In todays' customer-centric world, retailers must put consumer needs at the heart of supply chain and fulfillment operations. Retailers need inventory management that is optimized for cross-chain product availability and fulfillment and returns that provide a frictionless experience for the customer.
Half of US households have an Amazon Prime membership and have come to expect free, two day shipping. So now eCommerce executives are challenged to develop delivery strategies to compete with Amazon’s delivery capabilities in order to retain their best customers; and do it without losing money.
Today’s ‘anytime, anywhere’ shoppers have big expectations for retailers, and they had better keep up or be prepared to lose a sale, or even a customer for life. This demand for service has created an urgency which retailers must meet, and it begins with the supply chain.
Total Retail surveyed its retail executive audience to understand current and future retail technology trends and buying behaviors. The results show that while innovative retail technologies such as augmented and virtual reality, chatbots (i.e., artificial intelligence), and drones get a lot of media attention for how they’re going to disrupt the industry — it’s more basic solutions like marketing automation software, video and mobile websites that currently have retailers’ attention.
eCommerce contributed nearly 42 percent of U.S. retail sales growth in 2016. While that’s good news for retailers, what’s not is the resulting surge in online fraud.
72% of US online shoppers have a membership to an eCommerce marketplace such as Amazon or eBay. This guide will show you what retail tactics you should prioritize to win online shoppers in the year ahead
In the age of the consumer, every retailer must create the exceptional Amazon-like service experiences that consumers expect or risk going out of business.
What worked in the past may not be right today or even ten minutes from now. Small to mid-sized retailers often don’t have the flex or resources to react to the hills and valleys of peak season. But the $1.75 trillion ghost economy (cost of overstocks, out-of-stocks and returns) is clear proof that every retailer needs to be prepared to pivot in real-time, especially during the holidays.
Shoppers expect the products they want to be available through every channel and device from which they choose to shop. They want options to buy online and have it shipped, buy in store, buy online, and pick up in-store, and even want items to ship from a store if they’re not available in the warehouse. Regardless of where and how, they expect their orders to be delivered fast!
Starting a business can be hard. Growing your business can be even harder. Whether it’s poor customer data, manual and broken processes, minimal operations visibility to make decisions, building a winning team, or keeping up with changing regulations, there is always something getting in the way of growth. These barriers hurt sales, cost money and create risk.
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