The retail industry is evolving to serve a whole new world.
As Deloitte notes, “retailers have been forced to reexamine their legacy systems and strategies” and “require entirely new ways of thinking and long-term commitments” that “could forever shift the way retailers conduct business”.
We wrote this blog to help you tackle these trends and make the necessary changes to stay successful in the coming years. To do so, this blog will explore:
- Some of the major trends reshaping the retail industry.
- Which Grytics features can help you tackle these trends head on.
- How Grytics helped retail company The Miroglio Group.
Let’s get started!
A Whole New World: Major Trends in the Retail Industry
While there are many trends impacting the retail industry, there are few that are most relevant to our discussion and how Grytics can help. These trends are:
- Retail is going online, digital, and multi-channel. Many customers and transactions moved online during the pandemic, and not all of them will return to brick-and-mortar stores. As a result, retailers are building internal digital infrastructure to keep in constant contact with their customers and putting user experience first in their strategies.
- Retail is adapting to long-term hybrid work. For example, Apple has created a new schedule where office employees will only need to be in-office three days per week. In addition, some traditionally in-store activities - like handling some sales, customer service, and tech support - will be performed by at-home employees.
- Retail is struggling to find and keep their employees. As Forbes notes, “retail employees have been quitting in droves” and major retailers like Walmart have resorted to hiking wages to find and keep employees. Korn Ferry also found that 87% of retailers are experiencing moderate to significant challenges hiring employees.
To tackle these trends, retail companies need to take a few actions.
- Build internal digital infrastructure that puts employees into constant contact with their customers and their colleagues.
- Expect to have a permanent hybrid workforce — for both in-office employees and as you move in-store experiences to remote workers.
- Make good use of your digital collaboration tools to manage your hybrid workforce and to keep them happy, engaged, and loyal.
These are big actions. But thankfully, Grytics can help you bring them to life.
How Grytics Can Help: Platform and Key Features for Retail
Grytics is a simple platform that works with your collaboration tools like. Microsoft Yammer and Teams, and Workplace by Meta. Grytics collects a ton of data about how your employees are using these tools. Then, Grytics makes it easy to analyze this data and make smart decisions about how to improve your employees’ engagement, collaboration, and productivity.
Grytics gives you a few features that can help you tackle the major trends in your industry. Using Grytics, you can easily monitor and manage the three most important metrics for retail’s new hybrid workforces:
- Content Performance: See which of your content campaigns and individual posts have been most successful and which need a boost.
- Group Engagement: See how different groups — at every level of your organization chart — are engaging with your content over time.
- Individual Member Engagement: See which of your employees are actively engaged with your content and which are spectators.
In addition, Grytics simplifies, streamlines, and automates all of this data collection, analytics, alerting, and reporting — letting you quickly, easily and efficiently create a data-driven employee engagement program.
None of this is theory. Let’s review a real-world example, and see how the Miroglio Group used Grytics to improve their workforces’ engagement.
Real World Example: Grytics Helps the Miroglio Group
The Miroglio Group is a leading retail company with 5,000 employees across 34 different countries. They use Workplace by Meta to manage their distributed workforce — and they use Grytics to manage Workplace.
Using Grytics, the Miroglio Group has saved time and increased their hybrid workforce’s engagement. Specifically, they use Grytics to:
- Create automated reports. They run and share an automated monthly report that shows which teams and employees are most engaged.
- Host corporate contests on Workplace. They host annual contests using hashtags and use Grytics to search, sort and rank submissions.
You can read more about the Miroglio Group and Grytics here.
Or, you can take the next step with Grytics.