Companies are increasingly cautious over taking risks in their supply chain, with fears over their level of dependence on suppliers and sourcing from high-risk countries dominating their thinking, data in a new report shows.
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.
Tech workers more willing to turn whistleblower in wake of scandals - data from Indeed
Mar 26, 2019
The UK’s tech professionals are now more likely to blow the whistle on an employer’s misbehaviour in the wake of scandals in the sector, according to exclusive new research from job site Indeed.
Eyewear retailers lose over US$26 billion due to poor fitting frames
Mar 26, 2019
A new report by Fuel3D, provider of 3D capture and measurement solutions, reveals that poor fitting eyewear is costing opticians and eyewear retailers more than US$26 billion a year.
Keeping ahead of the development curve – ERP Special Technology Report
Mar 26, 2019
Manufacturing & Logistics IT spoke to a number of experts from the vendor and analyst communities about current trends and areas of development within the world of ERP – including those concerning integration, digital optimisation and the Cloud.
Participants include Panorama Consulting, Frost & Sullivan, Aberdeen Group, Gartner, Epicor, QAD.
Boeing 737 MAX 8 grounding could impact on international e-commerce and parcels, warns ParcelHero
Mar 19, 2019
The grounding of the world’s entire Boeing 737 Max 8 fleet could mean delays to overseas freight, warns the international delivery expert ParcelHero.
David Jinks MILT, Head of Consumer Research at ParcelHero says: ‘Across the world, anyone planning to send a parcel or waiting for a typical 2-3-day international parcel service could find unexpected delays.’
B2B ecommerce lagging behind B2C for customer experience
Mar 19, 2019
Poor product visualisation is preventing almost a quarter of B2B customers from making purchases online, according to a new report by full-service e-commerce agency PushON.
Age of uncertainty: UK employees calling out for clarity on employers’ Brexit plans
Mar 12, 2019
A new Right Management study, Brexit: Age of Uncertainty, reveals the UK workforce’s anxieties as Brexit negotiations unfold. The study, examining the perspectives of employees across the UK in the run up to Brexit*, found just 11% say their organisation has clearly communicated its Brexit plans to employees.
Retails’ innovative thinking will lead to happier times
Mar 12, 2019
UK retail continues to endure turbulent times. Last year witnessed a litany of store closures on the high street. Traditional retailers have been criticised for not adapting to change, failing to meet customer expectations and not moving quickly enough with digital developments. Online channels are perceived as more convenient and competitive and are favoured by a growing population of shoppers.
An underperforming high street: can technology tempt customers back?
Mar 12, 2019
Andy Martin, Morphean's Retail Segment Leader, discusses how VSaaS isn't just keeping staff and customers safe; it also provides the intelligenc that can enhance the instore experience.
Retailers suffering from uncertainty - Fujitsu comment
Mar 12, 2019
The British Retail Consortium (BRC) and KPMG has released stats revealing that total sales growth dropped to 0.5% in the year to February, down from 1.6% a year earlier.
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.
