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How to Improve Digital Privacy and Trust Between Consumers and Companies

Retail TouchPoints

is weighing national data privacy and security regulation to help companies keep up with the patchwork of state laws. Consumers are quickly losing trust, and companies must act swiftly and responsibly to restore it. This happens in an environment where consumer trust is already fragile. It doesn’t have to be this way.

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5 Customer Data Management Dangers and how to Improve Your Overall Policy

Retail TouchPoints

Here are five customer data management dangers that can happen when you incorrectly store, manage and process data. Plus, we will go over how to improve your overall policy. 5 Customer Data Dangers. Here are five customer data dangers and how to avoid them. Multiple data storage channels.

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Retailers: Leverage Customer Data to Navigate Lower Spending Due to Inflation

Retail TouchPoints

forcing retailers to grapple with remaining relevant to increasingly price-sensitive consumers. Illustrating the consumer response to the Fed’s activity, on June 15 the U.S. While retailers can do little to affect world events and macro inflation, they can make use of an often underused asset they already have: customer data.

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How Retailers can use Digital Product Strategy to Improve CX and Fuel Growth

Retail TouchPoints

Since the pandemic, seven in 10 consumers have used mobile devices and apps for shopping, and it’s not just millennials and Gen Z; Gen X and baby boomers are 68% and 56% more likely, respectively, to use their mobile device to make purchases than they were a few years ago.

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Personalization that Consumers Expect Post-Pandemic

Retail TouchPoints

Personalization is now a hygiene and customers have come to expect it regardless. Source: McKinsey However, personalization is no longer limited to targeted offers in the current landscape; it now covers the entire customer journey. Customers’ data trails can help retailers access preferences, past orders and history.

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3 Ways to Use Data to Improve In-Store Experiences

Retail TouchPoints

Retailers have access to troves of data: data about their customers, their products and their business. But despite earnest proclamations that consumers expect seamless brand experiences, these data and the insights they generate are resting in disparate systems and used by siloed teams.

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7 Targeted Retail Strategies for Revenue Growth and Margin Improvement

Retail TouchPoints

Building a relationship beyond just transactions will prevent customers from purchasing based solely on discounts, which can ultimately hurt a retailer’s bottom line. Companies with loyal customers understand their customers’ needs and deliver personalized experiences. Tip 6: Allow customers to shop where they are.