Latest news with #retailinnovation
Zawya
7 days ago
- Business
- Zawya
Tech Mahindra and Coresight Research release report highlighting key global trends for building the 'Store of the Future'
Pune – Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industries, in collaboration with Coresight Research, a leading research and advisory firm specializing in retail and technology, unveiled a global survey report titled ' Store of the Future: Unlocking Performance Through Innovation.' The report provides timely, data-backed insights into how retailers are modernizing their in-store operations by focusing on unifying the shopper journey, enhancing the shopper experience, optimizing labor productivity, and maximizing store sales - the four pillars of building the 'Store of the Future.' The report defines the store of the future as a technology-enabled, data-integrated retail environment designed to elevate customer journey while driving back-end efficiency. Based on a survey of 360 retail decision-makers across North America and Europe, the findings highlight how leading retailers are turning to technology to solve core operational challenges, from ineffective store management to inventory inaccuracies - with 92% actively investing in tools to enhance in-store operations. Sampath Saagi, Head of Diverse Industry Verticals Group (DIG), Americas, Tech Mahindra, said, 'The 'Store of the Future' is more than just a connected space, it's a dynamic, data-driven environment where seamless customer experiences meet operational efficiency. This report envisions equipping retailers with actionable insights and a practical roadmap to navigate their transformation journey - helping them identify where to invest, improve store performance, and deliver greater value to customers. Through our collaboration with Coresight Research, we aim to empower the industry with data-led strategies for building smarter, future-ready stores.' Key findings highlight an industry in transition: 92% of retailers are actively investing in technologies to boost in-store operations. 84% of respondents acknowledge persistent operational inefficiencies that affect margins and revenue. Enhancing shopper experience emerged as the top priority for 40% of retailers building future-ready stores. 57% are investing in advanced data analytics, making it the most widely adopted technology, while automated inventory tracking is seen as the most critical need. Retailers anticipate that technology will drive benefits, including improved product availability, greater automation, and real-time data insights. Automated inventory tracking is viewed as the most critical capability for future store operations. The top three benefits of technology adoption are greater product availability, increased automation, and access to real-time data. The report outlines that despite widespread optimism towards technologies, challenges remain, such as high implementation costs and data security concerns, that continue to slow adoption, underscoring the need for a phased, strategic approach to digital transformation. Deborah Weinswig, CEO and Founder of Coresight Research, said, 'Building the 'Store of the Future' goes beyond deploying isolated technologies; it requires a clear understanding of core operational challenges and a cohesive blueprint to solve them. Success hinges on aligning investments with both near-term performance goals and long-term scalability to create a true competitive edge.' The report provides global retailers a roadmap for building scalable, secure, and future-ready retail environments – 'Store of the Future.' For more information about Tech Mahindra's retail solutions, click here About Coresight Research Coresight Research is a research and advisory firm specializing in retail and technology. Established in 2018 by leading global retail analyst Deborah Weinswig, the firm is headquartered in New York, with offices in London, Lagos, Hong Kong, Shanghai and Mangalore (India). The firm provides data-driven analysis and strategic advisory to clients including retailers, brands, real estate owners, enterprise technology companies, accelerators and more. For more information, please visit About Tech Mahindra Tech Mahindra (NSE: TECHM) offers technology consulting and digital solutions to global enterprises across industries, enabling transformative scale at unparalleled speed. With 148,000+ professionals across 90+ countries helping 1100+ clients, Tech Mahindra provides a full spectrum of services including consulting, information technology, enterprise applications, business process services, engineering services, network services, customer experience & design, AI & analytics, and cloud & infrastructure services. It is the first Indian company in the world to have been awarded the Sustainable Markets Initiative's Terra Carta Seal, which recognizes global companies that are actively leading the charge to create a climate and nature-positive future. Tech Mahindra is part of the Mahindra Group, founded in 1945, one of the largest and most admired multinational federation of companies. For more information on how TechM can partner with you to meet your Scale at Speed™ imperatives, please visit Our Social Media Channels For more information on Tech Mahindra, please contact: Abhilasha Gupta, Global Head – Corporate Communications & Public Affairs, Tech Mahindra Email: ;
Forbes
06-08-2025
- Business
- Forbes
Smarter Retail Planning: Bringing Pricing And Inventory Together
