Five challenges retailers face in giving customers what they want

It’s 2020 and omnichannel retail is the bare minimum when it comes to meeting rising consumer expectations. Now, error reduction is the key. Consumers are starting to expect retailers to offer the same frictionless, channel-free experience they get when browsing online. Furthermore, modern consumers are not the forgiving type. 32% of buyers (external link to ibm.com/mx-es) will stop doing business with a brand after just one bad experience.

Retailers are faced with the task of lowering prices and reducing shipping times, while identifying and addressing all the operational inefficiencies that arise during daily operations, such as out-of-stocks, lost inventory, and supplier crises. Let’s look at 5 of the biggest challenges retailers face as they look to achieve supply chain efficiency.