Peter Carlisle, vice president of nCipher Security, looks at how consumers can keep themselves safe during this year's Black Friday/Cyber Monday deals.
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.
How to hire, develop, and inspire Gen Z: A study from The Workforce Institute at Kronos
Nov 26, 2019
The Workforce Institute at Kronos Incorporated has announced the final segment of a global study examining the attitudes of Generation Z1– teenagers and early 20-somethings – in the workplace to reveal how employers worldwide can most effectively attract, develop, motivate, and retain talent within the next next-generation workforce.
Establishing end-to-end control of product labelling & customer-facing materials: 5 focal points for improvement for the year ahead
Nov 26, 2019
By Graham Francis, Channel Marketing Manager at global enterprise labelling solutions company Kallik.
In heavily regulated industries - including medical device manufacture, pharmaceuticals, chemicals and cosmetics - demand is intensifying for accurate, compliant and contextually-relevant product labelling.
2020 predictions for enterprise mobility
Nov 19, 2019
Android Continues to Expand in the Enterprise while iOS falters. Android has steadily evolved into a platform of choice for many enterprises, with a wide array of choices in rugged and consumer-grade devices available from a variety of manufacturers.
Returns to increase because of social media shopping
Nov 19, 2019
Growing social media commerce will cause one-in-five online shoppers to return more items, according to new research from international logistics company Advanced Supply Chain Group.
Research of 2,000 online shoppers shows 34% will make more impulse buys as social media sites make it easier to buy products direct through in-platform selling tools.
Are robots finally getting a good reputation? Advanced report reveals workers’ growing appetite for disruptive technology
Nov 19, 2019
A new report from Advanced, one of the UK’s largest software and services providers, has revealed workers’ increasing hunger for innovation to improve the way they work. Findings from its Annual Trends Survey for 2019-20show that disruptive tools are fast earning their spot as must-have tools in the day-to-day workplace.
Tis nearly the season to be jolly
Nov 19, 2019
By Matthew Robertson, Co-CEO, NetDespatch.
As the kids return to school after half-term and with Halloween and Bonfire Night behind us, we are now well and truly on the countdown to Christmas and retailers are in the midst of gearing up for Peak Season.
Black Friday: more than a bargain
Nov 19, 2019
By David Griffiths, Senior Product Marketing & Strategy Manager, Adjuno.
It’s that time of year again. Retailers should now be in full swing with their Black Friday and Cyber Monday preparations as they look to build on the success of last year’s shopping phenomenon. In fact, Black Friday brought in $6.2 billion in online sales last year, a growth of 23.6%, with over 165 million people shopping over the weekend.
Retail’s weakness is cyber crime’s opportunity
Nov 12, 2019
Black Friday kicks off the festive shopping season 29 November this year, with millions of shoppers expected to take advantage of low prices. In 2018 alone, online Black Friday sales totaled $6.22bn; up 23% on the previous year’s figures. 2019 presents an excellent opportunity for retailers to not only increase revenues again, but elevate brand voice and extract valuable customer data leading to potential repeat sales later on.
Invisible payments to take the stage as the new commerce norm
Nov 12, 2019
Payvision, a global fintech and omnichannel payments provider, has released a new ebook exploring the future of commerce payments. The research looks into how the next generation of payments is reinventing the shopping experience, giving merchants clear insight into key strategic retail trends.
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.
