A recent survey by GS1 UK showed that over 25% of the top 20 retailers in the UK – including Marks and Spencer, John Lewis, Tesco F&F, ASDA George and others – are already using RFID tags in their stores.
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 are a nation of whine lovers – but we prefer to whine online
May 03, 2016
Britain remains a nation of complainers, new research has found, but we prefer to do so online, with in-person whining proving as difficult as ever to the confrontation-shy Briton.
83% of businesses to increase cloud usage
Apr 26, 2016
Cloud requirements are on the rise and businesses are set to increase usage — so say 83% of respondents in the latest Pulsant–commissioned research.
A third of consumers are jaded by shopping, shows new report
Apr 26, 2016
A report into UK buying habits has revealed that a third of consumers find shopping to be much less enjoyable than it was five years ago, despite technological advancements.
Independent research firm includes Mirakl as one of ‘20 Startups All Retail eBusiness Executives Should Know In 2016’
Apr 20, 2016
Mirakl has been named as one of 20 startups designed to help retailers alleviate key pain points in Forrester's recent report, "20 Startups All Retail eBusiness Executives Should Know In 2016".
Four steps retailers must follow for omnichannel success
Apr 20, 2016
By Kevin Connor, director of product strategy, Retail Pro International.
The tongue-in-cheek phrase 'first-world problems' was coined to describe an issue that people in the 'first-world' take for granted. This certainly strikes a chord in this era of increased customer expectation and the failure of many companies to keep up.
Industry experts not surprised at increase in online grocery shopping
Apr 20, 2016
With an increasing number of Brits turning to online grocery shopping, Midland Pallet Trucks, the UK provider of pallet and pump trucks, has highlighted the need for supermarkets to prepare for increased demand to guarantee a streamlined and efficient approach for their customers.
KPMG/Ipsos Retail Think Tank warns of a costly quarter ahead for retailers
Apr 20, 2016
The health of the UK retail sector is expected to dip in Q2 2016, as retailers bear the brunt of soaring costs. The National Living Wage, a weak sterling, continued investment in channel shifts and rising petrol prices are expected to significantly outweigh improving consumer demand.
How independent retailers can integrate touchscreens without breaking the bank
Apr 13, 2016
By Craig Witsoe, CEO at Elo.
The life of an independent retailer is not an easy one. Competition from big box retailers continues to increase, setting up David and Goliath showdowns across the country.
Omni-channel logistics – hot topic but challenges aplenty
Apr 12, 2016
By Matthew Robertson, Commercial Director, NetDespatch.
Omni-channel has become the proverbial buzzword of late. Regardless of the vertical market, be it retail, business or shipping and logistics, the onus on creating a truly holistic experience for the customer has never been greater.
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.
