Remove 2019 Remove Customer Data Remove Mobile Remove Omnichannel
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For Forever 21, Omnichannel Experiences are Key to Staying a Gen Z Favorite

Retail TouchPoints

Now owned by the SPARC Group (a joint venture between brand management firm Authentic Brands Group (ABG) and mall operator Simon Properties ), Forever 21 has spent the last few years refining its image and business model to avoid a repetition of its 2019 bankruptcy.

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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. In 2019, it declined to 6.7% In 2019, it declined to 6.7% This downturn persisted even as ecommerce evolved into a mobile-first business over the decade. Simply reviewing historical and present sales data won’t cut it.

Retail 245
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Top Ways Retailers Continue Evolving their Tech Stacks

Retail TouchPoints

Curbside pickup increased by more than 500% from the end of 2019 to August 2020. Offering omnichannel shopping experiences requires real-time updates and a tech stack that works together in the background to power each leg of the buyer’s journey. These options provide both safety and convenience for shoppers and retailers alike.

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Brands Need a Dedicated Balance Sheet for Customer Health

Retail TouchPoints

Focusing resources appropriately requires fluency in sophisticated customer analytics that can identify a brand’s most valuable customers, while also helping marketers understand the right target acquisition costs based on projected lifetime value.

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Webinar Recap: Taking The Pulse Of Marketers And Consumers To Navigate The Shift To Digital

Retail TouchPoints

Artificial intelligence (AI) is a critical component of successful digital and customer transformation. since the 2019 State of Marketing report. “It Mobile phones are still the number-one device for driving traffic, which requires retailers to embed “intelligent experiences throughout the journey, including checkout,” Schwartz noted.

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The Three Focus Points Of Advanced Personalization: What, Where, Who

Retail TouchPoints

But in the customer’s mind, they have one relationship with the retailer, not separate ones for every channel. That unified relationship needs to be consistent across all interactions, whether online, in-store, via email or on mobile. Retailers also must put the tools in place to continuously reengage with the customer.

eCommerce 194
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3 Winning Omnichannel Strategies for Unifying the In-Store and Online Shopping Experiences

Retail TouchPoints

However, there is some good news for brick-and-mortar retail and malls: Coresight Research recently reported that foot traffic at top-tier malls was up 12% on average in 2022 compared to pre-pandemic 2019 levels, while traffic at lower-tier malls was up 10%. With online purchases making up 15.1%