If there’s anything the team at Retail Technology Insider knows for sure, it’s that times are ‘a changing in the retail world. With movers and shakers like Amazon pushing retailers to re-think their entire strategic approach, retailers are faced with the harsh reality that they need to adopt the right technology ASAP.
So for this week’s roundup, we thought it would be smart to take a look at what some of the most in-tune retail experts are sharing about this retail revolution taking place:
5 Surprising Takeaways from Home Delivery World 2018
Following Home Delivery World last month, Retail Dive’s Christopher Walton shared his biggest takeaways from the show, really highlighting the largely unknown (or at least deprioritized) factors of the supply chain/last mile side of retail. He stated, “These were the people closeted in the dark recesses of companies, writing algorithms to solve the complex logistical problems that will separate the haves from the have nots as the future of retail unfolds.”
Here’s a quick run-down of the key messages he took away from the show regarding the last mile evolution:
- Leadership requires discipline
- Sh*t is getting heavy
- We don’t talk about Home Depot enough
- George is about to get his Jetson on all over grocery
- The last-mile delivery space is crowded
Read the whole story here.
How Computer Vision Tech is Revolutionizing Brick-and-Mortar Retail
Perch Interactive’s CEO Trevor Sumner wrote a piece for Retail Customer Experience about the importance and value of an experiential shopping strategy and how traditional retail players like Macy’s are going toe-to-toe with offerings like Amazon Go through a hybridized retail technology approach.
“The physical retail experience seems to have become an enjoyable, entertaining and informational experience for shoppers — and for the ones who get it right, a profitable endeavor for retailers,” he wrote. By getting to capitalize on technologies like the cloud and AI while still having the edge of in-person customer interaction, brick-and-mortar shops have a fighting chance in Sumner’s opinion.
Read the whole story here.
Physical Retail Is Not Dead: Boring Retail Is
Forbes contributor Steve Dennis offered his take on a long-lasting feud in the retail world: is physical retail dead? Admittedly, headlines like that surely draw in readers, but to Dennis, they simply aren’t true. “An inconvenient truth to those pushing the ‘retail apocalypse’ narrative, physical store openings actually grew by more than 50% year over year,” noted Dennis. “People also seem to forget that, according to most estimates, about 91% of all retail sales last year were still transacted in a brick-and-mortar location.”
What is dying though is the old-hat, two dimensional approach that doesn’t take into account any of the amazing retail technology at our disposal today. A great example is the demise of Toys R Us; a lack of adaptation and evolution is a surefire way to sign your retail death warrant.
Read the whole story here.
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