{"id":4408,"date":"2021-09-22T10:45:46","date_gmt":"2021-09-22T10:45:46","guid":{"rendered":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/?p=4408"},"modified":"2021-09-21T10:54:12","modified_gmt":"2021-09-21T10:54:12","slug":"how-much-does-speed-mater","status":"publish","type":"post","link":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/how-much-does-speed-mater\/","title":{"rendered":"How much does speed mater?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"4408\" class=\"elementor elementor-4408\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b3f01ba elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b3f01ba\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-cdf829e\" data-id=\"cdf829e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-48d6e66 elementor-widget elementor-widget-image\" data-id=\"48d6e66\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"820\" height=\"420\" src=\"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-content\/uploads\/2021\/09\/How-much-does-speed-matter_photo.jpg\" class=\"attachment-large size-large wp-image-4409\" alt=\"\" srcset=\"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-content\/uploads\/2021\/09\/How-much-does-speed-matter_photo.jpg 820w, https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-content\/uploads\/2021\/09\/How-much-does-speed-matter_photo-300x154.jpg 300w, https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-content\/uploads\/2021\/09\/How-much-does-speed-matter_photo-768x393.jpg 768w\" sizes=\"(max-width: 820px) 100vw, 820px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9a477d8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9a477d8\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0ee96e7\" data-id=\"0ee96e7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f06016c elementor-widget elementor-widget-text-editor\" data-id=\"f06016c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Online delivery has exploded in popularity and demand during and post-pandemic, tapping out most traditional delivery services.<\/p><p>According to a survey by <a href=\"https:\/\/www.onerail.com\/wp-content\/uploads\/2021\/08\/OneRail_LastMileDelivery_Info.pdf\">TrendCandy<\/a> <strong>last-mile delivery is the No. 1 delivery pain point for over half of retailers<\/strong> surveyed. Retailers say they could increase profits by 156% if they had better technology tools while only 12% have full visibility into their last-mile delivery.<\/p><p>At the same time, <a href=\"https:\/\/www.mckinsey.com\/industries\/retail\/our-insights\/retails-need-for-speed-unlocking-value-in-omnichannel-delivery?cid=other-eml-alt-mip-mck&amp;hdpid=e57f0dd9-b706-4da9-8a70-e4b68f4f0844&amp;hctky=12519391&amp;hlkid=de9d790a2e2a405598d1d9fd72da2176\">McKinsey&#8217;s research<\/a> shows that <strong>when delivery times are too long, almost half of omnichannel consumers will shop elsewhere<\/strong>. As for how long is too long, more than 90% of US online shoppers expect free two- to three-day shipping.<\/p><p>When customers expect faster delivery, and there\u2019s limited willingness to pay for it, what can retailers do to keep up?<\/p><p>75% of apparel, hard goods, and specialty retailers\u00a0<a href=\"https:\/\/www.mckinsey.com\/industries\/retail\/our-insights\/retail-speaks-seven-imperatives-for-the-industry\">intend to build network capabilities<\/a> that offer two-day or faster delivery, and 42% are aiming for one-day click-to-customer lead times by 2022 according to McKinsey.<\/p><p>While enabling faster delivery means higher costs, these can be shifted with <strong>a combination of strategies involving network expansion, technological capabilities, and partnerships<\/strong>, for example:<\/p><ul><li>Understand where speed matters depending on the retail segment<\/li><li>Invest selectively in network expansion with cost-effective solutions like dark stores or smaller-format operations in general<\/li><li>Take advantage of new technology, automation and analytics<\/li><li>Face any challenges by leveraging regional or ride-share drivers<\/li><\/ul><p>Given consumers\u2019 shift and new expectations of fast delivery, retailers should not forget that curbside, returns, buy online, and in-store pickup are also of critical importance in the omnichannel experience.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b932707 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b932707\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6c72a29\" data-id=\"6c72a29\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-71fc394 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"71fc394\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-0ea6ca2\" data-id=\"0ea6ca2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9e1f7bc elementor-widget elementor-widget-text-editor\" data-id=\"9e1f7bc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\tShare this post:\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-057c992\" data-id=\"057c992\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Decoding the online delivery frenzy and what it means for retailers. <\/p>\n","protected":false},"author":1,"featured_media":4409,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[7,8,10],"_links":{"self":[{"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/posts\/4408"}],"collection":[{"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/comments?post=4408"}],"version-history":[{"count":0,"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/posts\/4408\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/media\/4409"}],"wp:attachment":[{"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/media?parent=4408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/categories?post=4408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/tags?post=4408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}