Slow networks and lack of WiFi connectivity in-store are damaging customer experience, and costing retailers conversions, warns a new report from communications provider Vodat International.
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.
Manufacturing Pulse Report 2016
Apr 05, 2016
A survey of 6,000 European consumers on their direct purchasing behaviour with manufacturers.
Omni-channel isn't just a revolution for retailers. Consumers and manufacturers are now developing a direct purchasing relationship. For manufacturers this means added complexity as well as opportunity.
Retail mobile apps could save 900,000 jobs over next 10 years
Apr 05, 2016
Investing in mobile apps will bring customers back into retail stores, and help avoid the estimated loss of 900,000 jobs and thousands of stores in the next decade – according to UK mobile app developer, Apadmi.
Why retailers shouldn’t let click-and-collect end their collection and delivery innovation
Apr 05, 2016
Perhaps the biggest shopping trend of 2015 was the rise of handy collection points for online purchases. Click-and-collect is now a perquisite for retailers, yet it is also in danger of becoming a full stop when it comes to overall e-commerce strategy.
Highest ever level of Chronic Platform Stress hits the retail community, says eCommera
Apr 05, 2016
eCommera, the eCommerce specialist that combines strategic, technology and operational support for global brands and retailers, has issued a stark warning to retailers suffering from Chronic Platform Stress (CPS).
UK SMEs overwhelmingly unaware of the Modern Slavery Act’s impact on them, CIPS research finds
Mar 29, 2016
The positive cascading effects on SMEs' supply chain management as a result of the Modern Slavery Act are already being called into question by new research compiled by the Chartered Institute of Procurement & Supply (CIPS).
No love lost in February 2016 retail sales
Mar 29, 2016
Despite the £1.6bn spend during the Valentine's Day season; the ONS February 2016 Retail Sales revealed this wasn't enough to give the retail sector the lift it needed.
Building loyalty from marketplaces to become a super seller
Mar 29, 2016
When Jeff Bezos set up Amazon in 1994 no one could have predicted how it would not only usher in the era of e-commerce, but also how it would create the whole marketplace economy that in many ways drives retail today.
Manufacturing & Logistics IT March 2016 Edition is now available.
Mar 29, 2016
The March edition of Manufacturing & Logistics IT features an exclusive interview with Vittorio Boero, chief information officer at Ferrari, about how the sports and luxury car manufacture's intensive five-year IT re-structuring roadmap, first put in place in 2012, is progressing and the benefits it is bringing to the company.
Cyber security budgets on the rise but not in line with increasing threats, says IISP
Mar 23, 2016
The Institute of Information Security Professionals (IISP) has announced the findings from its 2016 member survey.
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.
