Abhishek Kalra

Why should retailers embrace a Distributed Order Management System (DOMS) for their retail business in 2024? As consumer behaviors shift, relying solely on physical storefronts is no longer enough. Enter Distributed Order Management Systems (DOMS), the ultimate tool for seamless operations across multiple channels. A DOMS centralizes order management, providing real-time inventory visibility and multiple fulfillment options like BOPIS and Ship from Store. This ensures seamless operations, reduces costs, and boosts customer satisfaction. Discover in HotWax Commerce's blog post, how a Distributed Order Management System can revolutionize your retail business in 2024. https://hubs.la/Q02zfX7D0 #ShoppingandtheRetailIndustry #eCommerce #Retail #Omnichannel #OrderManagementSystem

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Retailers must manage increasingly customized assortments to better meet local consumer demand while navigating supply chain constraints and store clustering. It is now common for retailers to handle hundreds of planogram configurations for a single product category. How do they manage this challenge? They leverage advanced software solutions like NielsenIQ Spaceman. For a concrete example, see how SPAR International uses NielsenIQ globally for their planogram need : https://lnkd.in/eWbzNBkr Jonas Parmhed Simon Trott

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Hello Retail Friends,   I cannot stress enough how important fresh products are to grocery retailers. When it comes to inventory planning, “point solutions” that lack end-to-end integration and only address store-level planning simply are not enough!   Retailers need proven, multi-echelon planning solutions that extend beyond the store - unifying, automating, and optimizing planning in stores, DCs, and omnichannel. This is the only way to get crucial visibility and insight across the end-to-end value chain.   https://lnkd.in/ej53RsFV #supplychain #grocery #freshproduce How to improve retail fresh food inventory management | RELEX Solutions Tackle fresh food inventory management challenges head-on with the right strategies and robust planning software. www.relexsolutions.comhas context menuCompose

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Dear Retail Friends,   If you’re a wholesaler, access to data from suppliers and retail customers is critical in enabling optimal service levels with minimal inventory. But getting that data, and acting upon it, can be challenging.   While there are many hurdles to this kind of collaboration, it can be done. And the benefits are numerous – not just for wholesalers, but their suppliers and retail customers as well.   https://lnkd.in/dbxub36v   #supplychain #supplychainoptimization #wholesaledistribution The future of wholesale supply chain collaboration | RELEX Solutions Unlock insights on boosting wholesale collaboration for supply chain efficiency and profit in this expert interview.

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What's the #1 foundational element of good omnichannel retailing? One word: Data At least that's what Holland & Barrett CTO Sathya Nandakumar told us live from the Walmart Commerce Technologies Studio at Shoptalk Europe today. Do you agree or disagree with Sathya? #retail #retailing #grocery #conveniencestores #cpg #branding #advertisingandmarketing #onlineshopping #shoppingandtheretailindustry #supplychainmanagement #shoptalk #fashionretail #luxuryretail #beauty

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Reel 2: Let's Talk Retail Podcast with Barada Sahu A fundamental driver of growth for brands and retailers lies in the profound understanding of consumers. This realization underscores the pivotal role of consumer insights in shaping strategies that foster engagement and loyalty. By meticulously analyzing consumer behaviours, preferences, and content interactions, brands can curate personalized experiences that resonate with their target audience. This consumer-centric approach serves as the cornerstone for establishing a compelling consumer journey on digital marketplaces. By catering to consumers' preferences and delivering tailored content, brands can cultivate ongoing engagement and loyalty. The ability to anticipate consumer needs and preferences enables brands to not only showcase relevant products but also provide enticing offers and promotions. At the heart of this strategy is a commitment to understanding and meeting the evolving demands of consumers. By leveraging consumer insights to inform every aspect of the brand experience, from content creation to product offerings, brands can establish meaningful connections with their audience and drive sustained growth in the competitive online landscape. Listen to the complete conversation with Barada Sahu on: Youtube: https://lnkd.in/gB_fBf9p Spotify: https://lnkd.in/gNbGmD9r mason #consumerinsights #growthstrategy #marketplaceexpertise #unifiedcommerce #retail #letstalkretail #innovation #hyperpersonal #personalization #customerjourney #genai #nextgen

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Macy's Santosh Subramanyam shares connected fitting room test results in their 2 store test. 💲 Average Order Value ⬆ in basket size by 5%, ⬆ Units/transaction by 16% 💲Net Promoter Score (NPS) ⬆ of 9.6 points to 80.0 💲Conversion ⬆ 68% when shoppers used fitting room service This data aligns very well with industry connected fitting room data: 👗 20% of customers visit fitting rooms 👗 40% of total store revenue comes from fitting rooms shoppers 👗 Shoppers visiting "connected" fitting rooms convert 55% higher, spend 25% more Matthew Cyr Sarah Breneman James Morin Marshall Kay John-Pierre Kamel Paula Rosenblum Pareiya Gupta Troy Siwek Doug Shonka Carl Boutet

