Retail Supply Chain Insights Guest Contributors
What The Retail Industry Really Needs To Know About SD-WAN
The retail industry has been experiencing dramatic disruption from the moment e-tailers entered the picture. One major distinction in the world of e-commerce is how much more today’s consumers expect from retailers. The clearest evidence of this trend is the growing demand for a more integrated shopping experience, with the lines increasingly blurred between what happens in a retailer’s physical store and what happens online. All of this places tremendous competitive pressure on retailers—especially smaller retailers—to make their customer experiences as engaging and integrated as possible.
How To Mitigate The Effects Of The Bullwhip Phenomenon
A common phenomenon in all supply chains is the amplification and distortion of demand fluctuations. These start off small at the retail level and amplify further up the chain. When cracking a bullwhip, the handle of the whip moves 60 degrees yet the tip of the whip moves at 360 degrees so the terms bullwhip effect is most befitting. The impact at the retail level is low and escalates further up the supply chain with the manufacturer suffering the most.
U.K. Consumers Maintain Strong Interest In Cash Payments
Even consumers who prefer to pay for purchases with non-cash alternatives such as credit cards and digital wallets still use cash regularly, according to recently published research of U.K. consumers and small businesses. While the preference for cashless payments has grown, there is still a strong interest in using hard, cold cash in many situations. The study, conducted by the U.K.’s Payment Systems Regulator (PSR), found that 69 percent of consumers prefer to use payment cards, but 83 percent had paid with cash for a purchase within the past week.
Implementing A POS System: What Your Staff Should Know
While shopping for a POS system takes a lot of research and the right investment, one of the most important parts of getting a new POS system is implementing it into your current operations. Once you’ve introduced your system to your business, it’s essential to train your staff and make sure they know how to make the best of its capabilities.
Employee Theft Costs UK Convenience Stores £20 Million
Everyone knows theft is a big problem in retail. Not only do shop owners have to guard against shoplifters and scammers, but the sad reality is retailers also must constantly deal with employee theft.
Insights From The Gartner Supply Chain Conference: Digitization And Intelligence Pave The Road To Customer-Centric Supply Chains
It’s time for supply chains to break out of the mindset of being led by the transaction. The message resonated when Gartner’s Tom Enright and Bart DeMuynck presented a look into what’s on the horizon as supply chains grow more intelligence-driven and begin to utilize those insights to serve customers in new and innovative ways.
Cash Wars: Legal Tender Is Still Standing
A solid majority of small business owners (83%) say they will never stop accepting cash payments, according to a recent study. Furthermore, almost three quarters (73%) believe America will never go cashless.
Omnichannel Offers Retailers A Way To Compete
As retailers large and small contend with the disruptive force that is Amazon, they’re looking into various ways to deliver a unique omnichannel experience. The omnichannel combines physical stores with mobile apps, websites and social media to create a consistent experience for customers as they switch between channels to interact with a retailer.
Backlash Against Cashless Stores Grows
In this digital age, cash still represents 30% of all retail store transactions and 55% of transactions under $10. Cash also accounts for almost half (41%) of fast food purchases and a third of transactions (33%) at convenience stores. As mobile wallets and other cash alternatives are introduced, the trend raises the very real question of whether cash needs legislative protection. In a growing number of municipalities and States the answer is yes.
Do You Have A Love-Hate Relationship With Vendor-Funded Promotions?
Do you look forward to or dread managing vendor-funded promotions in your retail business? They can be a great sales driver, but they also can be complicated and time-consuming to manage