Omnichannel

These are challenging times for the nation’s chief information officers — and speed is of the essence.

An annual survey of global CIOs found that digital innovation is actively causing disruption to business models, requiring IT leaders to move quickly to deliver new infrastructures, platforms and applications to meet customers’ fast-changing needs. An overwhelming two-thirds of all CIOs believe digital disruption is now a very significant change to business, according to the “Harvey Nash CIO Survey 2015,” done in association with KPMG.

Videos just became more valuable to retailers. YouTube is releasing Shopping ads, a new advertising format that lets viewers click and buy products directly from videos.

When it comes to keeping supply chain and logistics operations as efficient as possible, retailers are getting smart. Using centralized cloud platforms and business intelligence solutions, merchants can achieve real-time inventory awareness and supply chain operational data that improves overall front- and back-end performance. Here are three examples:

Location: Doral, Florida

Size: 600,000 sq. ft.

Owner: The Related Group, Related Development LLC, Shoma Homes

Key Tenants: Fresh Market, CinéBistro-Cobb Theatre, Kings Bowling

Other uses/components: 1,000 new luxury residences

Status: Under construction, set for completion Q4 2016

As the Oct. 1 fraud liability shift for EMV-compliant chip cards looms, payment card issuers appear ready for the change.

According to a new study from the electronic payments industry group Payment Security Task Force (PST), the eight financial institutions that belong to the PST reported that 30% of their U.S. consumer credit and debit cards contain EMV chips as of June 30.

Hudson's Bay Company (HBC) is launching a wide-ranging cost-cutting initiative and corporate realignment strategy, with omnichannel technology at the center.

The realignment will include a reduction of about 265 corporate employees, expected to result in an annual savings of $75-million a year. The cuts are mostly in the company’s U.S. corporate offices in New York.

Studies indicate that online shoppers abandon websites that do not offer free returns shipping. This only makes sense, as the allure of e-commerce is convenience, a broad selection of merchandise, and competitive prices. Free shipping — from delivery through return — keeps the total purchase price similar to in-store shopping.

But there are two sides to free returns.

1. Free Returns Increase Sales

More retailers going from clicks to bricks

The emphasis on omnichannel commerce has largely laid to rest (at least for now) the debate of online versus offline. Indeed, A.T. Kearney put it best in the title of a recent study, “On Solid Ground: Brick and Mortar is the Foundation of Omnichannel Retailing.”