New research from global financial technology provider FIS has found that UK consumers remain wary of anti-fraud technologies like biometrics, while at the same time are growing increasingly worried about having their personal information hacked.
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.
UK shoppers shun fingerprint scanners and facial recognition in favour of traditional passwords
Dec 06, 2019
Société Générale Wins Best Global Deployment Award Powered by GigaSpaces
Dec 05, 2019
GigaSpaces, the provider of InsightEdge, the in-memory real-time analytics processing platform, has announced that Société Générale was honored at the 25th annual American Financial Technology Awards in New York as the winner of best global deployment powered by GigaSpaces in-memory computing platform.
Google/Looker Competition and Markets Authority enquiry
Dec 03, 2019
Google/Looker Competition and Markets Authority enquiry: rival data CEO says Google deal `fair enough and makes perfect sense`.
The decision by the Competition and Markets Authority to consider an investigation of the acquisition of Lookers by Google, was announced yesterday.
Fashion chains invest in new POS software to modernise the customer experience
Dec 03, 2019
Global POS Software 2019, the latest study by strategic research and consulting firm RBR, shows that there were more than 300,000 new POS software deployments in the year to June 2019. Most were store-driven, with new points of sale created either in existing or additional stores, but around a third was a result of retailers installing a different supplier’s software.
Uncertainty continues to impact supply chain risk, finds Dun & Bradstreet and Cranfield University
Dec 03, 2019
The ongoing uncertainty around Brexit is encouraging many manufacturers and retailers to consider other supplier locations in low cost, higher risk countries to avoid possible trade barriers. The latest analysis in the Global Supply Chain Risk Report, produced quarterly by Cranfield University and Dun & Bradstreet, found marked increases in Supplier Criticality (up 2%) and Global Sourcing Risk (up 4.8%) in Q3 2019.
Epson reaffirms its commitment to COP25
Dec 03, 2019
Global technology firm, Epson, has reaffirmed its commitment to decarbonisation (reducing greenhouse gas emissions) in advance of the 25th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP25) to be held in Madrid, Spain from 2 to 13 December 2019.
Huge numbers of consumers would wait longer for goods if delivered ‘more sustainably’ - survey
Dec 03, 2019
A convenience trends survey commissioned by leading International branding and customer experience agency I-AM has revealed that almost three-quarters of consumers (74%) would be happy to wait longer for goods if the delivery method was more sustainable.
Barcoding, Inc. shares new research and resources for businesses migrating to Android mobile computing in 2020
Dec 03, 2019
Barcoding, Inc. has released initial findings from its comprehensive research project that addresses Windows Mobile going end of life in 2020. Rugged device manufacturers have selected Android as the new operating system, requiring a tailored technological shift for all enterprises leveraging Windows Mobile devices for their automated data collection processes.
How to Keep Sensitive Documents Safe
Nov 28, 2019
.... by James Daniels, freelance writer.
Every business has sensitive documents and data that they need to keep safe. This could be customer information, staff data, strategy plans, financial documents, or anything else which needs to be kept safe and away from outside sources. It is important that every business owner consider ways in which they can keep any sensitive documents safe particularly in a time where cybercrime is on the rise and a huge problem affecting businesses of all sizes and in all industries.
New report from One Identity spotlights significant gaps in third-party user access management oractices globally
Nov 26, 2019
One Identity has released new global research revealing that many organisations across the globe fall short of effectively managing access for third-party users, exposing them to significant vulnerabilities, breaches and other security risks.
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.
