Buying and selling online has never been easier and with eCommerce growing from strength to strength, Mark Harper of HSM investigates and questions the sustainability issues around use of packaging material in online selling.
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.
Interest in AR/VR grows during COVID-19 pandemic but market needs to evolve, says GlobalData
Jul 08, 2020
The virtual reality (VR)/augmented reality (AR) market – collectively known as extended reality (XR) – has been on the cusp of becoming the next mainstream platform, but it has remained niche for many years thanks to technological limitations and scant content.
Consumers still feel cautious about returning to stores
Jul 08, 2020
The coronavirus outbreak has had severe consequences for retailers and, according to the report, 48% of shoppers are now scared to shop in store as a result of the pandemic. Nigel Naylor-Smith, Head of Retail and Hospitality, Fujitsu UK, discusses why he believes retailers will still need to prioritise their digital offerings to appeal to the change in consumer demand as lockdown measures ease.
Avoiding planning pandemonium in a pandemic: How can you forecast in the new normal?
Jul 07, 2020
During the pandemic, the foundations on which retailers, brands and Consumer Products companies rely to determine trade volumes, pricing and promotions have been shaken and, in some cases, broken.
UK online retail rises sharply as shops reopen
Jul 07, 2020
Consumer confidence in the UK appears to be rising as online retail grew sharply since the reopening of shops on the 15 June, data from ecommerce expert Emarsys shows.
Shoppers must say ‘No’ to new minimum charge on home deliveries, says ParcelHero
Jul 06, 2020
The Government is planning to consult the public about a new standard delivery charge for home shopping. Just like the plastic bag fee in supermarkets, it aims to discourage overuse of consumer deliveries by making shoppers think again. ParcelHero argues the plan is actually a ploy to replace lost business rates income and that home deliveries – the consumer’s saviour during lockdown – are far greener than shopping by car.
Consumer driven strategies will be vital for retailers to bounce back from lockdown, says B-Stock
Jul 03, 2020
As stores across Europe begin to re-open their doors, retailers who have survived lockdown will need to navigate the uncertainty of the retail landscape and adapt to new market strategies for business to continue, urged Giorgio Vitale, Head of Business Development EMEA at B-Stock.
IPIA says printers should be logistics businesses’ first line of defence for protective equipment
Jun 30, 2020
As the country prepares for the next phase of businesses reopening, the Independent Print Industry Association (IPIA) claims its members are one of the best placed to not only produce protective equipment like face visors, masks and sneeze screens but also develop further products and services to reduce spread of the Covid-19 virus.
How retailers can implement temperature screening to ensure customer safety post-lockdown
Jun 30, 2020
As lockdown restrictions are being gradually eased across the country, industries of all types must now consider additional health and safety measures, to ensure a safe re-opening.
eCommerce sustainability: managing your responsibilities
Jun 30, 2020
Consumers are more conscious than ever about how their shopping habits affect the world at large.
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.
