Nothing is fair in love, war or retail. Amazon and large retailers are deploying technology that makes it impossible for many retailers to compete. To survive, tomorrow is "day one" to find something to differentiate value.
Topic: Retail Trends
Why this is important: On the surface, omnichannel sounds like a panacea to bolster sales. But, some channels are far more costly than stores. CFOs face new challenges of balancing sales versus the increasing cost burden of omnichannel.
Will you adapt your business to take advantage of automation, growing your sales and increasing your internal efficiencies? Or will you be a victim of automation, another worker displaced because you lack unique skills?
Omnichannel is not cheap. It creates additional layers of infrastructure and costs to sell products through to the end customer. One of most challenging and costly is the "last mile" of delivery.
Why this is important: In order to survive and thrive, retailers are transforming to omnichannel. That will require new capabilities from distributors to in order to meet consumer expectations of more product choice and delivery on their terms.
Profits seem to hiding in plain sight - even in the Gulf. To find them, management has to heed the call for tough actions during tough times. At times like these, businesses have to embrace decisions based on hard facts, and take actions grounded in reality.
Video is the new medium required to package successful branding. The following are my current favorite future predicting retail technology videos.