The role of real-time information in retail risk management
From changing consumer habits and preferences, to the accelerated shift towards e-commerce – the continued and unforeseen impact of the COVID-19 pandemic has completely transformed the risk landscape for retailers.
During months of store closures, and stop-start lockdowns, retailers have had to build operational resilience and flexibility into their store estate and workforce, whilst ensuring the highest levels of health and safety in-store to keep both customers and employees safe.
Meanwhile, the booming e-commerce market has forced retailers to address the constantly evolving cyber and fraud risk, while events around the globe continue to disrupt supply chains. As a result, those who lack 24/7 visibility can put operational continuity at risk and produce disjointed customer experience, with all of the reputational and financial risk that brings.
To tackle this, many retailers are turning to on-the-ground information via real-time information platforms, which use AI and machine learning to process billions of data units from thousands of public information sources across the globe to alert them to emerging and sudden threats as they occur.
To delve further into these challenges for retailers and possible solutions Retail Systems was joined by Helen Sutton, Senior Vice President of EMEA and APAC sales at Dataminr.
What a difference delivery makes to retail in 2021
The last 12 months have seen unprecedented turbulence for the retail industry, with the boom in e-commerce and changing customer expectations upending business models and forcing retailers to adapt their supply chains and delivery processes in order to survive.
And as consumers look set to continue shopping online in the new retail landscape, the role of a positive post-purchase, delivery and returns experience has become critical to ensuring customer loyalty and a retailer’s reputation.
The next six months will also be a test for the changing role of the store, with the omnichannel model placing experiential retail at the heart of a retailer’s physical and brand strategy. As a result, retailers are under more pressure than ever to reshape their supply chains and business models to ensure operational resilience and provide excellent customer experience.
To explore these challenges, Retail Systems was joined by Duncan Licence, vice president of global product at Metapack, an e-commerce delivery management software provider. This episode delves further into how shopping preferences have changed in the last year, the changing role of bricks and mortar stores and takes a look at the future of e-commerce and what this is likely to mean for post-purchase and delivery.
The price of fast fashion
While the clothes we buy are affordable – the cost of rising demand, endless choice, and a constant turnover of new styles – is high.
The environmental impact of our shopping habits is alarming – in the UK, roughly nine and a half thousand garments are dumped every five minutes. The social consequences of limitless access to cheap garments, are just as concerning.
Alexandra Leonards spoke to Dana Thomas, fashion journalist and bestselling author, about her latest book – Fashionopolis. The book takes a detailed and comprehensive look at the fashion industry, exploring how we got to a place where more than 100 billion tonnes worth of garments are made every year.
Ethical fashion: how big retailers can learn from independent brands
Not only do retailers have a moral responsibility, but with consumers becoming increasingly concerned about where their products come from, there is also a clear economic argument for sustainability, transparency, and ethical sourcing across retail supply chains.
With a growing scrutiny of fast fashion, high-profile exposures of poor working conditions within retailer supply chains, and ongoing reports of forced labour in Northern China, the call for ethical fashion has never been louder.
Alexandra Leonards explored how retail chains can learn from smaller, sustainable brands with Kalkidan Legesse, the co-founder and managing director of independent ethical clothing and lifestyle store Sancho’s, in the first episode of Retail in Focus.
Find out how HULFT can help you manage data, integration, supply chain automation and digital transformation across your retail enterprise.
Talking shop: retail technology solutions from Brother
Retail Systems editor Peter Walker sits down with Brother’s senior commercial client manager Jessica Stansfield to talk through the company’s solutions for retailers and hospitality businesses, what’s new in labelling technology, and the benefits of outsourcing printing.