Retail TouchPoints

APRIL 10, 2024

Since 2020, the global economy has sat on pins and needles as the fallout from COVID-19 rippled through 2021, 2022 and 2023. But the resilience of the American consumer prevented an all-out economic disaster. Time and time again, consumers kept the economy chugging along despite the bleak forecasts from leading economists.

Customer Loyalty 234

Customer Loyalty Payment Services Customer Consumer 234

Forrester eCommerce

DECEMBER 29, 2023

New analyses from Forrester's Customer Experience Benchmark Study reveals subdued customer advocacy continues in 2023 as fewer brands have significant improvements and more brands have significant drops in Net Promoter Score℠ (NPS) compared to 2022.

Improvements 242

Improvements Customer Experience Customer Customer Loyalty 242

Forrester eCommerce

JANUARY 23, 2023

In 2023, Empowered Customers Are Engaging Differently With Brands In 2016, we introduced Forrester’s Empowered Customer Segmentation, based on consumer behavior we’ve been monitoring and analyzing since the 1997 launch of Forrester Analytics’ Consumer Technographics® survey data.

Customer 360

Customer Consumer 360

Retail TouchPoints

FEBRUARY 26, 2024

Consumers are quickly losing trust, and companies must act swiftly and responsibly to restore it. A Pew Research study reveals a concerning trend: 67% of consumers have little understanding of what companies do with their data, a sentiment echoed by an IAPP study which found that only 29% feel informed about how their data is protected.

Improvements 299

Improvements Payment Services Consumer Banking 299

Forrester eCommerce

NOVEMBER 7, 2023

Here's a sneak peak on how US consumers plan to shop this winter holiday season.

Consumer 365

Consumer B2C Retail Customer 365

Retail TouchPoints

MARCH 30, 2023

The National Retail Federation (NRF) expects retail sales to grow from 4% to 6% in 2023, reaching between $5.13 trillion for the year, according to data released at the State of Retail & the Consumer virtual event. trillion and $5.23 The NRF expects non-store and online sales to grow 10% to 12% , to between $1.41 trillion and $1.43

Consumer 255

Consumer Omnichannel Travel Events 255

Retail TouchPoints

SEPTEMBER 1, 2023

Although Placer.ai’s quarterly index for Q2 2023 found that store traffic for discount and dollar stores were up 4.7% year over year, Dollar General CEO Jeff Owen revealed that the company was “not satisfied” with overall financial results for its Q2, which ended August 3, 2023. Dollar General reported a net sales increase of 3.9%

Operations 236

Operations Apparel Supplies Improvements 236

Forrester eCommerce

OCTOBER 24, 2023

Despite diminishing pandemic-related excess savings, rising interest rates, and the resumption of student loan payments, US retail sales will continue their growth in the 2023 holiday season. Read more of Forrester Principal Forecast Analyst, Jitender Miglani's insight in this blog.

Retail 403

Retail Blog Online Retail Consumer 403

Retail TouchPoints

DECEMBER 20, 2023

The top five episodes of 2023 reaffirm some of the most trending topics we covered on Retail TouchPoints over the past year, illustrating how rapidly the industry (and the customer experience) have evolved. Why it Matters: In 2023, we saw employee turnover reach record highs. Let’s begin the countdown… 5.

Retail 229

Retail Supplies Merchant Services Social Media 229

Wiser

JULY 18, 2023

Customer behavior is constantly changing and evolving, making it essential for brands and retailers to keep up with the latest trends. Factors That Could Influence Consumer Spending Part of developing a successful holiday sales strategy includes forecasting the upcoming season.

Food and Beverages 148

Food and Beverages Consumer Supplies Events 148

Retail TouchPoints

JANUARY 6, 2023

consumers reported that they experienced a worsening economic situation over the past year, and members of this group said it would take time for their concerns to subside even as economic stressors abate, according to Deloitte’s Global State of the Consumer Tracker. Unfortunately, history isn’t providing retailers with much guidance.

Retail 319

Retail Payment Services Consumer Management 319

Retail TouchPoints

DECEMBER 27, 2023

Returns totaled $743 billion in 2023, amounting to 14.5% As is typically the case, online sales saw a higher return rate in 2023 at 17.6% Because of this change in methodology, 2023 numbers cannot be compared to NRF’s 2022 returns report , where returns were measured at 16.5% The 2023 numbers were released on Dec.

