Guest Column | By Amr Farahat, Washington University in St. Louis
If retailers supply more product than there is demand for they are left with excess inventory, which ties up capital and leads to obsolescence. Too little supply results in lost sales and weakens customer retention.
Retail is rapidly being redefined. With the swift pace of disruption occurring right now, winning retailers are looking to outpace the competition and adopt strategies that position them for success as customer expectations and technology continue to evolve. The following key trends are shaping future strategies and tactics to survive, adapt, and win.
Converting retail stores into mini fulfillment centers is a more cost-effective way to expand the distribution network using existing facilities that are already close to where customers live.
Organizations must be cognizant of 2018 tax changes because the way they procure their equipment can have a significant impact to their overall business, bottom line, and financial performance.
