Amido, a vendor-agnostic technical consultancy specialising in assembling and integrating proven cloud technologies to improve customer identity and data management, reports that c-suite leaders in retail are struggling to find value in the data they hold about their customers owing to the inadequate integration of their siloed data.
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.
Mobile barcode scanning – Capturing top performance without breaking the bank
Sep 21, 2016
By Samuel Mueller, CEO, Scandit.
Purchasing barcode scanners has become a matter of varied choices. No longer are enterprises restricted to selecting from an array of dedicated scanners or traditional mobile computers.
How to make the most of your online business
Sep 20, 2016
By Seb de Lemos, Vidahost.
For retailers operating in the digital age, just being online is no longer enough to remain competitive. A retailer now needs to make the most of every click to its website and deliver an amazing customer experience to keep margins healthy.
Six tips for taking stock ahead of the Christmas shopping season
Sep 20, 2016
By Michele Dupré, group vice president of retail, hospitality and distribution for Verizon.
While summer may still be top of mind for consumers, the retail industry is laser-focused on preparing for the 2016 Christmas season.
European research highlights why retailers need to focus on the online user experience
Sep 20, 2016
With ecommerce being the fastest growing retail market segment in Europe and with growth expected to reach £215.38 billion in 2017, it is becoming pivotal for online brands to keep their customers engaged throughout the entire shopping experience.
Do or die: Breaking down retailer siloes
Sep 20, 2016
By Kerry Lemos, CEO, Retail Pro International.
At boardroom meetings around the world, there are certain key phrases which are trotted out time and time again. Alongside 'focusing on core competencies' and 'securing stakeholder buy in', one of the most commonly dabbed squares on the buzzword bingo card is 'removing siloes'.
Global retail customer service in three steps
Sep 20, 2016
By Niklas Hedin, CEO of delivery management expert Centiro.
Selling items to customers around the world is undoubtedly an ideal scenario for retailers. Recent Royal Mail research revealed that those who export can expect a quarter of their Christmas sales to come from overseas.
Over a third (34%) of SMEs have no strategy in place to tackle long queues
Sep 13, 2016
A new study from First Data reveals that SMEs are struggling to keep pace with customer impatience.
Is your information security solution a fortress or an airport?
Sep 13, 2016
By Chris Davidson, Product Marketing Manager at M-Files.
In conjunction with the Association of Information and Image Management (AIIM), M-Files recently conducted a survey regarding information security. Before conducting the study, I envisioned the perfect metaphor for information security to be organisational stone fortress, a barricade—if you will, used to keep out unwanted attacks.
Increased drive to decrypt in Europe has reverse effect: more people plan to encrypt to protect security
Sep 13, 2016
European governments are starting a new chapter in the fight against encryption by unparalleled demands to access encrypted communication devices.
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.
