Inventory Challenges

A Conversation on Inventory Challenges

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Consumers continue to change the way they shop (buy anywhere, receive anywhere, and return anywhere), which has had a profound impact on how inventory decisions are made. Get it right, you sell more. Get it wrong, you lose sales. 

Why our phones are the future of checkout

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Since most consumers carry a smartphone with them, retailers should leverage the convenience of customers having a powerful device that is always connected in their purse or pocket. Retailers can develop store apps with checkout software to easily turn a shopper’s smartphone into a mobile checkout.

The always-connected/always-on consumer

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Today’s consumer is always connected and always on. The advent of the Internet and mobile phones has created a new 24/7/365 world of shopping that has forever changed customer expectations and the traditional retail model. Consumers now expect retailers to provide service anytime, anywhere and any way they want it.

The Power of Mobile

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There is no denying the power of mobile technology as a major disruptor in the retail industry. The proliferation and convenience of mobile devices has completely changed shopping behaviors and elevated customer expectations.

Consumers Shop Differently - The Generation Gap

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BRP surveyed 1,298 U.S. consumers to identify how and where they prefer to shop and which factors influence their shopping journey. While the shopping journey varies depending on the customer, product and even season, there are similarities within generational groups.

The Store Still Matters

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Despite what the media and industry analysts want us to believe, the store still matters. 79% of the consumers in our recent Consumer Study indicate they purchase merchandise in a store frequently. So, the store is not likely going away any time soon. In fact, this is likely to rise as 27% of consumers indicate their in-store shopping frequency will increase over the next 24 months.

Consumers want a shared cart across channels

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In BRP’s Consumer Study, 56% of consumers indicated that they were more likely to shop at a retailer that allowed them to have a shared cart across channels instead of a retailer that does not offer this service. Yet only 7% of retailers currently offer this shared cart concept – that’s a huge gap that retailers are struggling to bridge.

MURTEC 2019: A Digitally-Driven and Hyper-Personal Guest Journey is Everything

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The disruptive effect of digital and mobile on the dining guest experience has shifted.  No longer are the impacts of these technologies on the extended guest journey a point of competitive differentiation.They are, in fact, 100% table stakes for not just success, but survival – pure and simple.