In today’s highly competitive retail environment, mounting pressure can surround any brand. Consumers want convenience, quality, and transparency. Retailers want to hold their margins. Manufacturers around the globe seek to minimize costs and balance production windows with accelerated turnaround cycles.With rising demand, manual order fulfillment and inventory management processes simply won’t yield success.
In the upcoming March/April 2018 issue of Retail Executive, I dedicate my Viewpoint article to voice commerce, a topic we’ll be covering more diligently as the technology progresses. As such, I caught up with Saeed Amidi, CEO of Plug and Play Tech Center and Retail Executive Editorial Advisory Board member to get his take on the progression of the technology and how retailers should utilize it.
Today, shoppers want to know exactly what they are buying, where it comes from and how it affects their well-being. According to a recent study by Label Insight, 76 percent of shoppers search online for answers when they cannot find information they are looking for on product labels. There is a desire to obtain information about the quality, the origin and the nutrition, and also the desire to support companies and products that reflect their own values and lifestyle.
Customer service has become a key component of the overall customer journey, and more critically, customer lifetime value. Therefore, retailers need to invest in service options to provide choice and convenience to customers.
Email is the simplest and most cost-effective way to reach consumers, delivering ROI of up to 3,800 percent. Yet, many receive a failing grade for their email marketing campaigns. Understanding the power of digital marketing to reach consumers can be a game changer for your business.
To build engagement and understand customers, you have to know who they are, what they want, and what’s important to them. The good news is, there is a lot of data to aid in this understanding.
Blockchain and cryptocurrency: the beloved buzzwords of the technology world. Due to their radical potential, these emerging technologies have been shrouded in doubt and confusion. Yet, even as awareness and adoption have steadily grown in recent years, many experts venture to call this silent revolution the fastest growing digital technology since the internet.
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.
Let Radial handle the complexity and risk of payment processing, fraud management and tax compliance. Our fully outsourced solution turns orders into revenue, sends criminals running, keeps governments satisfied, and turns one-time shoppers into repeat customers.
Radial Fraud Zero delivers a best-in-class combination of people, processes, and technology for end-to-end fraud management. We are 100% focused on converting the highest percentage of transactions and keeping fraud well below industry standards to provide a frictionless experience for your customers. Our blending, cutting-edge technology with rigorous expert analysis translates into higher approval rates and happier customers.
In today’s highly competitive retail environment, mounting pressure can surround any brand. Consumers want convenience, quality, and transparency. Retailers want to hold their margins. Manufacturers around the globe seek to minimize costs and balance production windows with accelerated turnaround cycles.With rising demand, manual order fulfillment and inventory management processes simply won’t yield success.
In a surprising move, Toys “R” Us pulled out of its bankruptcy auction and announced it’s taking steps toward reinventing itself, banking on the value of its intellectual property and the strength and credibility of its brand. Determined to keep the beloved brand out of the retail graveyard, Toys “R” Us’ controlling lenders announced they’re reimagining it as a “branding company” which will license some of its products globally and explore opportunities to create new retail models with partners.
The approach can vary from business to business, but well-timed service is always central to an organization’s customer loyalty and growth strategy.
The decline of the moribund enclosed mall is not impacting U.S. retail sales, as the U.S. Census reported retail sales for the 2018 second quarter (not-adjusted) increased 5.3 percent, along with an impressive double-digit increase in e-commerce sales of 15.4 percent. Retail is thriving, despite the closures and abandonment of enclosed malls.
