Belle Nguyen

My colleagues @Brian and @Catherine delve into the importance of practicality in Retail's AI-driven future. Emphasizing the significance of informed decisions based on tangible business advantages over unrealistic hype and speculation. Discover how pairing AI with practical strategies success.

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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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Read a recent blog from our partner, Logic, which recaps the insightful discussions from #RELEXLive2024. The article highlights how artificial intelligence is crucial in evolving retail strategies, particularly through smarter assortment planning and enhancing customer engagement. #GenerativeAI #Retail #SupplyChain 

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In today's retail landscape, the fusion of online and brick-and-mortar shopping experiences has become the norm. Customers can seamlessly choose between digital platforms and physical stores, demanding convenience and efficiency at every turn. However, for smaller retail players, navigating this omnichannel terrain poses unique challenges. Enter the Omnichannel Order Management System (OMS) – a solution for businesses of all sizes that is customized to streamline operations and ensure a seamless retail journey from click to doorstep. Whether you're a growing mid-sized enterprise, the benefits of an OMS are undeniable; it offers scalability, cost-efficiency, and most importantly, a competitive edge in today's retail. With an OMS in place, retailers can effortlessly track inventory in real-time and deliver premium customer experiences at every touchpoint. Ready to revolutionize your retail game? Dive into HotWax Commerce's blog and discover how Omnichannel OMS can elevate your business to new heights. https://hubs.la/Q02wH2WH0 #ShoppingandtheRetailIndustry #eCommerce #Retail #Omnichannel #OrderManagementSystem

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In today's retail landscape, the fusion of online and brick-and-mortar shopping experiences has become the norm. Customers can seamlessly choose between digital platforms and physical stores, demanding convenience and efficiency at every turn. However, for smaller retail players, navigating this omnichannel terrain poses unique challenges. Enter the Omnichannel Order Management System (OMS) – a solution for businesses of all sizes that is customized to streamline operations and ensure a seamless retail journey from click to doorstep. Whether you're a growing mid-sized enterprise, the benefits of an OMS are undeniable; it offers scalability, cost-efficiency, and most importantly, a competitive edge in today's retail. With an OMS in place, retailers can effortlessly track inventory in real-time and deliver premium customer experiences at every touchpoint. Ready to revolutionize your retail game? Dive into HotWax Commerce's blog and discover how Omnichannel OMS can elevate your business to new heights. https://hubs.la/Q02z4jyG0 #ShoppingadntheRetailIndustry #eCommerce #Retail #Omnichannel #OrderManagementSystem

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Introducing the "7 Habits of Highly Effective Omnichannel Retailers". Inspired by the timeless wisdom of Stephen R. Covey, we've curated a comprehensive guide to help retailers elevate their omnichannel retail game in 2024. These habits serve as a roadmap to navigate today's complex #retail landscape. From proactive inventory management to optimizing delivery speed, these strategies hold the key to transforming your business operations. Dive into HotWax Commerce's blog post to uncover these highly effective habits and unlock the potential to the best #omnichannel retailer in the industry. https://hubs.la/Q02t2sDK0 #ShoppingandtheRetailIndustry #eCommerce #InventoryManagement

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“It’s a confusing time. You can find data that would support a number of arguments.” The headline misses the point; it’s not about who’s #1. The real story is how Walmart, Amazon, and other #retailers and #brands are building capabilities to thrive in a challenging environment. One of these is the ability to understand what, how, and why #consumers are thinking and behaving. #WMT is focused “customized moderation,” where “shoppers are moderating spending in certain areas based on their needs, not just spending less overall.” This has brought more high-income shoppers into Walmart stores, drove an uptick in expectations, and a dip in C-Sat. And it’s behind many of their in-store changes to improve experience while managing labor costs: - adding new products (e.g. #bettergoods), increasing product “‘clustering,’ stocking some stores with specific products to cater to specific consumer groups,” and cross-merchandising select non-food products to drive “across the aisle” and grow basket size - expanding the use #mobile, buying 1M smartphones and equipping them with tools to help associates keep “better track of inventory and [move] products from backrooms to shelves, which increased in-stock levels” - focusing “on the checkout process, increasing a metric Walmart calls register utilization, to calculate if registers are adequately staffed,” which correlates with C-Sat - shifting comp for store managers, tying “a higher percentage of their bonus … to actions that tests showed led to better customer experience, such as staying on top of cleanliness and out-of-stock items,” which correlated to higher sales Success in this environment won’t come from one idea. It takes many, combined with a maniacal focus on #execution at scale. Or in Walmart’s language, “constantly striving to be the best version of ourselves, staying true to our values and offering quality, affordable goods and services.” If they do that, per a spokeswoman. “everything else will take care of itself.” https://lnkd.in/eX_aAVv2

