Retail TouchPoints

JANUARY 30, 2024

Generative AI (Gen AI) has brought about a seismic shift that’s reshaping customer interactions and business operations. As retailers ride the AI wave, it’s important to simultaneously address both the opportunities and responsibilities it brings. Here are six fundamental aspects of crafting a robust Gen AI strategy for businesses.

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Retail TouchPoints

APRIL 1, 2024

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. A crucial part of that positive CX is providing service in a customer’s native language.

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Retail TouchPoints

MARCH 5, 2024

These days, it seems like every major retailer has its own channel for serving ads, and advertisers are seizing this opportunity eagerly, to the tune of $114.4 It just takes understanding the building blocks of a retail media network (RMN) and what’s required to put them in place effectively. First-party customer data.

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RetailMinded

NOVEMBER 23, 2022

As a retailer, you likely already have a wealth of customer data. This data can include customer contact information, purchase history, and demographic information. In addition, analyzing customer data can help you to identify trends and anticipate future demand.

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retailnext

SEPTEMBER 24, 2019

In today’s world, collecting data and basing decisions on the calculated data is critical to success, especially in the retail market. Identifying purchase patterns and creating a customer database offers an array of other benefits including: Identifying opportunities. Gauge customer and purchase trends.

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Retail TouchPoints

FEBRUARY 15, 2023

Google Cloud and Accenture are expanding their strategic partnership with a series of new initiatives to help retailers modernize their businesses and transform store operations. Current customer Albertsons Cos. and all of those have a data and analytics element, which is what we’re helping them figure out.”

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Retail TouchPoints

AUGUST 1, 2023

How can retailers transform losses into profits? As a result, profitability is now a top priority for retail CEOs. Faced with shifting economic and consumer dynamics, retail leaders strive to unlock strategies that turn losses into profits. Despite the appeal and growth of ecommerce, retail profitability has been on a decline.

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Retail TouchPoints

MARCH 8, 2021

Using the data at their fingertips, retailers can capture a more in-depth view of customers’ lives, allowing them to better understand their wants and needs — and ultimately use that picture to create a service experience that incorporates both technology and humans.

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Retail TouchPoints

NOVEMBER 9, 2023

The holiday season presents a lucrative opportunity for online retailers to finish the year on a high note; however, various factors pose threats to online businesses. According to the IBM Cost of a Data Breach report , the global average cost of a data breach was $4.45 million, which is a 15% increase since 2020.

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Retail TouchPoints

JULY 10, 2023

The world of retail is getting ready for its iPhone moment using breakthrough generative AI technology. Startups including Fashable and Verneek are generating unique use cases of generative AI for retail. Global ecommerce sales, representing 22% of all retail sales, could increase to $5.4 And there’s plenty of money at stake.

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Groove

FEBRUARY 16, 2024

However, when retailers integrate HubSpot with their Shopify store, the benefits are even more pronounced. This unified view of customer data allows businesses to create targeted marketing campaigns, personalized communication, and more effective customer segmentation.

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365 Retail

JANUARY 18, 2024

The world of customer data is rapidly changing, and companies are responding with diverse strategies to stay ahead in this dynamic environment. The data foundation is behind the wall, and all the marketing and analytics tools get power from the foundation. Customer data should always be two things: reliable and repeatable.

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Retail TouchPoints

FEBRUARY 8, 2024

The digital marketplace solution from Intelligence Node — which is powered by generative AI and real-time data capture — generates comprehensive product listings and ratings for customers while also providing custom, data-rich insights to guide a company’s marketing strategies.

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Retail TouchPoints

FEBRUARY 28, 2023

Whether they’re choosing lower-cost private-label items at the grocery store, cutting back on discretionary apparel purchases or spending less on electronics, persistent price increases are top-of-mind for shoppers across all retail sectors. Seizing the Moment That opportunity lies in the retail loyalty program.

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Retail TouchPoints

MARCH 9, 2022

Disruptions to the supply chain, shifts in customer behavior, and even unexpected weather events are impacting retail sales across ecommerce and brick-and-mortar — changing where, when, how and why customers purchase. The rest are at risk of losing customer loyalty, brand affinity and revenue.

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Retail TouchPoints

JULY 5, 2022

Retailers’ attitudes about ecommerce have undergone a series of rapid evolutions over the last two years. We’re seeing a shift of focus in the retail environment,” explained Publicis Sapient Head of Retail Strategy for North America Hilding Anderson in an interview with Retail TouchPoints. “We UK, Germany and Australia.

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TalkingRetail

APRIL 15, 2021

The convenience sector needs to improve its use of data in order to compete with Amazon, which could be the 6th largest supermarket if current shoppers swapped just one grocery shop per month, new research indicates. This story continues at Convenience retailers need to improve their use of data.

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Retail TouchPoints

MAY 22, 2023

Tanger Outlets will deploy a customer engagement platform from Coniq to better empower its retail partners to deliver personalized and contextual offers to consumers. As Tanger continues its transformation, we believe omni experiences and customer data are critical to serve our retailers and guests alike.”

