A survey of senior IT decision-makers in large enterprises, commissioned by Coeus Consulting, found that IT leaders who can clearly demonstrate the cost and value of IT have greater influence over the strategic direction of the company and are best positioned to deliver business agility for digital transformation.
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.
Retailers reap major benefits though workforce technology investment
Feb 13, 2018
Neil Harvey, CTO of Kirona, considers the implications of the Industrial Strategy white paper on the retail sector and asks; is there such a thing as a perfect balance, and what benefits can technology have on workforce productivity?
High street still has a bright future if retailers are agile, says Conversity
Feb 13, 2018
With the inexorable rise of digital still in full force and regular news stories reporting high street shop closures, it is fair to say that physical stores no longer have the hegemony that they once enjoyed.
Common mistakes retailers make on their e-commerce platforms
Feb 13, 2018
By David Lindores, Technical Director, Eureka Solutions. The recent festive period saw shoppers spend huge amounts, with consumers already spending an average of £220 each in online January sales alone.
Half of SMEs fear financial loss from poor IT security and data compliance
Feb 06, 2018
Recent research by Ultima, the provider of on-premise and cloud IT infrastructure and managed service solutions, has found that over half (58%) of the UK's SMEs think their businesses are at risk of financial loss from poor IT security and data compliance, with 67% believing they may be out of business in three years if their IT security and compliance doesn't improve.
Frequency and complexity of DDoS attacks is rising
Feb 06, 2018
Netscout Systems has released its 13th Annual Arbor Worldwide Infrastructure Security Report (WISR) offering direct insights from network and security professionals at the world's leading service provider, cloud/hosting and enterprise organisations.
H&M sees profits fall amid digitalisation struggle - direct comment from Couchbase
Feb 01, 2018
In light of H&M seeing profits fall, Perry Krug, principal architect, Couchbase, comments: "H&M is quite right on the need to innovate, and to do so quickly – one of the factors that finally crippled Jaeger in 2017 was that its digital transformation was too little, and far too late.
77% of retail CIOs say it could become impossible to manage digital performance, as IT complexity soars
Jan 31, 2018
Digital performance management company, Dynatrace, has announced the findings of an independent global survey of 219 CIOs in the retail sector, which reveals that 77% of organisations think IT complexity could soon make it impossible to manage digital performance efficiently.
Dixons Carphone and Volume Network light up London with new LED light installations
Jan 31, 2018
Volume Network, provider of 4K content delivery solutions to electronic retailers in Europe, has announced a series of project completions on behalf of Dixons Carphone.
Blue Yonder says decline in retail sales shows need for further innovation.
Jan 30, 2018
The latest figures from the British Retail Consortium covering the period from October to December 2017, including the Christmas season, show that high street spending in the run up to Christmas increased at the slowest rate since 2012, after rising prices saw shoppers choosing to spend on essential items such as food.
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.
