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As Ecommerce Growth Continues, Retailers Turn ‘Steely-Eyed’ Gaze to Profitability

Retail TouchPoints

But now, even as consumers return to stores, they have come to expect those omnichannel conveniences, meaning retail executives must find a way to make them financially viable. We’ve gotten very good at optimizing, merchandising, understanding the ebb and flow and consumer demand in those physical stores.

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4 Ways Retailers can Leverage Generative AI to Drive Revenue and Productivity

Retail TouchPoints

Generative AI can dramatically improve customer experiences and drive revenue by helping shoppers find the products that most match attributes of what they’re looking for today, not just what they have purchased in the past. It leverages hyper-localized search combined with millions of product attributes to recommend products.

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WooCommerce Pricing: 7 Factors to Consider

SellBrite

Its popularity isn’t a surprise—the tool offers plenty of store customization features and is free to use. Although WooCommerce is free to use, there are additional costs and fees to running a store—which you might not realize until you’ve already spent a lot of time setting up your store. Free themes. Expect to spend : $0.

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How to Create Relevant Product Recommendations that Increase Sales

Omnisend

Have you ever received a product recommendation that just didn’t make sense? In ecommerce, you always want the message you send to be relevant to your customer. Personalization is key— over half of US consumers say they were more likely to purchase if their content is personalized. Reading Time: 8 minutes.

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Three Strategies to Employ in 2023 to Boost Retail Profitability in Spite of Inflation and Economic Uncertainty

Retail TouchPoints

Forrester predicts retailers, which are already facing operational and supply chain challenges, will react to the uncertainty in 2023 by shifting to managing rising costs by rolling back offers such as free returns or delivery, and investing in optimization technologies such as order management systems. Retail is already changing.

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Post-purchase Strategies to Turn One-Time Holiday Shoppers into Your Brand’s BFFs

lateshipment

To give you a little motivation, here are some of the benefits that you can stand to gain by increasing your customer retention rates. Cost-effectiveness: Retaining existing customers is significantly more cost-effective than acquiring new ones. For the e-commerce industry, the average NPS is 45.

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5 Ways Retailers Can Tackle Wavering Customer Loyalty

Retail TouchPoints

New research from PwC has found that three in 10 customers are more likely to try a new brand — and that number is even higher among younger consumers. But winning (and keeping) customers’ loyalty is no longer confined to programs and points. Collect and Leverage First-Party Data . Stand Out Beyond Free Shipping .