Mypinpad, the payments software authentication solutions provider, today released its eBook highlighting the Company's capability to service the emerging PIN on Mobile (PoM) market.
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.
Avoiding the pitfalls of grey market sales
Oct 17, 2017
By Tom Collins, Associate, and Camille Arnold, Trainee, at Stevens & Bolton.
In a ruling that has been welcomed by brand owners, the Supreme Court recently confirmed that the sale of 'grey goods' can constitute a criminal offence.
Why 90 percent of sales still happen in brick and mortar stores
Oct 17, 2017
By Gary Lee, Chief Solutions Officer, Stratix Corporation.
Listen closely – those gasps you hear coming from the retail industry are not the end. They're the sound of pure delight streaming from brick-and-mortar stores. Why? Despite widespread media coverage declaring brick-and-mortar stores as dying, the latest research shows the opposite is true.
KRACK Wi-Fi Attacks: what you need to know
Oct 17, 2017
Sebastien Jeanquier, Principal Consultant at Context Information Security provides some background and advice on KRACK Attack.
Civil Aviation Authority led initiative will require retailers to do more to educate customers about responsible drone usage
Oct 17, 2017
UK retailers, including Dixons Carphone, Maplin and Menkind, have announced their commitment to educating users on the responsible use of drones.
98% of UK consumers say retailers don't understand them
Oct 11, 2017
Only 2% of UK consumers say retailers know what they like when shopping – down from 4% a year ago, research by Omnico has found.
Over three quarters of consumers ready to swap shops for showrooms
Oct 11, 2017
Over three quarters (76%) of consumers are ready for the next era of retail where stores become showrooms, designed around the customer experience rather than just sales outlets, according to new survey by enterprise solutions specialist HSO.
The rise of Scan and Go technology and how it works
Oct 10, 2017
By Julian Wallis, Sales Director in the Payments Group at Rambus.
Testplant survey reveals critical business 'App Gap'
Oct 10, 2017
Research demonstrating the acute pressure that businesses are under to deliver apps in the IoT and digital era, has just been released by digital automation intelligence specialist, Testplant.
Five steps retailers are taking for analytics-driven success
Oct 03, 2017
By Katarina Hansson, Director Retail Industry, Teradata International.
As a retailer, the clock is ticking if you are yet to adopt advanced analytics – and it's not a case of 'if' but 'when' in terms of doing so.
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.
