The COVID-19 pandemic has changed the way people shop, making mobile and online experiences more important than ever. In response, many retailers have accelerated their digital transformation, and the pace is set to increase even further as customers’ expectations for sophisticated shopping experiences continue to rise.
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.
Half of EU retailers willing to pay extra for green delivery
May 04, 2021
European retailers are becoming increasingly motivated to contribute to the planet's welfare, with just under half (46%) willing to pay additional fees of up to £1 per parcel to compensate for CO2-neutral ‘green delivery’, according to new data.
The digital training gap: Just 14% of retail’s frontline workforce receive training on their mobile devices
Apr 27, 2021
As non-essential retail reopens, retail staff are facing a digital training gap, with store associates reporting a lack of digital training formats and infrequent learning opportunities, the latest report from digital workplace innovator, YOOBIC, warns.
Survey sees shoppers welcome smartphone app to check authenticity of goods and protect from rise in counterfeiting
Apr 27, 2021
Almost half of UK shoppers would be happy to use a smartphone app to reveal a counterfeit product before buying it, a survey has revealed.
How retailers can ensure frictionless trade despite Brexit paperwork boom
Apr 27, 2021
Despite the promises, both anecdotal and data-backed evidence suggests that the UK’s transition out of the European Union has not been as smoothed as hoped. Official government figures state that exports of goods to the EU fell by 40% in January 2021, with imports dropping 29%.
Lack of financial support is placing insecure workers at risk
Apr 20, 2021
Following recent research that has brought to light that workers in insecure jobs are twice as likely to die of Covid, Aleksandra Flack, a senior employment lawyer at Langleys Solicitors, commented: “This increase in the chance of death for those in insecure roles can be linked to the lack of financial support available to them.
E-commerce companies urged to reduce parcel volumes to limit courier driver shortage’s impact on online deliveries
Apr 20, 2021
Research recently released by market intelligence agency, Mintel, shows that the Covid-19-inspired rise in online shopping has driven a boom in demand for UK courier and delivery services.
Online Retail Sales Hold Steady in March
Apr 20, 2021
Despite the upcoming end of lockdown and promise of in-person shopping, online retail sales continued to show strong growth in March, rising by +71.7% Year-on-Year (YoY). That’s according to the latest IMRG Capgemini Online Retail Index, which tracks the online sales performance of over 200 retailers.
Cross border commerce – it’s an age thing
Apr 20, 2021
Baby Boomers and Millennial/Gen Zers are quite different when it comes to cross border shopping. Tommy Kelly, CEO of eShopWorld (ESW) discusses the differences for companies planning global initiatives.
Amazon’s here – so what’s the future for UK supermarkets?
Apr 19, 2021
Amazon has set its sights on the UK supermarket sector. From the Amazon Fresh initiative to its partnership with Morrisons, offering free, next day delivery to Prime customers, the arch disruptor is looking to turn the UK multiple market on its head.
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.
