《Radial&Retail Dive：2024年零售商關鍵議題研究：AI應用、應對物流挑戰及保障未來運營的其他核心領域（英文版）（16頁）.pdf》由會員分享，可在線閱讀，更多相關《Radial&Retail Dive：2024年零售商關鍵議題研究：AI應用、應對物流挑戰及保障未來運營的其他核心領域（英文版）（16頁）.pdf（16頁珍藏版）》請在三個皮匠報告上搜索。

1、What Matters to Retailers in 2024?Custom content for Radial by studioIDNew Research on Using AI,Addressing Logistical Challenges,and Other Key Focus Areas to Future-Proof Your OperationsWith the 2024 peak season on the horizon,retailers are intensifying their efforts to leverage technology and innov

2、ative fulfillment solutions to boost revenue and enhance customer experience.Reflecting on the successes and lessons from the past year provides valuable insights for future planning.The 2023 holiday shopping season marked a turning point,signaling a reduction in the disruptions that have plagued re

3、cent years.To understand the strategies and challenges ahead,Retail Dives studioID conducted a study on behalf of Radial,an ecommerce fulfillment and omnichannel solutions provider.Our research gathered insights from 150 U.S.retailers with annual revenues between$10 million and$1 billion,surveyed fr

4、om January 4 to January 9,2024.Retail executives shared the positive outcomes from the 2023 peak holiday season,with over 75%reporting significant improvements in profitability,inventory management,customer service,and more.Staying ahead of trends and technological advancements in the retail industr

5、y can help businesses maintain a competitive edge.2Looking ahead,retailers are focusing on artificial intelligence(AI),inventory strategies,sustainability initiatives,and overcoming logistical challenges to future-proof their operations.Read on to explore the findings and see how your 2024 fulfillme

6、nt goals compare.far more successful2023 peak wasOverallSales:Profitability:89%35%84%41%more successfulfar more successfulmore successfulmore successfulfar more successfulInventory management related to merchandise availabilityAccess to supply chain dataCost related to shippingCost related to return

7、sAbility to provide responsive customer service83%43%81%37%75%28%75%34%81%37%Additional Components:3Retailers are exploring new opportunities inherent in artificial intelligence(AI)with over half of respondents using AI or looking into it for their operations.If 2023 was the year of AI hype,2024 wil

8、l be the year of AI evolution.01.Blazing Trails in Retail InnovationPoint 1:In 2024,which of the following AI functions is your company planning to add or enhance?(Please select the response that best aligns with your current status/plans)Inventory management Customer service Predictive analytics fo

9、r returns Risk management and fraud detection Customized shipping solutions0%20%40%60%1.3%57.3%36.0%6.0%0.7%59.3%32.7%6.7%51.3%39.3%6.7%2.7%Currently have and plan to enhanceCurrently have and do not plan to enhanceDo not have and plan to addDo not have and do not plan to add52.7%34.7%10.7%2.0%44.7%

10、43.3%9.3%2.7%4In fact,more than four out of five retail executives report that their companies are using AI and plan to enhance their use in five functional areas:Inventory management,such as forecasting demand,managing inventory levels and optimizing the allocation of stock across different locatio

11、ns Customer service,including chatbots and virtual assistants providing real-time support to customers in tracking shipments and answering queries Risk management and fraud detection,through activities like detecting anomalies in shipping patterns and identifying potential fraudulent activities Pred

12、ictive analytics for returns that include analyzing historical data to predict potential returns and enabling proactive measures to streamline the returns process Customized shipping solutions,including tailoring options based on individual customer preferencesAs one of the Retail Dive survey respon

13、dents said,“With the advent of new technologies such as artificial intelligence,blockchain and the Internet of Things,logistics companies need to invest in integrating these technologies into their operations to improve efficiency and remain competitive.”While retailers are eager to reap the benefit

14、s of AI,there is work to be done,finds a recent survey from market research firm First Insight,which concluded:“The strategic disconnect discovered between retail CEOs and their management teams points to a severe knowledge gap within enterprise-level retailers that will impede future growth and pro

15、fitability.CEOs and their teams will need to transform their organizations into more agile,data-driven businesses by leveraging AIs vast potential not simply to cut costs,but also to win at innovation.”“With the advent of new technologies such as artificial intelligence,blockchain and the Internet o

