A UKWA report on the size and make up of warehousing real estate in the UK, unveiled at the UKWA National Conference, provides powerful evidence of the critical importance of warehousing....says UKWA CEO Clare Bottle.
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.
Ranked: The most online shopping obsessed cities in the UK
Apr 02, 2024
With over 80% of the UK’s population making online purchases in 2023, it’s safe to say online shopping has become an integral part of our modern consumer culture. Across the United Kingdom, cities are embracing e-commerce in unique ways - but who loves online shopping the most?
Enterprise solutions sculpting tomorrow
Mar 27, 2024
By Annette Childs, freelance writer.
In business history, there have been moments that fundamentally change how companies operate, introducing new paradigms and redefining best practices. Right now, we're in the midst of such a transformative phase, where traditional business systems are undergoing significant changes.
3 supply chain approaches to beat the global permacrisis
Mar 27, 2024
By Craig Summers, Vice President, Northern Europe & MEA, Manhattan Associates.
‘Permacrisis’ has become such a talked about topic over the last four years that it has entered the common vernacular; so much so that in 2022, it was actually voted Collins Dictionary’s word of the year.
Manufacturing & Logistics IT March 2024 edition
Mar 27, 2024
Featuring a Special Technology Report looking in depth at the latest developments in the world of Transportation Management solutions.
Also included is a ‘Cover Story’: Business leaders have begun the early part of 2024 with an increased level of optimism about their organisation’s future growth compared to 12 months ago....
Rise of AI will create a new skills ‘glass ceiling’
Mar 26, 2024
Non-graduates, silver surfers and those in lower socio-economic brackets will be left behind as the rise of AI creates a ‘skills glass ceiling’. That’s according to the latest Robert Half Jobs Confidence Index (JCI) – an economic confidence tracker produced in partnership with the Centre for Economics and Business Research (Cebr).
Why human risk management is key to data protection
Mar 26, 2024
By John Scott, Lead Cyber Security Researcher for CultureAI.
Personal data is constantly being processed and transferred in numerous ways – whether in healthcare applications, store loyalty programmes, during purchases or while browsing online.
UK inflation falls to 3.4% in February: Industry reaction from online retail expert
Mar 25, 2024
UK inflation has fallen to its lowest level in more than two years, with consumer prices rising at an annual rate of 3.4% in February, down from 4% in January.
More than half of businesses plan to adopt AI within the next two years
Mar 20, 2024
Artificial intelligence (AI) has rapidly transitioned from a science fictional concept to a technology that is reshaping businesses worldwide.
How retailers can meet the demand for sustainable supply chains
Mar 20, 2024
By Eric Linxwiler, Senior Vice President of TradeBeyond.
Every month brings new evidence of how dramatically consumers’ growing preferences for sustainability are reshaping their shopping habits. A new study by NIQ found that 69% of global consumers say that sustainability and ESG concerns have become increasingly important to them over the last two years.
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.