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Retail TouchPoints

MARCH 1, 2024

The retailer “will be removing physical media and updating our mobile, digital imaging, computing, tablets and smart home departments,” said Barry. “We The retailer added paid membership tiers to its program in May 2023 , and Barry reported that the two-tiered My Best Buy programs had 7 million members at the end of FY2024.

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Retail TouchPoints

JANUARY 11, 2021

Without question, the COVID-19 pandemic proved to be quite a disruptor for retailers, as in-store sales dropped and other options, like ecommerce and buy online, pick up in-store (BOPIS) surged. With that in mind, here are three predictions for retailers in the coming year. Real-time data is the key for 2021.

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Retail TouchPoints

AUGUST 10, 2022

Hurricane Season 2022 is underway, and with it comes the looming threat of outages and downtime for retailers. As we head into the peak of the season, retailers should review their disaster avoidance strategies as they seek to protect critical equipment and prevent downtime.

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Retail TouchPoints

NOVEMBER 12, 2020

Rillavoice speech analytics software is designed to enhance conversations between store associates and shoppers in physical retail settings. The tool seeks to help retailers capture much more customer data, and at a faster rate compared to surveys and mystery shoppers. including CCPA.

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Retail TouchPoints

NOVEMBER 11, 2021

Blueshift is expanding the journey orchestration of its AI-powered SmartHub Customer Data Platform (CDP) across all customer experience touch points, including support, commerce, sales, loyalty, product and other CX channels. Blueshift’s SmartHub CDP aims to merge the benefits of both CDPs and campaign management platforms.

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Wiser

AUGUST 28, 2023

A well-curated retail assortment bridges the gap between customer preferences and demand for the products offered, ensuring that each item in your inventory adds value to the customer and your business. Understand the demographics, psychographics, and buying behavior of your potential customers.

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RETAIL MANAGEMENT SOFTWARE

FEBRUARY 20, 2023

The retail industry is continuously evolving and adapting to new technologies and trends. 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.

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Retail TouchPoints

FEBRUARY 2, 2022

In fact, there’s no reason you should be missing dinner any night of the week to deal with the data dilemma when it comes to pricing. In my experience, the data is what keeps retailers from making the big jump to new pricing technologies and strategies. I don’t have all the data I know I should have, is that OK?

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Retail TouchPoints

DECEMBER 2, 2020

Retail Ecommerce Ventures (REV) has added Stein Mart to its growing portfolio of once-struggling brands relaunched as ecommerce properties. million , $2 million above its initial stalking horse bid , with plans to take the off-price retailer online in early 2021. REV has been on a retailer buying spree in the past year.

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Retail TouchPoints

APRIL 17, 2024

Enter generative AI (gen AI) — a beacon of hope illuminating the path forward for retailers navigating this new terrain. Many retailers grapple with insufficient product data. Here, gen AI intervenes, enriching catalogs and enabling a more comprehensive customer experience.

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RETAIL MANAGEMENT SOFTWARE

JANUARY 16, 2024

As we step into 2024, the retail sector is undergoing significant transformations in technology, supply chain dynamics, and consumer behavior. Navigating this shifting terrain requires a tailored approach rather than a universal solution for future-proofing retail businesses. Here are the top innovative retail trends to watch in 2024.

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Retail TouchPoints

JUNE 11, 2021

Now more than ever, retailers are looking for solutions to create more seamless in-person and digital customer experiences. Many stores, including retail giants Walmart, Target, Best Buy, DICK’S Sporting Goods and Urban Outfitters, introduced or expanded game-changing buy online, pick up in-store (BOPIS) capabilities in 2020.

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Retail TouchPoints

AUGUST 15, 2022

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. Despite their investments, there are a few gaps and opportunities for improvement.

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Retail TouchPoints

OCTOBER 8, 2020

GameStop plans to expand its physical and digital video game offerings as well as enhance its retail technology infrastructure through the deal. As part of the agreement, GameStop will standardize its solutions on Dynamics 365, Microsoft’s portfolio of cloud-based business applications and customer data platform.

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RetailMinded

MARCH 16, 2024

Struggling to keep up with the pace of modern retail? The retail landscape is evolving rapidly, and maintaining productivity can feel like chasing a moving target. Retailers are discovering that AI can do more than just data analysis. You’re not alone. Enter Artificial Intelligence (AI) – your new strategic partner.

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Retail TouchPoints

OCTOBER 25, 2023

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.

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RTP blog

JANUARY 17, 2018

Yet this past summer Walmart — the largest brick-and-mortar retailer in the world — announced its acquisition of Bonobos, indicating it may not be all “doom and gloom” for retail stores. of total retail sales — because though the physical store may not be going away, it is transforming.

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Retail TouchPoints

JUNE 9, 2023

Luxury retail brands are making sustainability a priority more than ever before. As luxury retail continues to move with the times, increasing sustainability is sure to become an even bigger part of their strategies for success going forward. Sustainability can be highly data-driven.

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Retail TouchPoints

JUNE 9, 2022

Using a combination of online and offline data sourced from across its organization, The Home Depot will offer product suggestions designed to help customers complete projects on which they are embarking. The Home Depot has demonstrated its focus on the customer journey through recent executive level appointments.

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