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
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.
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.
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.
The current media reporting on the state of retail stores paints a doom and gloom picture. Almost every day there are headlines of bankruptcy filings and store closures suggesting that the retail apocalypse is here. It’s clear that the retail industry is going through a transformational period that has many scaling back physical operations, but despite the news, people still want to—and still do—shop in stores.
If you asked the stakeholders in your business whether packaging is perceived as an unwanted cost or a value driving innovation, what would they say?
Is this situation familiar? You invest your time and energy developing products for the market, and develop a supply chain model to ensure these new products make it to customers in a timely manner. Then, you invest further in well-crafted brand promises implemented to the finest detail within your style guide. Next, you transfer the whole bundle to the OEM and ask: “when can we start shipping?”. Rarely, up to this point, has any thought been given to transit packaging. Let’s be honest – the feeling is, you have invested all that time in developing the product, how hard can it be to get the package right? Famous last words indeed.
Is packaging the magic ingredient in your global supply chain? It certainly has the power to make or break your global operations.
Most retailers are missing out on a major opportunity for cost savings in their supply chain. It’s not because the opportunity is complicated - quite the contrary. The idea is so simple most retailers probably think it’s already being handled. But when you’re talking about shipping from Asia, what you think is happening and what is actually happening with your packaging material, performance specifications and freight utilization are rarely the same. So, what do you do?
Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?
Unlikely or unforeseen competitors continue to disrupt industries at an exponential pace. The innovation disruptors bring requires a key strategy: put the customer at the center of your business and deliver great experiences to them. Understand how consistent, timely, relevant and personalized experiences are enabled by having the right technology foundation in place.
Easy to describe, difficult to execute. Achieving a unified commerce platform requires a fundamental shift away from inward-looking systems and focuses instead, omnichannel commerce requires retailers to be outward looking, to focus on customer needs, wants and behaviors. Explore how consolidating multiple systems through a cloud-based commerce platform provides a seamless experience for both you, and your customer.
All businesses aspire to provide the ultimate omnichannel customer experience. Aspiring is easy, but achieving is difficult, with fulfillment often being the most challenging area to master. Delivering the perfect order requires a delicate balance of inventory visibility, routing logic and strategies for dealing with exceptions. Explore the 3 critical components to delivering the perfect order.
Mobile point-of-sale (mPOS) goes beyond mobile check out. Learn the top five innovative ways to utilize your mobile POS technology to drive customer engagement, increase sales and elevate your brand.
The James Bond of Retail has always been on Her Majesty’s Retail Service. He is there at the right place and at the right time to ensure that stores run smoothly, associates are well trained, and that customers have a great experience. Today, 007 has a secret weapon at his disposal, designed and developed by Q, the Head of Research & Development, to unleash the power of James and his team.