The amount of pollution and waste generated by the production of consumer goods and fast fashion has drawn scrutiny from governments, non-governmental organizations and consumers alike in recent years. As environmental concerns increase globally, the call for companies to act responsibly and adopt more sustainable practices in sourcing, manufacturing, packaging and distribution processes will intensify. The good news is that not only are companies rising to the challenge, but many global brands are leading the way by taking a more sustainable approach to product development.Read More
In the digital age of commerce, retailers in almost every segment realize that reaching consumers has become more complex and more fragmented than ever before. Even as touchpoints multiply, consumers demand a consistent, integrated mobile, ecommerce and in-store experience. They expect brands to provide exceptional experiences that make it easy for them to research and purchase the items they need, regardless of channel. And because of this new market landscape, retailers must provide their customers accurate and complete product information as the catalyst to achieving category leadership and business success.Read More
There are many benefits to reap from master data management (MDM). Providing higher efficiency or enabling new business – a positive ROI is almost unavoidable regardless which industry you serve or organization you operate.
Taking retail as an example, mastering your various data domains addresses some of the most business-critical issues such as growing the product catalog, increasing customer loyalty, reducing product returns and accelerating sales.Read More
This week I, and Stibo Systems colleagues, attended NRF 2019: Retail’s Big Show in New York, where we listened to amazing sessions and spoke with various retailers – both domestic and international. These are my take-aways from one of the most significant retail events in the world.
Let me start by highlighting the one NRF topic that seemed to bind all the others together: data! Data and data management were hot topics and at the forefront of the business driven conversation. It seems there is now a better understanding of the need for high-quality data and good data management as the foundation for business success.Read More
Fourth quarter holiday shopping results have always dictated retail financial success. While the marketing channels, tactics and consumer preferences have changed over the years, the fact that many retailers reap as much as half their annual revenue between the Thanksgiving and Christmas holidays has remained constant.Read More
Among management teams in businesses all over the globe, there’s an increasing focus on the long awaited European Union General Data Protection Regulation, the GDPR, that is finally coming into force on the 25th of May, 2018. The new regulation has put data protection on top of many businesses’ priority list. But so far, the GDPR has pretty much escaped the attention of the average consumer. But as we get further into 2017 and nearer the deadline, the general public - especially in Europe of course - will become increasingly aware of the GDPR and the opportunities it brings for them. And that will be felt through changing consumer patterns; which companies need to be ready for. But is your company prepared for customers that know the worth and risks of sharing their data?Read More
From the fireside chat with Sir Richard Branson (hire good people, and give them a purpose) and the Expo Hall themes from vendors (empower your store associates with technology), all the way to the bannered tagline of this year’s show (“Retail’s Future Isn’t What, It’s Who”), a common thread at the NRF’s 2017 Retail BIG Show was a focus on people. Indeed, even Walmart’s presentation on digital transformation spoke specifically to how critical their in-store associates are to the buying experience.Read More
We’re living in the golden age of retail. At no point in history have retailers had access to more data than they do today. This is all thanks to a digital transformation retailers have been going through that allows them to capture more streams of product and consumer data than ever before. This data is gleaned through channels such as social media, web, live chat, in-store and email.Read More
The rise in digital, and the success of online shopping giants Amazon and Alibaba, is pushing some traditional brick and mortar retailers such as Fnac, Best Buy, and Carrefour to launch online marketplaces: “A type of ecommerce site where product or service information is provided by multiple third parties, whereas transactions are processed by the marketplace operator."1
Creating online marketplaces is a way that traditional retailers can join ‘the party’ online as well as better meet customer expectations. The latter is, according to a recent survey, the number one reason that retailers are implementing digital transformation initiatives (78% of surveyed retailers agree).Read More
The impact of the digital economy has created new opportunities and challenges for all CEOs particularly for those in the retail sector. What began as a quest to create the perfect customer experience, retailers quickly turned their attention to creating a superior omnichannel environment to keep up with the proliferation of devices and to meet the ever-changing shopping habits of consumers. Digital tools are disrupting the business environment and require significant changes in operations, communications, and selling…and it is about to get much worse.Read More