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Turning Retail Losses into Profits

Retail TouchPoints

A critical area of focus is transforming their business into more profitable omnichannel platforms. Since 2012, the median EBITDA for publicly traded retailers was 9.8%, according to Deloitte. Faced with shifting economic and consumer dynamics, retail leaders strive to unlock strategies that turn losses into profits.

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Scarred by the 2008 Recession and COVID, 48% of Gen Z Frequently Shops at Discount Stores

Retail TouchPoints

That sense of unease is to be expected from a cohort shaped by both the 2008-2009 Great Recession and the COVID pandemic, and it’s had a big impact on their shopping choices: nearly half ( 48% ) say they shop the most often at discount/off-price retailers, and 25% frequently patronize dollar stores.

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Retail’s New Normal: Here’s What Retailers Should Focus On As The Country Continues To Reopen

Retail TouchPoints

To quickly adapt to this change, retailers can deploy different strategies, such as drop-shipping to get their items direct-to-consumer and take back control over delivery timeframes, ensure transparency throughout the process and still deliver a great customer experience.

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Casper CEO’s Roadmap to Profitability: Control Costs, Expand Wholesale and Cater to Customers

Retail TouchPoints

So in 2012 we rebuilt, top to bottom, the entire company so we could replenish stores and ship to the customer from the same inventory pool. We were one of the first six or seven companies to do buy online, ship from store. That’s all table stakes now, but that’s the nature of disruption.

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5 reasons CMOs should care about their commerce architecture

GetElastic

Is it available, if it is backordered, how soon will the customers have it, can it be shipped to store, can the store fulfill in-house? Inaccurate inventory can mean lost sales, increased RMA costs and frustrated customers left holding empty shopping bags they thought held the item they wanted.

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The hybrid customer experience may be the key to your eCommerce success

GetElastic

Their account information can be accessed by in-store representatives or pulled up on different devices, and shoppers can hunt for product data such as pricing or in-store availability. Make any touchpoint transactional and build unique commerce experiences catered to your brand with an Omnichannel approach. Read the Guide.

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The hybrid customer experience may be the key to your eCommerce success

GetElastic

Their account information can be accessed by in-store representatives or pulled up on different devices, and shoppers can hunt for product data such as pricing or in-store availability. Make any touchpoint transactional and build unique commerce experiences catered to your brand with an Omnichannel approach. Read the Guide.