The rapid growth of e-commerce and mobile technology is changing retail habits rapidly. Consumers now demand for reliable and complete product information, increased product availability and better customer experience. They expect to purchase products and services anywhere and anytime it suits them. With more customers demanding for the seamless experience, leading industry players should find a way to make it happen. Through GS1 Standards, retailers can serve their customers more efficiently.
In the recent years, there has been a great barrier between what consumers expect and what retailers can provide as evidenced by the problem with returns. In the past, consumers can simply return their items to the shops they bought them from. However due to omni-channel retailing, products and services can be obtained through multiple fulfilment options – deliver to home, in store, click and collect, and many more – making the returns process more complicated.
Industry-wide solutions are necessary to help streamline the now complicated returns process. Getting returns right is critical for customer loyalty. In fact, three-fourths of customers around the world consider getting returns right as a top reason for shopping with a specific retailer. Industry-wide solutions are also vital in providing quality data to consumers, in-store or online, making retailers become omni-channel.
In a world of growing data, GS1 standards help single out the important ones to give retailers around the world a common language to uniquely identify, accurately capture and automatically share supply chain data about products, assets, locations and more. These standards can also be combined to streamline business processes such as traceability.
Since retail habits are rapidly changing, retailers face a huge challenge to integrate their supply chain processes and logistics. In addition, most customers expect a more seamless experience across all channels. Fortunately, GS1 standards have been around to facilitate a better way of working in the retail world today. It drives trust and confidence in the supply chain process and helps retailers put their customers at heart.