them manage finances better while the technical expert teams can turn their attention to more pressing, complex tasks.
Merchandise Planning
As estimated by experts, up to 20% of retailers’ time is spent on merchandise planning. With no code, retail teams can use robust data analytics solutions to study trends and make predictions about crucial future market positions. This not only helps businesses plan ahead and allocate budget and resources where they are most needed but also opens up new opportunities for the business to scale. It takes the risky guesswork model out of merchandise planning and helps companies make better-informed decisions for the future.
Customer Retention
Customer retention is an essential part of any retailer’s business goals. Simply making a sale is never enough. In order to stay atop today’s cutthroat retail scene, mastering the art of customer retention and establishing a loyal customer base is essential for any business’s success.
From delivering automated feedback surveys to offering loyalty points, sending promotional emails, sharing special offers, and beyond, no-code solutions can help businesses optimize and automate their customer retention models. With no code, businesses no longer have to grapple with complicated and expensive traditional coded solutions. No-code equips retailers with the tools they need to offer their customers personalized, streamlined experiences that keep them coming back for more.
A Look Into The Future
For businesses without an expert team of programmers and developers ready, digital transformation and automating business procedures may seem like a daunting task. But with no code, every single retail team (even without technical training and programming experience) can deliver flawless applications without writing a single line of code. Retailers who keep up with no-code culture can quickly respond to changing market conditions and deliver innovative solutions that far outweigh those created by traditional coded platforms.
Experts have estimated that automation will add a whopping $24.6 billion in value to the retail industry by 2025. If retailers want to ensure they are not only surviving but thriving in today’s ultra-competitive retail game, now is the best time to adopt no-code solutions and scale quickly and efficiently.
