Nearly One-Third of Major Retailers Say the Pandemic’s Impact Will Be Permanent, According to Taulia
Following the unprecedented effects of COVID-19, retail businesses are focused on permanently shifting to online retail channels, according to Taulia, the leading fintech provider of working capital solutions. Taulia surveyed more than 50 of the largest retail businesses globally to understand the retail ecosystem’s current trends, sentiment, and views following the pandemic in a new research paper.
The research has found that nearly one-third of the largest global retailers believe the impact of the pandemic on their industry will be permanent. The study suggests that businesses must prioritize building out their online retail channels and investing in the digital technologies required to facilitate these channels.
The research also highlighted the various ways retail businesses have adapted, or plan to adapt, in response to the turbulent past 24 months:
- 90% of retailers believe online transactions will continue at their current levels or increase over the next few years
- 90% of retailers said that supplier retention was critically important to their business strategy
- Nearly 70% of retailers have used or plan to use Supply Chain Finance, Dynamic Discounting, and early payment to support suppliers with their financial requirements
- 60% of retailers plan to transform their procurement strategy in order to adapt to geopolitical and social factors
Alexander Mutter, Head of EMEA Sales at Taulia, commented: “The past twenty-four months have placed a huge strain on many retailers, whether that strain was caused by a sudden need to pivot to focus on digital retail or pressures impacting their supply chain. Our survey has highlighted that not only is the retail industry embracing the need to adapt and be flexible, but it is also finding the necessary support to do so. The retail industry’s actions are ensuring the global supply chain responds to difficulties rather than breaking under the strain.
“The use of financial tools and technology across the retail supply chain has been and will continue to be crucial in protecting and strengthening the global economy. Supplier relationships are core to this and financial tools such as Supply Chain Finance and Dynamic Discounting enable this relationship to provide financial flexibility and ensure business continuity.
Taulia’s white paper ‘A Paradigm Shift in Retail’ can be downloaded here: https://taulia.com/resources/whitepapers/trends-affecting-the-retail-industry/
Taulia is a fintech provider of working capital management solutions headquartered in San Francisco, California. Taulia helps companies access value tied up in their payables, receivables and inventory. A network of more than 2 million businesses use Taulia’s platform to determine when they want to pay and be paid. Taulia processes more than $500 billion each year and is trusted by the world’s largest companies including Airbus, AstraZeneca, Nissan and Vodafone.
For more information, please visit www.taulia.com
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Siemens Energy Consolidates its Forerunner Status With Fabasoft Approve Cross-plant Quality Management Software21.9.2021 15:03:00 CEST | Press release
Siemens Energy is using Fabasoft Approve as the process-driven quality management solution for its Power Transformer segment. The global rollout of Fabasoft Approve is scheduled for upwards of 3,000 users following the successful completion of pilot projects at the two largest transformer plants in Weiz (Austria) and Nuremberg (Germany). The challenge for Siemens Energy was to implement a cross-plant quality management tool in one network with 14 locations in eight countries and to digitally map its existing processes. Thanks to its wide range of customization options and high degree of usability, Fabasoft Approve made a convincing case in the multi-stage selection process and stood out as the high-performance platform of choice for computer-aided quality (CAQ) processes. The cloud-based solution offers comprehensive complaint management that can even be handled from a smartphone or tablet – for both in-house use and remote use at the customer’s site. Allocating the necessary immediate
Davos Alzheimer's Collaborative, World Economic Forum Announce Major Milestones in the Global Fight Against Alzheimer’s Disease21.9.2021 15:00:00 CEST | Press release
The Davos Alzheimer’s Collaborative (DAC) is a global multi-stakeholder partnership that is mobilizing the world against Alzheimer’s disease. DAC announced today it has nearly completed financing of its foundational phase and has launched several key initiatives to advance Alzheimer’s research, prevention and care to advance the fight against the disease. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210921005348/en/ A recent WHO report shows that Alzheimer’s and dementia impacted more than 55 million families worldwide and cost the global economy approximately US$1.3 trillion in 2019. This annual cost is expected to rise to $2.8 trillion by 2030, based on predicted increases in cases and the cost of care. By averaging these numbers to assume an approximate annual cost of $2 trillion through 2030, we estimate the disease will cost the global economy a cumulative $20 trillion over the next decade. Due to rapid gains in globa
Get Real Health Announces Further International Expansion to Bring Patient Engagement Tools Into The Netherlands21.9.2021 15:00:00 CEST | Press release
