UK retailers want to upgrade e-com platforms: ISG report
Growth has been largely driven by the COVID-19 pandemic.
The 2021 ISG Provider Lens Retail Software and Services UK report shows that retailers want to use more technology tools and services to improve online and in-store shopping. Many retailers here are applying data analytics, digital signage, and shelf monitoring technologies to their in-store shopping experiences. The aim is to improve productivity, ease of access to customers and personalization within stores.
Additionally, retailers leverage technologies across multiple touchpoints in the supply chain. For example, a robot can scan shelves for out-of-stock items, trigger a replenishment request, and then have the backend system send a robot to fill the shelf with minimal human intervention. Retailers see these systems making the supply chain more agile.
“Prior to 2020, the UK already had one of the highest online shopping adoption rates among Western economies,” said Mike Witty, ISG’s director of consumer services practice, in a Press release. âUK buyers have benefited from a mature logistics infrastructure and the ability to move between channels. “
UK retailers are also embracing drive-thru pickup points after customers order products online, the report says. Some small format retail stores in residential areas also serve as micro-fulfillment centers.
Fashion retailers are using smart fit technologies to help shoppers choose the right size clothes, and grocery stores are starting to consider automated picking and packaging systems, coupled with delivery logistics algorithms based on artificial intelligence to expand online delivery.
The report sees UK retailers shifting to hybrid operating models, in which humans and machines work together to provide services. Retailers use this hybrid model in store operations, customer-centric technology, supply chain, and online and backend operations.
The report also reveals that UK retailers are embracing machine learning to gain a better view of customer behavior online. Retailers are also experimenting with algorithmic retail, artificial intelligence, and the Internet of Things for inventory tracking, empowering their workforce to better serve customers and make store spaces and processes more efficient and smarter.
In the area of ââplatform migration services, the report reveals that some large retailers are moving away from packaged technology offerings and investing in developing their own micro-service compatible platforms. These companies are focused on building technology tools from scratch and taking full control of their purchasing technology environment.
Fibre2Fashion Information Office (DS)
UK retailers are looking to upgrade their e-commerce platforms and improve the customer experience in response to a pandemic-induced surge in online shopping, a new report from Information Services Group says. Almost 30% of all retail revenue in the country in 2020 came from online shopping, with online sales surging 45% from the previous year.