Retail is becoming harder to manage as customers expect better service across every channel, while suppliers, stock, pricing and promotions all need closer control.
itim presents unified retailing as a direct response to this challenge. Its argument is that retailers need to connect the customer-facing side of the business with the supplier and stock-management side. Growth depends not only on winning customers, but also on having the right products available, priced correctly and promoted effectively across stores, online channels and marketplaces.
Retailers need to make more from their best customers. itim points to the importance of VIP and regular shoppers, who often account for a large share of revenue. Serving these customers better can improve loyalty, increase repeat purchases and support sales without relying only on new customer acquisition.
Retailers can use apps and digital tools to offer memberships, subscriptions, appointments, lookbooks, digital wallets, promotions and rewards. These services give customers more reasons to return and make it easier for retailers to build stronger relationships with the people who already buy from them.
The operational challenge is just as important. Retailers need broader product ranges, faster availability and better coordination with suppliers. But more choice can also create more risk if stock is not managed properly. Poor visibility can lead to missed sales, excess inventory and weaker margins. A unified system can help retailers make better decisions by connecting demand, stock, pricing and supply in one place.
Retailers are increasingly acting as distributors for suppliers as well as curators for customers. That means they need systems that support closer supplier relationships, better range planning and more flexible ways to bring products to market. This can help retailers respond faster to demand and build a more relevant offer.
itim’s platform is positioned to support these needs by bringing together sales, stock, pricing, promotions, customer engagement and supplier management. The value is in helping retailers reduce fragmentation and make faster, more consistent decisions across the business.
itim Group plc (LON:ITIM) is a SaaS-based technology company that enables store-based retailers to optimise their businesses to improve financial performance and effectively compete with online competitors. Itim adds retail value by helping multi-channel retailers optimise their business and their stores to improve financial performance and compete more effectively with the “Amazons”.
