Innovative Retail Technologies caught up with Dave Zamsky, Vice President, Marketing, UPS Capital to garner his insight on mitigating supply chain risk. Here’s what he had to share.
IRT: What are the retail trends you’re seeing around high-value goods shipping?
Zamsky: We are seeing more and more goods sold online. Luxury e-commerce is exploding. According to Technavio’s Global Luxury E-tailing Market Report 2015-2019, global sales in the luxury e-commerce market are expected to reach $42 billion in just the next three years, a 100 percent increase over the $21 billion high of 2014. It’s a market opportunity that can’t — and shouldn’t — be ignored.
IRT: What are the things that keep executives up at night when thinking about their supply chains and shipping high-value goods?
Zamsky: Regardless of the goods being shipped, theft, fraud, and loss are always top concerns. However, when you’re shipping high-value items such as jewelry or watches, those concerns can really interrupt executives’ sleep patterns. To that end, it is vital that executives educate themselves on how damaging a loss can be to their companies and how having a layered approach — multiple levels of security — to risk mitigation can protect your product, your reputation, and, ultimately, your company.