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Six Principles for Redefining Retail with Responsible AI

Retail TouchPoints

Generative AI (Gen AI) has brought about a seismic shift that’s reshaping customer interactions and business operations. The role of such a committee — consisting of individuals from different departments and backgrounds — extends from supply chain management to customer interaction.

Retail 338
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CIO Q&A: Lessons and Priorities from Aldo Group’s Companywide Digital Transformation

Retail TouchPoints

Customer-focused digital transformation is important for any retail business, but the pandemic-induced volatility and fast pace of change in the industry means that such transformations need to occur in all areas of the enterprise, from product design to planning and supply chain. This is not just a matter of compliance, but of trust.

Supplies 256
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AI Isn’t Going Anywhere: How Retailers Plan to Deploy the Tech in 2024

Retail TouchPoints

Within the larger global market, McKinsey estimates that the retail and CPG sectors have the most to gain from AI , with potential to harness the tech and drive huge improvements in operational efficiency as well as the customer and employee experience.

Retail 312
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How Natori Used AI to Sharpen Retargeting and Achieve a 943% ROAS

Retail TouchPoints

Retargeting existing customers to boost conversions has always been a strong tactic for retailers, and it’s likely to become even more important as third-party cookies deprecate and more stringent privacy regulations go into effect. We also get end-to-end accountability in the supply chain.”

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From Aisles to Algorithms: How Small and Medium Retailers Can Leverage AI

Retail TouchPoints

Walmart uses it to analyze what customers are buying and adjust inventories and supply chains automatically. Companies should closely monitor AI bias, inaccuracy, cybersecurity, job displacement and data privacy. The technology can also enable retailers to optimize their end-to-end operations, manage pricing and organize logistics.

Retail 281
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2024 Predictions and Trends in B2B Ecommerce: Navigating the Digital Evolution

Retail TouchPoints

Despite expectations of a modest economic downturn, this period presents an opportunity for businesses to optimize their operations, improve marketing strategies and enhance their technological infrastructure. Additionally, maintaining ethical data usage and ensuring customer privacy will be vital in these AI deployments.

B2B 254
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Study: Why AOV Has Ousted CLV as Ecommerce Executives’ Most Valuable Metric

Retail TouchPoints

The past two years have seen a rapid evolution of retailers’ digital operations, and perhaps more importantly led to a dramatic shift in the role that ecommerce plays in the overall shopping experience. That, combined with more stringent data privacy regulations, has made data collection and enrichment a top investment priority for 2022.

eCommerce 299