While the expansion of the Internet of Things is helping bring added efficiency and convenience to the way people work, such a rapid proliferation of internet- and cloud-enabled devices is also allowing the cyber threat landscape to grow with it.
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.
Brits queue-up to complain about shopping
Jun 27, 2017
New UK consumer research from Adyen reveals the love-hate relationship Brits have with both in-store and online shopping, but especially queues
New research shows cybersecurity battleground shifting to Linux and web servers
Jun 27, 2017
WatchGuard's latest quarterly Internet Security Report reveals that despite an overall drop in malware detection, Linux malware made up more than 36 percent of the top threats identified in Q1 2017.
'Building the Store of the Future' – exclusive free report written by Store X Summit
Jun 27, 2017
Traditional bricks and mortar retailers are under siege as consumers warmly embrace the Internet shopping experience. Learn more here.
Bridging the complexity gap
Jun 21, 2017
By Stephen Hardy, Managing Director, FPX Ltd.
The business-to-business (B2B) sales ecosystem is an inherently complex space which presents challenges to manufacturers. Regardless of what you sell, how you sell it, and who you're selling to, there are numerous obstacles to ensuring the right product gets to the right customer at the right price via the customer's preferred channel.
Surge in applicants eases Britain's cyber security skills crisis, research by Indeed
Jun 21, 2017
A surge in interest from candidates has helped shrink Britain's cyber security skills gap, but the shortage of expertise means UK Plc remains at risk of cyber attack, according to new data released by the global job site Indeed.
The whole truth about Amazon and Whole Foods
Jun 21, 2017
The e-commerce delivery firm ParcelHero says there is a good reason why Amazon's making the £10.7bn step into brick and mortar retail by purchasing Whole Foods Market: it could lead to a chain of cashier-less fresh food stores.
The future is intelligent – Is AI the new customer service?
Jun 21, 2017
By Jason Maynard, director of data and analytics, Zendesk.
We are in a new age of digital customer service where on-demand help is expected 24/7, 365 days a year but does your self-service support live up to this demand?
Research reveals marketplaces need fintech innovation
Jun 21, 2017
New research from Edgar, Dunn & Company, commissioned by SafeCharge, the payments services partner, has revealed the challenges inhibiting the growth of marketplaces and calls for fintech innovation to address them.
Can drop shipping level the retail playing field?
Jun 21, 2017
Ken Chrisman, division President of Sealed Air, a global leader in packaging solutions and technology, discusses the risks of implementing drop shipping and how to mitigate those while remaining competitive and profitable in the marketplace.
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.
