Warnings from government this week of queues of 7,000 trucks in Kent and 48-hour delays at Dover, have sent shivers down the spines of logistics and supply chain managers operating to ‘just in time’ principles.
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.
Researchers use tweets to Analyse supply chain issues
Sep 29, 2020
"The global supply chain has been significantly impacted by COVID-19," according to Michael Wilson, vice president of marketing and packaging at AFFLINK, the sales and marketing organisation for distributors in the US.
How COVID has changed our relationship with waste
Sep 29, 2020
Aside from being a traumatic time for all, COVID-19 has changed the trajectory of the world. For one, before the pandemic, it had finally seemed possible to imagine a future without plastic. But, with a global pandemic on our hands, there’s been a need for rigid sanitation and some rapid adaptations to our daily life. With this, our plastic usage has been creeping back up.
Why an Omnichannel Strategy for Retailers as Important as Ever
Sep 23, 2020
By Ed Smith,freelance writer
Prior to the coronavirus outbreak, you may have read that offline marketing channels such as billboards had seen a significant spike in demand over the last few years.
Five simple ‘health check’ questions which can help unlock supply chain efficiency and resilience
Sep 23, 2020
Covid-19 has placed global supply chains under unprecedented levels of disruption and uncertainty. From consumers’ stock-piling commodities that left supermarket shelves empty, to supply issues of healthcare Personal Protective Equipment (PPE), the Supply Chain has never been under the spotlight so much as it gains new found respect.
Mobile transaction volume to recover from a COVID-driven decline of 8.7 billion in 2020, returning to pre-pandemic 2019 levels by 2022
Sep 23, 2020
A new study from Juniper Research has found that mobile ticketing transaction volume, including tickets purchased via contactless, in-app, and mobile messaging, will recover to pre-pandemic 2019 levels by 2022.
‘There’s no need to stockpile,” says ParcelHero
Sep 23, 2020
As online grocers report a spike in orders and shoppers post pictures of newly emptied shelves, ParcelHero says we must all learn the lessons of March and avoid panic-buying ahead of a second coronavirus wave. It also warns pandemic profiteers, who buy cleaning products now to sell at a higher price during lockdown, won’t get away with it a second time.
DIY fever prevents a second retail slump but it’s the High Street that really needs fixing up, says ParcelHero
Sep 22, 2020
The Office of National Statistics (ONS) retail figures for August show that the retail bounce-back has stumbled, says the home delivery expert ParcelHero. The value of all retail sales grew by just 0.7% in August - not the significant recovery stores had been hoping for and a marked slowdown from July’s 4.4% jump.
New CrowdStrike Report reveals more cyber-attacks in the first half of 2020 than the whole of 2019
Sep 22, 2020
Cybersecurity expert CrowdStrike has released its CrowdStrike Falcon OverWatch 2020 Threat Hunting Report which reveals the company has stopped 41,000 potential intrusions in the first half of 2020, compared to the 35,000 it saw in the whole of 2019.
Managing disruption in intralogistics
Sep 22, 2020
The rise of e-commerce has brought about significant disruption to traditional logistics activities, demanding constant adjustment to best meet changing demand. Similar adaptability is vital in intralogistics to ensure orders are processed and fulfilled effectively. In this article, Stephen Hayes, managing director of Beckhoff UK, explains how to establish scalable, adaptable intralogistics activity from the warehouse floor up.
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.
