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Retailers: Leverage Customer Data to Navigate Lower Spending Due to Inflation

Retail TouchPoints

forcing retailers to grapple with remaining relevant to increasingly price-sensitive consumers. Illustrating the consumer response to the Fed’s activity, on June 15 the U.S. While retailers can do little to affect world events and macro inflation, they can make use of an often underused asset they already have: customer data.

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How to Improve Digital Privacy and Trust Between Consumers and Companies

Retail TouchPoints

is weighing national data privacy and security regulation to help companies keep up with the patchwork of state laws. Consumers are quickly losing trust, and companies must act swiftly and responsibly to restore it. This happens in an environment where consumer trust is already fragile. The tide is turning.

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What to Do Before Your Best Customer Ghosts You

Retail TouchPoints

The ghosting trend doesn’t just happen in romantic relationships — in an increasingly digital world, ghosting can just as likely take place at work or with an online retailer. The recent trend of “quiet quitting” can be looked at as another form of ghosting, as employees slowly begin ignoring their job responsibilities.

Customer 321
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Return-To-Office: Why Luxury Retailers Should Refresh Their Clienteling Strategies Along with Their Customers’ Work Wardrobes

Retail TouchPoints

While consumer spending might be slowing as a whole — the National Retail Federation’s most recent analysis showed the year-over-year increase in consumer spending dropping from 4.2% Retailers’ first move should be to assess current trends, and how well they align to office culture, so they can be used to drive recommendations.

Customer 278
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How Enterprise Modernization and Artificial Intelligence are Charting a New Course for the Consumer Industry

Retail TouchPoints

The latest Consumer Price Index (CPI) data highlights a significant deceleration in inflation, now standing at half of last year’s peak. In response to this unpredictable economic landscape, consumers have recalibrated their shopping habits, demanding businesses to exhibit a newfound agility and innovation.

Consumer 237
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NRF Big Show to Spotlight Innovative Consumer Products and Workforce Solutions

Retail TouchPoints

New to this year’s event is the Consumer Product Showcase , offering SMB brands the opportunity to show off innovative customer-facing products. Get the Skinny on 2023 Trends. Additionally, Lowe’s Marvin Ellison will be honored with the NRF 2023 Visionary Award. Taking place January 15-16 from 10 a.m.

Consumer 282
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Top 10 Retail Trends to Watch in 2024

RETAIL MANAGEMENT SOFTWARE

As we step into 2024, the retail sector is undergoing significant transformations in technology, supply chain dynamics, and consumer behavior. The initial crucial step involves examining current trends and formulating adaptive strategies. Here are the top innovative retail trends to watch in 2024.