As a business owner and player in the retail industry, you need to be up to date with the latest trends. It’s so easy to get involved and consumed in the day to day and fall behind. Ask yourself this; what will it cost your business to ignore the latest trends.
Q. From the retail trends of 2017 which is the most predominant?
a. The “Amazon Effect”. The largest online shopping websites in the world, Amazon in the West and Alibaba in the East are altering the retail landscape like never before. Most brick and mortar retailers are losing sleep over the dominance of e-commerce in the retail market. Consumers increasingly prefer to shop at home.
According to CNN, America will lose more than 147 million square feet of retail space this year.
Q. What do you need to do to capitalize on the latest trends?
a. Operational efficiency. What was once 1 order for 100 pieces is now 100 orders for a single piece each shipping independently.
Q. How do I improve my operational efficiency so I can take advantage of this new trend?
a. Inventory control. Order administration. Shipping management. A combination of organized logistics and a plan in order to fulfill mass individual shipments. Having a system that is comprised of these components from high level reporting down to your custom branded packing materials is your key to profiting from this latest trend.
EDI Options is a specialist in this realm. If you have any questions or just need advice feel free to reach out to us.