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Another step on our customer centric & data driven journey. These pre-purchase insights will help vendors strategize best to their customer, allowing them to find the perfect product in an easier manner…

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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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Retail Today / Retail Renaissance: We are almost at the halfway point in 2024. What are the emerging trends? What retailers get it? #retailtrends Retailers that understand consumers are looking for “value”, not just price. BUT “low prices” still drive sales. It’s a “needs vs wants” environment, unless you can capture the aspirational shoppers attention. #lowprices RETAIL OVERVIEW: The retail industry is being driven by the “Big Three”, WALMART, AMAZON, COSTCO but watch TJX! #walmart #amazon #costco #tjx Home Improvement: HD and Lowes still off their Covid peak years. Ace Hardware with a flash of positive sales. #homedepot #lowes #acehardware Off-Price: This sector is on 🔥🔥🔥, getting stronger everyday. Ross, HomeGoods, Ollie’s, Burlington, Nordstrom Rack, etc… #ross #ollies #burlington #nordstromrack Mid-Tier Department Stores: Yes, Macy’s flashed some positive news but this sector is under tremendous pressure. Kohl’s, JCP and Macy’s are under attack from Fast-Fashion and they lost GenZ. #macys #jcpenny #kohls Speciality Retail: The good news, merchandise/product still matters! You can still make it a “wants” experience with the right product. Dick’s, Abercrombie, Hoka, Vuori, etc… There are hundreds of great brands driving sales through exciting products. #specialityretail Opportunity: Customers are focused on “value” but give them a compelling reason to buy, either through merchandise or experience, maybe both! #merchandise #product #retail #retailindustry #brandexperience #TopRetailExpert

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Statista reported that in 2023, 41% of Americans were using "wearables." That's right. 41% of us were sharing our biometric data. And yet Target, Rite Aid, Best Buy, Walmart and several others have come under fire for their use of biometric data. Why? Is it because they didn't tell us they were using it? It can't be because we don't want to share our personal information (including biometric data). After all, wearables, social media and TSA/Clear would suggest otherwise (to name a few). How should businesses use biometric data and is it worth the trouble? Read RetailWire's article and see what the BrainTrust had to say. https://lnkd.in/gXk4Yt9C

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Whether we like it or not, companies like SHEIN and Temu are redefining online retail with their bold and rapid adaptability. Their swift shifts and strategic innovations might seem perplexing at first, but they demonstrate a profound agility that's hard to ignore. These organizations aren't just fast—they're fearless, consistently pushing the envelope and setting new standards in technology and market responsiveness. Shouldn’t we move from awe and disbelief to openness and emulation? What lessons can we learn from their audacity? How can we harness such agility in our own businesses to stay ahead in this dynamic market? https://lnkd.in/e8k8GW-C #RetailInnovation #Ecommerce #SupplyChain #BusinessStrategy #FutureOfRetail

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Retail is powered by data. The future of retail is digital. Retail success is dependent on positive customer engagement (digital and physical). If you believe the above statements, why - if you are a retailer - would you deliberately hand over to a third-party your customer engagement, a growing revenue stream, and a source of ever more important first-party data? Yet that’s just what retailers and wholesalers have done by signing on to Instacart’s retail media network. If I’m a retailer or wholesaler, I get it. Instacart is the ‘Easy Button’. A one-stop shop for outsourcing online shopping, digital shopper engagement, and retail media. Choosing a third-party like Instacart removes major headaches and resource commitments for retailers. So I don’t blame retailers and wholesalers for partnering with third-parties like Instacart. But at what cost? As Instacart and other third-party marketplaces grow their influence, traditional retailers will increasingly be delegated to simply putting products on the shelf. CPG marketing funds are rapidly evolving towards digital solutions. How long do you think it will be before traditional trade promotion dollars will be dependent on digital capabilities like sophisticated targeting, digital engagement in the store, and digital offer delivery managed across a growing number of channels? All things Instacart is able to provide. So I get it. Grocery retail is incredibly tactical, the need to obsessively control operating expenses to eke out a profit. Thinking strategically and longer-term is a luxury that many retailers and wholesalers do not have. And I have to give Instacart credit. They saw a market opportunity and went after it, pivoting along the way to provide a growing array of tech solutions to retailers in addition to creating and growing their retail media network. Yet as we accelerate up and out technology’s exponential growth curve, that historical tactical focus, putting out the brush fires to survive another day, becomes increasingly dangerous. And understanding that we now live in a world that has never before existed, a world of exponential change, is now imperative for survival. That’s why I wrote Bionic Retail, my latest book. To help the retail industry understand that it is now in a new world and many of the old rules no longer apply. Succeeding in the exponential world requires new thinking and deliberately letting go of many past practices, processes, and beliefs that increasingly constrain retail and innovation. Maybe the ‘Easy Button’ isn’t going to be so easy after all. The Shelby Report ROFDA Instacart #grocery #groceryretail #grocerystrategy #grocerytech #groceryinnovation #retail #retailtech #retailstrategy #retailinnovation #CPG #CPGinnovation #retailmedianetworks #RMN #supermarket Center for Advancing Retail & Technology (CART) https://lnkd.in/gH93nm3A

