Technology is changing the landscape of retail market drastically as it does in all other domains of businesses. It was highlighted in the takeaways of Retail Now 2019 conference that the point of sale (POS), mobile apps, and the software-powered technological ecosystem is impacting the retail markets significantly worldwide.
Luxury shopping is an experience all its own. Included in the unique ecosystem of retailers catering to the very wealthy are loyalty programs. Many recent program launches come from companies realizing that they need assistance building loyalty among affluent millennials, a subset that spends north of $2 trillion annually. While stores are focused on rewarding their VIPs, the benefits are more high-flying than discount coupons and special events.
Baby boomers — those customers between the ages of 54 and 72 — are predicted to increase their spending by 58 percent to $4.74 trillion over the next 20 years. That's far more sales growth than millennials, whose spending will grow by only 24 percent. With an estimated 75.4 million baby boomers in the United States, retailers can't afford to ignore this segment of the population.
Defects are a tester’s worst nightmares. Although quality assurance (QA) experts ensure that apps are free from defects, yet eliminating them completely from a system is impossible. Thus, developers and testers work efficiently to make software products as robust as possible. So defects can appear at any point in time while using the app after being rolled out to the users, or while it is still production. Previously, all the defects were recorded manually, or by using excel sheets. With digital transformation taking all over the software industry, development teams are provided with a proper defect management system that records all of their defects and provides a platform to improve the quality by removing these defects.
Even consumers who prefer to pay for purchases with non-cash alternatives such as credit cards and digital wallets still use cash regularly, according to recently published research of U.K. consumers and small businesses. While the preference for cashless payments has grown, there is still a strong interest in using hard, cold cash in many situations. The study, conducted by the U.K.’s Payment Systems Regulator (PSR), found that 69 percent of consumers prefer to use payment cards, but 83 percent had paid with cash for a purchase within the past week.
Pop-up stores are a popular way to freshen brick and mortar presence as well as to physically connect e-commerce retailers to their customers. They have been around for a few years, but they have steadily become increasingly popular.
Customers have come to expect a unified shopping experience across all channels forcing stores to connect the dots between their in-store and online operations. While not all omnichannel features are one-size-fits-all, BOPIS is an option shoppers are coming to expect from retailers. According to a survey from Internet Retailer and BizRate, 53% of shoppers plan to increase their use of buy online, pick up in-store (BOPIS) this year and by not giving your customers the choice, retailers could be losing sales.
From the moment the buy button is clicked through delivery to the shopper, everything that happens behind the scenes is orchestrated by the order management system (OMS). That’s why 45 percent of retailers report they plan to upgrade or implement a totally new OMS in the next two years. A new study conducted by RIS News uncovers the state of order management in today’s complex retail environments and other key findings.
New research reveals that 88% of retailers with new supply chain initiatives said it has helped them exceed customer expectations; and 84% claim these efforts allow them to give customers more control over their shopping experiences.
Succeeding in today’s ever-changing digital commerce world requires mastering a complex mix of people, process and technology innovations that must all work seamlessly together. Organizations face myriad of choices — from developing the right strategy to building a high-performing team and laying a solid foundation of the right technologies.
Radial, a bpost company, is the leader in omnichannel commerce technology and operations, enabling brands and retailers to profitably exceed retail customer expectations. Radial’s technical, powerful omnichannel solutions connect supply and demand through efficient fulfillment and transportation options, intelligent fraud detection, payments, and tax systems, and personalized customer care services.
In order to deliver the best cross-channel shopping experience, future-thinking retailers must go beyond buy online pick up in-store (BOPIS) and push the envelope with inventive new tactics.
Business owners continue to meet the current digital transformation challenges from time to time. Not only have the product releases been reduced from months to weeks and days, so have the quality standards increased. One of the most revolutionary trends of this era is the software testing tools in the software development process. However, a software testing company works on achieving digital excellence by using the top trends for this year.
High shopping cart abandonment rate is an unpleasant reality for many Ecomm businesses and there are numerous reasons why customers may change their mind half way through the purchasing process. Let’s have a look.
Do you look forward to or dread managing vendor-funded promotions in your retail business? They can be a great sales driver, but they also can be complicated and time-consuming to manage
As anticipated, the retail industry continued to evolve in 2018, with overall sales jumping close to 5%, online marketplaces grabbing a larger slice of the pie, and legacy brick-and- mortar retailers shifting more resources online. The industry is ripe for even more change in 2019. With eCommerce sales projected to reach $530.6 billion by 2020, retailers must continue to evolve to meet customer’s expectations.
As Founder and CEO of UJET, Inc., Anand Janefalkar has 15 years of experience in the technology industry and has served as a technical advisor for various startups in the Bay Area. Before to founding UJET, he served as Senior Engineering Manager at Jawbone, and also previously contributed to multiple high-profile projects at Motorola. Fadi ElTal is the head of Customer Support and Insights at Noon Home, and is behind the program’s overall launch strategy and bring up. These two recently spoke with Retail Operations Insights about customer experience, consumer loyalty, and the future of retail.
In order to deliver the best cross-channel shopping experience, future-thinking retailers must go beyond buy online pick up in-store (BOPIS) and push the envelope with inventive new tactics.
Fulfillment & Transportation is a time-space equation that involves finding the product and setting it on the right path with expedience. Radial’s Fulfillment & Transportation solutions make that happen.
Radial brings more than 15 years of experience and 24x7x365 resources that work in concert and adjust in real time to ensure cyber criminals don’t get the upper hand.
The reality of today’s retail market is that many retailers struggle with the skills, scale and technology to deliver a winning customer experience while generating a profit.
Radial Dropship Manager is a cloud-based supply chain collaboration solution that automates order processing, exception handling, shipping, invoicing, and inventory between you and your dropship suppliers.
