New York, NY—A new report by Coresight Research indicates the critical importance of digital transformation in the retail environment. A New Reality Demands a Networked Product and Supply Chain Platform highlights the industry trends and changes accelerated by the COVID-19 pandemic, and suggests that the capacity to adapt to changing consumer preferences about both shopping and order fulfilment will be the key to survival during and coming out of these unprecedented times. The report, sponsored by Bamboo Rose, a leader in the realm of multi-enterprise platforms (MEPs) for retailers, brands and wholesalers, analyzes the results of a May 2020 Coresight Research study of 118 US retailers and Direct To Consumer (DTC) brands on their businesses and investment challenges due to COVID-19, as well as their experience with digital or multi-enterprise platforms.
Notes CEO and Founder of Coresight Research, Deborah Weinswig: “Our survey found that close to 50% of retailers surveyed felt that the ongoing agility and flexibility of their supply chains was their most pressing business issue in the upcoming 12-24 months. Recent, unprecedented changes to the retail industry, and the world, support this feeling – let’s recall that grocery stores across the US rapidly ran out of toilet paper and baking yeast early in spring 2020. How could those shortages have been prevented – getting the customers the products and the retailers the revenue they needed – had supply chains been prepared to pivot?”
“Multi-enterprise platforms create business communities that are agile, fast, and cost effective,” said Bamboo Rose CEO, Sue Welch. “Given the current environment, companies must act with speed and decisiveness, but firms can only act as quickly as their slowest partner. We certainly saw that our retail, brand, and supplier clients were able to not only mitigate the impact of COVID-19 but could also take advantage of new business opportunities and revenue models.”
The study, to be released on September 1, 2020, gathers insights into how retailers can better prepare for the future with multi-enterprise platforms, which can provide benefits such as:
• Cloud-based, real-time business networks that facilitate communication and collaboration
• Improved business relationships
• Accelerated speed to market due to increased options, more informed choices, and overall supply chain visibility
• Heightened collaboration across the entire value chain
• Enhanced sales and profitability, and new revenue opportunities
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, Hong Kong, Shanghai, and Mangalore (India). The firm provides data-driven analysis and strategic advisory to clients including retailers, brands, enterprise technology companies, accelerators and more. In addition to being renowned for its breadth and depth of research, Coresight Research is known for its expertise in the China market, helping clients with market entry and cross-border e-commerce strategies. Coresight Research is also known for its Innovator Intelligence platform, consisting of a vast network of technology entrepreneurs that it actively cultivates through events, mentorship, and regularly updated report coverage. For more information, visit www.coresight.com.
About Bamboo Rose
Bamboo Rose is the industry-leading Multi-Enterprise Product and Supply Chain Platform, connecting the entire retail community and helping companies bring great products to market faster, more efficiently, and at higher margins. Our platform features a suite of patented supply chain solutions, including Bamboo Rose Marketplace, Product Lifecycle Management, Sourcing, Purchase Order Management, Global Trade Management, and Financing, each one supported by intelligent engines for optimization, costing, and scheduling across the platform.