Thursday Nov 27, 2014

Why Your Supply Chain Needs Science

Consumers today have more than one option in completing their shopping journey. With retailers increasing the number of touchpoints available to their customers, the importance of managing their supply chain simultaneously rises. Oracle Retail’s 2014 global consumer study, The New Retail Democracy, pointed to the fact that consumers are using new ways to shop, suggesting there is a growing understanding of the value of multiple touchpoints.

In the last year, 53% of respondents of the survey for the first time made a purchase on a PC or tablet and this figure is sure to continue to grow. Retailers now have no choice but to be ready for the influx of consumers that want to shop where they want and how they want. Hence, supply chain capabilities will play a key strategic role in meeting these increasingly diverse shopping habits. With greater visibility of their supply chain and improved analytics, retailers can ensure that a greater quantity of their stock is consistently available to targeted customers whilst decreasing spending on overstocks.

Managing inventory investment using science and optimisation increases customer satisfaction, organisational profit and results in a healthy cash flow. This type of precise management helps retailers better understand and manage their supply chain capacities and constraints, anticipating and eliminating potential disruptions.

For more information on the science of supply chain management click here.

Wednesday Oct 22, 2014

Amazon’s Same-Day Click and Collect & John Lewis Railway Stores – How Retailers Are Responding To A New Retail Democracy

Online retailer Amazon announced its partnership with newspaper and magazine wholesaler Smiths News last week, in order to launch a same-day click and collect delivery service for its customers. The new service will allow customers to collect orders placed in the morning after 4pm in the afternoon on the same day, at one of 500 locations.

Next-day delivery has been a standard industry offering for some time but by presenting customers with the opportunity to collect their purchases the very same day, Amazon has demonstrated a commitment to facilitating customer choice and convenience by providing the ‘always available’ option.

Offering a same-day collection or delivery service requires sophisticated operational organisation and investment- every aspect of the supply chain has to function in seamless unison to enable rapid order fulfilment.

The significance of Amazon’s new service is clear - if consumers can receive an item from an alternative supplier on the day of purchase then they will certainly shop elsewhere. In the modern retail industry, the connection between supply chain and execution must be fast, integrated and customer-focused to avoid losing out to the competition.

John Lewis is also listening to consumers’ needs for convenience in their shopping journey and has ventured into new territory with opening its first ever railway station store at St Pancras International in London. John Lewis and Amazon are demonstrating that the ability to provide a variety of convenient purchase channels and delivery options is now common place.

The challenge for retailers that want to be successful is to recognise that consumers want options when it comes to collection or delivery of their orders. In our 2014 research report “The New Retail Democracy”, we saw that 93% of UK respondents will not wait for an out-of stock item and 90% will source the product elsewhere.

To deliver democratic retail, a retailer’s priority is to provide commerce anywhere. To enable this, retailers must focus on integrating business processes and aligning their operations with the needs of the individual consumer, in order to stay relevant, competitive and deliver on the brand promise.

To learn more about our New Retail Democracy research please visit here.

Thursday Sep 25, 2014

The New Retail Democracy: What Russian Consumers Want

Last week the Russian results of Oracle’s New Retail Democracy global consumer research were published.

The Oracle research surveyed 500 consumers in nine countries around the world, commissioning leading market research firm RedShift Research to undertake the research. It explored consumers’ views on shopping preferences, retail interactions and define the challenges retailers face in not only understanding consumers, but empowering and representing them across all touch points.

Highlights from the Russian consumer research include:
  • 93% find information important - information about the availability of goods affects loyalty and costs
  • 73% say it is important that any interaction with a retailer is individual to them
  • 60 % do not want to buy a product if they do not see it in the store
  • 58 % believe that availability of goods is a higher priority than price
  • 52% believe that accurate information about availability and location of goods is important for a positive customer experience

To access the specific Russian consumer results and insights, please go to www.oracle.com/newretaildemocracy.

The findings from the global research, as well as from other countries surveyed as part of the New Retail Democracy are also available.


Tuesday Jun 24, 2014

The New Retail Democracy: Results For Germany

Today we release Oracle’s New Retail Democracy global research results for German consumers. Oracle surveyed 500 consumers in nine countries around the world, commissioning leading market research firm RedShift Research to undertake the research.

