Retail Merchandiser - March/April 2017 - 104
SOLUTION PROVIDER DATA MANAGEMENT
Data Leads the Way
New research indicates that more than a third of retailers are on track with
omnichannel execution. BY PETER ZABALLOS
Retailers who succeed at moving beyond
omnichannel retail will become the leaders
Throughout the past decade, omnichannel retail has been top-of-mind
for industry executives and those who
manage supply chain ecosystems. For
the last half of that decade, SPS Commerce has worked with Retail Systems
Research (RSR) to benchmark and
translate omnichannel challenges and
opportunities into planned technology
investments for retailers, manufacturers,
and distributors and logistics services
In this year's report, Retail Insights
2017: Moving Beyond Omnichannel, a big
shift was evident.
The report revealed omnichannel retail
has moved from a standalone "initiative"
to being the center of business strategy
and operations, especially for retailers.
It's now driving the entire business.
According to the report, more than
35 percent of survey participants believe
their omnichannel strategies are on track,
up nearly 200 percent year-over-year. Yet,
some of those respondents are keeping
a close eye on consumers' demands to
see how they affect their plans - possibly derailing some of their progress.
And they're not the only ones watching
consumers' behavior, as 75 percent of
respondents are increasingly concerned
and cite it as the top factor driving their
business over the next five years.
Retailers see fewer opportunities
for growth in 2017, making them less
optimistic about the future than their
ecosystem peers. Contributing to retailers' less optimistic viewpoint is increased
competition: More and more manufacturers and distributors are selling direct
to consumers with 60 percent of manufacturers and 58 percent of distributors
running websites that do just that.
As a result, the race is on. All ecosystem participants are working hard to