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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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3 Predictions for the Future of Omnichannel 

Retail TouchPoints

In fact, Retail TouchPoints has seen the number of channels used to conduct business grow year after year in its annual Omnichannel and Fulfillment Benchmark Survey. In 2021, retailers shaped their omnichannel strategies around two key issues: customer acquisition ( 63% ) and customer retention ( 58% ).

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Wayfair Launches In-Store Immersive Virtual Room Creation Technology

Retail TouchPoints

Wayfair has launched the Digital Design Studio, a patent-pending technology that aims to bring the best of online and in-store shopping together. The technology will debut at the Dedham, Mass. ” The technology could help Wayfair on its path to profitability, though the retailer still has some work to do. billion , down 7.3%

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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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Predictions 2022: Anywhere-Commerce Will Unlock Massive Investments In Technology

Forrester eCommerce

In 2022, “anywhere commerce” will be the mantra as brands invest in tech to meet buyers in every possible shopping moment.

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Macy’s Launches Personalized Bra Fitting Technology in 10 Locations

Retail TouchPoints

Macy’s customers work with an associate to complete a private body scan with a device equipped with light detection and ranging (LiDAR) technology, which yields anonymized avatars. The process also will provide data analytics to the retailer and the brands, allowing them to better serve customers.

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Steve Madden Upgrades OMS to Strengthen Omnichannel Offerings

Retail TouchPoints

has fortified its omnichannel functionalities with same-day BOPIS, ship-from-store and pre-order offerings, deploying a new order management system (OMS) from HotWax Commerce. We are thrilled to be working with the Steve Madden team on their omnichannel journey,” said Anil Patel, CEO of HotWax Commerce in a statement. “We