Without a doubt, the past year and has been volatile for retailers as they were forced to adapt to changing consumer behaviors.
But while retailers were heads down and looking for answers to their technology limitations, analyst firms were recognizing GK Software for existing solutions already solving the problems COVID-19 exacerbated.
Most notably, Gartner released a guide on pricing and promotion solutions and IHL Group explored the market leaders in order fulfillment; both named GK Software as a leading provider in the space.
IHL Group highlights GK as a top company
COVID-19 turned BOPIS and curbside pickup into mass-adopted services in 2020. And these services are now a solid part of consumer's shopping habits, as 75% of shoppers have used in-store or curbside pickup in the past six months.
For retailers, the shift in behavior required retailers to respond with streamlined fulfillment processes. IHL Group's Competitive Market Leaders report identified the key partners for digital order fulfillment at a store level. The report ranked vendors based on the average percent their customer's revenue comes from digital sales completed by store fulfillment, and included GK Software as a top company.
The industry's focus on curbside demonstrates that physical stores still play an essential role for retailers. But the traditional store has evolved to be much more than a location for shoppers to browse and buy the items they need.
Retailers must now have an established architecture that achieves omnichannel commerce, as well as new fulfillment options like curbside. GK Software's CLOUD4RETAIL platform supports retailers as they enable a unified commerce experience.
Gartner names Dynamic Pricing to Vendor Guide
Over the past year, grocery prices have increased by 2.6% overall,according to the Bureau of Labor Statistics. Shoppers' increased price sensitivity, as well as the volatility of the market and competition has led retailers to focus on dynamic pricing. This allows them to better serve customers and retain loyalty while also improving profit margins.
Customer demand and the availability of certain products can change daily, making it almost impossible to manually run a meaningful forecast of purchase behavior based on typical seasonal trends.
GK Software's Dynamic Pricing solution was recognized in Gartner's Market Guide for Retail Unified Price, Promotion and Markdown Optimization Applications. The AI-enabled solution allows retailers to optimize their omnichannel pricing strategies in real time and at scale, based on the full scope of their available customer and market data.
Balancing today's needs with expectations for the future
As you look to prioritize your technology investments, it can be overwhelming to balance the demands of today along with expectations for the future. GK Software can help you implement solutions that address both. After all, we are an analyst-recognized provider. So why not work with the best?
