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Best Buy Shutters Up to 30 Larger Stores as it Shifts Omnichannel Operating Model

Retail TouchPoints

In July 2022, Best Buy introduced a small-format, digital-first store concept that builds on a pilot that started in 2021. billion in Q4 2022. The first location, a 5,000-square-foot shop in Monroe, N.C., Comparable sales fell 9.3% as overall revenue dropped to $14.7 billion , down from $16.4

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Retailers Increasingly Turning to Third-Party Resources to Handle Fulfillment

Retail TouchPoints

While more than half ( 54% ) of retailers responding to the 2023 Omnichannel and Fulfillment Benchmark Report said active physical stores are the final locations for inventory prior to delivery, retailers are increasingly using third-party services to handle the actual mechanics of picking, packing and delivering items to consumers.

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Omnichannel Retail Index Spotlights 4 Investment Areas

Retail TouchPoints

OSF Digital’s Digital Strategy team (formerly known as FitForCommerce) developed the 2022 Omnichannel Retail Index (ORI) to establish a benchmark for current practices and, most importantly, provide a set of actions and recommendations for the future. Loyalty programs. In 2019, retailers adopted only 57% of mobile best practices.

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7 Targeted Retail Strategies for Revenue Growth and Margin Improvement

Retail TouchPoints

The 2023 Omnichannel Retail Index demonstrates that understanding what customers value and using that information to build long-term customer relationships is essential for survival. Optimizing customer loyalty is essential for improving the lifetime value of current customers. Tip 4: Provide better product detail for customer ease.

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Aldi Plans 120 Store Openings in 2023 as it Continues Omnichannel Push in U.S.

Retail TouchPoints

The store growth builds on the 139 locations opened or remodeled in 2022 , which Aldi credited as contributing to the 9.4 The off-price grocer also has been expanding its omnichannel options through a partnership with DoorDash launched in February 2023. The additions will bring Aldi’s U.S. with an emphasis on the Southeast.

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Salesforce’s Top 5 Predictions for Holiday 2022

Retail TouchPoints

For the 2022 holiday season, the trillion-dollar question is how do brands and retailers maintain growth, but do it profitably with an omnichannel approach? Here are our five holiday shopping predictions to consider as you develop your strategy for the 2022 season. For retailers, 2022 is about playing the long game.

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#RSP22: Everything You Need to Know About Holiday 2022

Retail TouchPoints

The Retail TouchPoints 2022 Retail Strategy & Planning (#RSP22) webinar series, now available on-demand, offered a wealth of tips and best practices across critical areas including pricing, location-based technology, inventory management and marketplaces. Mastercard Spending Data Reveals 4 Key Takeaways for Holiday 2022.