APRIL - 20228 logisticstechoutlook.comGAINING A COMPETITIVE ADVANTAGE IN THE RETAIL INDUSTRY THROUGH TECHNOLOGYBy Jim Hamilton, EVP, Chief Digital Products Officer, Transportation Insight & Nolan Transportation GroupJim Hamilton is the Chief Digital Product Officer at Transportation Insight (TI) and Nolan Transportation Group (NTG). Jim leads the launch of a new digital products platform, which brings data-driven technology and end-to-end services providing one-touch accessibility to any business, any size, with any need ­ solutioning the simplest to most complex need in the logistics industry. E-commerce has accelerated digital supply chains and how consumers interact with retailers. Consumer expectations and experiences in how they shop have changed since the COVID-19 pandemic began in 2020. The ability to buy online and pick up or return in a store, curbside pickups and the ability to check online for physical store locations for the availability of items such as apparel, electronics, and pet supplies have all become expectations by consumers. Today, consumers have fully embraced retailers' investments in omnichannel strategies, which connect online stores with physical stores.These trends were already emerging, but COVID-19 was the catalyst that served as the kick-starter to fast forward them. Almost overnight, consumers switched to purchasing goods online. The immediate shift resulted in e-commerce sales reaching a high of over 16 percent of total US retail sales for the second quarter in 2020. Since then, however, e-commerce, as a percentage of total US retail sales, has settled around 13 percent as more consumers become vaccinated and are more comfortable shopping in physical stores.IN MY OPINION
< Page 7 | Page 9 >