What is the Future of Retail?
E-commerce continues to be the fastest growing area of retail this century, growing 300% from 2000 to 2018 according to the U.S. Commerce Department. While shoppers may never wholly abandon brick-and- mortar stores, this continual rise in online sales over the last 18 years shows a shift to e-commerce as the predominant shopping method for consumers.
So how is the rise in e-commerce affecting retail supply chains? At Trimble Visibility we sought out to understand the impact of e-commerce on retailers, the top final mile challenges facing industry executives today, and how companies are finding success in today's retail environment.
As we set off to understand these challenges, we began by conducting an extensive market research survey. This survey asked retail supply chain executives around the country about the biggest factors facing their retail supply chains today. Some of the top challenges executives were facing in retail included the:
- Growing global customer base correlating with the rise of e-commerce
- Rise in customer expectations and a decline in consumer patience
- Increased diversification of SKUs and complexity of loads
- Strain on the supply chain operations caused by reverse logistics
All of these trends have resulted in the topic of the decade: the final mile challenge. We present the findings of the executive survey and explore how today's top retailers are solving the final mile challenge in our new e-book: The Future of Retail?
How La-Z-Boy has Solved the Final Mile Challenge
Another way we explored the main industry challenges facing retailers today was by talking to one of our current retail customers. We sat down for an extensive interview with La-Z-Boy and asked them how visibility is supporting their operations in this changing retail landscape. They gave us extensive insight into their operations and how they've achieved excellence in customer service in an era where consumer expectations are higher than ever before. We've consolidated this interview and present their findings in the La-Z-Boy case study included in this new e-book.
We hope that this e-book and case study help you solve your own final mile challenges and gain a better understanding of the top trends facing retailers today. If you have any questions about how visibility can help your retail supply chain team contact us at (855) 218-5770.