Any business that accepts cash for transactions has come to expect that some percentage of it will vanish as a result of fraud, administrative errors and employee misdeeds. Inventory shrink, which includes cash loss, costs retailers an estimated $47 billion annually. It is so prevalent that retailers have a line item for it in their P&L statement.
Customers have come to expect a unified shopping experience across all channels forcing stores to connect the dots between their in-store and online operations. While not all omnichannel features are one-size-fits-all, BOPIS is an option shoppers are coming to expect from retailers. According to a survey from Internet Retailer and BizRate, 53% of shoppers plan to increase their use of buy online, pick up in-store (BOPIS) this year and by not giving your customers the choice, retailers could be losing sales.
From the moment the buy button is clicked through delivery to the shopper, everything that happens behind the scenes is orchestrated by the order management system (OMS). That’s why 45 percent of retailers report they plan to upgrade or implement a totally new OMS in the next two years. A new study conducted by RIS News uncovers the state of order management in today’s complex retail environments and other key findings.
New research reveals that 88% of retailers with new supply chain initiatives said it has helped them exceed customer expectations; and 84% claim these efforts allow them to give customers more control over their shopping experiences.
Succeeding in today’s ever-changing digital commerce world requires mastering a complex mix of people, process and technology innovations that must all work seamlessly together. Organizations face myriad of choices — from developing the right strategy to building a high-performing team and laying a solid foundation of the right technologies.
If you can’t see it, you can’t affect change. This is true for every aspect of global supply chains. The fact of the matter is, even in today’s digital world, most supply chain executives don’t know
what is happening in their global operations. The simple truth is that most of the global supply chain information is spread out across disparate and siloed technology systems or processes.
Crossing Borders is a Hot Topic and Revolves Around the Global Tide of Protectionism. There are volumes of legal documentation and a corps of agents enforcing regulations in each country all over the word. These rules are in place for many reasons: protecting against terrorism, consumer safety, balancing trade, and generating revenue, to name a few.
In the world of blockchain, it is the digitization and uploading of the contractual agreement to a Digital Ledger that becomes the driving force behind any transaction, the Smart Contract.
In this eBook, we explore what more than 4,000 consumers across four different regions of the world - United States, United Kingdom, Canada and Australia - value in their online experience, where opportunity exists, and how brands and retailers can execute to ensure that they maintain a competitive position as the industry continues to rapidly transform.
To keep pace with growing consumer expectations, retailers must be equipped with modern order management systems that greatly expand their fulfillment capabilities. However, many still lag behind. To gain insight into these challenges and retailers’ top priorities for a future OMS investment, Radial partnered with Incisiv to conduct a quantitative survey of retail executives spanning key business functions across the retail supply chain.
In the old days, consumers went shopping because they had to. However, thanks to a plethora of new options, consumers today must now be inspired to want to shop. To improve the customer experience, retailers are looking toward many different options, such as buy online pick up in store (BOPIS), click and collect and ship-from store. While convenient, these fulfillment methods have only further exposed the problem of out-of-stocks.
Chargebacks are an unfortunate reality of a retail business and can be devastating to your bottom line. When you consider that over 84 percent of chargebacks are now due to fraud, developing a comprehensive strategy for managing them is critical for success.
E-commerce has already had a significant impact on warehouse operations and that impact will only increase as e-commerce continues to be the fastest growing segment of the economy. Global retail e-commerce sales are expected to reach $3.9 trillion dollars by 2020, up from $2.3 trillion in 2017.
Radial surveyed 3,000 consumers in the U.S., the U.K. and Canada to better understand issues relating to eCommerce order fulfillment and delivery. The results found that consumers are raising questions about a variety of fulfillment-related issues including the cost, speed, reliability, and eco-friendliness of the fulfillment process.
Growing your business in today’s saturated US market can be a challenge. Amazon continues to dominate the market and their rapid growth is shrinking the pieces of the pie. Customers are no longer bound by brick and mortar stores and are starting to feel more comfortable purchasing from overseas. Paired with the world’s love of American brands, the opportunity for growing your business beyond U.S. borders has never been better.
There is no doubt that this building-block approach, when properly repurposed, can have powerful applications in the field of global trade.
A $2.3 trillion global e-commerce market reflects how profoundly shopper expectations have recalibrated worldwide. Today’s consumers have been rewired by digital disruption. That always-connected, tech-savvy shopper expects a seamless, faster purchasing journey, whether she’s buying online and picking up in store or wants her merchandise delivered in two hours to her door.
In this eBook, you will find proven industry statistics, ROI equations and testimonials that demonstrate how shipping software pays back big.
eCommerce fraud professionals battle their versions of Freddy Krueger, Norman Bates, Michael Meyers and Jason Voorhees head-on every day. And, when it comes to fraud, they often slay the monster. But, while many have their eyes focused on the threat in front of them, they can’t see the real danger—the bigger danger—lurking in the shadows.
The high fraud risks associated with digital gift cards has many merchants worried, despite the fact that overall gift card sales are projected to reach $180 billion in 2018, with a 200 percent increase for digital gift cards, specifically.