SINGAPORE, June 11, 2024 /PRNewswire/ -- Manhattan Associates Inc. (NASDAQ: MANH) today announced the findings at NRF Retail's Big Show APAC of the industry's first real-world analysis of Unified Commerce for specialty retail in Singapore conducted in partnership with Google Cloud and Zebra Technologies. This is the first of four real-world analyses undertaken in the APAC region with the others being conducted in Australia, New Zealand and Japan. The Unified Commerce Benchmark for Specialty Retail, conducted by Incisiv via actual shopping transactions, assessed four retail verticals including apparel and footwear, home and DIY, department stores and luxury.
The Unified Commerce Benchmark for Specialty Retail in Singapore conducted by Incisiv, assessed 33 retailers, analysing 290+ customer experience capabilities in four categories including: search and discovery; cart and checkout; promising and fulfilment and service and support.
Based on data from actual purchases, returns and customer journeys across digital and physical channels, the benchmarking reveals common attributes of successful retailers and opportunities for retailers to improve customer value and operations. Of the 33 retailers benchmarked, five brands emerged as overall leaders in Unified Commerce: Nike, Adidas, Dior, UNIQLO and Charles & Keith.
Below are some of the key findings from each of the four categories assessed:
Richard Wright, Managing Director, South East Asia at Manhattan Associates commented: "In Singapore's fast-paced retail market, continuous innovation is essential. With 74% of consumers valuing AI-driven recommendations, retailers must continue to evolve and innovate with AI for personalised experiences just like we are doing with Manhattan Active® Maven.
"Today, digital payment adoption has reached 87% and over the next 12 months RFID technology will continue to streamline inventory management, as eCommerce sales in Singapore grow at a CAGR of 8.9%. All this technology and consumer momentum highlights the importance of enabling and offering seamless transactions to consumers and underlines the significance of developing and delivering a fully functioning unified commerce strategy," Wright finished.
"Unified Commerce holds great promise for retailers and the key to it lies in not only seamlessly joining digital and in-person experiences, but also linking all the data and systems that enable them too," said Paul Tepfenhart, Global Director Retail and Consumer Strategy at Google Cloud. "This latest benchmark provides retailers with a data-based roadmap to deliver a unified commerce strategy."
Amarjot Mokha, Chief Operating Officer at Incisiv concluded: "Retailers must continually innovate and adapt if they are to keep pace with shifting consumer trends. Retailers embracing a unified commerce approach are able to go beyond simply selling products, to a place where they can craft experiences that deliver up to 3X higher revenue opportunities, in the process, creating the type of brand connection and customer loyalty every retailer covets."
Click here to view the complete 2024 Unified Commerce Benchmark for Specialty Retail in Singapore.
About Manhattan Associates
Manhattan Associates is a global technology leader in supply chain and omnichannel commerce. We unite information across the enterprise, converging front-end sales with back-end supply chain execution. Our software, platform technology and unmatched experience help drive both top-line growth and bottom-line profitability for our customers.
Manhattan Associates designs, builds, and delivers leading edge cloud and on-premises solutions so that across the store, through your network or from your fulfillment center, you are ready to reap the rewards of the omnichannel marketplace. For more information, please visit www.manh.sg
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