The spending power of disabled customers in the UK is estimated at £249bn. But the high street is yet to maximise income from the ‘Purple Pound’ because of a lack of awareness, poorly-maintained facilities or assistive technology that could smooth the interaction between customer and staff.
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.
In the loop: how technology can enhance customer service for the hearing impaired –UK’s largest disabled group
Nov 27, 2018
UKFast Network sees 30% Black Friday spike
Nov 27, 2018
Traffic to the UKFast network, which hosts thousands of eCommerce websites and booking platforms, has seen a massive 30% increase in web traffic this Black Friday, compared to Black Friday last year.
Peak evolution – will the expanding peak period benefit delivery?
Nov 20, 2018
These days, planning for peak retail season starts the moment the last peak ends. In a bid for continuous improvement retailers and carriers forensically review what went well, which new tactics and technologies worked, which didn’t and where refinements can be made.
Making the case for Transportation Management System….a BluJay Solutions white paper
Nov 20, 2018
In a world where supply chains have become increasingly complex and global in nature, managing with spread-sheets and phone conversations with carriers are no longer viable options
Download this white paper to see how a software as a service (SaaS), multi-tenant transportation management system puts power and efficiency into the hands of any company that wants to cut freight costs, improve visibility, and optimise activity in today’s competitive business environment.
Why personalisation means good retail
Nov 20, 2018
Retailers are all chasing a personalisation dream, aiming to tailor in-store and online propositions to ensure their customers feel like they’ve received relevant, impactful, and delightful experiences.
Online sellers fail to use own data to improve business performance
Nov 20, 2018
Online sellers are using e-commerce solutions to gather better data insights, yet many are failing to use it to make better business decisions, new research by Sana Commerce has found. Whilst 42% are using data to improve customer service, only 24% are using data for buying behaviour analysis and two thirds are not using it to improve the user experience.
Waitrose and Ocado lead as best supermarkets for shopping vegan online
Nov 13, 2018
Waitrose and Ocado are the best supermarkets for consumers looking to shop for vegan food online, a study from eCommerce analytics platform, E Fundamentals, has found.
Fast search and free shipping top the list of ‘ecommerce must-haves’ this Christmas
Nov 13, 2018
Fast search functions and free shipping are the keys to ecommerce success this holiday season. That’s according to a new research report from Episerver, outlining the 26 best practices for online retailers this Christmas.
84% of UK workers who use a laptop report an increase in workplace productivity
Nov 13, 2018
The once commonplace desktop PC has been relegated to Britain’s dusty workplace store room, joining relics such as the fax machine and the landline phone, while the retail sector adopts tablets and smart devices at breakneck speed and ahead of other business sectors.
15% of UK shoppers buy from overseas every day
Nov 13, 2018
British consumers are increasingly turning to overseas retailers for their fashion fix according to research by delivery management company Whistl.
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.
