With a multitude of emerging tools and techniques available to support and expand business, it is an exciting, and challenging, time to be a retailer.
Consumers want a seamless omni-channel shopping experience which requires more functional capabilities than ever before. Despite significant advancements in the technology to support omni-channel, adoption of transparent cross-channel inventory has yet to become a reality at most retailers. The desire is strong and the need is clear. Now retailers must work to broaden their vision, realign processes and replace their legacy systems. Developing a strategy and roadmap for offering a real-time view of retail is now essential for success.
Recently, Boston Retail Partners released its 2014 Merchandise Planning and Allocation Survey which explores the current state of the retail industry and how technology is shaping retail capabilities. The report highlights the priorities, processes, tools, and strategies of today’s retailers, and reveals windows of opportunity for retailers as they evolve into enhanced business models that support the growing need for unified commerce.
The research uncovers a few alarming statistics: