ORIF 2022 - OLR Retail Gold Sponsorship
Organised in Estoril, a small town near Lisbon in Portugal, ORIF 2022 was undoubtedly a great comeback for in-person EMEA events, hosted by Oracle Retail. They certainly had a lot in store for us, keeping us busy with talks by Prada, Versace, Cape Union Mart and Zegna with amazing insights on how they have implemented Xstore or migrated to Oracle Merchandising Cloud.
Oracle has also revealed their new sustainability technology solution that would make it easier for retailers to execute their strategy; as well as many add-on features to enrich their technology ecosystem.
Top retail challenges: Economic Uncertainty, Changing Consumer Expectations, Supply Chain Demands, Expanded ESG Scope, People and Productivity.
““Stores have become a space for inspiration, interaction and online - for essentials.” ”
We couldn’t transcribe the whole forum but here are some interesting notes we took that we wanted to share with everyone who couldn’t make it.
In this economic uncertainty, consumers have become more tolerant.
Technology is crucial in being able to pivot and adjust to change at the speed retailers never had.
The complexity of exchange dictates the channel of transaction; online - being a channel for more complex transactions.
Returns are a growing challenge as reverse logistics cost and with the rise of returns is affecting the margin. The current rate of return: 17% US, 12% Europe.
If we need better outcomes in this environment we need a better technology and business architecture.
We are thankful to Oracle Retail for the partnership and looking forward to implementing new products and upgrades!
