BRP report: Customer-led demand is driving retailers to transform their business to be more customer-centric

According to the 2017 Merchandise Planning Survey, Retailers are Focused on Transforming their Entire Merchandising Process from End-to-end

Boston, MA, 2017-Dec-06 — /EPR Retail News/ — According to a new report from BRP, retailers must accommodate customers who “pre-shop” for merchandise online before they ever enter a store, want one-day or even same-day delivery, and expect “more” from their shopping experience – more personalization, a larger assortment, a more fulfilling experience and non-stop entertainment. Customer-led demand is driving retailers to transform their business to be more customer-centric.

“Customers use technology daily to enable and control their shopping journey,” said Gene Bornac, senior vice president at BRP. “Now it is up to retailers to play catch up with their organization, processes and technology to deliver the right products for the right price in the right place.”

For retailers, it is imperative to take a customer-centric viewpoint. To innovate the customer experience, they must transform their disparate systems, processes and organization into one cohesive environment with the ability to offer customers a seamless shopping environment across any channel and the capability to deliver merchandise immediately – wherever it is needed. It is time to prepare for the future of retail – it is here – whether we are ready or not.

Within this challenging environment, BRP conducted its 2017 Merchandise Planning Benchmark Survey to explore the current state of retail planning and to identify and understand retailers’ priorities as they strive to meet the needs and demands of today’s consumers.

To prepare for today’s new retail model, retailers need to:

Align the organization

  • 58% of retailers currently have an integrated planning organization across channels

Integrate planning processes        

  • 64% of retailers have integrated their business planning processes across channels

Implement the right technology

  • 33% of retailers have implemented new omni-channel demand planning systems within the last two years

Prioritize customer insight

  • 42% of retailers incorporate real-time customer feedback into their in-season planning

Take action

  • 19% of retailers must overcome IT/business resource constraints to advance their planning activities

To download the complete 2017 Merchandise Planning Survey, visit: https://brpconsulting.com/2017-merchandise-planning-survey/.

The 2017 Merchandise Planning Survey platinum sponsor is TXT Retail and the gold sponsors are Enspire CommerceJustEnoughLogilityNCR, and Retalon.

About BRP

BRP is an innovative retail management consulting firm dedicated to providing superior service and enduring value to our clients. BRP combines its consultants’ deep retail business knowledge and cross-functional capabilities to deliver superior design and implementation of strategy, technology, and process solutions. The firm’s unique combination of industry focus, knowledge-based approach, and rapid, end-to-end solution deployment helps clients to achieve their business potential. BRP’s consulting services include:

Strategy | Business Intelligence | Business Process Optimization | Point of Sale (POS) Mobile POS | Payment Security | E-Commerce | Store Systems and Operations | CRM Unified Commerce | Customer Experience | Order Management | Networks Merchandise Management | Supply Chain | Private Equity

For more information on BRP, visit http://www.brpconsulting.com.

Source: BRP

Boston Retail Partners: retailers recognize the importance of enhanced data and analytics

Retailers realize the importance but struggle to successfully understand and utilize analytics

Boston, MA , 2017-Mar-24 — /EPR Retail News/ — According to a new special report from Boston Retail Partners (BRP), retailers recognize the importance of enhanced data and analytics with 44% indicating improved analytics is a top priority. However, the ability to leverage analytics to improve business performance lags intent due to a lack of organizational alignment and inconsistent processes according to the BRP SPECIAL REPORT: The Fine Art of Analytics.

“It is becoming essential for retailers to broaden their analytical capabilities to effectively address strategic business decisions,” said Gene Bornac, vice president, BRP. “Analytics provide advanced visibility into sales performance by channel, by assortment, and further by item, which helps guide more accurate planning and allocation decisions.”

Implementation of a successful unified commerce analytics approach requires organizational alignment across all business segments. Without organizational alignment, it is difficult to maximize the benefits that big data can bring to omni-channel performance.

However, as organizations increasingly integrate their systems, omni-channel opportunities to gather and utilize data in interesting ways to make smarter merchandising decisions. Real-time analytics are a key part of identifying and understanding the customer across channels and creating the right assortment available at the right time for that customer. By prioritizing an investment in a systems architecture that handles collection and utilization of data universally across the organization, retailers can best position themselves for profitability and key differentiation to their customers.

