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Cognizant Launches Stores 360: Transforming Retail Operations

Cognizant, a leader in technological solutions, has recently unveiled Stores 360, a cutting-edge retail solution designed to revolutionize store operations and elevate customer experiences. This comprehensive service is not just a tool but a transformative platform, developed in collaboration with ServiceNow. By harnessing Cognizant's Neuro® AI platform and the Now Assist solution powered by generative AI, Stores 360 promises to enhance every aspect of the retail value chain, leading to frictionless and highly efficient operations.

The retail landscape has dramatically changed over recent years, with the increased shift towards digital channels and a growing demand for personalized customer experiences. These shifts, driven by advancements in data analytics and AI technologies, necessitate a significant evolution of traditional retail operating models. According to a study by McKinsey and Co., retailers that invest in advanced technology and robust operational frameworks can expect about 2.2 times higher returns for shareholders and see customer engagement and brand awareness rise by 40-45%. With Stores 360, Cognizant aims to serve as a critical enabler in achieving these impressive results.

This partnership with ServiceNow not only underscores the pressing need for innovation in retail but also highlights the powerful potential of integrated AI solutions tailored to enhance in-store customer experiences. The Stores 360 platform can be deployed rapidly, often in just four weeks, allowing retailers to expedite the process of opening new stores by 10-20%. Moreover, it promises to reduce store operating costs significantly, by 30-40% while ensuring a staggering 98% uptime for all store systems and assets, effectively minimizing unnecessary operational disruptions.

As Sushant Warikoo, the head of Cognizant's Retail Business Unit, puts it, “Stores 360 has the potential to revolutionize retail as consumers increasingly seek immersive experiences.” The initiative reflects Cognizant's commitment to providing innovative solutions that not only drive substantial results but also empower employees, reduce store operating costs, and enable retailers to adeptly navigate the evolving landscape of consumer experiences.

Stores 360 is engineered to enhance store-centric employee experiences through automation and streamlined workflows aimed at realizing cost efficiencies and fostering revenue growth. It comprises three key offerings, which allow retailers to prioritize based on their specific business needs: new store openings, store management, and asset management.

According to Rita Chung, ServiceNow's head of retail product, “With the majority of retail revenue still generated from brick-and-mortar stores, creating an exceptional in-store experience is essential.” The service ensures that retailers meet and exceed customer expectations by providing a comprehensive digital solution that guarantees efficient operations while enhancing overall customer satisfaction.

Moreover, Stores 360 integrates various aspects of retail ecosystems, uniting store associates, managers, customers, headquarters employees, and field technicians in a cohesive platform. This integration supports consistent and connected experiences across all retail channels. It also facilitates new store openings while simplifying daily tasks for store associates. Cognizant's Neuro AI plays a fundamental role in this ecosystem by utilizing extensive data analysis to recommend optimal new store locations based on factors such as demographics, competition, complementary businesses, operational logistics, and consumer purchasing behaviors.

Additionally, the solution leverages Cognizant IoT capabilities and retail service offerings to provide real-time insights, self-healing capabilities, and efficient field service management.

Despite facing economic uncertainties, modernizing retail store operations remains a crucial investment area. The integration of AI and machine learning into retail systems not only helps in predicting demand but also optimizes pricing strategies and offers personalized in-store recommendations. 2025 and beyond will likely see greater demand for such intelligent solutions, which are poised to reshape how retail businesses operate.

Abhilasha Sharma, Practice Director at Everest Group, emphasizes that “Cognizant has demonstrated strong proof points of delivering impactful transformation for retail clients, particularly in areas related to store operations and analytics.” With a robust suite of intellectual properties and a network of industry-specific partnerships, Cognizant is well-positioned to capitalize on emerging trends in the retail sector.

To explore the transformative capabilities of Stores 360, visit the official Cognizant website.

About Cognizant

Cognizant (NASDAQ: CTSH) is dedicated to engineering modern businesses. By assisting clients in modernizing their technology, reimagining processes, and transforming customer experiences, Cognizant aims to help businesses stay ahead in a fast-changing world. Learn more at cognizant.com or follow us on Twitter at @cognizant.