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Retail processes are important because they: 1. *Enhance Customer Experience*: Streamlined processes ensure efficient service, accurate orders, and timely deliveries, leading to satisfied customers and loyalty. 2. *Increase Efficiency*: Well-defined processes reduce waste, minimize errors, and optimize resources, resulting in cost savings and productivity gains. 3. *Improve Inventory Management*: Effective processes ensure accurate inventory tracking, reducing stockouts, overstocking, and waste. 4. *Support Scalability*: Standardized processes enable businesses to expand smoothly, adapting to growth and changing demands. 5. *Mitigate Risk*: Clear processes reduce the risk of fraud, errors, and compliance issues, protecting the business and its reputation. 6. *Provide Valuable Insights*: Analyzing retail processes reveals opportunities for improvement, helping businesses refine strategies and inform data-driven decisions. 7. *Foster Collaboration*: Defined processes facilitate communication and coordination among teams, promoting a cohesive and efficient work environment. By prioritizing retail processes, businesses can create a solid foundation for success, driving growth, customer satisfaction, and long-term sustainability. https://cgrbrands.com

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Balancing in-store customer needs while fulfilling online orders from stores can be a tricky tightrope for omnichannel retailers. 🛍️��� When Shopify retailers fulfill online orders from stores, store associates juggle between the demands of in-store customers along with fulfilling online orders, it creates a conundrum – how do you ensure they are fairly compensated for their efforts? The solution to this dilemma? HotWax Commerce OMS provides comprehensive reports that offer insights into the number of orders each associate fulfills. With this data, Shopify retailers can ensure that the store associates are rightly compensated for their dedication and hard work. Here's how HotWax Commerce OMS helps you strike the right balance: Fair Compensation: By tracking the orders fulfilled by each associate, Shopify retailers can ensure that they are compensated fairly for their dual roles in serving in-store customers and fulfilling online orders. Transparency: These reports bring transparency to the compensation process, eliminating any guesswork or disputes about how associates are rewarded for their efforts. Optimized Staffing: Use data-driven insights to allocate staffing resources effectively, ensuring that the right number of associates available to handle both in-store and online customer demands. Employee Satisfaction: When associates feel fairly compensated for their work, it boosts morale and job satisfaction, leading to a more motivated and engaged workforce. Ready to strike the perfect balance between in-store and online order fulfillment while ensuring fair compensation for your store associates? Explore HotWax Commerce OMS and discover the benefits of data-driven insights! #ShoppingandtheRetailIndustry #eCommerce #Retail #Omnichannel #OrderManagementSystem

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"Perfect demand estimation, accompanied by a supply chain with the capacity to keep up, is the "holy grail" in retail, says Walmart CEO Doug McMillon, in a wide-ranging interview covering his path to CEO and his goals for competing against competitors such as Amazon." Tell us something we don't know, right? ;) In a client team meeting yesterday I asked everyone to share how they felt on a scale from 1-5 and asked what would take them to a 1 and what would take them to a 5. The sales team was worried about production capacity. Your supply chain is critical to business success. https://lnkd.in/e3wsEY-5

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Familiar with the store-within-a-store model in retail partnerships? Retailers are now venturing beyond traditional collaborations to explore unique partnerships across industries. Will these unconventional alliances boost business growth or deter customers? #retail #strategicpartnerships #growth #leadership

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In today's retail, the concept of omnichannel shopping reigns supreme, as consumers navigate seamlessly between online and brick-and-mortar experiences. While retail giants effortlessly handle thousands of daily orders, smaller enterprises face unique challenges in managing their operations. Enter the Omnichannel Order Management System (OMS), a comprehensive solution designed to address these pain points. By offering scalability and cost-efficiency, an OMS ensures a smooth retail experience for businesses of all sizes. With features such as real-time inventory tracking and premium customer service, an OMS emerges as a vital tool for retailers seeking to expand their presence today's competitive market. Ready to take your business to new heights? Explore our blog and uncover the impact of Omnichannel OMS for small and mid-sized retailers. https://hubs.la/Q02zR1N40 #ShoppingandtheRetailIndustry #eCommerce #Retail #Omnichannel #OrderManagementSystem

