Ezra, the global provider of digital coaching, presents some tips on getting the most out of the Christmas period.
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.
Citius, altius, deminuous? Why small is the new big in fulfilment centres
Dec 25, 2020
By Alex MacPherson,Manhattan Associates
The pandemic has accelerated the proliferation of ecommerce by up to six years according to certain reports and the grocery industry has been one of the most (positively on the whole) affected by this surge in online sales.
Five ways to ensure cyber security this Christmas
Dec 22, 2020
Web hosting company Fasthosts offers its top five tips for keeping customers secure this Christmas.
5 ways small businesses can grow after emerging from disruption
Dec 22, 2020
The pandemic made 2020 a difficult year for many small businesses, as many closed permanently. But other small companies had success despite the surge in outbreaks and are hoping to build on those achievements in 2021.
Black Friday 2020: Gifts and self-care among leading purchases for loyalty programme shoppers in this year's unusual run-up to Christmas
Dec 16, 2020
Black Friday loyalty programme shoppers in 2020 spent significantly more than in previous years on items to show their love and appreciation for friends, family and themselves.
Five ways to boost ecommerce packaging performance
Dec 16, 2020
The pandemic has been a catalyst for change, way beyond our expectations. Ecommerce has been propelled to new heights, with online order volumes swamping conventional fulfilment centres. Now, as a second wave sweeps the country, are businesses ready for the predicted mega-peaks of a Covid Christmas? By Jo Bradley, Business Development Manager for packaging solutions at Quadient.
Post-Brexit Product Compliance for CE-marked Products - what you need to know
Dec 16, 2020
With less than 30 days to go until the end of the Brexit transition period on 31 December 2020, there are growing concerns as to what the impact of leaving the EU will be on product labelling and compliance – particularly for CE-marked products. CE is the administrative marking that indicates conformity with health, safety, and environmental protection standards for products sold within the European Economic Area.
40% of small business employees worried they’ll be blamed for data breaches at work
Dec 16, 2020
Avast (LSE:AVST), the digital security and privacy products provider, has found that almost 40% of small business employees think that a staff member who unknowingly clicks a malicious link would be held personally responsible for a data breach, which could be encouraging employees to keep quiet rather than flagging a potential threat.
’Tis the season for confusion: marketers are unprepared for the disruption caused as consumer shopping behaviour is upended
Dec 16, 2020
Seismic shifts in consumer shopping behaviour are happening in the run up to the festive period, according to new research from BlueVenn.
COVID sparks massive shift towards sustainable Christmas shopping
Dec 16, 2020
The Covid-19 pandemic has led to a surge in interest in sustainability with almost a fifth (19%) of people in the UK planning to buy more sustainable Christmas gifts this year compared to last, according to research by the Fashion Retail Academy¹.
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.
