Inventory distortion is a critical problem for retailers and, if left unaddressed, it will only worsen. The term refers to the total business costs resulting from both overstocking and stockouts. Just last year, the cost of inventory distortion in retail amounted to $1.7 trillion worldwide. Inventory distortion can significantly impact retailers’ profitability. Excess inventory leads…
Jessica Grisolia
A surge of new online shoppers, artificial intelligence and omnichannel retailing have upended retail in only a few years. As the industry continues to evolve, the demand for innovative technologies grows with it, and one tool that’s become increasingly popular is electronic shelf labels (ESLs) — especially in the grocery sector, where the need for…
The retail industry is an integral part of the U.S. economy, providing jobs for 52 million people across the country, more than any other industry. Frontline retail workers are the glue that holds businesses together. Yet, the challenges they face often go unaddressed, especially given their growing list of responsibilities, made even longer by the…
The pandemic kickstarted an omnichannel shopping trend, with 60 percent to 70 percent of consumers researching and purchasing both in-store and online. At the same time, customer experience remained king. As consumers become increasingly demanding and accustomed to the ease and convenience of shopping online, physical retail stores are having to step up their game.…
