One of the major FMCG retailers in Latin America, which enjoys an eminent presence through its thousands of stores spread across 6 countries, planned to get an Omni-channel makeover. The objective was to increase the brand’s online presence, keep customers engaged and satisfied, and take on the competition from online and offline retailers.
The company adopted a Digital Commerce strategy to provide a seamless and unified shopping experience to its customers across its multiple retail outlets and dark stores. The company has partnered with Mobisoft Infotech and we laid down a phased approach with a dedicated annual budget towards the overhaul of technology, strengthening the digital supply chain, and optimizing digital commerce and operations.
Challenges and Potential
Latin American FMCG Market Analysis
- The FMCG market has been one of the fastest-growing industries in Latin America. The FMCG market share will expect an increase from 2021 by an approximate USD 310.5 billion by 2026 with a steady CAGR of 2.27% .
- By 2030, the Latin American FMCG industry is expected to account for a higher market share of revenue as compared to 2019.
- The revenue for Commerce growth in Latin America is expected to reach USD 83.58 billion in 2023 with an annual CAGR of 12.76%. The users of digital commerce solutions are expected to reach at least 258.10 million by 2027
With the advent of digital disruptions, the boundaries between the digital and physical worlds continue to blur — with profound implications for the way retailers function. Virtually every retailer is impacted by this ongoing digital transformation, whether from its initiatives or due to pressure from competitors.
Key Challenges
- Difficulty in adapting to rapidly evolving consumer preferences without having the right digital commerce solution.
- The rise of digital commerce giants and online marketplaces posed a great threat to the market share and increased the competition across online and offline platforms.
- An urgent need to elevate customer experience and brand loyalty through mobile and website applications across retail stores.
- Developing an intuitive shopping experience to differentiate from other FMCG competitors in the market and bridging the last-mile delivery gaps.
- Seamless integration with existing IT systems and infrastructure.
- Existing customer data migration and streamlined adoption of new applications.
The Solution
We consulted and built a complete platform that enables a streamlined online and offline workflow bridges the gaps in last-mile delivery and helps in personalizing consumer requirements with Digital Commerce Solution.
Our Approach
Conducting Existing Business and Gap Analysis
We conducted existing business and gap analysis to identify and evaluate the areas of improvement to implement tailored Quick Commerce solution.
Evaluating Existing System Analysis
Evaluation of the existing technological infrastructure both hardware and software included, and analyzing integration capabilities helped strategize a suitable Quick Commerce solution.
Analyzing Integration Capabilities
We assessed the areas of improvement with the existing system to integrate payment gateways, inventory management, order processing, and fulfillment to ensure a seamless data flow between the systems.
Third-Party Integrations and Vendor Evaluation
We assessed third-party logistics providers to gauge their capabilities for streamlining third-party integrations organizing delivery speed, last-mile delivery process, and customer satisfaction.
Streamlined Platform Integrations
The effective implementation of streamlined platforms across the system included inventory management, third-party logistics, and payment gateways to gauge mobile and web app performance.
Bespoke Platform Implementation
To create a cohesive ecosystem, we strategically merged the solution to the existing infrastructure for seamless data flow and real-time inventory updates through a unified operation methodology.
Design and Workflow Alignment
The meticulous implementation process crafted an intuitive shopping experience with a mobile-first approach, design, and workflow alignment to optimize efficiency, reduce friction points, and deliver a customer-centric solution.
Beta Rollout Implementation
Limited users and beta testers offered necessary feedback to identify potential concerns before the platform launch, controlled testing helped in further adjustments, and ensure maximum platform stability and user experience.
Security and Load Testing
Conducting security and load testing to ensure safe transactions and customer data protection to identify performance bottlenecks under high-traffic situations, handle peak loads, and validate eCommerce abilities to perform optimally during peak time.
Result - Delivering a Robust Digital Commerce Solution
- Elevating Customer Experiences
With intuitive and user-friendly mobile and web applications, customers of the multicountry retail store chain can now easily navigate across online and offline shopping channels.
- Improvements in Order Fulfillments
By integrating an inventory management workflow, we achieved the ability to view live inventory stock levels and optimize the process of order fulfillment.
- Increase in Sales and Revenue Generation
Having an algorithm that personalizes recommendations and offers for customers, positively impacted the platform’s performance, resulting in increased sales and revenue generation.
- Outpacing the Competition
The implementation enabled the company to become an eCommerce giant and outpace the marketplace by maximizing ROI, adopting cutting-edge technology, and offering exceptional customer-centric services.
- Efficiency in Last-mile Delivery
An established on-demand service improved with last-mile delivery efficiency with optimized route algorithms, logistical advancements, 60-minute express delivery, and minimized delivery cost.
- Capability to Make Data-driven Decisions
The platform established an integrated reporting and analytical feature to drive operational efficiencies and offer data insights to assist the client in making data-driven decisions.
Triumphant Outcome
Our successful implementation of the Digital Commerce platform assisted one of the largest retail store chains in Latin America to outpace the dynamic and expanding retail market. The company’s successful adoption of the seamlessly integrated Digital Commerce platform propelled the retail store chain towards a new era of customer-centricity, sustainable growth, and digital innovation, firmly establishing them as retail frontrunners across the FMCG industry.
