For retailers, the busiest season of the year is just around the corner. Online stores are gearing up for peak weeks, with a parcel volume surge of up to +79.4 percent.
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.
5G routers keep the UK’s pop-up shops connected
Nov 08, 2023
On average, 36 shops close their doors across British high streets every week. However, many small business owners still bet on traditional retail, with an 18 per cent rise in pop-up shop openings in the past year.
Global tablet shipments up 8% sequentially as market revives before holiday season
Nov 08, 2023
According to the latest Canalys data, worldwide tablet shipments reached 33 million in Q3 2023, marking a 7% annual decline. But this represents an 8% sequential increase, reflecting a revival of the tablet market ahead of the crucial holiday season and the strong performance of new entrants in the space.
9 in 10 IT leaders say their IT landscapes have become more complex to manage and maintain
Nov 08, 2023
New research from Daisy Corporate Services (Daisy) has revealed 90% of IT leaders at large UK organisations believe their IT landscape has become more complex to build, manage and maintain.
Wish releases inaugural ‘Anti-Counterfeiting Report’ as it continues to crack down on counterfeiters
Nov 07, 2023
ContextLogic Inc., the mobile e-commerce platform, has released its inaugural ‘Anti-Counterfeiting Report’. The publication of the report represents a significant step in Wish’s ongoing commitment to combating the listing and sale of counterfeit goods on its platform.
Retail logistics teams deliver ecommerce success - here's how
Nov 06, 2023
By Johan Hellman, Vice President, Product & Carrier at nShift.
Ecommerce sales are tipped to hit $8.1 trillion by 2026. So it’s no surprise that retailers of all sizes are keen to get hold of the biggest possible slice of the pie. Retail logistics and warehouse teams are the lynchpin of ecommerce operations. Here’re just four ways that logistics teams contribute to multichannel retail and ecommerce success.
61% of UK business leaders say connecting their supply chain data from different sources is a top business priority
Nov 06, 2023
Supply chain leaders cite the need to reduce costs, improve the customer experience and expedite delivery times as their top-three challenges, yet fewer than half are leveraging their supply chain data to inform their strategy and 14% aren’t using supply chain data at all to make decisions.
Bazaarvoice Shopper Experience Index: 81% of shoppers say they’re reducing their spending on non-essential items due to the economy
Nov 06, 2023
Bazaarvoice, Inc., the provider of full-funnel authentic user-generated content (UGC) solutions, has released its annual Shopper Experience Index, based on a survey of more than 1,000 UK shoppers.
AI humans in livestreaming: A game-changer for brands
Nov 01, 2023
By Arnold Ma, CEO of Qumin.
In recent years, China has emerged as a global leader in the field of AI, constantly pushing the boundaries of technology and innovation. One exciting development from the country's tech landscape is the use of AI humans to livestream content around the clock.
Positive jobs growth overshadowed by late payments for UK small businesses
Nov 01, 2023
Despite tentative jobs growth, small businesses experienced slow sales growth and rising late payment times in the three months to September, according to the latest data from global small business platform Xero.
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.
