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    Consumer electronics experts explain how to reduce financial & operational concerns so you can concentrate on your products. [Whitepaper]
    See why consumer electronic companies turn to accounts receivable management companies. [Article]

    With e-commerce becoming increasingly prevalent, social shaking things up and brick-and-mortar-focused retailers stepping up their online game, 2017 will prove to be an interesting year for retail. Here is just a glimpse at some of the trends happening in the industry that you may not know. 

    Malls Aren't Dead thumbnail1. Free vs. fast – The importance of on-demand delivery…

    Amazon has long been cited as the catalyst for the on-demand shipping craze, and retailers have been scrambling to pick up the pieces ever since. But is fast more important than free? A study conducted by Deloitte found that even for those consumers pressed for time, free shipping remained a top priority for shoppers, with 72% of respondents saying they would take advantage of some type of free shipping deal in the near future. And nearly 87% prioritized free shipping over fast shipping (13%) when shopping online.1

    2. Mobile meets click and collect at the intersection of online shopping and in-store pick up…

    Traditional click-and-collect programs have been around for some time. However it is anticipated that mobile will play a bigger role in this process. Retailers are increasingly experimenting with mobile to facilitate click-and-collect. Some, such as Kohl’s department store, now enable customers to buy via mobile and pick up in-store, while others, like Sam’s Club [Walmart], are using mobile to send notifications whenever an order is ready for in-store pickup. High-end retailer Nordstrom has also tapped mobile to help jazz up its in-store pickup experience by offering a little “curb appeal.” Last year they began testing a service that would allow customers to text or call their Nordstrom associate as they are approaching the store. The store employee would then meet the customer outside with their order. They don’t even have to get out of the car.2

    Shopping mobile in store3. Attention New Entrants: Web presence is now the price of entry in retail...

    From grassroots sites, to acquisitions and the expansion of shipping capabilities, retailers everywhere are diving head first into online retail. So it’s no surprise that having an online presence is the #1 strategic investment for 2016, right alongside two other components of e-commerce: social media and digital marketing.

    4. Mobile and social invades hiring goals and practices…

    Most retailers have taken clear steps to invest in mobile and social, like updating their websites and increasing their email campaigns. Realizing that these efforts must be a key part of their strategic plan, and nearly three in five (58%) have changed their hiring practices to keep pace with their digital and social strategy, adding staff to beef up their digital/mobile sales channels.

    5. Brick-and-mortar stores are in a state of flux…

    While retail sales from physical stores continue to outperform both web and mobile sales combined, half of retailers believe that it will be impossible to survive going forward without an online presence. As a result, retailers are treating their physical locations much differently than they have in the past. Almost four in five have adapted the role of their physical stores to be more closely aligned with their digital channels, treating them not as a primary sales driver but as a compliment to their digital strategy.

    1. https://www2.deloitte.com/us/en/pages/about-deloitte/articles/press-releases/deloitte-annual-holiday-survey-free-trumps-speed-for-holiday-shipping-policies.html
    2. https://www.vendhq.com/university/retail-trends-and-predictions-2016

    When CE manufacturers' products are moving briskly off retailers' shelves, both vendor and retailer are happy. The sun is out, the birds are singing and all is right with the world.

    But entering into any vendor-retailer relationship, regardless of how good the business is doing, some rain must fall. Your payment from a retailer could get hung-up for any number of reasons at either end of the transaction, justified or not, and regardless of where the fault lies.

    Resolving retailer issues could become a consistent pursuit that can put a crimp in your cash flow, impede your operation and ruin a perfectly harmonious retailer relationship. And personally pressing for payment is unlikely to improve matters.

    So what do you do to preserve and protect that carefully crafted retail relationship and still get paid as quickly as possible?

    Enter the CSO

    A large and experienced accounts receivable (AR) management company, such as CIT Commercial Services, can offer a multitude of solutions to potential payment problems. Not all companies, however, are equally responsive to your needs. At many firms, it may be tough to even get someone with a sympathetic and solution-oriented ear on the phone, much less have them come up with a speedy and satisfactory resolution.

    CIT Commercial Services offers vendors a simpler solution: one dedicated individual, a Client Services Officer (CSO), trained to quickly and smoothly resolve in most cases whatever payment issue that has come between you and your retailer.

    Each CIT Commercial Services CSO is a seasoned credit officer who knows not only their vendors, but many vendor's retail and wholesale buyers as well. The CSO is your retailer relationship point person, someone who is available to help you with prompt credit approvals, appropriate credit line set-up, late payment research, and generally to make sure the payment process moves as smoothly as possible.

    AR management companies such as CIT Commercial Services have established relationships with even the largest retailers that enable them to help you get paid faster. Finally, they have deep knowledge of retail creditworthiness, and they stand by that with credit protection services - if the retailer has a financial inability to pay, they will pay you on undisputed invoices.

    In other words, they have your back with the means and the methods to effectively support your business, and make sure you get paid.