The March 2017 edition features a Special Technology Report on Enterprise Resource Planning (ERP) Solutions, with the views of experts from the vendor and analyst communities. Also, this edition features an exclusive interview with Pierre d'Imbleval, chief information officer, Renault Sport Racing,looking at how the organisation's IT estate plays a critical role in its success.
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.
The 'Great Brexit Sale' continues; UK tourist shopper arrivals set to reach 11% rise in Q1
Mar 28, 2017
The 'Great Brexit Sale' will continue to draw in international shoppers in Q1 of this year, a new report from Premier Tax Free, the international provider of VAT refund and dynamic currency conversion services, reveals.
IoT enabling the experience-based retailer
Mar 28, 2017
The Internet of Things (IoT) will be pivotal in shaping the experience-based retailer of the future, says Beecham Research in its new 'Internet of Retail Market Brief'.
In with the old and with the new: ensuring optimal customer experience
Mar 28, 2017
By Graham Ede, Yonder Digital Group.
In a recent survey of customer satisfaction in the UK, the Institute of Customer Service looked at the top 4 differentiators of high-scoring organisations.
UK retailers wasting £90,000 on legacy telephony each year
Mar 21, 2017
New research reveals that the average retailer is wasting almost £90,000 a year on unnecessary and out-dated telephony systems.
Use mobile data capture to streamline everyday retail processes
Mar 21, 2017
By Samuel Mueller, CEO, Scandit.
Retailers can obtain a wealth of real-time enterprise data with mobile barcode scans.
From scrolling to sales: the future of mobile retailing
Mar 21, 2017
By Craig Smith, VP of solutions & customer success, Amplience.
Mobile retailing has become a pivotal milestone in consumer buying habits, with over half of online sales being made through mobile devices, reports IMRG.
RFID: Fact or Fiction?
Mar 14, 2017
By Andrew Blatherwick, Chairman, RELEX Solutions.
The industry may have been talking about RFID for 20 years, but it still has not come into common use or delivered significant value to retailers.
Digital transformation needs to be achieved iteratively and start with the customer to be successful, warns Claranet
Mar 14, 2017
Charles Nasser, CEO of Claranet, to give keynote speech at Cloud Expo Europe on the real-world challenges of digital transformation.
Calling time on the retail supply chain
Mar 07, 2017
To be competitive in this Amazon dominated retail environment demands better range, lower supply chain costs and improved customer service – a model which cannot be achieved with today's complex and expensive supply chain.
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.
