Overcome Retail Storage Space Challenges
Retail environments are constantly changing to adapt to buyer trends around new products and consumer preferences. Certain products may be hot for a few weeks, requiring retailers to purchase large amounts to keep up with demand, only to have those same products sit in piles in the backroom when buyers move on to the next big product. As such, retailers are often challenged with backroom storage issues around overstock and inventory. With personalized products and product variations on the rise, retailers are also faced with an increase of SKUs, which can make meeting the consumer’s expectation of quick delivery times a challenge.
According to McKinsey, online retail sales are growing 15% every year. As eCommerce gains momentum, retailers will also be required to store packing supplies in their space to fulfill orders or accommodate services like curbside pick up. To further complicate things, retail is rapidly morphing into an omnichannel model, with online orders, micro-fulfillment, and in-store pickup becoming a few of the fastest growing omnichannel ordering models, with growth of anywhere from 40% to 70%, depending on the product.
Relocating stores or renting new storage spaces is often a costly and impractical solution to overcoming these everyday challenges. Overfull retail space is often the result of inappropriate storage solutions for the needs of the business. Rather, implementing scalable, reconfigurable retail storage solutions that can adapt the building according to what the market needs is essential.