HFN – Retailers are acknowledging there’s a major gap between their expectations regarding an omnichannel plan and their ability to execute it.
As a new report from Boston Retail Partners (BRP) pointed out, retailers are increasingly focused on transforming their entire merchandising process and “customer-centricity” is a top strategic initiative for 47 percent of the retailers it surveyed.
Consumers “pre-shop” for merchandise online before they ever enter a store, want one-day or even same-day delivery and expect “more” from their shopping experience—more personalization, a larger assortment, a more fulfilling experience and non-stop entertainment, BRP’s 2017 Merchandise Planning Survey noted.
“Customers use technology daily to enable and control their shopping journey,” said Gene Bornac, senior vice president at BRP. “Now it is up to retailers to play catch up with their organization, processes and technology to deliver the right products for the right price in the right place.”
The BRP survey explores the current state of retail planning in an effort to identify and understand retailers’ priorities. The survey found 58 percent of retailers currently have an integrated planning organization across channels and 64 percent of them have integrated their business planning processes across channels.
In addition, 33 percent of retailers have implemented new omnichannel demand planning systems within the past two years. Forty two percent incorporate real-time customer feedback into their in-season planning.