Get Real Health, a member of the CPSI (NASDAQ: CPSI) family of companies and a provider of comprehensive patient engagement tools, has expanded its international presence through an implementation in the region of Achterhoek, Netherlands, together with local partners MIJNPGO and WeDoTrust. This implementation is meant to support the region’s ambition to become the healthiest region in the Netherlands by 2030. To that end, the project will have timed implementations and deployments aimed at improving healthcare across all demographics. The Achterhoek solution is based on Get Real Health’s existing platform, and is customized for the region’s needs and called “MIJNPGO.” This customization effort includes ensuring compliance with Medmij, the technology standard across the Netherlands, which requires the secure exchange of data between care providers and patients. The initial pilot served a select cohort of care organizations including Sensire, the largest elderly care organization in the
Planview Introduces TeamTap, New Team-Level Innovation and Ideation Capability21.9.2021 15:00:00 CEST | Press release
Planview, a global leader in Portfolio Management and Work Management solutions, today introduced TeamTap – a new innovation and ideation capability for Planview Spigit, Planview’s innovation management software. Created to help accelerate an organization’s transformation efforts, this new capability allows companies to drive employee engagement, deliver value, and foster a culture of innovation within a single application. TeamTap offers a lean approach to innovation, supporting and aligning to Agile ways of working. “More so than typical enterprise innovation models, TeamTap promotes collaboration and ideation within teams, using their crowd to lean in and problem solve,” said Louise Allen, Chief Product Officer, Planview. “TeamTap enables team-focused innovation and empowers employees throughout an organization to voice opinions and play an active role in creative ideation, helping their companies uncover ideas, challenges and opportunities that exist within their team and operation
Kymeta Announces Grant of New U.S. Patent for Multi-Beam Capabilities Enabling Simultaneous Multi-Orbit Connectivity21.9.2021 15:00:00 CEST | Press release
Kymeta (www.kymetacorp.com), the communications company making mobile global, announced today that the United States Patent and Trademark Office awarded Kymeta Corporation a U.S. Patent for its multi-beam antenna configuration, enabling redundant, simultaneous, multi-orbit satellite connectivity. Kymeta’s innovative patented technology can generate two beams simultaneously with a single antenna panel, enabling the tracking of two satellites across multiple constellations and seamless traffic hand off from the initial satellite to the second. Kymeta’s metamaterials approach forms, receives, and transmits multiple distinct beams, each with its own receive/transmit (RX/TX) connection, for redundant connectivity and intelligent data management. “Kymeta remains focused on adding relevant IP to our extensive patent portfolio and technology roadmap,” said Ryan Stevenson, Ph.D., Vice President and Chief Scientist at Kymeta. “Our advanced technology will offer capabilities that are critical to
Zynga’s Magical Match-3 Mobile Game, Harry Potter: Puzzles & Spells, Celebrates One-Year Anniversary21.9.2021 15:00:00 CEST | Press release
Today, Zynga Inc. (Nasdaq: ZNGA), a global leader in interactive entertainment, announced that its magical Match-3 mobile game, Harry Potter: Puzzles & Spells, is marking its one-year anniversary with a full week of festivities. Kicking off today, fans around the world are invited to join the celebration with a seven-day slate of in-game gifts, events, sweepstakes and new content commemorating the occasion. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210921005079/en/ Zynga’s Magical Match-3 Mobile Game, Harry Potter: Puzzles & Spells, Celebrates One-Year Anniversary (Graphic: Business Wire) Since its launch in September 2020, Harry Potter: Puzzles & Spells has delighted fans with its authentic wizarding world puzzles and gameplay. With more than 2,000 puzzle levels in the main player journey, the game continues to invite players together to revel in the fun and excitement of Hogwarts with new content and events. Spotlight
Boehringer Ingelheim Acquires Abexxa Biologics to Further Expand its Research Efforts in Cancer Immunology and Novel Immunotherapeutic Approaches21.9.2021 14:00:00 CEST | Press release
Boehringer Ingelheim today announced the acquisition of Abexxa Biologics Inc., a biopharmaceutical company taking a new approach in the fields of immuno-oncology and oncology research to develop the next generation of precision medicines designed to revolutionize cancer treatments. The acquisition will allow Boehringer Ingelheim to access Abexxa’s expertise in targeting cancer-specific proteins that are located inside the cell, rather than those expressed on the cell membrane. This enlarges the pool of potential cancer antigen targets. In particular, Abexxa’s technology could lead to the development of cancer immunotherapies that are effective in a broader range of patients and cancer types. “The acquisition of Abexxa bolsters our commitment to tumor-antigen discovery and new ways of targeting intracellular antigens. Their cutting-edge know-how and technologies for antigen discovery and novel antibody generation strongly complement the current approaches we have been applying successfu