This episode of Point of Sale is sponsored by ArcBest. ArcBest is more than logistics. Whatever you do, whatever you ship, ArcBest makes it easier for you to do business. ArcBest combines reliable capacity, innovative technology and trusted relationships to take the complexity out of your supply chain and keep your shipments moving. That’s what makes ArcBest more than logistics.
In recent years the narrative around online shopping has tended to focus on the importance of brick-and-mortar stores keeping up with e-commerce competition. The surge in online sales brought on by the COVID-19 pandemic has highlighted the businesses that were able to adapt and those that weren’t.
Andrew Cox says moving forward the challenge for businesses will be excelling at e-commerce or adapting to omnichannel. On this episode of Point of Sale, he and Forrester Research Retail Analyst Sucharita Kodali discuss what this will mean for retailers.
“The pandemic was a kick in the pants for anyone who was a late mover in the space to embrace digital,” said Kodali. A lot of discount retailers have been slow to embrace e-commerce, but Kodali said that is OK due to the unique nature of discounter merchandise.
According to Kodali, it would take an extreme amount of tech advancement for discount retailers to make it on the omnichannel marketplace; stores would need to apply RFID capabilities to make on-rack merchandise available for online purchase.
Of all the major retailers that made the shift to omnichannel in 2020, Kodali said Target was the one that impressed her the most. She cited the quick adaptation of zero-minimum curbside pickups and a willingness to lean into the changing marketplace as key factors in Target’s pandemic-era success.
However, omnichannel does come with operational challenges, which Kodali blamed for the slow implementation of universal omnichannel practices. One of those challenges is the ability to accurately account for items in the store and for the items’ location.
Kodali believes the majority of shoppers will have the option of omnichannel within the next few years, but shoppers will still hesitate to buy online due to the desire to “touch and feel” items before purchase. She thinks more retailers will jump into the e-commerce space, but problems will remain.
You can find more Point Of Sale episodes and recaps of all our live podcasts here.
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now