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Just finished reading "Driving Retail Transformation" written by Oliver Banks and I must say, 🥁🥁🥁🥁🥁 it's a must-read for anyone in the #retail industry! This book is not your generic retail read, but rather a helpful playbook providing pragmatic methodology to deliver change within a retail organization. Oliver Banks' long experience shines through with many practical suggestions that are, in most cases, real golden nuggets. Whether you're a CEO or just starting out in the industry, this book is a valuable resource for anyone looking to make a difference in retail. So, if you're wondering whether we really need another book on retail, the answer is absolutely yes! Well done, Oliver Banks! 👏👏👏 #passion4retail

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Are you struggling with slow-moving inventory in your retail operations? Managing slow-moving inventory can be a challenge, but it doesn't have to be a stumbling block. By implementing these strategies, retailers can optimize their inventory management and set their businesses on a path to success. 🔸 Offer Omnichannel Fulfillment Options: Providing seamless omnichannel experiences, like Buy Online Pick Up In Store (BOPIS) and Same-Day Delivery, can encourage sales and increase inventory turnover. With an Omnichannel Order Management System, you can easily track inventory, streamline order routing, and simplify inventory relocation between channels. 🔸 Utilize Pre-Orders: Pre-Orders aren't just for generating buzz – they can also help reduce slow-moving inventory. By offering Pre-Orders, retailers can gauge interest earlier in the sales pipeline, generate consistent cash flow, and improve inventory allocation based on customer behavior. 🔸 Leverage Analytics: Analyzing sales by region, assessing monthly sales by order, tracking daily demand and fulfillment, and monitoring year-on-year demand trends can provide valuable insights for improving inventory management and reducing slow-moving items. Don't let slow-moving inventory hinder your success. With HotWax Commerce's Omnichannel OMS, you can optimize your inventory. Learn more in our blog post: https://hubs.la/Q02xhzD10 #ShoppingandtheRetailIndustry #eCommerce #Retail #Omnichannel #OrderManagementSystem #InventoryManagement

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Are online shoppers getting the personalization they want? Unsurprisingly, the answer is "no". For instance, in a retail store, the clerk can quickly determine if you're more of a data person or style person --- or whatever. And then the clerk can tailor their help to you ---- but online, we're generally overwhelmed by information-- and too much data is as bad as no data. Most online sites have meager if any true personalization. Customers want it, merchants want it -- and AI will likely help close this gap in online service over the coming years. Thanks Dan for the interesting article! #customerexperience #ecommerce #retail #retailtech #shopping

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Despite digital's penetration in retail, physical stores remain a vital part -- if not the lifeblood -- of most retailers' businesses: from providing memorable and differentiating customer experiences to fulfilling online orders to generating in-store sales. And now Walmart, the world's largest company (and retailer), are recognizing just how much successful stores contribute to their overall success by rewarding (our fancy word for 'compensating') their store managers accordingly. From a talent perspective, this move 'raises the bar' and should enable Walmart to attract, develop, and retain the retail industry's very best performing store managers while simultaneously forcing its many competitors to respond. #retail #retailer #talentacquisition #storemanagers #compensation #totalrewards

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TRENDING VIDEO: The $9.2 Trillion AI Retail Economic Impact Through 2029 https://lnkd.in/e9wVuaAi Are you ready for this? AI’s economic impact on retail in the next seven years will be a whopping $9.2 trillion dollars #innovation

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