The last few years have been a rollercoaster for businesses, from the sudden and dramatic shift to online selling through the global pandemic, to the recently reported slowdown in online sales.
Based on research presented by Benedict Evans in February 2023, this shift isn’t actually a downturn, it’s a return to the eCommerce trendline.
While the eCommerce spike benefited businesses that were able to quickly adjust and pivot, the increased spending wasn’t sustainable. The re-alignment with the existing trendline shows that eCommerce sales are actually continuing to grow, driven by organic growth factors including a shift in overall consumer behavior and technology advancements.
But behind the scenes, there’s another revolution impacting the way we run our businesses. We’ve already seen a tremendous shift from analog commerce to digital commerce, moving from green accounting pads and cold-hard cash to always-on eCommerce stores and seamless connectivity. But the next revolution is the shift to intelligent commerce.
Intelligent commerce expands the use of advanced technology, including artificial intelligence (AI) and machine learning to improve the customer experience, drive operational efficiency, and drive business growth.
With intelligent commerce, businesses can get real-time insights into their inventory levels, sales trends, and customer demand. Business owners can optimize their demand forecasting, leveraging historical sales data and other variables, including seasonal trends, customer behavior, and even the impact of marketing campaigns by leveraging advanced tools within their existing systems. This enhanced forecasting reduces the risk of stock-outs and ensures that customers can purchase the products they want, regardless of the channel they choose.
What’s driving this shift and why now?
The current technological landscape is witnessing a rapid pace of innovation, including automation, mobility, and intelligence. These advancements pave the way for intelligent commerce, where businesses can leverage data-driven insights to personalize customer experiences and make informed decisions. Several of these technologies are already being used by large enterprises, but the time is right to democratize them for small businesses.
At Cin7, we are committed to making intelligent commerce accessible to all by providing affordable and easy-to-use solutions. The convergence of automation, mobility, and intelligence has created a unique opportunity for businesses to improve their operational efficiency, enhance customer engagement, and ultimately drive growth.
Cin7 Core and Cin7 Omni have helped over 8500 customers in 75 countries transition from analog to digital commerce and take advantage of opportunities for accelerated growth.
“It’s the perfect growth platform for small to medium inventory businesses.”
– Cale Watson, Operations Manager for Mega Medical
Our product investments are guided by customer feedback and evolving market needs.
We gather feedback and insights from our customers and partners to identify pain points, unmet needs, and opportunities for improvement. This information is then used to guide product development and innovation, ensuring that the resulting products and services align with customer expectations.
In addition to investing in products based on customer feedback and needs, we also recognize the importance of investing in future needs based on recent technological advancements. We understand this dynamic and are committed to offering products that help our customers today while also building a future-proof solution.
Our approach involves leveraging the latest technologies and trends to create products that can adapt and evolve with our customer’s changing needs. By taking a forward-thinking approach, we enable our customers to stay ahead of the curve and maintain a competitive advantage in their respective markets. Our focus on both customer needs and future trends ensures that our products provide value and relevance to our customers, both now and in the future.
With this balanced product investment, we will enable our customers on Cin7 Core and Cin7 Omni successfully transition to intelligent commerce taking advantage of advanced technologies such as AI and machine learning, automation, and mobility to optimize their operations, and ultimately drive growth and profitability.
This includes investments in:
This shift to intelligent commerce requires product investments over the next couple of years and we are starting now. Here is a preview of what you can expect to see from those investments through 2023.
At Cin7, our curiosity and commitment extend to discovering new ways to enhance the value of your inventory, warehouse, and manufacturing systems. We are determined to provide you with cutting-edge tools and solutions that have traditionally been complex, expensive, and only accessible to large corporations. We are constantly learning more about the unique challenges faced by our customers so we can develop solutions to address their needs. By working closely with our customers, we provide tailored solutions that drive growth, efficiency, and profitability.
We’ve only scratched the surface of what’s to come, and what is possible. Cin7 is committed to building the runway for our customer’s long-term growth through our strategic investment in the Cin7 Core and Omni products. Step into the future of intelligent commerce with us.
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