Oracle (ORCL - Free Report) recently announced a slew of latest product enhancements to its Retail platform, are enabling its retail clientele to boost sales.
The company is leaving no stone unturned to aid stores to keep up with the evolving demands of consumers for more convenient check out options.
For instance, new Oracle Retail Xstore POS aids retailers in offering a completely mobile store integrated with the required features and functions to handle shopping processes “on a Tablet or Thin Client.”
Further, Oracle Retail Xstore Office Cloud Service unifies back-office business workloads of store operations. This helps the store to address evolving digital-age consumer preferences and create a more responsive model.
Additionally, the company’s Retail Store Inventory Operations Cloud Services offer RFID (or radio-frequency identification) technology based real-time inventory visibility to deliver smarter and more enhanced customer services.
We believe increased spending by retailers on digitally transforming their business processes, will bolster adoption of the latest services focused on inventory accuracy and in-store mobility.
Digitally Evolving Retail Sector Holds Promise
Oracle is making every effort to improve retail portfolio to include more AI-engineered offerings. Notably, the company will demonstrate latest services in Modern Retail platform at National Retail Federation (NRF) 2020.
Per Oracle consumer research study, “63% of consumers will walk away from a brand forever or at a minimum consider an alternative,” in case shoppers aren’t provided with smarter checkout options and delivery services.
The company’s evolving Customer Experience (CX) strategy, which empowers retailers with AI and cloud driven digital innovation, is expected to strengthen its cloud-based retail platform services.
In fact, per Gartner as revealed by Oracle, retailers will utilize AI to automate and enhance business processes. The research firm also predicts that the use of advanced personalization engines (utilized to be familiar with evolving customer tastes) is anticipated to drive profit levels of digital businesses by up to 15% by 2020.
Oracle’s strength in product portfolio is expected it to expand retail clientele, which is likely to generate incremental revenues in the days ahead.
Oracle’s initiatives to enhance its Retail Platform are in sync with the company’s strategy to capitalize on the digital commerce market. The increased adoption of omni-channel solutions and innovative collaborations deserve a special mention.
These efforts in the retail domain are anticipated to strengthen company’s competitive position against peers like salesforce.com, SAP (SAP - Free Report) , Adobe (especially after Magento acquisition), among others.
Zacks Rank & Key Picks
Currently, Oracle carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader sector are Synopsys, Inc. (SNPS - Free Report) and Keysight Technologies (KEYS - Free Report) . Both the stocks flaunt a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for Synopsys and Keysight is currently pegged at 12.76% and 9.1%, respectively.
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