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.
Retail is undergoing a major sea change as retailers reshape the shopping experience. As consumers become more demanding thanks to the conveniences of online shopping, savvy retailers are making strides to replicate – or even surpass that experience – at physical locations. Retailers who make customer-centric decisions, investing in stores, technology, fulfillment and customer service teams will stand to profit.
Modern retailers understand the core benefits of leveraging the power of Predictive Analytics and Artificial Intelligence. Predictive Analytics accounts for all of your company’s relevant data at a micro-level, identifies your business’ trends, opportunities, and influencing factors. It makes recommendations to retailers that will help them increase forecast accuracy, reduce inventory costs, increase in sales, and maintain high customer satisfaction levels.
Self-checkout dishonesty, cashier and shopper collusion, and inaccurate weighing are all risks to retailer profitability. Learn how vision and imaging technology can help any size retailer today.
The increase in online shopping is creating chaos with returns. Learn how vision and imaging technology can improve reverse logistics for any size retailer today.
In today’s technologically advanced world, a lack of data is not the problem. We are currently inundated with information from various sources. Rather, we need tools that consolidate this information, normalize it, and predictively notify users of potential risks. This enables companies to harness information to better control their supply chain. Digitization enables levels of sharing that could not be achieved in the past but it opens our customers up to greater issues around information overload and synchronization. We need tools that can holistically look at the problem and proactively advise customers on the best corrective action plan.
The supply chain stands to gain big from blockchain.
Omni-channel and personalization are driving new investments both in the store and the supply chain.
Rhett Butler in Gone with the Wind remarked: I told you once before that there were two times for making big money — one in the upbuilding of a country and the other in its destruction. Slow money on the upbuilding; fast money in the crack-up. Remember my words. Perhaps they may be of use to you some day.
Alexis DePree, VP global supply chain, customer fulfillment at Amazon, explains how her leadership style helps her team operate the e-commerce giant’s complex logistics empire.
Yesterday, today and tomorrow. As supply chain professionals, we are faced with having to meet the challenges of the most rapidly changing environment witnessed in more than a generation. Ecommerce is being thrust upon us at a breakneck speed.
On Cyber Monday (Nov. 27, 2017), NRF estimates over 120 million people in the U.S. will go online to conduct some of their holiday shopping. While most consumers see this day as the beginning of the holiday shopping season, retailers know the season is really the culmination of months of hard work and preparation.
The importance of delivering high-quality customer experiences in today’s retail space is well-understood. The new challenge has become how to deliver that experience in a profitable way while also keeping up with rapidly-changing consumer expectations, fueled by online retailers.
The holiday season is quickly approaching. This means retailers need to start preparing for the influx of seasonal temporary workers required to get through the holidays.
It seems product recalls are now the norm on a wide range of products from cellphones to ATVs, high heels, children’s clothing, and more. In one week, the CPSC reported several recalls on its website: incorrect venting Nutrilife® hydrogen peroxide bottles cause fires or burns; By Gary Barraco, Director, Global Product Marketing, Amber Road
Retailers are bombarded with so many new technologies it’s difficult to keep up. Each new tool or platform makes bold claims of transformative capabilities. By Sunny Lu, Co-founder & CEO, VeChain
With the surge in the e-commerce, the need to employ appropriate inventory management practices for e-commerce warehousing has increased tremendously. By Kevin Hill, Quality Scales Unlimited
If traditional retailers have not gotten the newsflash yet, here it is: Amazon is coming after your business. As demonstrated by Amazon’s intent to purchase Whole Foods, there is no stopping the e-commerce giant from using its vast resources to continue its pursuit of retail dominance. By Bernard Goor, vice president and industry evangelist, One Network Enterprises
A look at the future of retail in the wake of the Amazon-Whole Foods deal. By Heidi Dethloff, VP, Marketing, Digimarc Corporation
We’re proud to introduce The Retail Solutions Network, a collection of robust, data-rich resources designed to help retailers become an indispensable part of their customers’ lives by delivering the personal experiences that constantly exceed expectations. Comprised of print and digital media, The Retail Solutions Network aids every member of the retail enterprise from the corner office to the store floor.
