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The lack of visibility in omni-channel retailing is leading to lost sales, loyalty & revenue

It is no secret that customer expectation for a consistent omni-channel retail experience continues to grow but what is the true business cost for retailers who aren’t yet joining up all the dots in their omni-channel service? Recent research conducted by Sapio Research on behalf of supply chain technology specialists Zetes, in association with Zebra Technologies, reveals just how customers are responding to subpar events and the way they expect a retailer to respond across all channels.

By: Zetes

The issue for retailers is that customers have limited patience and expect their experience to be fast and efficient: the majority of customers (70%) would not be willing to wait for longer than five minutes in-store to find out whether an item is out of stock; 30% no longer than two minutes. Online, this customer behaviour continues. Within the grocery sector, 26% of respondents would look for a substitute or something similar online if their desired item wasn’t available, whilst 30% of consumers shopping for homeware and 31% for fashion would go to another website or abandon the whole purchase. The financial implications are very significant, with homeware stores losing up to 33% of their sales and fashion 31%, as a result of out of stock items.

Moreover, over three quarters (78%) of customers would consider not using a retailer again if a delivery was late or incomplete three times, with nearly a third (31%) prepared to accept just one late or incomplete delivery. If customers are employing the ‘three strikes and out’ rule in one channel, it is more than likely the same attitude is being applied across every channel, creating a significant impact on the customer experience, and by default, loyalty.

Customer expectations are undoubtedly reinforcing the need for strong supply chain mod


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15 Nov 2017
Are manufacturers ready for Industry 4.0?
 

From cost reduction to increased agility and revenues, total digitisation of the manufacturing process, Industry 4.0, is expected to enable internal improvements and production innovation. Music to the ears of manufacturers but how far off are they from achieving this? It may or may not come as a su

 
Zetes
Zetes

15 Nov 2017
Survey reveals multiple dimensions of the supply chain, now and future
 

A survey was recently conducted by GT Nexus, an Infor company, and Capgemini about the current and future state of the digital supply chain. The report contains many insights which can help manufacturers understand the current best practices for creating effective digital networks with suppliers, co

 
GT Nexus, an Infor company
Infor

14 Nov 2017
Six pieces of out-of-this world supply chain advice from astronaut Chris Hadfield
 

Mesmerizing. Motivating. Magical. That’s how best to describe the experience of hearing famed Canadian astronaut and former commander of the International Space Station (ISS) Chris Hadfield address the crowd at Kinexions, our annual user and training conference. Hadfield’s inspiring p

 
Alexa Cheater
Kinaxis

09 Nov 2017
Diogo Forte Interview: 'Slimstock has always provided me all the support I require to advance within my role.'
 

  As Europe's leading inventory management specialist, Slimstock places a huge focus on developing up and coming talent: a key part of which is the company's Young Professionals Programme. This intensive development scheme is designed to help young professionals gain exposure

 
Diogo Forte, supply chain consultant
Slimstock

09 Nov 2017
Deloitte Poll Finds Use of Supply Chain Fraud Analytics on the Rise
 

During the past four years, use of analytics to mitigate third-party fraud, waste, and abuse risks in supply chains has jumped to 35 percent in 2017 from 25.2 percent in 2014, according to a Deloitte poll. “It’s encouraging to see more organizations using analytics to help prevent and

 
Deloitte
Deloitte


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Last update 2 Nov 2017
New order growth remains sharp in October
   Source: Investec Manufacturing PMI Ireland  -  IHS Markit
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