Reminders

Retail Omni-Channel Strategies

Photo of Victoria BrownOffline

Reverse Logistics usually gets a bad rap for being discombobulated, time consuming, and operating at a loss. With many of my colleagues and former professors completing research on the topic, when I identify a company that's doing awesome things in Reverse Logistics, I like to applaud them and give them credit for their creativity, organization, and leadership in the space.


Photo of Greg GirardOffline

3 Things Shoppers Want From Retailers

By Greg Girard

I had the pleasure of being interviewed by CenturyLink regarding what omni-channel shoppers expect of retailers for publication in Forbes. The conversation led me to the thought that omni-channel retail creates a state of ever-changing omni-factorial complexity in which retailers have to "solve for" a host of objectives-- broadly across customer, employee, and trading partner satisfaction, financial and market performance, and efficiency. Solving for these objectives demands agility of roles, labor and technology workloads, and processes underpinned by orchestration of consumer, omni-channel, and enterprise technology. Afterwards I remembered something Peter Drucker, "Culture eats strategy for breakfast." I'd add that complexity eats a retailer's profitability for lunch.


Photo of Victoria BrownOffline

If you had asked me at age 10 what I wanted to do when I grew up, I would have told you I wanted to be an Actuary.  If you asked me in high school, the answer would have remained – I was going to be an Actuary, take all of the exams, and go on to be a Fellow in the Society of Actuaries.  It wasn't until my freshman year of college, after an excruciatingly painful Calculus exam, that it even crossed my mind that there were other ways to use math to solve puzzles that could help others.  A stressed freshman whose whole life plan had just been uprooted, I sought advice from my faculty advisor, as well as my peers.  Several of them had similarly started as Actuarial Math majors, and found that they loved the hands on experience that Industrial Engineering brought to the table.


Photo of Luca BonacinaOffline

The following blog post wants to provide the reader with more information about the impact that machine learning will have on retail companies. The aforementioned research piece have been published after Amazon (more specifically the AWS division) announcing their willingness to make their strategic move into the machine learning competitive arena.


Photo of Victoria BrownOffline

IDC Retail Insights New Team Member

By Victoria Brown

Over the last 2 weeks, I've been going through the on-boarding process here at IDC Retail Insights. I have had the opportunity to meet with many of the team members and cannot wait to get started.


Photo of Luca BonacinaOffline

This blog post provides the reader with an overview of the major implications from NRF 2015 for Western European retailers.


Photo of Greg GirardOffline

It's About Time to Rethink Forecasting

By Greg Girard

I've been thinking about forecasting in the context of 3rd Platform characteristics of cloud computing, big data and analytics, social business, and mobility. Commercial forecasting applications came of age on the 2nd Platform. That business and technology model of forecasting is ill-fitted for 3rd Platform omni-channel retailing. This posting summarizes my point of view in the IDC Retail Insights Perspective: It's Time to Rethink Forecasting.


Photo of Leslie HandOffline

We are still in the midst of arguably the busiest holiday shopping weekend of the year, but sales reports for online shopping indicate that online sales records are being set in the US and Europe. Sensationalist or not, video of crowds fighting over deeply discounted products in physical stores, keep shoppers who prefer a more relaxed experience at home, and the big beneficiary may once again be Amazon, at least in terms of year over year growth. Today is also Small Business Saturday, but not surprisingly, these businesses escape the in store boxing matches, and may be big online beneficiaries as well - at least from a year over year same store growth perspective.


Photo of Leslie HandOffline

IoT Primer for Retailers

By Leslie Hand

Not a new concept, the Internet of Things (IoT) is already ever present in the lives of consumers and is being applied in retail to increasingly improve the customer experience. Consumers expect that within five years, retailers will engage them with personalized and contextualized interactions. In the same time frame, if the retailer hasn't figured out how to improve real-time inventory accuracy to 98% or better, it will struggle to close the online or click-and-collect sale. The bottom line is, retailers can improve operations, reduce risk and loss, and wow the consumer with IoT-enabled capabilities.


Photo of Miya KnightsOffline

A recent discussion with an experienced industry leader who is working to reimagine the role of the high street store has highlighted some important implications of current retail omni-channel trends that will have a profound impact on retail business models and IT strategies in future. Rapidly changing, technology-led consumer expectations and demands while online and in-store will make it essential for retailers to better align their business and operations with the core notion of customer-centricity, which goes far beyond providing exceptional customer service.



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