Retail 269

Retail Channel Customer Consumer 269

Retail TouchPoints

FEBRUARY 24, 2023

Spurred by the global pandemic, a rise in social activism and the surge of wellness movements, consumer sentiment has shifted significantly over the past few years. Nearly all (93%) consumers surveyed in PwC’s most recent Holiday Outlook shared that trust is a top influencer in their buying decisions. Pre-pandemic, that number was 70%.

Consumer 225

Consumer Social Media Recommendation Apparel 225

Retail TouchPoints

MARCH 6, 2024

Common missteps that mismanage customer expectations include inaccurate online product descriptions, low-quality images, lack of inventory visibility or accuracy and inadequate sizing details. This approach — where customers are refunded without being required to return an unwanted item — has its place, but it’s not a blanket solution.

Customer Experience 252

Customer Experience Shipping Costs eCommerce Improvements 252

Retail TouchPoints

NOVEMBER 13, 2023

However, consumers are still spending, the labor market remains tight, and the Adobe Digital Price Index recently posted an overall 40-month low, an encouraging sign for online shoppers: Adobe reported that online prices fell for 11 out of 18 tracked product categories on an annual basis. But there are possible headwinds on the horizon.

Consumer 290

Consumer Merchant Services Sporting Goods eCommerce 290

Retail TouchPoints

JANUARY 12, 2023

15-17, 2023 and featuring more than 950 exhibitors and 100 educational sessions. Additionally, Lowe’s Marvin Ellison will be honored with the NRF 2023 Visionary Award. New to this year’s event is the Consumer Product Showcase , offering SMB brands the opportunity to show off innovative customer-facing products.

Consumer 262

Consumer Food and Beverages Beauty and Health Toys 262

Retail TouchPoints

AUGUST 8, 2023

billion digital shoppers in the first half of 2023, with 33% of the globe now considered an online shopper. Right now, retailers are selfishly positioning their customer journey to benefit their marketing efforts, not the end consumer. Ditch the Redirects The consumer path to purchase has undoubtably changed. Here’s why.

Customer 213

Customer Social Media eCommerce Consumer 213

Retail TouchPoints

FEBRUARY 17, 2023

Success in the new retail landscape in 2023 requires many of the characteristics of a winning sports team. The “coach” or CEO develops a road map or game plan to achieve the goal, which in retail is providing the ultimate customer experience, every day of the year. Winning teams begin with an end in mind. and it is working.

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Games Social Media Retail Outdoor 254

Retail TouchPoints

DECEMBER 2, 2022

Dollar General is continuing its rapid expansion into fiscal 2023 with plans for 1,050 new stores, following a successful Q3 2022 when sales rose 11.1% The quarter, which ended Oct. 28, also saw a 6.8% increase in same-store sales driven by larger basket sizes and a small increase in traffic. “We

Operations 304

Operations Consumer Retail Other 304

Forrester eCommerce

JUNE 6, 2023

As has been the trend in recent years, the Apple World Wide Developer Conference (WWDC 2023) keynote has kept its focus centered on consumers — read about that here.

Mobile 195

Mobile Management Consumer Technology 195

Forrester eCommerce

MARCH 13, 2023

The customer lifecycle. Today’s consumers thrive on novelty, embrace emerging technologies, and expect more from brands. As both consumers and businesses race forward, […] Until now, business leaders could count on the inevitability of all three. But no longer.

Customer 195

Customer Technology Consumer Customer Experience 195

Forrester eCommerce

JULY 12, 2023

In a tough economy, where privacy legislation and technology changes make qualitative consumer data increasingly difficult to access, B2C marketers are struggling to adapt their data strategies for deeper customer understanding and develop AI capabilities to personalize experiences.

B2C 332

B2C Marketing Technology Consumer 332

ESW

JUNE 23, 2023

And as the number of ecommerce consumers continues to grow, new markets and segments are emerging along with it. But keeping up with consumer behaviour around the world can be overwhelming for even the biggest ecommerce brands. So what should ecommerce brands know about consumer behaviour in 2023?