16、f Things,logistics companies need to invest in integrating these technologies into their operations to improve efficiency and remain competitive.Retail Dive survey respondent5Given current fluctuating consumer consumption,predicting inventory demand continues to be difficult without real-time visibi

17、lity and accompanying data.And yet,those insights are critical to success:The more accurately brands can predict inventory and order accordingly,the better they will be able to control costs and navigate economic headwinds.This realization came through in the survey results,with retailers saying the

18、y plan to bolster their forecasting capabilities to more thoroughly anticipate product demand and stay ahead of market trends.Most retailers currently have and plan to enhance AI capabilities for inventory,customer service,risk management/fraud protection and predictive analytics for returns.Investi

19、ng in advance data analytics tools(25%)and implementing ML algorithms for predictive modeling(21%)are two other top ways retail executives say their companies plan to enhance their forecasting capabilities.“These real-time insights,combined with historical data,can help inform brands on purchasing b

20、ehaviors that allow them to match supply with demand,thereby eliminating stock-outs,surplusesand surprises,”says Matt Barr,Vice President of Marketing for Radial.Retailers will increasingly deploy technology to enhance forecasting.In preparing for 2024,how does your organization plan to enhance its

21、forecasting capabilities for anticipating product demand and staying ahead of market trends?21%-Implementing ML algorithms for predictive modeling42%-Enhancing collaboration with suppliers for real-time market insights11%-Exploring partnerships with technology providers specializing in forecasting s

22、olutions,etc.1%-We do not plan to enhance our forecasting capabilities25%-Investing in advance data analytics toolPoint 2:6Other challenges include:Retailers seek new ways to mitigate challenges in their fulfillment processes.Point 3:“Partnering with a 3PL is a strategic advantage,as we can offload

23、the challenge of order processing speed and accuracy,assisting brands with the entire cycle from click-to-delivery,”Barr explains.“When brands entrust operations to a dependable 3PL partner,they can focus on other challenges while the 3PL does what it does bestdeploying fulfilment strategies that al

24、ign with the brands goals.”More than two out of five retail executives report that the top challenges their companies face in their fulfillment processes are:Order processing speedOrder accuracy43%41%offering fast shipping(within two days)sales forecastingreal-time reporting and analytics on fulfill

25、mentreal-time visibility/reporting on order deliverycarrier reliability to respect delivery deadlinesscaling for demandreturn managementfraud detection delaying order processingmulti-channel inventory management37%36%35%33%31%30%26%19%9%7Sustainable choices resonate with consumers,According to The S

26、tate of Consumer Spending:Gen Z Shoppers Demand Sustainable Retail,62%of Gen Z shoppers prefer to buy from sustainable brands,and nearly three-quarters are willing to pay more for sustainable products.One important win can be found in packaging,with consumers saying they prioritize sustainable packa

27、ging features such as recyclability(52%),biodegradability(49%)and refillable/reusable options(41%)in a survey from Packaging Machinery Manufactures Institute(PMMI).02.Seizing Opportunities to Enhance FulfilmentWhat sustainability-related changes,if any,has your company made and which will it priorit

28、ize for 2024?60%40%20%0%More sustainable transportation methods Ecofriendly packaging materials Minimal packaging for reduced waste Offering choice to group shipments when possible Offering opportunity to pick uppackages at the store or lockerUsing special packaging/kitting or other efforts to perso

29、nalize and create Retailers will continue to embrace innovations in sustainability.Point 1:Made change in 2023 and will continue in 2024Made change in 2023 and will not continue in 2024Did not make change in 2023 but plan to institute in 2024Did not make change in 2023 and no plan to institute in 20

30、248Retail executives are meeting the challenge,reporting that their companies will continue many sustainability-related changes they embraced in 2023:Survey respondents are adamant that the logistics process must be optimized.As one said,“Logistics companies need to address their carbon footprint an

31、d find ways to make their operation more sustainable.”Its an area where Radial excels in helping its clients,notes Barr.“We provide ecofriendly solutions in transportationsuch as consolidating shipments and choosing more environmentally conscious shipping partnersas well as in our fulfillment center

32、s,where we prioritizes right-sized packaging and streamlining order processing and reverse logistics.One respondent noted on the survey that its important to“partner with sustainable suppliers to improve the experience for those who are conscious of their environmental impact.”53%will continue using

33、 ecofriendly packaging materials(recycled/recyclable)51%will continue offering opportunities to pick up packages at the store or locker50%will continue using minimal packaging for reduced waste40%will continue offering choices to group shipments when possible9Its no secret that returns are an ongoin

