{"id":1662,"date":"2017-12-11T13:13:13","date_gmt":"2017-12-11T19:13:13","guid":{"rendered":"http:\/\/dev-mhisolutionsmag.officialdirectory.com\/?p=1662"},"modified":"2018-03-23T07:32:36","modified_gmt":"2018-03-23T12:32:36","slug":"industry-focus-retail-2","status":"publish","type":"post","link":"https:\/\/www.mhisolutionsmag.com\/index.php\/2017\/12\/11\/industry-focus-retail-2\/","title":{"rendered":"Industry Focus: Retail"},"content":{"rendered":"<p><strong>Today\u2019s retail industry has, and is, undergoing a fundamental shift. Five retail trends are particularly impacting the supply chains as well.<\/strong><\/p>\n<p><em>By Sandy Smith<\/em><em>\u2014<\/em><\/p>\n<p>There is no doubt that today\u2019s retail industry has, and is, undergoing a fundamental shift. Trying to get one\u2019s arms around these changes may feel a little like traveling through a mall, laden down with packages. Then again, that idea is so 1990s.<\/p>\n<p>These changes, though, create new opportunities for forward-thinking retailers and others throughout the supply chain.<\/p>\n<p>5 RETAIL TRENDS IMPACTING SUPPLY CHAINS:<\/p>\n<p>1 | Growth of e-commerce and closure of bricks-and-mortar stores.<\/p>\n<p>Anyone who reads the business news certainly has seen the headlines. Sears and Kmart closed more than 350 stores. JCPenney closed more than 150. Macy\u2019s, Gap, Teavana, Gymboree, RadioShack and HHGregg all saw similar headlines.<\/p>\n<p>At the same time, e-commerce is growing. The National Retail Federation estimated that online retail would increase by 8-12 percent in 2017\u2014nearly triple the growth rate of the overall retail industry. It is now a $430 billion economy on its own. Forrester\u2019s Online Retail Forecast predicts that e-commerce will account for 17 percent of retail sales by 2022\u2014up from 13 percent in 2017.<\/p>\n<p>So, what does all this mean? Retailers who focus on omnichannel\u2014delivering products to customers seamlessly, both online and in bricks-and-mortar stores\u2014are trying to navigate a new reality, according to Patrick Sedlak, principal with MHI member Sedlak Management Consultants.<\/p>\n<p>Online remains a heavily seasonal market\u2014and retailers are still trying to figure out how to deliver on next-day purchases. \u201cEspecially during peak season, we\u2019re seeing some of our clients and others in the industry leveraging third party logistics or 3PL providers\u2019 capabilities to take those peak volumes and level them,\u201d Sedlak said. \u201cThat\u2019s prompting some 3PLs to offer short-term contracts by month or weeks to go after that peak surge.\u201d<\/p>\n<p>One peak enablement concept that is gaining ground is the pop-up fulfillment center\u2014a temporary distribution hub set up in a vacant property near a customer base. \u201cYou can set it up in an empty Kmart or similar space in a metropolitan area. The idea is to stock it, run it, empty it, and close it down in a short span of time. Closer proximity to the customer can shorten order cycle times and reduce delivery costs.\u201d<\/p>\n<p><a href=\"http:\/\/www.nxtbook.com\/naylor\/MHIQ\/MHIQ0118\/index.php#\/56\">Read more&#8230;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today\u2019s retail industry has, and is, undergoing a fundamental shift. Five retail trends are particularly impacting the supply chains as well. By Sandy Smith\u2014 There is no doubt that today\u2019s retail industry has, and is, undergoing a fundamental shift. Trying to get one\u2019s arms around these changes may feel a little like traveling through a &#8230;<\/p>\n","protected":false},"author":40,"featured_media":1626,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15,10],"tags":[],"class_list":["post-1662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-trends","category-industry-trends"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Industry Focus: Retail - MHI Solutions<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mhisolutionsmag.com\/index.php\/2017\/12\/11\/industry-focus-retail-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Industry Focus: Retail - MHI Solutions\" \/>\n<meta property=\"og:description\" content=\"Today\u2019s retail industry has, and is, undergoing a fundamental shift. 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