Highlights from the German consumer research include:

  • 58% of consumers say that availability of product is more important to them than price
  • 73% of consumers what access to origin of product information when food shopping
  • Only 5% of German consumers believe in the value of sharing personal data to receive personalised promotions or information
  • 63% of consumers prefer to purchase in-store
  • 59% of consumers say it is important that retailers adopt new technologies to improve the shopping experience, compared to 82% of consumers globally
  • 25% of consumers wanted click & collect globally, but only 7% of German consumers were interested in the option

Specific German consumer results and insights can now be accessed at www.oracle.com/newretaildemocracy.

Findings from the global research, as well as from other countries surveyed as part of the New Retail Democracy, are also available.

Infographic: Are Retailers Providing The Shopping Experiences German Consumers Want?

Friday Jun 20, 2014

The New Retail Democracy: French Results

Results from French consumers, surveyed as part of Oracle Retail’s latest global research, are available from today through The New Retail Democracy microsite.

The New Retail Democracy research explores the democratic relationship between consumer and retailer, and identifies the challenges for retailers in understanding, empowering and representing the new digital-empowered consumer. The research, carried out by market leading research firm RedShift Research, surveyed 4,500 consumers across Brazil, China, France, Germany, Japan, Russia, South Korea, the UK and the USA.

Highlights of the French findings were:

  • 92% think that understanding product availability is important
  • 50% are willing to shop direct with brands
  • 33% believe that click & collect offers them a better shopping experience
  • 70% believe it is important for retailers to adopt new technologies to improve their shopping experiences

Visit The New Retail Democracy microsite to download research materials, including whitepapers, infographics and fact sheets on the French results, in addition to those on the global research announced in March and those from Japanese consumers released in April. Findings from China, Germany, Russia and the UK will be announced shortly.

Tuesday May 13, 2014

The New Retail Democracy: China Results Revealed

China consumer results from Oracle’s New Retail Democracy research were revealed today by Allen Miao, Country Leader, China, Oracle Retail, during a press event held at the Oracle Beijing office, in which key trends were outlined along with the impact of the research findings for China’s retail businesses.

China is a growth economy in terms of retail, with the National Bureau of Statistics reporting an 11.8% growth in consumer spending last year. The New Retail Democracy found that access to knowledge is becoming increasingly important for Chinese consumers, providing a challenge to retailers in terms of providing product, availability and location information to their customers as they shop across multiple touch points.

Some of the highlights from the China consumer research were:

  • 96% of Chinese consumers think understanding availability of products is important
  • 82% say availability is more of a priority than price
  • 89% feel it is important that any interaction with a retailer is individual to them and their requirements
  • 83% of respondents increase spend when interacting with a retail assistant
  • 97% say it is important that retailers adopt new technologies to improve their shopping experiences

To access the full China research findings, visit The New Retail Democracy microsite and access whitepapers, infographics and fact sheets. Global results are already available, along with Japanese and French findings, with details on Germany, Russia and the UK scheduled for distribution shortly.

The research, carried out by market leading research firm RedShift Research, surveyed 4,500 consumers across Brazil, China, France, Germany, Japan, Russia, South Korea, the UK and the USA.

Thursday Apr 24, 2014

The New Retail Democracy: What Matters in Japan?

Mike Webster, Senior Vice President and General Manager of Oracle Retail, today at Oracle Industry Connect in Tokyo unveiled the results delivered by Japanese respondents in Oracle’s New Retail Democracy global consumer research. The research surveyed over 500 Japanese consumers. Highlights include:

  • 53% of respondents want to access to product information across multiple touch points
  • 86% of respondents want to understand availability and 88% will source items elsewhere if unavailable
  • 88% of respondents say retailers must adopt technologies to improve their shopping experiences
  • 48% of respondents want retailers to individualise their interactions

Visit the New Retail Democracy microsite to see why access anywhere matters to Japanese consumers, how availability always has become crucial in retaining loyalty and find out about the value technology brings to the Japanese consumer's shopping journey.

The research explores the emergence of a more democratic relationship between consumer and retailer, and explores the challenge for retailers to understand, empower and represent this new digitally-empowered consumer. Oracle commissioned leading market research agency Redshift Research in December 2013, interviewing 4,500 adults from Brazil, China, France, Germany, Japan, Russia, South Korea, the UK and the USA.

Access country specific results for Japan at www.oracle.com/newretaildemocracy. Other available resources include global whitepapers, infographics and fact sheets.


