article thumbnail

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

Retail TouchPoints

75 percentage point increase — the largest since 1994 — to help tame inflation while (hopefully) not tipping the country into a recession. 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. 7% increase.

article thumbnail

10 Key Tips for Scaling Personalization in Retail

Retail TouchPoints

Creating a competitive advantage in personalization is based on a company’s ability to capture, analyze and use personalized customer data, as well as understand, customize and optimize the customer journey, all at scale. Unify customer data and insights: We know customer data is critical for personalization.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

ChatGPT in Retail – How Retailers Can Use ChatGPT to Enhance Customer Experience and Drive Sales

RETAIL MANAGEMENT SOFTWARE

And it generates natural language responses when receiving input from a user, making it potentially useful in a variety of business applications where a human-like conversation with customers is desirable. It can be used to answer customer questions, provide product information, and even assist in the purchase decision.

article thumbnail

Want to Have Great CX This Holiday Season? Focus on Employee Experience First

Retail TouchPoints

This is Part 1 of The Holiday Readiness Series , which will feature tactical tips and takeaways from experts that retailers can still apply to rev up their sales results. Looking for even more data and insights to power your approach ? Check out the Retail Strategy & Planning Series on-demand.

article thumbnail

7 Targeted Retail Strategies for Revenue Growth and Margin Improvement

Retail TouchPoints

In today’s challenging business landscape, where profit margins are shrinking, supply chains are slow and uncertain, labor shortages are prevalent and inflation is a concern, it is crucial for retailers and brands to differentiate between understanding customer habits and fostering customer loyalty in order to succeed.

article thumbnail

Expert reveals tips to thrive in retail as privacy laws tighten

365 Retail

To thrive in today’s fast-paced and dynamic retail environment, UK beauty retailers and CPGs must embrace the power of data and use it to bridge the gap between their customers’ needs and their business objectives. But one thing hasn’t changed: Customers still demand personalisation.

Retail 86
article thumbnail

8 Tips To Drive Repeat Business As A Retailer

RetailMinded

However, even though the retail industry is known for impulsive purchases, businesses are struggling to engage existing customers and encourage them to place repeat orders. In this post, we shall share the top 8 tips to encourage customers into making repeat purchases. Here are some tips to boost your retargeting ad conversions.