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.

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Deliveries are the “beating heart” of ecommerce. Here’s how mid-size retailers can keep at peak fitness

1 Deliveries are the “beating heart” of ecommerce. Here’s how mid-size retailers can keep at peak fitness

By Jeroen Terheggen, VP for Mid-Market, nShift.

What happens after the customer clicks “buy” often determines whether they will buy again or go elsewhere. The manner, speed, and experience around deliveries is a key “moment of truth” for the customer relationship.

How Magento 1 Conquered Ecommerce and Why Magento 2 Is About to Do the Same?

2 How Magento 1 Conquered Ecommerce and Why Magento 2 Is About to Do the Same?

By Ralph Conroy, freelance writer.

The E-commerce industry keeps on changing its requirements and approaches like the weather and so do businesses that operate in this area. Tech and SEO rules are constantly evolving and many online stores struggle to keep pace. But where there's a challenge, there's also an opportunity, right?

New research: More than half of online shoppers now buy cross-border, but 92% still worry

3 New research: More than half of online shoppers now buy cross-border, but 92% still worry

New research suggests 52% of US and UK online shoppers have purchased at least one product from an ecommerce store in another country in the last 12 months – and a further 23% have considered it, with the desire for lower prices being the most popular trigger.

86% of IT leaders say data streaming is a priority for IT investment in 2024

4 86% of IT leaders say data streaming is a priority for IT investment in 2024

Confluent, Inc. has unveiled its 2024 Data Streaming Report: Breaking Down the Barriers to Business Agility & Innovation. The report dives into how organisations use data streaming to innovate, accelerate AI adoption, improve business agility, power customer experiences, and overcome data accessibility and management challenges.

Retailers get conversion rates wrong because they fail in people counting

5 Retailers get conversion rates wrong because they fail in people counting

In physical retail stores, one of the most crucial metrics is the visitor-to-buyer conversion rate. The industry magic number is a 25% conversion rate, and achieving this goal requires accurate data.

RAIN RFID tag chip shipments forecast to reach 115bn units by 2028, a year-on-year growth of 20.4%

6 RAIN RFID tag chip shipments forecast to reach 115bn units by 2028, a year-on-year growth of 20.4%

RAIN Alliance, the non-profit industry organisation supporting the development and adoption of Ultra High Frequency (UHF) Radio Frequency Identification (RFID), has published its bi-annual research report ‘Global Markets & Applications for RAIN RFID Solutions’, produced by VDC Research.

Navigating cyber risk in the manufacturing sector

7 Navigating cyber risk in the manufacturing sector

There’s a prevalent misconception among manufacturers - that cyber threats are all about data security and nothing else. Caroline Thompson, Chief Underwriting Officer, Cowbell discusses why this mindset needs to shift, delving into a broader understanding of cyber risks in manufacturing operations and what to do to protect your business from them.

“OMG, keep those desks clear to avoid hacking and cyber threats,” expert warns

8 “OMG, keep those desks clear to avoid hacking and cyber threats,” expert warns

A clear desk policy is vital in protecting organisations from threats such as keystroke loggers and injection payload devices like OMG cables, says a professional private investigator.

New poll exposes substantial AI trust gap despite looming technological revolution of society

9 New poll exposes substantial AI trust gap despite looming technological revolution of society

Locale, the UK-based building occupier experience platform, has unveiled insights into the public’s connection with artificial intelligence (AI).

Is your payment stack hampering your business’ growth?

10 Is your payment stack hampering your business’ growth?

By Brian Gaynor, VP of Product & EU CEO, BlueSnap.

It’s only natural for your firm’s requirements to change over time, especially when you have a growing business. Whether you’re expanding into new markets, boosting customer loyalty, or enhancing buyer experience, everything requires your business processes to be agile.

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.

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