With Brexit negotiations set to continue until 2019, data driven scheduling company Rotageek reveals 58% of British retailers believe Brexit will negatively impact their access to labour.
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.
Vista Retail secures £14m backing from LDC
Oct 31, 2017
Vista Retail Support (Vista), the independent IT services company, has secured a £14m investment from mid-market private equity firm LDC to accelerate its growth and fund new acquisitions.
Retailers must empower staff with tech in the same way they do customers
Oct 31, 2017
By Alan Johnson, General Manager UK&I at Fruition Partners.
Often, tech is the only thing that really differentiates one business from another, so it's clear to see why retailers place such importance on empowering consumers any way they can.
AI will drive retail profits sky high, says Blue Yonder
Oct 31, 2017
Blue Yonder, provider of artificial intelligence and machine learning solutions for retail, says that artificial intelligence in retail will boost profits by streamlining procedures, automating labour and accelerating innovation.
40% rise in online fashion sales means Jaeger and American Apparel won’t be last fashion victims
Oct 31, 2017
New Office of National Statistics (ONS) retail figures reveal a 39.1% YOY increase in online textile, clothing and footwear sales, compared to September last year.
Total economic impact study reveals Epicor ERP customers can achieve 264% ROI
Oct 24, 2017
Epicor Software Corporation, a global provider of industry-specific enterprise software to promote business growth, has announced the availability of a new Total Economic Impact (TEI) study that examines the potential return on investment (ROI) companies can achieve with the Epicor enterprise resource planning (ERP) suite.
Complaining consumers target retailers through social media
Oct 24, 2017
New research by HSO has revealed that 36% of consumers would use social media to complain about a product or service. This compared favourably to 30% who would use an online complaints form; 18% who opted for visiting the store and just 14% who preferred the more traditional approach of a telephone call.
Strategies for securing retail payment data
Oct 24, 2017
By André Stoorvogel, Director, Product Marketing in the Payments Group at Rambus.
2Checkout reports new global digital commerce trends for 2017
Oct 24, 2017
2Checkout (formerly Avangate) has released its H1 2017 benchmark report on Digital Commerce Trends in Software & Online Services Sales, showing that subscription-based software solutions, downloadable or as a service, maintain a strong upward trend.
Shedding light on the Deep & Dark Web: Bringing risk intelligence to bear for business benefit
Oct 24, 2017
By Olivia Rowley, Flashpoint Analyst.
Beyond the accessible surface of the open web, anonymous users exchange illegal goods and plan criminal activities away from prying eyes. Known as the Deep & Dark Web, these covert regions of the Internet are unindexed by search engines and far greater in volume than the open web.
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.