Devadas Pattathil, retail thought leader, cofounder & CEO of and previously online grocery executive at Walmart. Back in March 2024, NPR's Planet Money featured a fascinating episode called 'Is Dynamic Pricing Coming to a Supermarket Near You?' It highlighted REMA 1000, a Norwegian grocery chain that's doing something smart—using real-time competitor data and electronic shelf labels (ESLs) to update prices rapidly. But what set REMA 1000 apart wasn't just dynamic pricing. Their biggest innovation was how they connected pricing with inventory management to reduce waste, improve sell-through, and protect margins. This story isn't just about grocery stores—it's a lesson for retailers and brands everywhere, whether you sell in stores, direct to consumers or through marketplaces. The Problem: Planning in Silos Today, many companies still plan in disconnected steps. They forecast demand, assuming prices won't change; buy inventory based on those forecasts; and only later adjust prices—often as a reaction to market conditions. This siloed approach causes common issues. Inventory planning doesn't take pricing into account, leading to overstocked items that end up with late markdowns and fast-selling products running out too soon, leaving money on the table. Promotions are also planned without fully understanding inventory availability or margin impact. REMA changed this by combining real-time competitor price tracking with dynamic price updates on ESLs. They marked down perishables early to avoid spoilage, raised prices on scarce items and used pricing data to continuously improve demand forecasts. This created a tightly connected system where pricing, inventory and forecasting all worked together seamlessly. What Retailers And Brands Can Learn Traditional demand forecasts often assume a fixed price, but in reality, price affects demand a lot. Promotions cause demand spikes, price sensitivity varies by product and region, and competitor prices constantly change. Instead of forecasting one fixed number of units at a set price, it's better to model demand as it changes with price. For example, you might forecast selling 1,300 units if the price is $20, 1,000 units at $25, and 600 units at $30. This approach lets you plan inventory and pricing together, rather than separately. Moving beyond this, companies should use integrated models that recommend how much to buy based on pricing strategy, simulate sales depending on price and promotion timing and adjust prices according to expected inventory levels. For brands, this means planning product launches, bundles and promotions while keeping inventory realities in mind. For retailers, it means rethinking how markdowns, sales and restocking interact. Looking Ahead The future points toward intelligent Agentic AI systems where pricing agents collaborate closely with inventory planning agents, all connected with forecasting and replenishment. These systems can help answer important questions like: 'What's the best price to sell 90% of stock in four weeks?' or 'How much inventory do I need to support a 30% off sale?' or 'Which products should I push based on current stock and margin?' To answer these questions, you need systems that simulate pricing, demand and inventory together—not just separate demand plans or price calendars. Instead, these elements form an adaptive loop where each influences the other in real time. That said, as with any emerging technology, Agentic AI systems come with their share of limitations and challenges. A recent study highlighted that many agent-based systems today are still under development and can fail to perform efficiently under real-world constraints. Retailers should approach these tools with clear performance benchmarks, tight integration testing and human oversight to ensure decisions made by AI agents align with broader business goals. Summary REMA's example is powerful, but the bigger truth is this: price and inventory decisions are deeply linked. Whether you're a global retailer or a growing brand, your success depends on your ability to forecast demand based on price, price products based on inventory and plan inventory based on your pricing path. The next era of retail planning will be defined by real-time responsiveness, powered by models that treat pricing and inventory as two sides of the same coin. If you want to stay ahead, it's time to start thinking of pricing and inventory as a connected team, not separate tasks. While the operational benefits of dynamic pricing and ESLs are compelling, it is important to acknowledge consumer sentiment. Surveys show that many shoppers view dynamic pricing skeptically—especially when it resembles surge pricing. To build trust, retailers must communicate clearly about how and why prices change. Transparency, consistency and fairness must be foundational. Leaders can set the tone by committing to guardrails—like avoiding exploitative pricing in emergencies—and by emphasizing how pricing flexibility helps reduce waste, ensure availability, and improve sustainability. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
Zawya
02-07-2025
- Business
- Zawya
Oriental Weavers launches OW Haptech Store — The world's first-ever phygital carpet retail experience
