Everything is changing in retail. Stores are becoming an omni channel experience; fulfilment and service centers and smart showrooms are enabling endless-aisle commerce. eCommerce and mobile customer experiences are changing retail, as retailers are now entering the third generation of ecommerce, in which IDC identifies eight core capabilities at the heart of the transformation of key operating models. Omni-channel fulfilment practices and new merchandise planning archetypes are emerging to drive profit, and retail technology is fundamentally changing, as digital transformations take shape in the industry. Websites, smartphones, the Internet of Things (IoT), and wearables change customers and their journeys, while 3D printing changes value chains and products, while IoT changes products, stores, and logistics, and artificial intelligence (AI), probably the most pervasive agent of change, will underpin new levels of customer individualization and workforce efficiencies.
Credit Union Times is the nation's leading independent source for breaking news and analysis for credit union leaders. For more than 20 years, Credit Union Times has set the standard for editorial excellence and ethical, straight-forward reporting.