The drivers/demands/behaviours changing this area of retail
The pandemic has highlighted the place of stores in omnichannel fulfilment. They offer locations for click and collect, curbside collection and local fulfilment. They can also be locations for lockers – for deliveries and returns – as well as enablers for fast delivery or automated picking through microfulfilment.
The current state
Stores can become mini warehouses, with stock located close to consumers. RFID technology gives retailers an accurate view of store stock optimising stock replenishment and enabling staff and customers to see exactly what’s in store.
Implications
- Additional sales when customers collect or return orders to store
- Single stock view enabling customer queries to be answered quickly and accurately
- Increased efficiencies with stock replenishment
- Enable fast, local delivery, while reducing delivery costs
- Potential to automate collection and returns leaving staff free for customer engagement
- Enabling customers to exchange products so reducing time for returns
Discussion points in the podcast
What are the complications with picking stock from store?
Is RFID cost effective?
Is fast delivery here to stay and what products do customers want delivered within 10 minutes or same-day?
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