This Special Report provides insight into BRP’s 2016 Merchandise Planning Survey, highlights the challenges facing leading retailers today relating to data and analytics, and offers next steps for retailers to make the most of the data that exists across their organization.

To download the complete BRP SPECIAL REPORT: The Fine Art of Analytics, visit: https://bostonretailpartners.com/2017-brp-special-report-analytics/

The Special Report sponsors are Logility (platinum), ANT USA (gold), JustEnough (gold), TXT Retail (gold) and Island Pacific (silver).

About Boston Retail Partners

Boston Retail Partners (BRP) is an innovative and independent retail management consulting firm dedicated to providing superior service and enduring value to our clients. BRP combines its consultants’ deep retail business knowledge and cross-functional capabilities to deliver superior design and implementation of strategy, technology, and process solutions. The firm’s unique combination of industry focus, knowledge-based approach, and rapid, end-to-end solution deployment helps clients to achieve their business potential. BRP’s consulting services include:

For more information on BRP, visit www.bostonretailpartners.com.

Media Inquiries:

David Naumann
916-673-7757

Source: BRP

Boston Retail Partners 2016 Merchandise Planning Survey

Survey of Leading Retailers Reveal that Planning Organizations are not Ready for Unified Commerce

Boston, MA, 2016-Nov-19 — /EPR Retail News/ — According to a new report from Boston Retail Partners (BRP), savvy retailers know their current planning tools are not capable of supporting the unified commerce environment necessary to satisfy today’s customers. According to the BRP 2016 Merchandise Planning Survey, retailers understand that merchandise needs to be available across channels, however, this makes planning exponentially more complex and challenging.

Today’s retailers wrestle with a myriad of business and IT issues as they strive for an efficient and effective omni-channel environment. The common issues include: current organization structure is not set up to plan and support an omni-channel environment, planning applications are ineffective and not integrated, and the current environment can’t support the complex analysis of the high volume of data required to optimize planning decisions and meet customer demand.

“While unified commerce is the desired model to which most retailers strive, planning organizations are struggling with the current lack of system, process and organization integration to support the necessary model,” said Gene Bornac, vice president at BRP. “The good news is that retailers recognize that there is a problem and there are a number of very good tools available to address the current planning needs. The bad news is that getting the budget and resource commitments to upgrade systems is a huge challenge.”

BRP’s 2016 Merchandise Planning Survey of top North American retailers offers insights into retailers’ current state of merchandise planning and their priorities and challenges as they strive to meet the needs of today’s omni-channel customer. Key findings from the survey include:

What are retailers doing today?

  • 71% do not have formal omni-channel demand planning processes
  • 38% plan brick-and-mortar as an individual channel
  • 44% have integrated planning teams but 86% need improvement

How can retailers overcome today’s obstacles?

  • 44% indicate that improving analytics is a top priority
  • 21% indicate that disparate systems and process challenges are the biggest planning obstacles
  • 41% plan to upgrade their omni-channel demand planning systems within two years

What integration issues are retailers facing?

  • 63% have integrated the planning organization across channels but 75% need improvement
  • 70% have integrated planning business processes across channels but 83% need improvement
  • 53% have integrated planning systems across channels but 77% need improvement

The 2016 Merchandise Planning Survey report provides retailers the following insights:

  • Understand key industry trends in merchandise planning
  • Identify how your merchandise planning capabilities and processes compare to your competition
  • Discover practical ideas and opportunities to improve your planning

To download the complete 2016 Merchandise Planning Survey, visit: https://bostonretailpartners.com/2016-merchandise-planning-survey.

The 2016 Merchandise Planning Survey sponsors include: Logility (platinum), ANT USA (gold), JustEnough (gold), TXT Retail (gold) and Island Pacific (silver).

About BRP

BRP is an innovative and independent retail management consulting firm dedicated to providing superior service and enduring value to our clients. BRP combines its consultants’ deep retail business knowledge and cross-functional capabilities to deliver superior design and implementation of strategy, technology, and process solutions. The firm’s unique combination of industry focus, knowledge-based approach, and rapid, end-to-end solution deployment helps clients to achieve their business potential. BRP’s consulting services include:

For more information on BRP, visit www.bostonretailpartners.com.

Media Inquiries:

David Naumann
916-673-7757

Source: Boston Retail Partners