Retailers have been having a hard time of late, and most expect returns to go up dramatically over the next year or so. This information comes from a new analysis conducted by Fluent Commerce, and it reveals the extent of the challenges that the next twelve months will bring to most retailers. According to this report, 81% of all retailers that were surveyed said that they expect an increase in product returns in the coming year.
With all of that having been said and now out of the way, it is important to note that around 52% of retailers said that they would have a hard time coping with these challenges. 88% also expect their product stock to go up, and only 43% stated that they are equipped to deal with it. Increasing assets can be a good thing, and 87% of retailers are expecting it, but yet again a meager 32% have the capacity to deal with these ever increasing assets with all things having been considered and taken into account.
Three other areas where retailers are expecting growth that they are ill equipped to deal with are new technologies, which is expected by 71% but only 46% are prepared, store fulfilled orders with 66% and 35% and finally engagement channels with 60% expecting growth and only 46% saying that they are utilizing them effectively. Furthermore, just 17% of retailers were prepared to launch an online marketing campaign within the span of a week, and that suggests that they will be less able to advertise their wares than might have been the case otherwise.
A lack of accuracy in store inventory is highlighted as one of the biggest hurdles that retailers are being faced with. Inventory visibility is at an all time low, and that might be contributing to this issue right now. Retailers are also having trouble finding actionable inventory information online. All of these problems would have to be resolved otherwise retailers would be unable to keep their revenues high and we might see their stock prices crashing in the near future unless changes are made.
Read next: Consumer Survey Reveals What 2022 Holiday Shopping Will Be Like
With all of that having been said and now out of the way, it is important to note that around 52% of retailers said that they would have a hard time coping with these challenges. 88% also expect their product stock to go up, and only 43% stated that they are equipped to deal with it. Increasing assets can be a good thing, and 87% of retailers are expecting it, but yet again a meager 32% have the capacity to deal with these ever increasing assets with all things having been considered and taken into account.
Three other areas where retailers are expecting growth that they are ill equipped to deal with are new technologies, which is expected by 71% but only 46% are prepared, store fulfilled orders with 66% and 35% and finally engagement channels with 60% expecting growth and only 46% saying that they are utilizing them effectively. Furthermore, just 17% of retailers were prepared to launch an online marketing campaign within the span of a week, and that suggests that they will be less able to advertise their wares than might have been the case otherwise.
A lack of accuracy in store inventory is highlighted as one of the biggest hurdles that retailers are being faced with. Inventory visibility is at an all time low, and that might be contributing to this issue right now. Retailers are also having trouble finding actionable inventory information online. All of these problems would have to be resolved otherwise retailers would be unable to keep their revenues high and we might see their stock prices crashing in the near future unless changes are made.
Read next: Consumer Survey Reveals What 2022 Holiday Shopping Will Be Like