Consumer 78

Consumer eCommerce Payment Services Shipping Costs 78

Wiser

DECEMBER 20, 2023

Analyzing the holiday retail trends of 2023 can illuminate the path forward for brands and retailers and clarify the steps they need to take to stay competitive. Data can help identify the promotional strategies that resonated with consumers, the products that flew off the virtual shelves, and the ones that didn’t.

Retail 147

Retail Shipping Costs Leisure Gifts 147

Retail TouchPoints

AUGUST 11, 2023

New research from Capterra finds that tip fatigue — exhaustion caused by the pressure to tip more money to a widening array of workers — is a serious problem affecting most consumers who use checkout tablets at restaurants and other businesses. This should give pause to any business that uses checkout tablets.

Consumer 184

Consumer Payment Services Point of Sale POS 184

Retail TouchPoints

JANUARY 24, 2023

The event also gives us business editors the chance to suss out the major trends that retail decision-makers will be grappling with in 2023. Economic headwinds are likely to blow harder when consumers’ savings from the pandemic dwindle, which a Charles Schwab analyst believes could happen by Q3. The NRF Big Show , held in NYC Jan.

Food and Beverages 268

Food and Beverages BigCommerce Home Furnishings PayPal 268

Retail TouchPoints

MAY 22, 2023

Tanger Outlets will deploy a customer engagement platform from Coniq to better empower its retail partners to deliver personalized and contextual offers to consumers. As Tanger continues its transformation, we believe omni experiences and customer data are critical to serve our retailers and guests alike.”

Customer 274

Customer Customer Experience Customer Data Improvements 274

Retail TouchPoints

OCTOBER 25, 2023

GNC is expanding its virtual healthcare service, GNC Health , to offer low cost and convenient care to customers. The health and wellness retailer initially rolled out free healthcare services to members of its paid loyalty program, GNC Pro Access, in June 2023. month for individuals, $29.99/month month and $59.99/month

Customer 231

Customer Shipping Costs Shipping Consumer 231

Dynamic Action

JUNE 27, 2023

Summary Retailers must shift from a product-first to a customer-centric strategy to foster long term loyalty and brand advocacy. Customer expectations and demands are skyhigh, meaning efforts must move beyond marketing towards data-backed decisions to offer a truly personalized experience. What is Customer-Centricity?

Consumer 62

Consumer Customer Retail Customer Loyalty 62

Retail TouchPoints

JANUARY 31, 2024

We’ve all heard that today’s empowered consumer demands seamless and consistent experiences, but new research from CI&T indicates that these expectations are higher than ever. consumers of all ages, races and genders, as well as an assessment of digital retail strategies across various product categories.

Shipping Costs 247

Shipping Costs Consumer Mobile Channel 247

Retail TouchPoints

APRIL 3, 2024

Joyleaf, which opened in late 2023, is organized and merchandised by type of product rather than by brand: all the edibles, for example, are grouped together as a category, as they would be in a supermarket. Ackerman: When I was researching this industry, one thing I noted was that cannabis consumers are different across the country.

Customer 214

Customer Retail Information Operations 214

Retail TouchPoints

JANUARY 18, 2023

Microsoft will trim its workforce by 10,000 people, or approximately 5% of its total employees, according to a January 18, 2023 SEC filing. The reductions will take place during the company’s fiscal 2023 Q3, which runs to the end of March 2023. The tech giant will take a $1.2

Shopify 261

Shopify Technology Blog Other 261

Retail TouchPoints

DECEMBER 6, 2023

But, while they continued to make headlines in 2023, marketplaces themselves were no longer the hot commodity this year , marketplace sellers were. Not to mention, those particular platforms are more competitive [when it comes to capturing consumer attention]. There’s fulfillment costs and advertising costs.

Merchant Services 247

Merchant Services eCommerce Operations Games 247

Forrester eCommerce

NOVEMBER 7, 2023

Read Forrester’s high-level takeaways from OpenAI’s first developer conference in November 2023.

Consumer 382

Consumer Customer 382

Retail TouchPoints

FEBRUARY 7, 2023

It was amazing to be back in NYC for NRF 2023, and this year’s event did not disappoint. This remains a $50 million to $100 million opportunity for most $5B+ retailers in 2023, and too few non-grocers are pursuing it as a solution. This is the first step toward a reimagining of the physical store.

Retail 245

Retail POS Apparel Department Stores 245