Cairo – Oriental Weavers, the world's leading manufacturer of woven carpets, announces the launch of the OW Haptech Store, the world's first-ever phygital carpet retail store, now open in Mivida, New Cairo. By integrating physical product exploration with interactive digital technologies, the store sets a new global benchmark for the carpet industry, reinforcing Oriental Weavers' commitment to innovation and craftsmanship while redefining the future of carpet retail. Spanning 250 square meters, the state-of-the-art store introduces a new retail model that merges real-time visualization tools, immersive environments, interactive displays, and AI-driven customization to meet the evolving expectations of today's consumers, who value creativity, convenience, and personalization. Moreover, It features exclusive, limited-edition international pieces from Oriental Weavers' global portfolio. Commenting on this, Ms. Yasmine Khamis, Chair of Oriental Weavers Carpets, said: 'OW Haptech Store represents a breakthrough for the global carpet industry, introducing the world's first-ever phygital retail carpet store right here in Egypt. This innovation underscores Oriental Weavers' global leadership. With a presence in over 118 countries and operations spanning 27 factories in Egypt and the US, we are proud to be a symbol of 'Made in Egypt' excellence, driving industrial growth, creating jobs, and supporting the state's vision to position Egypt as a global manufacturing hub.' The launch of OW Haptech store brings together tactile sensory interaction and digital innovation in a seamless in-store experience, derived from 'haptic' and 'technology.' It invites customers to reimagine their homes through a variety of interactive features. Using full-scale projection, the Phygital Preview allows them to visualize designs directly on the store floor and explore wall-mounted sampling sections that showcase the look and feel of each rug before finalizing their choices. In the OW Studio, customers can co-create customized rugs with Oriental Weavers' experts using AI-powered design tools. The store reflects OW's strategic vision to modernize retail while staying rooted in quality and heritage. This is part of a continued investment in smart manufacturing, digital retail solutions, and sustainable materials, further reinforcing Oriental Weavers' long-term commitment to efficiency, innovation, and leadership in the global carpet market. About Oriental Weavers Group: The Oriental Weavers Group was founded in 1979 by industrialist and entrepreneur Mohammed Farid Khamis. Listed on the Egyptian Stock Exchange (EGX) since 1997, the Group has grown from a single loom operation to become the largest producer of machine-woven carpets in the world. Drawing from Egypt's rich textile heritage, dating back to c.5000 BC, Oriental Weavers is now a global leader in tufted and jet-printed carpets. Based in Cairo, the Group has manufacturing facilities in the United States and Egypt and distributes its products in over 118 countries. Oriental Weavers is committed to innovative manufacturing processes, inspired by the latest trends, and providing products that are both accessible and of high quality, crafted to deliver lasting value and happiness to its customers.
Yahoo
01-07-2025
- Business
- Yahoo
Why Walmart Just Opened 'Dark Stores' You Can't Shop In
Walmart has launched a bold new retail experiment, and customers aren't invited inside. The retail giant is testing "dark stores," which look like regular stores on the outside but are closed to the public. Instead, they serve one purpose: fulfilling online orders as quickly as possible. Bloomberg reported that the first of these hidden-in-plain-sight warehouses just opened in Dallas, with another planned for Bentonville, Arkansas, Walmart's hometown. More locations are expected to follow as the company ramps up efforts to compete with Amazon and meet growing demand for lightning-fast delivery. These dark stores carry Walmart's most in-demand items, streamlining the process of getting products from shelf to doorstep. Unlike traditional stores or massive distribution centers, dark stores are designed for speed. By eliminating foot traffic and optimizing layouts for employees and delivery drivers, they allow Walmart to reach more homes faster and more efficiently. Walmart previously dabbled in dark stores during the mid-2010s and throughout the pandemic but shut them down as shopping habits with e-commerce surging again and customers increasingly paying for faster delivery, the retailer is bringing the concept back with a modern twist. These smaller-scale fulfillment hubs will amplify the reach of both its neighborhood stores and larger regional warehouses. The initiative is part of a larger digital transformation. Walmart has invested billions into online operations, expanded its marketplace for third-party sellers, introduced services like pharmacy delivery, and adopted automation for picking and packing orders. Executives expect the online business to hit profitability this year. While Amazon has long dominated the race for fast shipping, Walmart's infrastructure and deep pockets give it a unique edge. By turning dark stores into a nationwide network of fulfillment engines, Walmart is betting that convenience—not just price—is what will keep customers coming back. In a retail landscape that's evolving at warp speed, these behind-the-scenes stores may soon become the secret weapon in Walmart's quest to win the delivery Walmart Just Opened 'Dark Stores' You Can't Shop In first appeared on Men's Journal on Jun 24, 2025
National Post
24-06-2025
- Business
- National Post
NuORDER by Lightspeed Expands Luxury Retail Footprint with Saks Global
