Innovative Retail Technologies

MAR-APR 2017

Innovative Retail Technologies (formerly Integrated Solutions For Retailers) is the premier source for innovative yet pragmatic technology solutions in the retail industry.

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11 Mar-Apr 2017 Does Urgenc y Translate Into Action? While many in the industry, including RSR, have been urging retailers to act in the face of an increasingly digital (and omni-channel) shopper, retailers have been slow to make any real progress. Does this new view of the retail shopper — one that reflects some progress in understanding whether multichannel shoppers are worth pursuing over single-channel shoppers, one that expects the number of single-channel shoppers to drop significantly over the next three years — translate into retailers finally taking definitive action or making significant progress in achieving an omni-channel strategy? That is what this benchmark seeks to uncover. Survey Respondent Characteristics RSR conducted an online survey from May to June 2016 and received answers from 134 qualified retail respondents. Respondent demographics are as follows: 2015 Revenue (US$ Equivalent) Less than $50 million 21% $51 million - $249 million 4% $250 million - $499 million 11% $500 million - $999 million 12% $1billion to $5 billion 29% Over $5 billion 24% Products Sold: FMCG: C-store, Food & Drug, Healthcare Products 16% Apparel (Footwear & Accessories: Luxury, Men's & Women's, Kids, Personal Care) 26% Hard Goods: CE, Hard Goods, Home Décor, Improvement, Automotive 19% General Merchandise: Discount, Mass Merchant, 23% Hospitality, Restaurant, Retail Services, Entertainment, Other 12% Boutique Retail 5% Headquarters/Retail Presence: HQ Retail Presence USA 78% 83% Canada 3% 44% Latin America 3% 25% U.K. 4% 23% Europe 6% 30% Middle East 0% 9% Africa 1% 8% Asia/Pacific 4% 21% Year-Over-Year Sales Growth Rates (assume average growth of 4.5%): Better than average ("Winners") 42% Average 43% Worse than average ("Laggards") 16% Consumer concerns over privacy have forced us to reevaluate our strategy Online competitors are changing the cost structure and profitability of our business model A good customer experience in one channel is not enough to maintain customer loyalty Consumer expectations outpace our ability to deliver cross-channel experiences Digital channels are exposing our company to new sources of competition Our competition is doing a better job understanding and acting upon customers' cross-channel behaviors The way consumers use different channels to make purchase decisions is unpredictable but important to understand 60% 43% 49% 43% 46% 53% 46% 43% 38% 47% 19% 8% 11% 28% Top 3 Omni-Channel Business Challenges Winners Others Figure 1: Performance And Focus Go Hand In Hand

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