In this world we can often say we have too much choice and not enough time. B2B decision-makers are finding much the same is true for them, with the influx of new technologies available to their businesses proving too much to keep up with.
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.
GDPR is an Opportunity for Retailers to Better-Understand Customers
Jul 11, 2018
By Ashish Koul, President of Acqueon.
In 2017, UK consumer spending slumped to its lowest level in five years, making the fight for the customer an even more chaotic battle scene.
Google’s mobile speed algorithm update: is your online business ready?
Jul 11, 2018
Page speed really matters to web users, which is why Google has always taken it into account within its desktop search rankings. As from this month (July 2018), however, it will also be factored into Google's mobile search rankings as part of its new 'Speed Update'.
Why ERP is the key to unlocking the future of retail
Jul 11, 2018
Drop shipping has the potential to completely change the world of retail. However, as John Weber, Director of Business Development and Product Management at Aptean, explains, retailers need an effective ERP system to truly make the most of this new retail reality.
Retailers data only 75% accurate, warn industry specialists, while chatbots reveal most common customer enquiries to be about stock availability
Jul 11, 2018
Detailed analysis by retail tech specialists at Detego has confirmed that the average retailers data is only about seventy-five percent accurate when it comes to knowing exactly what inventory is actually in stock at any particular time.
Ensuring order visibility: How control towers can help retailers meet the customer promise
Jul 11, 2018
By Bobby Shome, Global Business Development Director, Centiro.
In today's competitive market, ensuring delivery success is more important than ever for retailers. Around the world, customer expectations about the standard of product delivery continue to rise, with those in the more mature ecommerce markets growing increasingly picky.
The future of the contact centre - genuine omni-channel engagement
Jul 01, 2018
By Joe Rabah, Managing Director for EMEA, RMG Networks.
We are all familiar with contact centres; they are the places we call when we feel unhappy with, confused or annoyed by a brand, or when we need information about a product or service.
Mobile workforce: five ways to empower the GenZ workforce
Jul 01, 2018
By Chris Noble, Director at StoreForce.
A LinkedIn survey looking at how millennials are changing jobs and sectors showed that, once again, the retail industry was one of the losers. Asked why they were changing careers, millennials cited a lack of opportunities for career advancement, closely followed by dissatisfaction with compensation and benefits.
Retailers to invest in machine learning and voice search to improve digital marketing in 2018/19, new survey finds
Jul 01, 2018
The digital marketing challenger agency, QueryClick, has released The CMO Performance Report 2018, which has found a significant number of retailers plan to invest in transformative technology including machine learning and voice search to enhance their digital marketing campaigns.
Consumer research reveals 73% of Generation Z customers still shop in-store
Jun 27, 2018
Fluent Commerce, the cloud-native order management company that enables omnichannel retailers to out-convenience their competitors, has released the results from its latest consumer research, revealing that the majority (73%) of Generation Z still shop in-store.
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.