Article content As part of an expanded partnership with Saks Global, Neiman Marcus and Bergdorf Goodman will now leverage NuORDER, advancing the company's efforts to reinvent luxury shopping Article content MONTREAL — NuORDER by Lightspeed, a leading global commerce platform that enables retailers and brands to connect, collaborate, and make smarter buying decisions, has established an expanded partnership with Saks Global. Saks Fifth Avenue has leveraged NuORDER to make informed buying decisions and enhance efficiency. Now, NuORDER's capabilities will be extended to Neiman Marcus and Bergdorf Goodman to help Saks Global further its efforts to reinvent the luxury shopping experience. Article content 'With the continuous evolution of luxury consumer shopping preferences, we're committed to building a luxury fashion assortment that is both relevant and inspiring for our customers,' said Paolo Riva, Chief Brand Partnerships & Buying Officer, Saks Fifth Avenue and Neiman Marcus. 'We're pleased to partner with NuORDER in our efforts to drive timely buying decisions in collaboration with our brand partners, enabling us to meet our customers with a refined edit of the latest fashion through highly personalized shopping experiences.' Article content Yumi Shin, Chief Merchandising Officer, Bergdorf Goodman, added, 'With NuORDER's innovative analytical capabilities, we are continuing to equip our teams with modern tools to ensure our customers' needs are met. We look forward to working with NuORDER to amplify our globally recognized curation and deliver the best in luxury, season-after-season.' NuORDER by Lightspeed has revolutionized the buying and merchandising process for retailers that operate multiple channels and cater to different markets while still delivering a strong, cohesive brand experience. By replacing outdated manual processes with a digital interface, NuORDER reduces operational costs significantly for retailers. Now, buying teams can easily plan and manage assortments across hundreds of brands, aligning their selections with the evolving tastes of today's luxury consumer. Brands and retailers can collaborate in real-time to curate hyper-personalized assortments based on live data and insights to drive profitability and speed up order writing to get the right products in front of the right customers at the right time. Article content 'Retailers are rethinking their wholesale strategies to become more precise, profitable, and brand aligned. We are proud that Saks Global continues to see NuORDER as a key part of their merchandising strategy,' said Chris Akrimi, General Manager of NuORDER by Lightspeed. 'By expanding our partnership to include Neiman Marcus and Bergdorf Goodman, Saks Global is reinforcing its commitment to smarter buying, faster go-to-market timelines, and delivering assortments that meet the moment.' Article content NuORDER by Lightspeed is a leading B2B commerce platform powering wholesale buying and selling. NuORDER offers a full suite of commerce solutions engineered to streamline the way brands sell their products all around the world while providing retailers with the insights they need to make better buying decisions. Today, more than 4,000 brands and more than 100,000 vetted retailers use NuORDER to transform their wholesale operations. Lightspeed acquired NuORDER in 2021. Article content Powering the businesses that are the backbone of the global economy, Lightspeed's one-stop commerce platform helps merchants innovate to simplify, scale, and provide exceptional customer experiences. Lightspeed's cloud commerce solution transforms and unifies online and physical operations, multichannel sales, expansion to new locations, global payments, financial solutions, and connection to supplier networks. Article content Founded in Montréal, Canada in 2005, Lightspeed is dual-listed on the New York Stock Exchange (NYSE: LSPD) and Toronto Stock Exchange (TSX: LSPD). With teams across North America, Europe, and Asia Pacific, the company serves retail, hospitality, and golf businesses in over 100 countries. Article content Follow NuORDER on social media: LinkedIn, Facebook, Instagram, and X. Article content Forward-Looking Statements Article content This news release may include forward-looking information and forward-looking statements within the meaning of applicable securities laws (' forward-looking statements '), including information regarding Lightspeed's product offerings and partnerships. Forward-looking statements are statements that are predictive in nature, depend upon or refer to future events or conditions and are identified by words such as 'will', 'expects', 'anticipates', 'intends', 'plans', 'believes', 'estimates' or similar expressions concerning matters that are not historical facts. Such statements are based on current expectations of Lightspeed's management and inherently involve numerous risks and uncertainties, known and unknown, including economic factors. A number of risks, uncertainties and other factors may cause actual results to differ materially from the forward-looking statements contained in this news release, including, among other factors, those risk factors identified in our most recent Management's Discussion and Analysis of Financial Condition and Results of Operations, under 'Risk Factors' in our most recent Annual Information Form, and in our other filings with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission, all of which are available under our profiles on SEDAR+ at and on EDGAR at Readers are cautioned to consider these and other factors carefully when making decisions with respect to Lightspeed's subordinate voting shares and not to place undue reliance on forward-looking statements. Forward-looking statements contained in this news release are not guarantees of future performance and, while forward-looking statements are based on certain assumptions that Lightspeed considers reasonable, actual events and results could differ materially from those expressed or implied by forward-looking statements made by Lightspeed. Except as may be expressly required by applicable law, Lightspeed does not undertake any obligation to update publicly or revise any such forward-looking statements, whether as a result of new information, future events or otherwise. Article content Article content Article content Article content
