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The Seven Deadly Sins of Retail

The retail industry of today is a hyperactive and ever-changing environment, ripe with emerging technologies, competition, and an opportunity for those able to navigate through the waters of uncertainty. Retailers today not only need to be able to see through the smoke of change to determine the best path forward but also need to avoid the most common mistakes that have marked the end for past retailers. Here are seven deadly sins to avoid in today’s retail environment.

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Topics: brick-and-mortar retail, technology adoption, artificial intelligence, markdowns, inventory optimization, advanced analytics, ecommerce, data overload, data, demand prediction, speed, accuracy, customer preference, innvoation

Is Retail Going the Way of the Dodo?

Innovation and adaptation drive success in all competition-based systems. In the natural world, animals that evolve to have competitive advantages like size, speed, or cunning will exploit those competitive advantages to set themselves apart from others, fighting for shared resources. Those who do not adapt and find methods to outperform rivals they compete against ultimately face starvation and extinction. In the retail world, new competition and changing consumer habits are making it harder for retails to survive. What can retailers do to evolve and keep from going the way of the dodo?

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Topics: brick-and-mortar retail, technology adoption, artificial intelligence, retail apocalypse, markdowns, inventory optimization, advanced analytics, ecommerce

6 Proven Ways AI Will Improve Your OMS

As we progress into the next fiscal year and roll through the daily motions required to meet a new set of annual objectives, retailers like you know — better than anyone — how fleeting the status quo in the retail world can be. Fulfillment models have evolved tremendously over the past decade, yet many of the systems merchants rely on to meet new delivery expectations have not. In today’s retail environment, the point of purchase can be wherever the consumer wants to be, adding a new level of complexity to the standard, rules-based order management system (OMS) running every e-commerce transaction coming through.

That being said, to be efficient, profitable, and fast for online delivery requires an ability to adapt to consumer’s ever-changing needs in advance while leveraging your stores. This means arming systems with predictive insights to anticipate demand and understand what/when/where your next customer will buy.

So, the question stands, how exactly have retailers tackled the challenges online fulfillment presents? Here are six proven ways AI will significantly improve your existing OMS:  

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Topics: brick-and-mortar retail, technology adoption, ecommerce, artificial intelligence, order fulfillment, order delivery, OMS, order management systems, ship-from-store

Top Retail Industry Experts You Need to Follow on Social Media

With the constant stream of blogs and articles pouring into the chaotic whirlpool of retail news each day, prioritizing what to consume on the reg. can get pretty overwhelming. For that reason, we pulled together a list of top retail industry influencers to follow across social media (Twitter, LinkedIn, Facebook, etc.), whose fresh perspectives have proven useful and insightful time and time again. 

Listed in alphabetical order, check out this list of notable retail industry experts you need to follow on social media for unique and quality content on the happenings behind the long, unpredictable retail journey ahead of us:

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Topics: retail news, consumer insights, brick-and-mortar retail, technology adoption, consumer trends, ecommerce

Part Two: Q&A with Aéropostale’s SVP of Planning & Allocation on Tech Adoption

"Retailers must become top performers in digital business transformation if they are to succeed in delivering unified retail commerce experiences for customers." - Robert Hetu, Gartner   

If you follow our blog, then you probably know all about our latest webcast with Aéropostale’s SVP of Planning and AllocationKaren Walter, who sat down with us last month to talk about how her team is embracing advanced analytics in today's evolving retail landscape. 

One of the biggest themes throughout our conversation focused on digital transformation.

This is, by far, one of the most prominent themes overtaking the industry as legacy retailers frantically search for new technology solutions to respond quickly to the changing demands tugging at their shirttails in fifty different directions. 

However, a defining factor rooted in some of these struggles is an inability to effectively adapt traditional, existing business processes with transformative data-driven, technology initiatives.

"Gartner's retail clients are rightfully concerned about how to accomplish the herculean task of transforming a traditional, multichannel retailer into a digitally enabled provider of unified retail commerce." - Robert Hetu, Gartner, 2018 Retail CIO Agenda

Furthermore, some of the questions plaguing many retailers in this position, according to Gartner, include the following:

  • How should we prioritize new technology investments?
  • How do we gain consensus across the business?
  • How do we effectively manage organizational change?

These questions may appear simple, but they're far from it. Adopting a new technology is a huge undertaking, and figuring out the best way to go about it will be slightly different and unique to every organization.

In our Q&A with Aéropostale, Karen shares her experience when dealing with new technology adoption and some of the challenges she faced along the way. 

Read on to see what Karen has to say below!

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Topics: inventory optimization, advanced analytics, data, predictive analytics, merchandise planning, technology adoption, digital transformation

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