Last week there were a couple of great events related to global eCommerce here in New York — Borderfree had its annual Global eCommerce Forum and Adyen held a local merchant event. A few themes emerged:
Omnichannel is now a must-have. At both events, omnichannel retail was front and center. Adyen underscored the opportunities inherent in integrating online and offline payments. At the Borderfree event, Stephen Sadove, the former chairman and CEO of Saks, kicked off the event with 10 disruptive trends. He declared that #1 and #10 were most important: #1 was the shift to omnichannel. Sadove cited the substantial gross margin implications of being able to move inventory between channels; he also emphasized it’s “not a sustainable point of view ” to believe that getting one view of the customer is just too expensive.
The demands of retail leaders have shifted. Other issues that came up regularly with attendees at both events were the changing needs of retail and the challenge of hiring qualified talent (“talent requirements” was the #10 big trend on Sadove’s list above). Today’s business leaders must be able to deal with a laundry list of new topics — e.g. mobile payments, cross-border eCommerce — many of which wouldn’t have registered on their agenda just a decade ago.Read more