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 Need for a Next Generation Store 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.
Today, many retailers are promoting omnichannel retail initiatives in order to offer their services and products to more consumers on more marketing platforms. It’s no secret that retailers with growing omnichannel initiatives see strong benefits with RFID from the DC to receiving to the back room, and the selling floor.
In the age of the consumer, every retailer must create the exceptional Amazon-like service experiences that consumers have come to expect or risk going out of business.
Intense competition and heightened consumer expectations aren’t unique challenges to the mid-market retailer. There’s one critical difference, mid-market retailers lack the resources that the biggest players do have to overcome those challenges. With already small margins, if you’re among this group, you may find yourself just scraping by. But the odds don’t have to be stacked against you.
Retailers today confront challenges that are unprecedented in other industries. In fact, there’s a case to be made that retailers have experienced more change in the past few years than in the previous 100 years combined. As a result, retailers must adapt to deliver on changing customer expectations. Those who succeed are able to differentiate themselves, while those that fail become irrelevant.
The trends this year retailers really need to focus on won’t be around the hottest new technologies or latest fads. Instead, companies that focus on delivering consistent, engaging customer experiences will set themselves up for long-term success. But in order to run your business successfully and provide the brand experiences shoppers expect, you must first have the right foundational systems in place.
Merchandise suppliers explain what information is required to quickly and efficiently identify the specific reason for a deduction and determine its validity.
It’s a jungle out there and retailers are in a fight for survival of the fittest—just ask some of the casualties. This isn’t fear mongering. It is a retail reality being driven by table stakes set by the likes of Amazon.
In a world where retailers are losing $77 million in revenue per day due to eCommerce fraud globally, you better have the right fraud prevention strategy in place if you expect to survive. But should you use a third-party fraud management solution or build your own fraud team in-house?