The average number of alcoholic beer and cider ranges stocked in UK supermarkets is declining, as trends towards health-conscious consumption are leading consumers to opt for alcohol-free alternatives, suggests new data from ecommerce insights company, Edge by Ascential.
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.
Smaller e-retail businesses should emulate larger ones – but sooner
Aug 13, 2019
By Alex Mills, Sales & Marketing Director, ProSKU.
If you’re running a growing e-retail businesses your main priority is to market your products, win customers and satisfy their orders. So until order volumes hit a certain point you probably don’t need to worry about a great deal else, except of course your bank overdraft! And for most growing e-retail businesses getting orders out of the door isn’t usually the biggest problem.
How can food stockpiling be managed amid a no-deal Brexit?
Aug 13, 2019
Following news that Domino’s Pizza Group has spent £7m stockpiling ingredients in preparation of a no-deal Brexit, companies across the supply chain are facing the challenge of finding additional storage and cooling solutions to cope with demand.
Traka banks white paper on the changing nature of the retail landscape
Aug 13, 2019
Traka has launched a new downloadable white paper to open a discussion on the changing nature of retail banking in the UK, using latest case examples to consider branch management and shifting customer expectations.
Why true standardisation is key to harmonisation
Aug 06, 2019
By Arnaud Crouzet, VP Security & Consulting at FIME.
Standardisation is prolific in any digital sector and the payments world is no different. However, despite the existence and widespread adoption of global payment standards, we’ve still yet to achieve true standardisation. This is a pertinent and complex issue for today’s market. But what are the complexities making interoperability such a priority? And how can we achieve harmonisation in payment standards?
Sports technology market to reach USD 33.63 billion by 2024: Knowledge ourcing Intelligence
Aug 06, 2019
The sports technology market is estimated to reach $33,629.367 million by 2024 as a result of the growing demand for data-driven operations and focus on improving fans engagement: Knowledge Sourcing Intelligence.
70 Percent of organisations will be using Security-as-a-Service by 2021
Aug 06, 2019
Thycotic, a provider of privileged access management (PAM) solutions to 10,000 organisations worldwide, including 15 percent of the Fortune 1000, has released the findings from its 2019 Global Research Report: ‘Security-as-a-Service on the Rise’, which is based on interviews with IT managers and technology decision makers at the KuppingerCole European Identity & Cloud conference in Munich in May.
Shoppers’ response to smart speakers is muted
Aug 06, 2019
Recent widely quoted predictions have claimed Voice shopping will grow to US$40bn (£32bn) in 2022, up massively from $1.8 bn (£1.4bn) in 2018 across the US and $0.2bn (£0.16bn) in the UK.
Rising demand for secure data analytics drives strong half-year results for Panintelligence
Aug 06, 2019
Fast-growing data analytics and business intelligence (BI) software developer Panintelligence has reported half-year financial results showing an increase in turnover of more than 20%.
NETSCOUT’S latest Threat Intelligence report uncovers prime targets for cyber criminals as attacks accelerate
Aug 06, 2019
NETSCOUT SYSTEMS, INC., provider of service assurance and security, has announced the findings of its Threat Intelligence Report for the first half of 2019.
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.
