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Retail Industry Trends and Technology Business Drivers

News

Deloitte predicts that in 2011, 25 percent of North American big box and anchor tenant retailers will begin offering free in-store Wi-Fi access to shoppers. In 2012, the proportion should continue to rise in North America and start to spread around the world - see http://bit.ly/h2smca

IDC recommends retailers consider adopting immersive shopping technologies as a path from traditional retailing to omnichannel shopping. They have a great Immersive Shopping Experience Technology Adoption Map graphic - see http://idc-insights-community.com/posts/8d4e51e603

Key Issues/Business Drivers:

- Maintain margins despite tight economy; optimize supply chain

- Avoid stock outs on in demand goods, improve responsiveness to trends/opportunities

- Compete aggressively with volume, category and convenience competitors

- Cost effectively educate consumers (mobile, digital displays, wands....)

- Satisfy demanding consumers and integrate their buying experience across channels

- Deal with regulation and compliance

- Optimize costs including IT

- Seek profitable expansion opportunities

- Manage online reputation risk

 

Trends Affecting Retail Businesses:

- Mobile marketing and social media

- Flat panel displays are at an all time low cost

- Demise of some larger chains

- Economy driven changes in consumer buying power and behavior; slow recovery

- Reinvigoration of credit card purchasing

- Stop'n'Shop are experimenting with shopping wands

 

Resources

 

Off the Shelf: The Retail & Consumer Packaged Goods Blog http://www.infosysblogs.com/retail-cpg/

Retail Information Systems News http://risnews.edgl.com/cross-channel-retail/Top-10-Retail-Industry-Predictions-for-201166077

About.com Retail Industry http://retailindustry.about.com/

National Retail Federation - Retail's BIG Blog http://blog.nrf.com/

Retail Blog.com http://www.retailblog.com/

Hand2Hand Solutions - Retail Industry Blog http://www.hand2handsolutions.in/blog/

Position Matters - Retail Product positioning and Visibility http://www.searchandise.net/blog/

McKinsey & Company Retail http://www.mckinsey.com/practices/retail/

IDC Retail Community http://idc-insights-community.com/groups/c6d7545c79/summary