Retail

Retail (152)

Amazon Looks to Use Empty Mall Space for Fulfillment

As other organizations face a rough time due to coronavirus pandemic, Amazon seems to be having a good time. The company just reported the best ever quarter, meaning the company is making profits and is gaining more power with time. Despite the losses that have reduced traffic in malls for quite some time, customers seem to be shifting their attention to online shopping. And then the coronavirus hit. As it appears, Amazon might soon take over spaces of bankrupt retailers who are struggling with the coronavirus pandemic and other issues.

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Has COVID permanently altered US retail?

Long before COVID-19 was even a blip on the radar, countless obituaries had been written for traditional shopping, mega malls, brick and mortar retailers, and mom and pop shops. According to a new survey of US shoppers, the ongoing global pandemic is on track to all but eliminate retail and commerce as we once knew it. 

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Adapting Your eCommerce Strategy During COVID-19

During the global COVID-19 pandemic, most eCommerce businesses were severely affected by supply chain issues. This happened first and foremost due to importing and exporting from China being shut down. However, there are precautions you can take and ways in which you can adapt your eCommerce strategy for your business not to go under. Based on my experience as a businessman, I believe these risks can be avoided by paying special attention to sourcing and fulfillment centers. By doing this, you will be prepared for any mishaps like the ones occurring due to COVID-19.

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How Scent-maker Empire Candle Co. Ignited 300% Growth with ERP Technology

It is estimated that more than 10,000 different candle scents are available to consumers today. According to the National Candle Association, U.S. retail sales of candles - not including accessories like hurricanes, matchboxes, and wick trimmers - are estimated at approximately $3.2 billion annually. Founded in 1951, Kansas City-based candle and fragrance company, Empire Candle Co. is one of the major manufacturers in the billion-dollar industry. 

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How Different Will Retail be as Tech Buying Takes Over?

The retail industry has been going through a raft of significant changes since the last decade. These changes have been occasioned by the increased internet access and the rise of artificial intelligence, virtual reality and robotics, all of which have proven helpful in many industries. As we move into the future, many technologies keep coming up and the industry will no doubt be revolutionized for the better. The changes will, without doubt, change retail as we know it to a completely different one going forward and you can expect these changes starting now.

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Apply Data Science to Enhance Your Supplier Relations

Over the past few years, the terms big data and big data analytics have become common keywords in almost every industry. However, we have now come of age and these terms are being put into action to solve different real-life problems. In the procurement and supply chain industry, big data has become critical, considering the complex nature of the industry.

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Online Shopping vs. Holiday Demands - How should the supply chain prepare ahead of time?

More consumers are shopping online year-round, which means the holidays are becoming less important for retailers when it comes to hitting their yearly numbers. The ease of online shopping is driven by consistent deal days. The “Amazon Effect” continues to take hold and influences retailers like Walmart to stay competitive year round with online initiatives. These trends pull shoppers’ dollars forward and away from November and December. It means there is a constant demand for goods all year long, and that supply chains will have to adapt to this year-round “holiday-like” pressure to prepare and meet consumer expectations.

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Closing of some brick-and-mortar retailers part of natural evolution

The national news has been filled with stories about the demise of brick-and-mortar retailers, but such closures are part of a natural evolution of this sector, says a Ball State University researcher.

Steve Horwitz, Distinguished Professor of Free Enterprise, is not surprised that more than 1,700 stores are expected to close in 2200 as part of ‘retail apocalypse.”

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Online Shopping vs. Holiday Demands - How should the supply chain prepare?

More consumers are shopping online year-round, which means the holidays are becoming less important for retailers when it comes to hitting their yearly numbers. The ease of online shopping is driven by consistent deal days. The “Amazon Effect” continues to take hold and influences retailers like Walmart to stay competitive year round with online initiatives. These trends pull shoppers’ dollars forward and away from November and December. It means there is a constant demand for goods all year long, and that supply chains will have to adapt to this year-round “holiday-like” pressure to prepare and meet consumer expectations.

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Blockchain is Invading the Fashion Industry

Blockchain discussion is everywhere. Starting in 2017 when the concept gained momentum, many industry-wide applications have emerged. The decentralized ledger technology that is the basis of blockchain has brought scalability, enhanced speed of transactions and improved security and will, without doubt, transform the world. With these advantages, industry leaders are now exploring possible ways that they can use this technology to their advantage.

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