Manufacturing & Logistics IT spoke to a number of experts from the vendor and analyst communities about recent trends and ongoing areas of development within the world of Transportation Management Systems.
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.
No deal could add £7.8bn to the cost of retail goods
Mar 27, 2018
New research from Retail Economics and Squire Patton Boggs shows that £7.8bn could be added to the cost of retail goods if the UK fails to agree a deal with the EU. The risk of higher costs from new tariffs is greatest for food and drink from the EU.
UK consumers demand better, more detailed answers from brands – or they’ll move to rivals
Mar 27, 2018
Providing more detailed, personalised answers to consumer questions on their channel of choice is now key to winning and retaining customers – but brands in the UK are failing to meet rising expectations.
Compliance and regulations will transform the contact centre
Mar 27, 2018
For well over a year, companies across Europe and beyond have been aware of the new EU General Data Protection Regulation (GDPR) as it looms on the horizon.
IT professionals expect their salaries to rise in 2018
Mar 27, 2018
New research from Robert Walters has revealed that 59% of IT professionals are expecting their salaries to rise 2018. 55% are also expecting to receive a bonus.
85 per cent of businesses plan to invest in digital transformation in 2018, study indicates
Mar 27, 2018
Virtusa Corporation, provider of digital engineering and IT outsourcing services that accelerate business outcomes for its clients, has announced the findings of The Digital Transformation Race Has Begun, a September 2017 study commissioned by Virtusa and conducted by Forrester Consulting, that reflects the digital maturity of firms worldwide.
Manufacturing & Logistics IT March 2018
Mar 27, 2018
The March 2018 edition of Manufacturing & Logistics IT features a Special Technology Report on Transportation Management.
For this report, we spoke with experts from the vendor and analyst communities about recent trends and ongoing areas of development within the world of Transportation Management – including those concerning integration, Cloud/SaaS and legislation.
Lack of accurate product information: the no. 1 turn off for online consumers
Mar 20, 2018
A survey commissioned by Pimberly indicates that UK retailers are losing online customers, and sales, due to poor product information.
Never underestimate the importance of happy customers
Mar 19, 2018
By Matthew Robertson, Co-CEO, NetDespatch.
With the eDelivery Expo, the UK's largest retail, fulfilment and final mile conference, taking place on 21 and 22 March, 2018 this got me thinking about the importance of final mile, customer service and operational excellence.
Four in five IT SME bosses face recruitment and retention issues
Mar 19, 2018
The latest Aldermore Future Attitudes report reveals that four in five (80%) of SMEs in the IT sector, representing 270,280* small and medium sized business across the UK, find it difficult to hire qualified staff members or keep existing talent in the company.
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.
