Insights

Thanks to modern technology and digital tools, the opportunities to interact with and buy from a brand today are ubiquitous. Customers want to shop anytime, anywhere. Omnichannel rules, and smart retailers are getting on board.

Baseball’s great accidental philosopher Yogi Berra once said, “If you don’t know where you are going, you might wind up someplace else.” In the retail business, knowing where you’re going means understanding sales, inventory, promotions, pricing, and assortment.

There has been a bit of controversy lately regarding Urban Outfitters' recent request that some of their salaried employees “volunteer” to fill normally hourly roles in fulfillment centers and retail outlets. The labor community and their activist friends have been crying foul over what they perceive is the manipulation of salaried junior managers by forcing them to work “hourly” jobs and getting no additional pay or benefits.

As omnichannel and e-commerce-only stores have exploded in popularity, delivery timescales and costs have become a key differentiator for retailers. In parallel, advancements in supply chain technology created new opportunities for retailers to make more informed decisions about shipping operations to protect and increase margins.

Most retailers recognize the importance of combining the best of digital technologies and physical stores to profitably create a seamless and consistent customer experience across channels. There’s a good reason for this. Their most valuable customers are engaging with them across all channels: store, mobile, social and online. Some retailers find that these omnichannel customers spend two times to five times more than customers who buy in only one channel.

Most U.S. shoppers dislike Black Friday, but a third of them say they're planning to spend more than $500 that weekend anyway, according to a new survey.

Spoken word is the oldest form of human communication.

It’s also one of the newest technology trends enabling omnichannel retail. Voice-based communications are having on a dramatic impact on how retailing is seamlessly executed. Here are three key areas where voice is supporting omnichannel operations across the retail enterprise.

Picking

Imagine you are the general counsel at a retailer involved in sensitive M&A discussions. You receive an email from one of the deal’s outside advisors. He says he needs some information about your company, the kind you’ve passed on before. You send it along — and later find that you were victimized in a sophisticated cyber-attack aimed at stealing sensitive information.