While late-night shopping on the high-street is part of the annual run up to Christmas for many people, new findings suggest that maintaining this tradition will matter to just 11% of consumers this year.
Retail Critical Issues
These Critical issue articles relate to strategy, legislation, technology, best practice and some of the most challenging business topics in the world of retail information technology. The articles in this section have been contributed by leading vendors, industry leaders, research analysts, trade associations and consultancies. This collection of articles cover a variety of topics relating to IT equipment, hardware & software being used in a wide variety of retail and retail supply chain environments across Europe. They look at market trends, improvements in technology and some thought provoking comment on all aspects of optimising and improving efficiencies in store and across retail supply chains.
Just 1 in 10 will base shopping decisions around maintaining Christmas traditions this festive season
Nov 03, 2020
Customer data analysis key to omnichannel marketing success and business growth
Nov 03, 2020
Companies which collate and analyse customer data, both online and offline, have grown 16% in the past year and are more than twice as likely to significantly exceed business goals and see strong return on investment (32% versus 14%), according to a global survey of 235 organisations with annual revenues of at least $50m.
Research exposes the £68.8 billion opportunity for UK retailers
Nov 02, 2020
Data released by global payments platform Adyen, outlines the economic gains that could be accessed by getting more UK retailers online.
Will your online store be invisible on Black Friday?
Nov 02, 2020
With 2020’s Black Friday and Cyber Monday predicted to be the busiest ever, eCommerce expert Optiseller is urging online retailers to make sure their data is in good shape, or risk missing out on valuable sales.
Retailers must optimise their pricing strategies for affordability during the golden quarter, says Oxylabs
Nov 02, 2020
Recent figures from the CBI has revealed ‘retail sales fell at its fastest pace in four months in October’ as people reined in spending in the face of more coronavirus restrictions.
Embrace automation or get left behind, urge ecommerce leaders
Oct 28, 2020
In recent months, more and more businesses have embraced digital than ever before in an attempt to claw back some revenue from factors such as store closures and physical restrictions. And, as a result, an omnichannel approach has never been so important.
PXP Financial launches new report ‘Supporting Businesses and Payments through COVID’
Oct 28, 2020
PXP Financial has launched its ‘Supporting Businesses and Payments through COVID’ report, advising businesses in gaming, retail and hospitality on best payments practice throughout the ongoing COVID-19 pandemic.
Manufacturing & Logistics IT - October 2020 edition
Oct 28, 2020
Welcome to the October 2020 edition of Manufacturing & Logistics IT. In this edition we feature a Special Technology Report looking in depth at the latest developments in the world of Automatic Identification & Data Capture and Mobile Computing.
Also included is an exclusive interview with Rob Goossens, CEO at Technologies Added...Plus regular updates on a number of other key technology and personnel-related areas.
Unboxing clever
Oct 27, 2020
For online retailers creating a memorable ‘unboxing experience’ has become increasingly important, says Charlie Walker, marketing director of Walker Logistics Ltd
Retail: How to harness automation to strengthen competition
Oct 27, 2020
By Stephen Burnley, Client Delivery Manager at technology and engineering company, Expleo.
It’s a no brainer that technology is central to retaining a competitive edge for most businesses today.
Critical issues:
The retail industry is facing a number of critical issues including:
- The rise of e-commerce: Online shopping has been growing rapidly in recent years, and it is now a major threat to traditional brick-and-mortar retailers. Online shopping has been growing steadily for years, and the COVID-19 pandemic has accelerated this trend. As a result, many brick-and-mortar retailers are struggling to compete.
- The need for omnichannel customer experience: In order to compete with e-commerce retailers, traditional brick-and-mortar stores need to offer a seamless omnichannel customer experience. This means that customers should be able to shop online, in-store, or through a combination of both channels, and have a consistent experience regardless of how they choose to shop.
- The need for data-driven decision making: Retailers need to use data to make better decisions about everything from product assortment to pricing to marketing. This means collecting and analyzing data from a variety of sources, including customer transactions, website traffic, and social media activity.
- The need for a strong workforce: The retail industry is facing a labor shortage, as many retailers are struggling to attract and retain qualified workers. This is a major challenge, as a strong workforce is essential for providing excellent customer service and meeting the demands of the ever-changing retail landscape.
- The need to stay ahead of the competition: The retail industry is constantly evolving, and retailers need to be able to adapt quickly to new trends and technologies. This means being open to change and being willing to invest in new initiatives.
In addition to the challenges mentioned above, the retail industry is also facing a number of other threats, including:
- Cybersecurity threats: The retail industry is a major target for cyberattacks, as retailers collect and store a large amount of customer data. Retailers need to take steps to protect their data from cyberattacks, such as implementing strong security measures and educating employees about cybersecurity threats.
- Regulatory compliance: Retailers need to comply with a variety of regulations, such as those related to data privacy, product safety, and labor laws. Failure to comply with these regulations can result in significant fines and penalties.
- Sustainability: Consumers are increasingly demanding that retailers adopt sustainable practices. Retailers need to find ways to reduce their environmental impact and improve their sustainability practices.
In addition to these critical issues, the retail industry is also facing a number of other challenges, such as:
- The increasing cost of doing business: The cost of rent, labor, and inventory is all rising, making it more difficult for retailers to make a profit.
- The threat of cybercrime: Retailers are increasingly vulnerable to cyberattacks, which can lead to data breaches and financial losses.
- The changing regulatory landscape: Retailers need to stay up-to-date on the latest regulations, which can be complex and time-consuming.
- The growth of artificial intelligence (AI): AI is already being used in the retail industry to automate tasks, personalize the shopping experience, and predict customer behavior. As AI continues to develop, it is likely to have a profound impact on the retail industry.
- The changing demographics of the customer base: The demographics of the global population are changing, and retailers need to adapt their strategies to reach these new customers.
The retail industry is constantly evolving, and retailers need to be prepared to adapt to change in order to survive and thrive. The critical issues discussed above are just a few of the challenges that retailers will face in the years to come. By understanding these challenges and developing effective strategies to address them, retailers can position themselves for success in the future.