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Highlights from last week's NYC #RetailSafari -- focus was the intersection of #technology, #customers, and #operations, primarily in specialty apparel and fashion. Key themes: 1. Technology goes backstage – Brand new formats / concepts at H&M, Banana Republic, Zara, AMERICAN EAGLE OUTFITTERS INC., lululemon, and J.Crew and none come across as tech-forward w/ regard to customers. On the other hand, associates were all mobile enabled and doing most of their work leveraging phones / tablets. 2. Old tech; new tricks – Widespread use of #RFID and #QR codes (both generally on the price ticket), with a mix of internal and external use cases -- self-checkout, RFID-assisted full-service checkout, inventory counts, inventory finding, #BOPIS, etc. 3. Apps are an entry point – #Retailers without a clienteling / selling culture are using apps to drive customer capture. #Lulu uses app-based membership to enable exchanges on sale items; UNIQLO offers special discounts to app members. 4. Unified is still a unicorn – Despite a decade of focus on #omnichannel and unified commerce, many gaps exist. Very few #retail apps recognize when you’re in store, send a notification, and/or assist in the shopping experience. Many didn’t even have their newest stores listed as an option for #BOPIS (despite in-store signage).  5. Video is the new visual – ultra-large format (8-10ft x 12-16ft) video screens were a common feature of many new stores, and really helped to bring the brand lifestyle to life.  6. It’s hard to (re)teach people how to shop – Across all stores except Bonobos, Glossier, Inc., and Reformation, the shopping process is the same as it’s been for the past 50+ years. The ones that don't are focused on a niche customer with a unique product offering. IMO, the product is the driver and consumers "accept" the experience. 7. The "future" is not here yet, but you can start to see the shape of it – Demoing the Apple #VisionPro, we could think of multiple use cases (mostly internal / operational), and while it’s too early (and too expensive) to fully commit, it’s certainly worth considering a pilot as part of an #innovation lab. It's also worth noting there was no apparent use of #AI by customers or associates. Curious to hear comments, feedback from other markets. #ibmretail

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The Battle to Create Retail’s Future The retail industry has surpassed the tipping point on Kurzweil’s law of accelerating returns, which states that the rate of technological process and innovation tends to accelerate exponentially over time. We’re beginning to experience a world where AI systems are faster and smarter than their human creators. It’s already happening, as AI-powered marketing systems digest vast amounts of data on each individual shopper, develop a unique strategy to grow value and engagement, and generate true 1:1 promotions and pricing to achieve each strategy — all in an automated process that takes minutes for millions of shoppers at scale. No army of humans can do this. There’s a problem, though: the pace of change, especially technological change, is growing much faster outside the retail organization than inside it. And as that gap grows larger, traditional retailers are feeling increasing pain. There’s a battle underway to create the future of retail — not just change it one step at a time, but radically overhaul the way shopping is experienced. A handful of retailers — companies such as Amazon, Walmart and Kroger — have joined that battle and are considerably ahead of their competitors in creating retail’s future. How can others keep up? For a glimpse into the future, and an understanding of the challenges and opportunities that await retail in the exponential world, read Bionic Retail. Bionic Retail is available here: https://lnkd.in/gzg4jU9C Center for Advancing Retail & Technology (CART) #retail #retailtech #retailinnovation #retailstrategy #grocery #groceryretail #groceryinnovation #grocerytech #cpg #cpgretail #cpginnovation #fmcg #fmcgretail #fmcgretailinnovation #innovation #techinnovation #techfirst Retail TouchPoints https://lnkd.in/gyy__D6H

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Upgrading Your Personal Operating System On this Father’s Day, I want to thank my dad for instilling in me the value of constant learning from a young age. Constant learning has always been important to me. From the moment we are born, we possess an innate curiosity and a thirst for knowledge. Just like a computer operating system, our minds come pre-installed with a basic version (let’s call it V.0). As we grow and experience the world, we continuously upgrade and update ourselves. With each new skill we acquire, each book we read, and each lesson we learn, we install a new patch or update to our personal operating system. We evolve from V.0 to V.1, V.2, and so on, expanding our capabilities, refining our thought processes, and enhancing our overall performance. The beauty of this constant learning process is that it never ends. There is always room for improvement, new frontiers to explore, and opportunities to upgrade our knowledge and abilities. Just as software companies release regular updates to their products, we too must embrace the concept of lifelong learning, continuously seeking out new information, perspectives, and experiences. Personally, I find great joy and fulfillment in this pursuit of knowledge. Every time I delve into a new subject, attend a workshop, or engage in a thought-provoking discussion, I feel like I’m installing a brand-new feature or optimizing an existing process within my mind. It’s an exhilarating feeling, akin to the excitement of unwrapping a new piece of technology. Of course, the learning process can be challenging at times. We may encounter bugs or compatibility issues, where new information conflicts with our existing beliefs or thought patterns. But these obstacles are merely opportunities for growth, prompting us to troubleshoot, debug, and ultimately upgrade our understanding. So, embrace lifelong learning and thank those who inspired this mindset in you. Seek out new experiences, explore unfamiliar territories, and never stop upgrading your personal operating system. The more we learn, the more we grow, and the better equipped we become to navigate the complexities of our ever-changing world. Thank you, Dad 💖 #ConstantLearning #LifelongLearning #KnowledgeUpgrade #FathersDay

