Oct 22, 2024

Tech Tactics is Sourcing Journal’s series with brands and technology companies to discuss their latest innovations. Here, Mike DeSimone, CEO of NewStore, discusses how the unified commerce platform helps retailers bridge the gaps between in-store, online and mobile experiences and the steps the fashion industry must take to avoid being left behind. SOURCING JOURNAL: ​​Starting from the top, what inspired the launch of NewStore, and what gap in the market was the company aiming to address? Mike DeSimone: The launch of NewStore was driven by a clear need in the retail industry for a unified platform that could seamlessly integrate all aspects of omnichannel operations. Retailers were struggling with fragmented systems that made it difficult to deliver a cohesive shopping experience across various channels, including in-store, online and mobile apps. NewStore was designed to provide a holistic approach to omnichannel retail operations, enabling brands to manage everything—from inventory to customer engagement—through a single platform. By offering this all-in-one solution, NewStore aimed to eliminate the complexities retailers faced with disjointed systems, ultimately allowing them to focus on what they do best: delivering exceptional shopping experiences. Related Stories What services does NewStore offer to ensure a seamless omnichannel experience? M.D. : NewStore’s core mission is to provide retailers with an end-to-end unified commerce platform that bridges the gaps between in-store, online and mobile experiences. At the heart of our offering is the NewStore Unified Commerce Platform, designed to enhance how retail brands engage with their customers across every channel. The platform’s modular architecture allows retailers to adopt and integrate the components that align with their immediate needs while also providing the flexibility to scale and evolve as their business grows and market demands change. NewStore’s 2024 Omnichannel Leadership Report emphasizes that while some brands are thriving by adapting to the ever-evolving retail landscape, others risk falling behind. That said, what steps can these brands take to remain competitive? M.D. : Retail is at a pivotal moment where rapid adaptation is essential for survival. Brands that are thriving in this evolving landscape have embraced omnichannel strategies and leveraged digital innovation to meet the ever-increasing expectations of modern consumers. For those brands that risk falling behind, they should invest in omnichannel capabilities. This is the most obvious, but brands must prioritize developing a seamless and connected experience across all customer touchpoints—online, in-store and mobile. This includes integrating technologies that allow for inventory visibility, unified customer profiles, and consistent service, no matter where the interaction occurs. Ensuring a frictionless experience is key to meeting consumer demands for convenience and flexibility. They should also enhance mobile and in-store integration. The report highlights that while mobile commerce is growing rapidly, many retailers still lack robust mobile apps that offer features like real-time inventory checks and in-store integration. Brands can stay competitive by not only developing these apps but also ensuring they enhance the in-store experience through features like store modes or associate enablement tools. Beyond helping retailers stay competitive, why else should they consider NewStore as a partner? M.D. : We offer a unique combination of proven return on investment (ROI), unwavering commitment to customer success and a forward-thinking approach to technology. Our platform has consistently delivered significant returns for our customers, with an average 32-time ROI across our client base. This success is driven by measurable sales uplifts. On average, this equates to a 17 percent increase from ship-from-store, a 10 percent boost from the endless aisle and mixed cart functionalities, and a 7 percent uplift from clienteling. These results demonstrate how NewStore not only enhances the customer experience but also drives substantial revenue growth, making our platform a powerful engine for retail success. Where do you hope to see the retail industry five years from now, and what role will NewStore play in getting it there? M.D. : In five years, the retail industry is expected to achieve a new level of cohesion between physical and digital experiences, where the boundaries between online and in-store shopping are virtually nonexistent. Retailers will no longer view their physical stores and e-commerce platforms as separate entities but as integral parts of a unified strategy designed to offer consumers a seamless, flexible and immersive shopping experience. The role of mobile apps will also become even more significant, transforming into the modern loyalty card, seamlessly bridging the gap between digital and in-store experiences. These apps will not only provide real-time inventory and exclusive promotions but will also offer personalized, data-driven experiences that reward customer loyalty and enhance the overall shopping journey. NewStore will play a critical role in driving this evolution by providing the technology and expertise needed to unify and elevate the retail experience. Read More About