What are the key changes in the retail industry in the future?

       CommerceHub is an e-business cost and market software platform based on cloud computing that provides comprehensive demand and delivery solutions for large retailers, online markets and digital marketing channels, consumer brands, manufacturers, distributors and other market participants. By working with more than 10,000 retailers, brands, and distributors, CommerceHub has total turnover of more than $ 13 billion in 2016.

       CEO Frank Poore tells the retail industry is taking place in several mainstream trends, hoping to give the seller some inspiration.

Automation & "Smart" replenishment

       Early stages are voice subscriptions, such as Alexa and Amazon Dash, but it will be further developed, FMCG products (such as toilet paper, paper towels, underwear or razor) will automatically replenish, consumers no need to buy decision.

AR shopping experience

       The future, physical retail will not be to pick the product, more is to provide a unique experience. For example, when a consumer walks into the Nordstrom department store, AR technology can present the wedding scene she will attend next week, and then try it out to buy clothing. Unique shopping experience, can attract consumers to continue to spend back.

Next generation supply chain

       The future of the retail industry will be the majority of consumers can not see, but will be shown at a lower cost, this is only a truly agile and mobile supply chain can be achieved. FMCG automatically replenish, so that retailers can more effectively play the role of real-time inventory, but also easy to predict demand, reduce storage costs, so that the entire supply chain has become more concise and clear.

AI algorithm to help out, select the most attractive product categories

      With the popularity of shipments, electricity retailers will no longer be limited by product categories. The real challenge for retailers is to choose products that match the brand image. The most effective way is to analyze the product categories of competitive retailers and related brands through the AI algorithm and then compare these products with the demographic data of the retailer's customers to select the products that are most likely to attract customers.

Use the platform to get orders

       The difference between retailers and brands is disappearing. Many brands now work with other brands to sell each other's products, while retailers build billions of dollars of private label business. In the future, consumers will buy goods from one side, while others (including retailers and brands) will compete to fulfill these orders. The algorithm will screen out the lowest delivery costs and the fastest delivery of the product, which may lead to future retailer orders are likely to be closer to the competitor from the consumer to perform.

       Retailers need to understand the industry trends, timely adjustment of the direction, better meet consumer demand.


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