How to achieve omnichannel excellence, why teens still prefer to shop offline, what retail sales say about economic growth, and more—welcome to this week’s edition of Retail Technology News, a weekly wrap-up from Quantum Retail of some of the top stories in the retail industry. Here’s what was news last week:
Winning the race for omnichannel excellence (RetailingToday)
What’s most noteworthy about omnichannel isn’t how quickly its become part of mainstream conversation in retail so quickly, but how fast it’s become standard operating procedure. This has left many retailers trying to understand the impacts of omnichannel. Here’s how to optimize inventory allocation across channels.
Global ecommerce sales are expected to hit $1.5 trillion this year, up 20% from 2013. But a new study shows one surprising demographic is still devoted to shopping in brick-and-mortar stores: teenagers.
Retail sales increased 1.1 percent last month, the biggest gain since September 2012, with receipts rising in nearly all categories. Combined with news about corporate profits, job growth, and the dollar, these bullish signals have bolstered hopes that growth this year will be the fastest since the 2007-09 recession ended.
The future of retail in 5 charts (Digiday)
While e-commerce revenue remains a small fraction of physical sales, online shopping is growing at a faster pace. An interesting trend within e-commerce’s growth curve has been the rise of “m-commerce”—using mobile devices (smartphones and tablets) to buy goods online—in recent years.
Study: Millennials show brand loyalty (Chain Store Age)
64% of Millennials are more brand-loyal or as brand-loyal as their parents. However, 77% of the Millennials surveyed said they are evaluating brands on a different set of criteria than their parents. Here’s what drives their brand choices.
Effectively managing the evolving retail eco-system [white paper]
Here are strategies retails can use to better understand their customers and deliver the right products to the right channel at the right time and at the right price.