How Microsoft is stepping up their game for the future of retail
Posted on: February 28, 2020 | By: Dona Todorovska | Microsoft Dynamics AX/365
It’s no surprise that 2019 was the year that we watched many big-name retail stores close or file for bankruptcy. E-commerce is estimated to rise to 22% of all retail purchases by 2023, increasing 8% since 2019, according to Statista. Now more than ever, it is important to have access to tools that will build a successful multi-channel business in a way that successfully meets changing customer needs.
Microsoft recently introduced their Dynamics 365 Commerce, which was showcased at the National Retail Federation Big Show in New York. Microsoft CEO, Satya Nadella, gave the keynote speech stressing the importance of giving consumers an omnichannel digital experience that is tailored to them. Dynamics 365 Commerce works to unify back office, in-store, call center and digital experiences to transform retail operations and customer experience.
E-commerce will be the feature getting the most attention with this update. The improved functionality hopes to streamline management across all channels by providing a single view of content, assets, promotions, inventory, and pricing. With these new features in place, Microsoft is eliminating any barriers to e-commerce and physical stores to make it easier to better understand customers and provide them with an exclusive experience. With added AI and machine learning capabilities included in the launch of Commerce, users will have access to features including: “people also buy”, “frequently bought together”, and “picks for you”.
Other important additions include a content management system, pre-built AI models, and integration tools. The integration tools will allow users to combine data in Dynamics 365 Commerce with Dynamics 365 Customer Insights, Customer Engagement, Fraud Protection, Finance & Supply Chain Management, and Marketing.
If you are interested in learning more about Dynamics 365 Commerce, please feel free to reach out to us at firstname.lastname@example.org or (312) 345-8817.
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