34、g pain point,as the National Retail Federation(NRF)reports that total returns for 2023 reached a staggering$743 billion in merchandise.A previous Retail Dive survey found that consumers expect choices:Thats why brands are grappling with maintaining a positive customer experience,yet not sacrificing

35、profit.To help mitigate this burden,retailers experimented with shifting return strategies and found some clear winners.These are the changes they instituted in 2023 that they intend to continue with in 2024:Evolving return strategies lead to crucial benefits.Point 2:76%of online shoppers want free

36、returns51%of online shoppers want free returns at a store50%of online shoppers want longer return windows51%charge fees for restocking49%offer a shorter window to accept returns41%enact stricter standards and restrictions,such as requiring that returns be unused and in their original packaging10Free

37、 shipping remains important,with the survey finding that on average,47%of orders are shipped with faster solutions(26%)or fastest solutions(21%).Only 24%of orders are shipped with slower services,such as ground delivery.And yet,consumers are willing to give up 1-to 2-day delivery for a variety of ot

38、her inducements.Consumers continue to prioritize convenience and choice in shipping methods.Point 3:Do you find that consumers will give up 1-2 day delivery for the following options?80%60%40%20%Free shipping Less expensive shipping with longer delivery windowConsolidated shipments In-store pick upY

39、esNo64%less expensive shipping55%consolidated shipments48%in-store pick up65%free shipping11In the race to provide the ultimate customer experience,fulfillment can make or break the impression your brand makes.The moment of truth is the moment an item arrives at a customers home and gives them the o

40、pportunity to react to your companys merchandise in a tangible way.Navigating crucial logistical details remains a barrier.Point 4:Providing faster delivery is the next challenge we need to address.Reliability of carriers can present serious difficulties especially for those with supply chains that

41、are time sensitive.Problems like missing pickups,delayed deliveries or misplaced shipments can result in high expenses and harm to ones reputation.Respondents cited a number of goals they had for the delivery process as they look ahead to peak season 2024.Some verbatim responses include:“Reducing tr

42、ansportation cost while improving the delivery service is the most important challenge that we need more consistency with throughout the year.One of our companys most pressing logistical challenges is balancing stock availability with storage expenses while minimizing stock outs or surplus inventory

43、.Adopting technology for real-time tracking and visibility and developing agile strategies to quickly adapt to disruptions such as natural disasters,geopolitical events,or unexpected demand fluctuations.Establishing effective procedures for product management and returns,including product recalls,re

44、pairs and returns.Drivers,warehouse workers and other critical staff are in short supply in our organization.This reduces efficiency,raises prices,and causes supply chain disruption.Ensure the integrity of the goods in transportation to reduce the damage situation.12These are all areas where Radial

45、can support your retail brand,Barr points out.“From a robust transportation management capability that allows us to diversify the transportation landscape,taking advantage of different rates,options and speeds,to transparency around delivery through frequent communication,we can handle all aspects o

46、f fulfillment.Brands can be confident their customers are receiving best-in-class service in the most cost-effective manner possible,”he says.13Working with the right 3PL partner can significantly impact your brands image,and now is the time to consider how you can elevate peak season 2024.Are you r

47、eady to learn more about how you can successfully deliver best-in-class customer while boosting profitability?Contact Radial today to explore solutions to all your fulfillment challenges.Are You Ready To Optimize Your Logistics For Peak Season 2024?14Radial is the industrys largest 3PL fulfillment p

48、rovider that offers integrated payment,fraud detection,and omnichannel solutions to mid-market and enterprise brands.Leveraging over 30 years of industry expertise,Radial rejects the one-size-fits-all approach,instead tailoring its services and solutions to align strategically with each brands uniqu

49、e needs.Our team supports brands in tackling common eCommerce challenges,from maintaining delivery consistency to ensuring secure transactions.With a commitment to fulfilling promises from click to delivery,Radial empowers brands to navigate the dynamic digital landscape with the confidence and capa

50、bility to deliver a seamless,secure,and superior eCommerce experience.LEARN MORELearn more studioID is Industry Dives global content studio offering brands an ROI rich tool kit:Deep industry expertise,first-party audience insights,an editorial approach to brand storytelling,and targeted distribution capabilities.Our trusted in-house content marketers help brands power insights-fueled content programs that nurture prospects and customers from discovery through to purchase,connecting brand to demand.