Online shopping is addicting but the popular hobby is facing a big test amid changing trends and economic turmoil. How can brands meet consumer expectations and tackle supply chain complexity?
New data from Körber’s 2023 ‘State of Shipping and Returns’ report has revealed that 90 per cent of consumers are less likely to buy from a brand again after a poor online shopping experience.
The research also showed 70 per cent of consumers are having experienced a delayed online order in the last six months.
To address how to tackle supply chain complexity to help remedy these issues and meet consumer expectations – and drive future business success – more than 200 industry leaders from Australia, New Zealand, India, China and the United States met at Körber’s annual flagship conference Elevate APAC 2023 in Melbourne last week (2-3 May).
Anthony Beavis,Managing Director, ANZ. Image: Körber
The ‘State of Shipping and Returns’ survey announced at Elevate APAC 2023 gathered insights from 2,200 consumer across eight global regions (Australia, UK, Germany, France, US, Canada, Mexico and Brazil) on their post-purchase experience between the moment they click the ‘buy’ button and when the product reaches their doorstep.
Additional findings showed that over a third (35%) of respondents who experienced delays were not provided with a reason.
With speed and convenience driving online purchase decisions, the impact of these delays on customer satisfaction and subsequent brand loyalty is significant.
How can businesses best adapt to the post-pandemic supply chain world?
Körber leadership team, customers and other industry thought leaders, including McKinsey and Company, Accenture, Super Retail Group and Zebra gathered under the event theme of ‘Find Your Rhythm’ to tackle this very question.
Darren O’Connor, Körber’s Director of Solution Delivery says it all starts with the consumer and ensuring satisfaction across the online shopping experience is critical.
“Ensuring satisfaction across the online shopping experience is critical. The findings from our latest State of Shipping and Returns survey highlight these online consumer expectations and how necessary it is for organisations to build resilient and efficient supply chains – powered by technology and digitisation – to help meet these standards, allowing them to retain customers and scale their businesses.”
Darren O’Connor, Körber’s Director of Solution Delivery
A key insight discussed at the conference was new thinking and tools focused on gamification as a way to transform a disengaged warehouse operation workforce to an engaged workflow, positively impacting businesses.
Innovations include the launch of Körber’s ‘Robotics-as-a-Service (Raas) for e-fulfilment offering for APAC customers, providing simple access to a global network of robotics service partners for every business size and industry as well as Körber’s new warehouse Unified Control System (UCS). The UCS will orchestrate AMR, people-driven workflows and classic automation systems to boost throughput and productivity, and its Order Management System (OMS), enabling order visibility across channels and actionable data.
A vital keynote from John Laing, Senior Expert from McKinsey and Company on the role of Industry 4.0, and how actionable steps – including how prepositioning inventory close to the consumer to reduce delivery times, end-to-end supply chain transparency and advanced analytics to improve forecast accuracy through the supply chain – can help safeguard against economic challenges and future-proof supply chains.
Anthony Beavis,Managing Director, ANZ from Körber says the company were delighted to be able to come together in-person with customers and other industry leaders to learn from each other and “shine a light on some of the new solutions we can offer our customers”.
“As the first in-person flagship conference for Körber down under, the conference demonstrated how the APAC region will be a major focus for our future, and the investment we are making here to support that.”
Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.
Markets are moving into the Thanksgiving break with strong momentum, as stocks notch four straight days of gains. The Dow Jones Industrial Average jumped 388 points, while the S&P 500 added 0.9%, pushing both indexes toward their best week since June.
Oracle led major movers, rising more than 4% after Deutsche Bank reaffirmed its bullish outlook on the tech giant. Broad investor optimism continues building across sectors as economic data softens and earnings remain resilient.
All eyes are now on the Federal Reserve and what potential shifts in interest-rate policy may mean for the markets. U.S. markets will close Thursday for the Thanksgiving holiday and reopen Friday for a shortened trading session.
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In Short:
– Dow Jones rose 569 points, reflecting optimism for a Federal Reserve interest rate cut.
– Alphabet’s stock increased as Meta may invest in AI chips, but Nvidia’s declined amid market concerns.
The Dow Jones Industrial Average increased by 569 points or 1.2% on Tuesday, reflecting investor optimism for an upcoming Federal Reserve interest rate cut. The S&P 500 and Nasdaq Composite also posted gains, up 0.8% and 0.4% respectively. This represented a recovery from earlier losses, where the S&P 500 briefly fell by 0.7%.
Markets anticipate an 85% chance of a quarter-point rate cut in December, driven by comments from New York Fed President John Williams, who indicated the possibility of lower rates soon. Investor sentiment strengthened following reports that Kevin Hassett may be appointed as the next Fed chair, potentially resulting in a more lenient monetary policy.
Tech Sector
Alphabet saw its stock rise by over 1% after reports indicated that Meta Platforms might invest in its AI chips. This could signal increased demand for AI technology, benefiting the sector overall. However, Nvidia’s stock fell more than 3%, suggesting concerns about its dominance in the AI chip market.
Investors are also wary of the valuation of tech stocks. Despite recent gains, the S&P 500 and Nasdaq remain down over 1% and 3%, respectively, for November, while the Dow has lost more than 1% this month. The broader market’s performance indicates ongoing scrutiny regarding tech valuations amid changing economic expectations.
Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.
Gold prices are climbing fast as central banks ramp up buying, pushing demand to its highest levels in years. The metal’s reputation as a safe haven is strengthening, especially amid rising geopolitical tensions and global financial uncertainty.
But experts warn the shine could fade. A stronger US dollar and the possibility of rising interest rates may weigh on momentum, making investors question how long the rally can last.
Dr Steven Enticott from CIA Tax breaks down the drivers behind gold’s surge—from ETF inflows to physical bar demand—and what could send the price sharply higher… or lower.
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