A “perfect storm,” “a crossroads,” “a tipping point.” These are all familiar phrases used lately to describe the state of retail. Retail is, in fact, rapidly changing and entering an exciting new phase. But there is much work to be done to effectively deliver on consumer demands for a better, faster, more engaging shopping experience.
Inventory management becomes ultimately more complex in retail’s next chapter. Stores need to be reimagined to prioritize convenience and experience, so associates need to know exactly where inventory is at all times. A retailer’s digital experience needs to dovetail seamlessly with store offerings, so accurate data and a wide product selection become crucial to securing the sale.