[ Q ] Item-level RFID is proving to be a key component in delivering accurate inventory data on a consistent basis. Why is this so important for retailers today?
Research & development (R&D) expenditure for a few key fast-moving consumer goods (FMCG) companies was down in the financial year ended March. This took place even as the pressure to maintain both visibility and excitement with new or improved products grew, at a time when consumer spending remained tepid.
This month we want to highlight the accelerated changes taking place in retail and how savvy retailers are responding through innovative new technologies. Worldwide and especially in Asia, consumers are now highly connected through mobile devices that they are increasingly using to “assist” and enhance their shopping experience. The brick and mortar store is becoming just one of the elements factored in the shopper’s journey to a purchase.
Omni channel retailing adds the flexibility of cross-channel and mobile shopping to the unique revenue and loyalty building capabilities of the face-to-face retail experience. It offers opportunities to build deeper shopper relationships and enhances the availability promises that can be a risk due to out of stock.
Supply chain visibility and stock availability equals more revenue
The convergence of the physical and digital dynamics in the omni-channel is presenting a huge challenge to retailers, who need to make their way in the new retail landscape and create new strategies that will fit in. However, it isn't true that everything is new.
In a recent web conference entitled 'Convergence of Digital and Physical Dynamics in an Omni-channel World, IDC Retail Insights presented the complicated balancing act retailers must face in the new retail landscape to manage the colliding forces of the old and new, as well as the tools they can use to succeed.
The monsoons may have begun in right earnest this year bringing much-needed respite from the sweltering heat of April and May, but there were some consumer goods companies who didn't mind the hot weather at all. For them, the rising mercury levels meant roaring business after two years of suffering the pangs of a cool summer.
After struggling for much of FY13, fast moving consumer goods (FMCG) companies seem to have retrieved some of the lost ground in the last quarter. The results declared by key companies for the three months ended 31 March show most firms have managed to arrest the moderation in volume growth witnessed in previous quarters.
Under pressure to deliver organizational growth and improve in-store operations, a premium lifestyle brands retailer deployed Tyco’s Traffic Intelligence Solution. With a network of 235 stores across 16 countries, it can now use real-time data to guide promotional, merchandising, and staffing decisions in order to maximize conversion and sales.
Significantly increasing shopper conversion rates has been one of the main motivations for Singapore-based FJ Benjamin Holdings to invest in traffic intelligence.
Retailers have traditionally worked with razor-thin margins and loss prevention continues to be a crucial area for helping them protect profits and secure their bottom line from multiple sources of threats - from the petty shoplifter to dishonest staff, to organized retail crime syndicates.