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The Hidden Aspects of Outsourcing to India Outsourcing to India can save costs and offer access to skilled talent, but there are important considerations to keep in mind. Cultural differences can lead to communication issues, and maintaining high-quality standards may be challenging. Hidden costs can emerge, and managing time zones can complicate collaboration. Ensuring data security and compliance with regulations is crucial. Discover how to navigate these challenges for successful outsourcing. Read the full article for more insights- https://lnkd.in/gEYRGHPb #Outsourcing #BusinessStrategy #GlobalBusiness #CostSavings #SkilledLabor #DataSecurity #QualityControl #CulturalDifferences #TechIndustry #BusinessGrowth

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Some great insights from this rare interview with Doug McMillon, Walmart's CEO. Here are my top 10: 💥 𝐎𝐧 𝐭𝐡𝐞 𝐢𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐜𝐞 𝐨𝐟 𝐫𝐞𝐭𝐚𝐢𝐥 𝐞𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞: "At the root of it all, though, it's a people business and it's a merchandising business. Today, it's increasingly a technology business. The supply chain is critical, of course, and real estate still plays a key role." 💥 𝐎𝐧 𝐭𝐡𝐞 𝐚𝐝𝐯𝐢𝐜𝐞 𝐡𝐞 𝐠𝐢𝐯𝐞𝐬 𝐭𝐨 𝐚𝐬𝐩𝐢𝐫𝐢𝐧𝐠 𝐫𝐞𝐭𝐚𝐢𝐥 𝐥𝐞𝐚𝐝𝐞𝐫𝐬: "Don't take your current job for granted, the next job doesn't come if you don't do the one you've got well. The second piece of advice was be a great teammate... And then the third one was volunteer for something extra, volunteer for something hard." 💥 𝐎𝐧 𝐭𝐡𝐞 𝐢𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐜𝐞 𝐨𝐟 𝐛𝐨𝐭𝐡 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐚𝐧𝐝 𝐞𝐱𝐭𝐞𝐫𝐧𝐚𝐥 𝐩𝐞𝐫𝐬𝐩𝐞𝐜𝐭𝐢𝐯𝐞𝐬: "We've always thought that a blend was best, and there are probably times where that blend is 80/20 instead of 70/30, depending on the moment that we're in. But Sam Walton would bring in great people from the outside to help build the retail business." 💥 𝐎𝐧 𝐭𝐡𝐞 𝐜𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬 𝐨𝐟 𝐞-𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐞 𝐟𝐨𝐫 𝐛𝐫𝐢𝐜𝐤-𝐚𝐧𝐝-𝐦𝐨𝐫𝐭𝐚𝐫 𝐬𝐭𝐨𝐫𝐞𝐬: "The e-commerce store is the interesting one. We've seen it all and done it all. We operate around the world in different formats, different brands. We've got large stores, small stores, all these different formats. So we know that space pretty well, but the e-commerce business was different." 💥 𝐎���� 𝐖𝐚𝐥𝐦𝐚𝐫𝐭'𝐬 𝐞𝐚𝐫𝐥𝐲 𝐬𝐭𝐫𝐮𝐠𝐠𝐥𝐞𝐬 𝐰𝐢𝐭𝐡 𝐞-𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐞: "There was a period of time when there was too much debate inside the company about the significance of e-commerce, there were leaders who believed it would never be any bigger than the catalog business, there were leaders that believed it would never be profitable." 💥 𝐎𝐧 𝐭𝐡𝐞 𝐢𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐜𝐞 𝐨𝐟 𝐨𝐦𝐧𝐢𝐜𝐡𝐚𝐧𝐧𝐞𝐥 𝐫𝐞𝐭𝐚𝐢𝐥: "It's always been clear to me that this was an 'and' — there are going to be stores, there will be store curbside pickup, there will be delivery of various forms, there'll be stores and e-commerce." Continue in the comments... 👇 Thank you Karl Haller for sharing this!

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