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Challenges & Opportunities – Unified Commerce for Independent Hardgoods Retailers

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Product Overview

Date of PublicationJanuary 4, 2023
GeographyWorldwide or by Region
FormatAdobe PDF

The rise of non-traditional retail customer journeys has placed a heavier focus on Unified Commerce as the way for successful retailers to grow and prosper. Just as no two retailers are identical, so too the implementation of Unified Commerce (and the respective customer journeys embraced) is going to be unique to a given retailer. Therefore, it is paramount for each retailer to identify the most important journeys for their relationship with the consumer and to prioritize and optimize those journeys. The research that IHL Group conducts addresses what separates the Leaders and Losers in the market when it comes to IT sophistication and the optimization of systems for each of these digital journeys.

It was immediately obvious that retailers are seeing a much broader spectrum of online orders than in the past. This has led many to Introduction 27.1% of Revenue from Digital Orders eCommerce with Delivery From Warehouse 15.8% 1.8% BOPIS Local Delivery From Store Or Other Methods 6.3% 3.2% Ship From Store the faulty assumption that, since digital orders are increasing, store orders must be declining. This is simply not true. Instead, retail stores are being transformed into mixed experience centers, and it is general merchandise (GMS) retailers, more specifically Specialty Hardgoods retailers, leading the way.

What’s Inside

  • Introduction
    • Introduces Omni-channel and Unified Commerce
    • Illustrates channel split of retail sales
    • Illustrates the continued importance of the store
  • Customer Journeys
    • Margin loss by customer journey
    • Importance of journey optimization in regaining margin
  • Technology Priorities
    • Priorities for 2023
    • How they support Unified Commerce
  • POS Hardware Adoption
    • Where retailers are and where they plan to be
    • Why it’s important
  • POS Software Adoption
    • Where retailers are and where they plan to be
    • Why it’s important
  • Emerging Technologies
    • Technologies beyond the day-to-day
  • What Are Leaders Doing Differently
    • What they are doing more and faster than others
    • What they aren’t doing (they’ve already done it and have moved on)
  • Next Steps
    • What retailers should be doing to compete in 2023 and beyond

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