Remove 2023 Remove Consumer Remove Omnichannel Remove Technology
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Omnichannel Retail Index Spotlights 4 Investment Areas

Retail TouchPoints

While consumer expectations have continuously shaped retailers’ strategies, tech choices and best practices, COVID-19 accelerated this rate of change. Where does that leave retailers today, especially as they develop their holiday plans and finalize their budgets for 2023? The result? Loyalty programs.

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The Top 5 Retail Remix Episodes of 2023

Retail TouchPoints

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 261
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Want to Win the Consumer in 2023? Start with Trust, Especially when it comes to ESG

Retail TouchPoints

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 268
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Best Buy Shutters Up to 30 Larger Stores as it Shifts Omnichannel Operating Model

Retail TouchPoints

Changing consumer behavior also has led to the tech retailer to reduce its overall head count by approximately 25,000 people, or 20% of its workforce, over the past three years. Best Buy’s overall Q4 2023 results reflected a difficult economic climate. The first location, a 5,000-square-foot shop in Monroe, N.C., billion in Q4 2022.

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How a Reactive Omnichannel Strategy can Help you Capitalize on Reactive Buying Trends

Retail TouchPoints

Whether it was inspiration from this “summer of sport” or keeping up with the ever-changing weather, the increasing unpredictability of consumers’ shopping habits was on display this summer. The cost-of-living crisis is undoubtedly driving buying decisions, so simplifying the consumer journey is essential for closing the sale.

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Amazon Extends Just Walk Out Technology to Apparel and Fan Gear with RFID

Retail TouchPoints

Amazon has incorporated RFID capabilities into its Just Walk Out cashierless technology to handle the sale of apparel and fan gear at two Seattle sports venues. Eight of our concessions locations are already using Just Walk Out technology and seeing great results.

Apparel 276
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Sensory Enabling Technologies are Radically Reshaping the Future of Digital Retail

Retail TouchPoints

Today, it is possible to stimulate all consumer senses online. Sensory Enabling Technologies (SETs) enable consumers to feel textures, smell and even perceive the taste of a product. Key takeaways: SETs enable brands to craft exemplary customer experiences online by appealing to consumers’ multisensory perception.