The Importance of Innovation in the Retail Sector
Innovation is a critical aspect in virtually all business sectors. Times change, and the needs of clients change with them. This is why it is essential to adapt to new trends and demands if businesses want to grow and continue to provide a useful service to their clients.
This is precisely what was pointed out by HMY’s Business Unit Director Philippe Berthaud, in an interview for the website Capital-a-la-une. Berthaud highlights the fact that HMY works to constantly stay in touch with new technologies and with the evolution of materials. These innovations are always executed while working closely with clients, who are at the center of the shopping experience and without whom it would be impossible for either party to achieve a successful outcome.
According to Berthaud, the key to HMY’s leadership in the retail sector lies in their unique ability to provide their clients with a complete service. This means that, unlike other companies, HMY offers 360-degree project management, from the formulation of business models and retail concepts to the manufacturing and execution of the turnkey project.
This 360-degree service itself is an innovation in the sector, and it is accompanied by other current solutions which take advantage of the latest technological advances in order to create unforgettable shopping experiences. These include interactive screens, contactless payment, holographic screens, facial recognition technology, etc.
Communication and Client Relationships Are Essential for Success
Innovation is not the only ingredient to HMY’s success. In order for innovations to be effective and for all parties to be satisfied, maintaining continuous contact with clients is essential. This helps us to understand their needs, their concerns and, above all, to advise them on anything that they don’t understand.
However, the client relationship is not the only thing that needs to be maintained. The ultimate goal when designing shopping areas is to build customer loyalty. Berthaud is clear: “Our priority is to develop solutions that optimize the flow of customers and sales, generate profitability and a return on investment, increase satisfaction with the purchase process and, therefore, improve the customer’s satisfaction and earn their loyalty.”
In the interview, Berthaud highlights HMY’s large global presence. They already have 15 manufacturing facilities and more than 4,000 employees serving a variety of industries including beauty, do-it-yourself, sports, phone service, food… HMY has a particularly huge influence in the food industry, mainly thanks to the creation of Evolution P25, which is considered to be the European standard in food retailing.
HMY has grown significantly in the last 20 years, thanks to acquisitions and investments made throughout the world. In fact, the group’s revenues have experienced remarkable growth compared to the previous year.