Wednesday Apr 02, 2014

The New Retail Democracy - The Infographic

To view the full size infographic and read more The New Retail Democracy material: www.oracle.com/newretaildemocracy

Friday Mar 28, 2014

Announcing Latest Research Report: The New Retail Democracy

In December 2013, Oracle commissioned leading UK market research agency Redshift Research to carry out a study of consumer behavior. The research interviewed 4,500 adults from Brazil, China, France, Germany, Japan, Russia, South Korea, the UK and the USA.

Findings revealed that as a new democratic relationship emerges between digitally-empowered consumers and retailers, the latter group is being forced to re-evaluate technology investments and strategic initiatives to capture loyalty, drive spend and remain competitive.

Announced this week at Oracle Industry Connect in Boston, our research report The New Retail Democracy explores this emerging retail dynamic. The report identifies what matters to global consumers in their shopping experience and how you, as a retailer, can meet and exceed their expectations.

Key findings include:
  • 52% of respondents want Access Anywhere - access to information in-store, online and on mobile devices, enabling them to make purchases anytime and anywhere
  • 93% want to understand availability of products and a further 58% rate it as more important than price, indicating that Availability Always is a priority
  • 46% of respondents admitted to being more loyal and 30% are likely to spend more with a retailer that provides information on availability, emphasising the strong link between availability, loyalty and spend
  • 92% will not wait for a product to come into stock, with 88% indicating they will source it elsewhere instead
  • 73% of respondents highlighted the importance of Individual Retail - every interaction with a retailer to be individual to the consumer, defined by interests, requirements and purchase history
  • 55% admit to spending more in a transaction that is supported by a retail assistant - highlighting the value of people in promoting a more positive interaction
  • 48% are willing to purchase direct from brands - emphasising the growing threat of brand convergence
  • 82% of consumers consider the adoption of new technologies important to their retail experiences and are using multiple touch points, including mobile phones, click and collect, social networking sites and online magazines to complete their shopping journeys

To find out more and download the whitepaper, visit: www.oracle.com/newretaildemocracy 


Tuesday Mar 25, 2014

Key Messages from the Launch of Oracle Industry Connect 2014

"Digital Literacy and Systems Thinking Essential"

Bob Weiler, Executive Vice President of Oracle Global Industries kicked off Oracle Industry Connect 2014 today – our brand new event bringing together over a thousand industry executives from across the world. The venue is jam-packed and buzzing with attendees talking business priorities and discussing how technology can solve the drive for growth.

In his keynote, Oracle President Mark Hurd enforced the stark truth that the world of commerce is now utterly dependent on technology, driven by a consumer with a veracious appetite to engage and spend. He discussed the complex challenge of investment to be driven by innovation, with these key trends at the forefront of our minds: Globalization, Data Explosion, Role of Mobility, Social Business, Sophisticated Business and Modernize to Survive.

"Oracle is here to talk to you in the context of your industry"

Mark encouraged attendees to explore and learn over the two day conference, to hear from business leaders and thought leaders that are truly committed to quality and innovation in service for their customers. Taking an in-depth look at how Oracle, our partners and customers are supporting consumers in their desire to participate actively in their interaction with a business.

In service to the sophisticated, global and mobile consumer, the Oracle Industry Connect conference explores how business can empower its employees and consumers alike, increasing spend and loyalty and supporting a profitable long-term relationship.


"An increasingly democratic relationship between consumer and retailer is emerging"

As emphasized in today’s keynote by Dr. James I. Cash, James E. Robison Professor of Business Administration, Emeritus at Harvard Business School, digital literacy and systems thinking are now essential business attributes, as is the application of enabling technology within your business strategy.

Business can no longer be the benevolent dictator - the commercial world now has become a true democracy and the level of participation required by the consumer is defining this new model. 

Oracle Retail’s latest research, launched today, reveals just this trend – an increasingly democratic relationship is emerging between digitally-empowered consumers and retailers, forcing retailers to re-evaluate technology investments and strategic initiatives to capture loyalty, drive spend and remain competitive.

The New Retail Democracy finds that consumers are demanding better access to information, product and process, along with more individualized interactions with retailers as they take ownership of their retail experiences. This requires retailers to prioritize the provision of a commerce anywhere business model to be relevant and competitive in today’s complex global marketplace.

To learn more, download our research whitepaper. http://www.oracle.com/newretaildemocracy

About

Everything Retail.


Principal contributors:

Sarah Taylor, Senior Industry Director, Oracle Retail.


Marie-Christin Hansen, Senior Industry Campaigns Manager, Oracle Retail.


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