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Preparing for the Rise in Online Retail Returns

Retail TouchPoints

In 2021, returns cost retailers a whopping $761 billion , or almost 17% of total U.S. retail sales. But the truth is that we live in an increasingly “instant gratification hustle culture,” where consumers know precisely what they want and have high expectations. Retailers can also create a return policy that avoids waste.

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Sensory Enabling Technologies are Radically Reshaping the Future of Digital Retail

Retail TouchPoints

Editor’s note: As retail interfaces and systems continue to evolve, the way we design retail experiences to user needs and behaviors is also transforming. For the past decade or so, big-name retailers have turned to designers and experiential agencies to create multisensory atmospheres in stores. virtual reality). 74% of U.S.

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What to Consider When Incorporating AI into Your Retail Business

Retail TouchPoints

Today, it is hard to imagine any sector where AI has yet to be deployed in some capacity, including, increasingly, retail, which has turned to AI for everything from streamlining the supply chain to personalizing shopping experiences. The potential utility of biometric data to retailers is wide-ranging.

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The Future of Retail is Multilingual

Retail TouchPoints

Recent estimates forecast that nearly a quarter of global retail sales will come from online channels by 2027, so the ability to serve a multilingual customer base will be essential for businesses seeking global success. This focus on CX isn’t just a passing trend but rather a fundamental shift in consumer behavior.

Retail 303
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How Retailers Can Use AI to Improve Customer Experience and Build Trust

Retail TouchPoints

trillion by 2027 – representing over 20% of overall retail sales. With the sector continuing to experience accelerated growth, major retailers are looking for ways to maintain and build trust while dramatically improving customer experience and orchestrating cohesive customer journeys. In the U.S.,

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Exploring Retail Revolution: The Correlation Between Technological Advancements In Financial Services And Online Retail Success

RTP blog

By Carter Hunt, Western Union Technological advancements in the financial services industry are evolving through complex tools like AI-powered analytics and voice-activated capabilities, offering added levels of insight and convenience. that a consumer’s average attention span as it relates to online activity is six seconds.

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Clean Data, Clean Planet: How Online Retailers can use Data Analytics to Reduce Their Carbon Footprint

Retail TouchPoints

The acceleration of the digital economy has led to technological innovation in many aspects of retail operations. New tools make data available to retailers like never before and are the linchpin to improving efficiencies, reducing waste, saving energy and assessing overall carbon footprint.