How Covid Has Changed Retail

E-commerce is Stronger Than Ever According to Forbes, e-commerce sales have grown 129% from last year, and are estimated to hit $709.78 billion by the end of 2020, making history for the largest e-commerce sales increase in a single year. Such growth marks a huge change that emphasises the importance of prioritizing e-commerce in today’s […]

CommerceHub + Dsco: Creating the New Digital Supply Chain

Let’s face it, no retailer’s marketplace will be able to compete with Amazon (or Walmart) when it comes to general assortment size. It’s also very difficult to compete in terms of shipping costs, membership perks, and delivery speed. So what other value prop can retailers who are considering opening a marketplace offer their consumers?

Retail Leaders Share Tips on Navigating Peak Carrier Challenges

Let’s face it, no retailer’s marketplace will be able to compete with Amazon (or Walmart) when it comes to general assortment size. It’s also very difficult to compete in terms of shipping costs, membership perks, and delivery speed. So what other value prop can retailers who are considering opening a marketplace offer their consumers?

How to Drop Ship Successfully Part 9: Managing Returns

Shoppers want to understand what they are considering to purchase. Having proper photographs and informative product descriptions that are as detailed as possible will greatly reduce the number of returns. I addressed this in “How to Manage Product Catalog Data” — the key is to use a heavy curation and standardization process. It’s critical that retailers and suppliers work together to get the best, most complete, and accurate virtual representation of these physical products as possible.

How to Drop Ship Successfully Part 6: How to Manage Inventory Visibility

Once you have a virtual product assortment determined — remember, curation is the key — from some number of suppliers, inventory visibility is where drop shipping success will be made or broken. You can’t have many instances where you sell something to a consumer that doesn’t exist and can’t be fulfilled by your supply partners before you have big problems.

How to Drop Ship Successfully Part 1: The Key Solution For Out of Stock Inventory

In a 2018 benchmark study IHL takes a deep dive into the relationship between ecommerce, omnichannel, and out of stocks in brick and mortar stores. Their main conclusion is that out of stocks are a huge issue that retailers have yet to address, costing the industry $984B per year worldwide. And this situation is only getting worse. As more retailers implement omnichannel strategies such as SFS and BOPIS, store inventories and resources are growing more and more strained.

Should you build your own drop ship solution?

In-house solutions can incur a lot of overhead to build and maintain, meaning costs can quickly skyrocket past any potential savings. Additionally, homegrown systems often aren’t as agile as partner solutions and can soon grow out of date without large, continual investment. Finally, since such solutions are customized for the retailer that builds them, trading partners incur significant overhead to make their own systems compatible.

How to build for omnichannel scale

Without robust omnichannel programs, retailers have less assortment, sell less of their inventory, and offer much less customer choice. All of which translates into lower growth and revenue. And yet building a scalable omnichannel program is a labyrinth of financial, technical, and multi-team challenges that can quickly turn into a money-pit with little or no growth to show for it.

Unit-level tracking isn’t a luxury. It’s a necessity.

Around the world, companies hold onto stock they know nothing about, or worse, promise products to customers they don’t have. Typically, retailers and brands operate on data that is only 65% accurate, wasting $1.5 trillion of revenue opportunities. 

Retail Is Going All in With In-Store Fulfillment

Even before Covid-19, in-store fulfillment was a big deal for retailers. In 2018, Target fulfilled 70% of online orders through its stores, while 30% of all of Neiman Marcus’ online orders are shipped from stores as well. With all the disruptions to the supply chain and customer behaviors that the Coronavirus has caused, it’s not […]