Innovative Retail Technologies

MAY-JUN 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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when facing pickup delays. Successful BOPIS implementation strives to fulfill orders faster than promised, whereas unsuccessful implementation misses commitment windows substantially without effectively communicating with customers about order status. A critical misstep by many retailers is failing to better manage customer communications through automated systems (such as texts or emails), alerting shoppers about the arrival of their items or offering vouchers to incentivize prompt collection during off-peak hours. Beyond effective customer communication, one of the most critical aspects of successful BOPIS solutions is inventory visibility. A key ingredient to delivering seamless retail experiences across multiple channels is visibility and access to real-time information. Today's shopper experience is ultimately being driven by product availability or knowledge of when and where a product can be available. Retailers that cannot deliver on that promise will fail by not properly engaging their customers, thereby risking loyalty. This remains a critical pain point for many retailers, especially those fulfilling BOPIS orders directly from their stores. With average retail in-store inventory visibility estimated at 60 to 65 percent, providing customers with an accurate view of what is available through online purchase is virtually impossible. Retailers looking to fulfill BOPIS orders through their physical stores first need to fundamentally fix in- store inventory visibility before embarking on many of the next generation digital transformation initiatives. In addition to supply chain and operational investments, mobile solutions are critical to implementing effective BOPIS/click-and-collect applications. From customer-facing applications to placing orders and managing communications to deploying in-store mobile solutions among store associates who directly support BOPIS fulfillment and the mobile solutions required within warehouses and DCs as operations shift from pallet-based store fulfillment to also support item-level fulfillment for online orders, mobile technology is intimately tied to successful BOPIS initiatives. The Retail Store As Fulfillment Center And The Need To Integrate Inventor y Silos Given the state of the industry today, every option is on the table for many retailers. This includes retailers beginning to change their traditional impressions of owning warehouses and distribution centers, as they explore opportunities to lower costs while improving the overall customer experience — if that is even possible. More specifically, retailers are Mobility 2017 18 According to VDC's research, average in-store inventory accuracy is 65% at best.

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