Ultracomms, the provider of PCI DSS compliant secure telephone payment solutions, has warned businesses that they must urgently review the way they take card payments over the phone after the Payment Card Industry Security Standards Council (PCI SSC) issued the latest update to its guidelines for telephone payments.
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.
Ultracomms warns businesses to review processes as telephone payment security watchdog issues strict new guidelines
Dec 05, 2018
Fickle Fashion: Over 80% of consumers are buying clothes they never wear
Dec 05, 2018
Fickle fashion is killing off sustainable clothing as eight in 10 (83%) consumers admit to buying items they never wear, according to data from the Fashion Retail Academy.
November sees a recovery in store footfall, but Black Friday loses momentum
Dec 04, 2018
If further evidence was needed that Black Friday has altered shopping patterns over the Golden Quarter, then this year’s store footfall data provides it.
80% of UK shoppers expect retailers to better tackle plastic waste
Dec 04, 2018
Recent independent research commissioned by compostable packaging company TIPA reveals 80% of UK shoppers believe that the retail industry should be doing more to tackle the issue of plastic waste, while 6 in 10 (63%) feel it is retailers’ responsibility to reduce the environmental impact of plastic waste.
More than half of diners would eat food made by robots - survey
Dec 04, 2018
A new survey reveals that more than half of restaurant diners would eat food made by robots – if it tasted good.
Consumers three times more likely to shop with independent shops over next five years than large brands
Dec 04, 2018
In light of the recent difficulties faced by high street giants like Debenhams, House of Fraser and Claire’s, British consumers have been revealed to be three times more likely to shop more with independent stores than large shops over the next five years according to findings from marketing automation suite Pure360.
New research confirms businesses will pivot to a ‘voice first’ strategy within five years
Dec 04, 2018
Red Box, the platform for voice, has announced the results of a global survey of CIOs, general C-suite and IT management enterprise employees into their views of voice capture in the enterprise, showing the majority of businesses are capturing only partial voice data sets and are not able to make the most of this highly valuable data set as it is largely inaccessible.
SATO - Embracing the IoT era in retail
Nov 27, 2018
Retail is rapidly changing, with a huge increase in the use of technology across every element of the process, from concept to consumer. In particular, the increased prevalence of the ‘Internet of Things’ (IoT) in the retail sector means businesses must adapt and invest in technologies to support this new era of network-controlled device management and automation.
Are we reaching an ethical tipping point?
Nov 27, 2018
The UK is a nation addicted to fashion, buying five times more clothes today than in the 1980s. But 400,000 tonnes of clothes end up in landfill every year – and there is growing awareness that the way these clothes are produced and discarded is having a massive impact on the environment, from water consumption during production to marine contamination from microfibres.
As younger, more mindful consumers increasingly dominate the fashion customer base, are we at an ethical tipping point, asks Craig Summers, UK Managing Director, Manhattan Associates.
Only 36% of top UK retailers fully secure online store
Nov 27, 2018
The shopping season is upon us and, like every year, many of us choose to buy online instead of trawling through the shops. But do UK retailers ensure shoppers can trust their websites?
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.
