Inventory management has become more important than ever, now that Amazon is changing their storage and shipping fees. Amazon recently announced that they are lowering FBA storage fees in October, but doubling them during the peak months of November and December.
More than 3,000 people attended the three-day Shoptalk conference in Las Vegas last week. The attendees came from all segments of the retail industry: stores, suppliers, startup innovators, data analysts and venture capitalists.
Managing inventory and orders has become more complex and challenging in today’s multi-channel landscape, especially for retailers growing rapidly online. Without a solid inventory management system, it becomes time consuming and difficult to track inventory for different products across multiple fronts and channels.
This week we take a look at some recent developments in the realms of personalized shopping and artificial intelligence (AI) in ecommerce. Retailers, digital marketplaces, social networks and department stores are all trying to figure out the best way to deliver personalized, data-driven customer experience.
Millions of credit card transactions are being processed every single day, whether on the Internet or in person. This opens numerous opportunities for cybercriminals, risks that need to be addressed by business owners. Retail was the most targeted industry for data breaches, accounting for 23% of all security investigations analyzed by Trustwave last year.
Mother’s Day is one of the biggest shopping events on the calendar for many businesses. In the US, Mother’s Day spending is expected to reach $21.4 billion this year, according to the National Retail Federation (NFR). Consumers will spend an average of $172.22 on Mother’s Day gifts this year, slightly below last year’s record of $172.63.
In today’s complex, multi-channel landscape, many retailers are looking for a competitive edge to cut costs and improve sales. Companies are turning to in-store fulfillment or “ship-from-store” strategies to increase revenue and margins by better leveraging the inventory in their stores; however, there are challenges and impacts to business functions and staff when implementing this kind of fulfillment model.
Much of ecommerce now revolves around the customer experience. Businesses are investing more in warehouse technologies to support faster delivery, and tech giants are developing various solutions to convert mobile shoppers. Product information has become so valuable that many consumers today wouldn’t purchase a product without first researching them online or trying them personally at a retail store.
Earth Day reminds us that there are alternative ways to do things more efficiently as we influence the world around us. Whether it’s about saving water or making your own coffee, there are many ways to trim expenses and do more with less time and less money. Retailers and brands can do the same for their ecommerce strategies.
B2B companies can learn a lot from B2C retailers. According to research, ecommerce is expected to thrive in both markets, but B2B sellers are lagging behind when it comes to implementing successful ecommerce solutions…