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Red Prairie: Over half of brands unprepared for product recalls
While the Internet is providing more sales opportunities every day for brands around the globe, it isn't helping in some other respects. New data out from Red Prairie indicates most brands aren't efficiently prepared for product recalls.
According to the Red Prairie data just over half of businesses would take 'days or weeks' (51.6%) to properly recall a product; 54.3% also say effecting a product recall would have repercussions on the rest of the business/product lines.
On the plus side, the Internet is making it easier for brands to be compliant in privacy and other consumer needs. Nearly 54% report they are 'fully compliant' - most credit technology with helping them move forward.
Meanwhile, data out from the US Department of Commerce finds retail sales dropped about 0.5% (June 2012, retail and food services), marking the third straight month retail sales were down; still retail sales for the month were up nearly 4% over 2011 numbers.
Mobile is one place consumers are going to buy more goods, according to IBM. Their data finds mobile sales increased by 15%; sales credited to social channels, however, saw a 20% decrease. This signals a need for retailers to be multi-channel and multi-platform, according to researchers.
"Shoppers today are shifting from a singular online approach to a multi-channel experience that includes both mobile and social media. As a result, retailers must be prepared to connect with their customers on all fronts, or lose them to the competition," said Craig Hayman, General Manager, IBM Industry Solutions.
Also of interest, IBM found that while overall sales were down, single-sale purchases continued to increase. The number of items per order increased 2.6% while shoppers spent about 2.3% more per purchase.
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