Technology Challenges in Retail Industry

Market HighlightsIt is estimated that the global individually quick-frozen fruits & vegetables market is likely to show significant growth during the forecast period, from 2018 to 2023.

IQF fruits & vegetables are currently given much attention with rapid development in the IQF technology.The global IQF fruits & vegetables market is driven by the increasing demand for convenience food and growing consumption of seasonal fruits & vegetables.

IQF fruits & vegetables are superior in flavor, quality, and nutritional value than conventionally frozen fruits & vegetables.

However, the lack of a strong supply chain and distribution network in some of the countries may hamper the growth of the IQF fruits & vegetables market during the forecast period.Key PlayersArdo N.V. (Belgium), SunOpta Inc. (Canada), Capricorn Food Products India Ltd. (India), Uren Food Group Ltd. (UK), BS Foods B.V. (the Netherlands), Rosemary & Thyme Ltd.(UK)., Milne Fruit Products Inc. (US), Frutex Australia Pty Ltd. (Australia), Shimla Hills Offerings Pvt.

Ltd. (India), Alasko Foods Inc.(Canada), AXUS International LLC.

are some of the key players in the IQF fruits & vegetables market.Regional AnalysisGlobally the market has been segmented, by region, into North America, Europe, Asia-Pacific, and Rest of the World.

• The urban population has ballooned by half of the global urban population.

That’s why customers are looking for stores that offer multiple delivery options and alternatives to select the delivery window.

Here comes the role of last-mile strategy and the technology leveraged to evolve the last-mile delivery services for meeting the new expectations while maintaining profitability.

The concept of same-day delivery, free delivery, or delivery in an hour brought to the world by leading giants such as Amazon, Walmart, or Target has certainly added convenience to the customer’s life and helped them gained a major share of the market.

Again, the small inventory negatively impacts the last mile delivery services because the limited number of inventory sources won’t let the retailers deliver the product in the defined window of time that in turn hurt the customer experience.

Even, the retailers can consider the vendors who can execute shipping at a faster rate.

Add digital disruption, new business models, world-wide pandemic, and increasing consumer expectations to the mix sustained profitable growth becomes even more elusive and challenging.

With such a vast digital expansion, retailers must begin to find distinct ways to set themselves apart within the ever-growing digital landscape.

Billions upon billions of dollars are spent by companies working to remain effective, which means retail leaders are now looking deeper into retail analytics for guidance, insight, and direction.So, what are “Retail Analytics” and how can they be valuable?

The term “Retail Analytics” points to the processes and techniques used with collecting, discovering, and analyzing your retail data for strategic and valuable consumer insights.

Data such as foot-traffic and inventory levels help you map out the customer journey and provide details about your customers which can present an opportunity for retailers to better understand them and their CX (customer experience).

Thus, providing alternative avenues for marketing and strategies to effectively raise brand awareness, move more product, or help businesses curate more compelling offers and incentives.The opportunities to give your customers a personalized experience have now become the next level in retail marketing and it’s far more than just a simple strategy, it’s the survival mechanism that is every retail business reality today.

Could software robots assist the physical robots in retail stores?

Does RPA even offer some tangible benefits to the retail industry?Yes, it does!

And in this blog, we’ll tell you how.

These past years, the retail industry has emerged as a leader in the group of prominent and growth-oriented sectors.But the increasing complexity and dynamic shifts have rendered the traditional methods of retail, anything but obsolete.

Retail is a low-margin but high-volume industry- meaning a subtle change in customer demand can disrupt the functioning of the entire industry.

And that’s exactly what’s happening today!With increasing competition and price-wars, sustaining a successful run in the Retail industry- be it online or offline, is a strenuous process.The viable option to keep operations up and running effectively, however, is to offer improved customer experience & automate business processes.

MODERN RETAIL DESIGN: OPTIMIZING RETAIL STORE EXPERIENCE

IMPORTANCE OF AMBIENCE IN ENHANCING CUSTOMER EXPERIENCE

Retail Cloud Market – OverviewThe broad application base of Retail Cloud Market 2020 is expected to benefit its future growth plans.

The ICT industry reports are produced by Market Research Future, which highlights market options for expansion.

Mexico is also seeing towering growth owing to a rise in foreign savings.Canada is anticipated to have the uppermost CAGR, while the US is projected to have the principal market share through the forecast period.

The region has been split into nations such as the UK, Germany, France, to understand the market better.

The existence of e-commerce players in the UK who are investing in the German market is playing a foremost role in the development of the market in the region.Segmental AnalysisThe segmental insight of the retail cloud market has been conducted based on the service model, type, component, deployment, and region.Based on the types, the retail cloud market has been segmented into customer management, supply chain management, merchandising, analytics, workforce management, omnichannel, data security, and others.On the basis of the components, the retail cloud market has been divided into solutions and services.Based on the service models, the market for retail cloud has been segmented into infrastructure as a service, platform as a service, & software as a service.Based on the deployment, the retail cloud market has been segmented into private cloud, hybrid cloud, and public cloud.Competitive AnalysisThe reinvention of the supply chains by integrating robust technology in them is estimated to spur the development of the market in the coming period.

The state of technological development is estimated to be staggered as the development of the global market is at a relative standstill.

From centre stage to supporting player outlines how digital technology, previously seen as a competitor for physical, bricks-and-mortar retailers, can be harnessed better to offer a truly integrated, responsive shopping experience and improve customer retention and acquisition.

Solutions & Technology used in the Retail Industry

Retail Enterprise Software Applications – Enterprise-wide application platform for various segments such as general merchandise and grocery for efficient customer relationship management, omnichannel, scalable and available globally.

Consulting helps retailers understand the importance of using simple, tried-and-tested toolsets to diagnose operational issues, identify business improvements and build the case for technology change.

App user acquisition, engagement and retention are challenges for many retailers as they look for the right value proposition to offer customers.

Users can conveniently compare prices, search different options, goods and other buyers reviews using their smartphones.