Deliveries turning up late; receiving promotional emails for out of stock items; orders being cancelled due to lack of stock availability- sound familiar? Unfortunately for many consumers around the world, this type of experience was the norm during the holidays.
We recently ran a contest on Twitter where we asked shoppers to report back their positive and negative experiences during the holiday season, utilizing the #GhostEconomy hashtag. More than 350 entrants took to Twitter to tell us exactly what hauntings they were seeing in their retail experiences. While not all were negative with some consumers boasting fast delivery and great deals during Black Friday and Cyber Monday, there is an overarching theme that can be established from looking at the #GhostEconomy hashtag.
The media took notice of these consumer frustrations, and you can read some of the coverage in Retail Times and Retail Systems.
It is clear the Ghost Economy is touching all corners of retail. Representing an $800 billion data and inventory disconnect, the Ghost Economy is haunting even some of the most established retailers and brands in the market:
These examples highlight just how real the Ghost Economy is. During retail’s busiest time of year, disconnects in inventory, operations, shipping and delivery cannot afford to happen.
With these disconnects unravelling the omni-channel channel experience for consumers globally, it’s clear many retailers and brands will have suffered extensively during the holidays.
With 2015 predicted to be a year filled with more retail technology investments than ever, retailers needs to understand the disconnects in their businesses and invest in products and solutions that will allow them to deliver the seamless retail experience every customer has come to want and now expect. Retailers need to act now to avoid further disappointment and make the holiday season of 2015 one to remember.
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