Retailers around the globe are cautiously reopening their doors after facing perhaps the most challenging times in decades, while in some areas of the world the toughest times may still lie ahead.
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.
e.fundamentals report highlights tectonic-sized shift in consumer shopping behaviour following Coronavirus Pandemic
Aug 05, 2020
e.fundamentals, the digital shelf analytics provider, has revealed the results of a comprehensive and exclusive new survey in partnership with YouGov.
Commissioned to uncover how the coronavirus outbreak has changed the way shoppers purchase grocery products, the e.fundamentals / YouGov UK Shopper Insights Report 2020 was designed to find quantifiable evidence to explain widely observed consumer shopping trends in the British grocery market.
The Internet of Robotic Things: How IoT and robotics are evolving to benefit the supply chain
Aug 05, 2020
The Internet of Robotic Things (IoRT) is a rapidly evolving technology. In just a few decades, industrial robots have become commonplace in factory settings across the world, and they only continue to gain popularity for their productivity and profitability.
Nordic enterprises embrace SAP Cloud Platform for mobile applications
Aug 04, 2020
Enterprises in the Nordic region are increasingly adopting the SAP Cloud Platform to build mobile applications and deliver services to customers while COVID-19 social distancing guidelines remain in place, according to a new report published by Information Services Group (ISG), the global technology research and advisory firm.
Online retailers have no need to fear returns
Aug 04, 2020
For online retailers with an efficient and professional logistics partner, high volume returns should hold no fear says Charlie Walker, marketing director of Berkshire-based supply chain and online fulfillment specialist, Walker Logistics.
Historic moment as women account for 50% of online car purchases for the first time
Aug 04, 2020
More women have headed online to buy cars in recent months than ever before through internet car supermarket BuyaCar.co.uk, accounting for half of all sales for the first time ever.
Optimising e-commerce business for the new normal
Aug 03, 2020
The global COVID-19 pandemic has undoubtedly disrupted the retail sector significantly. With many stores forced to close their doors over lockdown, there has been a sudden and rapid rise in online shopping.
Labelmaster survey examines impact of COVID-19 on hazmat supply chain
Aug 03, 2020
Labelmaster, the provider of products, services and technology for the safe and compliant transport of dangerous goods (DG) and hazardous materials (hazmat), has announced the results of its fifth annual 2020 Global Dangerous Goods Confidence Outlook.
Wholesale & retail business mileage increase highlights start of COVID-19 recovery
Jul 29, 2020
Customer data analysis by Allstar Business Solutions has revealed the easing of lockdown has prompted the green shoots of recovery in business travel, with an estimated 54 million extra miles travelled by wholesale and retail companies in June compared to May - up almost half (46.0%) month-on-month.
The last mile of logistics: Will we soon be getting parcels from a robot courier?
Jul 29, 2020
CEP service providers face major challenges. Firstly, they have to cope with the high volume of orders, which – driven by e-commerce – is constantly increasing.
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.
