Sat.Jan 13, 2024 - Fri.Jan 19, 2024

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AI Isn’t Going Anywhere: How Retailers Plan to Deploy the Tech in 2024

Retail TouchPoints

Artificial intelligence dominated headlines and water cooler conversations in 2023, and 2024 is looking to be no different (if the conversations and showcases at CES and NRF’s Big Show are any indication). Within the larger global market, McKinsey estimates that the retail and CPG sectors have the most to gain from AI , with potential to harness the tech and drive huge improvements in operational efficiency as well as the customer and employee experience.

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Customer Buying Journey: How Shoppers Discover New Products | Salsify

Salsify

Brand discovery can happen at any moment. Consumers might be scrolling social media, searching the web, or walking down the high street when they come across a brand that meets their needs.

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Reddit Is a Marketing Goldmine

Practical eCommerce

Reddit posts reveal brand awareness, sentiment, and more. Increasingly they appear in Google search results. The post Reddit Is a Marketing Goldmine appeared first on Practical Ecommerce.

Marketing 105
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Industry experts respond to surprise uptick in inflation

TalkingRetail

Industry analysts have responded to the surprise inflation rise to 4% in December 2023, up from 3.9% in November, largely driven by rises in the price of cigarettes and alcohol.

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The B2B Digital Commerce Playbook for Manufacturers

In this comprehensive guide, we delve into four essential ecommerce strategies for manufacturers. Each strategy is backed by a clear vision to ensure your efforts are aligned. Whether you’re a seasoned industry player or a budding digitalization champion, these strategies offer actionable insights to drive success. What will you find in the guide: Overview of how current events and external pressures impact business priorities.

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Life Cycle Pricing: A Strategic Move for Your Business?

Wiser

Pricing plays a critical role in determining a product’s market position, sales growth, and profitability. A well-thought-out pricing strategy can be the difference between a product that flies off the shelves and one that lags behind. One such strategy that has gained traction for its effectiveness is life cycle pricing. Life cycle pricing is a dynamic approach that considers the various stages a product goes through, from introduction to the decline stage.

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The Rising Tide of Returns: Handling the Post-Holiday Surge  

ESW

After the rush of holiday revenue in November and December comes the rush of returns in January. The flood of post-holiday returns is a perennial headache for brands and retailers. The average return rate during non-peak seasons is a little over 16%. Post-holiday, that percentage jumps to 18%. But returns also present opportunities for online retailers and brands.

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The Incredible Growth of AI and Its Impact on Jobs

RetailWire

The remarkable development of AI is not without some serious repercussions. A recent analysis by the reputable International Monetary Fund (IMF) indicates that nearly 40% of all jobs could be impacted by AI.

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Consumer Buying Behavior: How Have Spending Habits Changed? | Salsify

Salsify

With new data from Salsify’s “2024 Consumer Research” report, explore 10 ways consumer buying behavior has changed and how your brand can adjust.

Consumer 121
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5 Profit Boosters from Repeat Buyers

Practical eCommerce

The long-term viability of most ecommerce shops requires folks who purchase more than once. The post 5 Profit Boosters from Repeat Buyers appeared first on Practical Ecommerce.

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High-Performance IT Continuously Improves Business Results Through Great Technology

Forrester eCommerce

Learn how to improve business performance by aligning the three core principles of the high-performance IT model with one of the four IT styles.

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The Personalization Playbook: 2024 Strategies

Did you know—74% of IT leaders are looking to improve their tech stack to offer better personalization? It’s impossible to ignore the importance of personalization, but it comes with challenges. How do you do it with a tight budget? What about customer privacy and the use of data? The Personalization Playbook is packed with research and insights from Orium, Talon.One, and Bloomreach and gives IT leaders answers to these tough questions, helping them shape 2024 strategies for personalization.

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Tech, Talent, and Partner Innovation is the Secret Sauce for Retailers to Stay Competitive

Retail TouchPoints

Put mildly, it has been a challenging few years for retailers. A historic pandemic with a double-whammy of supply chain and staffing issues as well as persistently high levels of inflation have up-ended a lot of industry norms and pushed consumers to increasing their scrutiny on where and how much they spend. Interestingly, coming off a summer spending spree, when credit card balances spiked in the third quarter to a $1.08 trillion record , we also just saw record-breaking spend online on Black

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513: Meet The Man Who Makes Millions Teaching Millennials About Money With Bobby Hoyt

My Wife Quit Her Job

Today, I’m thrilled to have my good friend and mastermind buddy Bobby Hoyt on the show. Bobby is the founder of Millennial Money Man, where he teaches millennials how to make and save more money. His blog has been featured in Lifehacker, Forbes, Market Watch, CNBC, US News, Business Insider and countless other publications. A couple listeners have recently emailed me asking me whether blogging is still a viable business model.

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fabric Launches Industry-First Commerce Platform With Native OMS, Supercharging Retailer Conversions And Outcomes

Fabric

The post fabric Launches Industry-First Commerce Platform With Native OMS, Supercharging Retailer Conversions And Outcomes appeared first on Headless E-Commerce Platform | fabric.

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Announcing The Continuous Automation Testing Services Providers, 2023 Landscape

Forrester eCommerce

Continuous Automation Testing: Now More Essential Than Ever The testing services market is significant and over four times larger than the market for testing products. Our estimation puts it at over $23 billion, showing growth from $21 billion in 2019, with a conservative annual growth rate of 2.5%.

Marketing 285
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Mapping Digital Transformation: Retail’s Strategic Shift

Speaker: Jennifer Wright, Michael Scholz, Jasmin Guthmann, and Scott Canney

Digital transformation in retail is so much more than new technology. You need to get your whole organization, from entry-level workers to executives, on board with the new tech, new skills, and culture changes that digital transformation brings. Leading this mindset shift can be a daunting task… but that’s where this webinar comes in! Join our panel of experts as they guide you through the challenges of digital transformation, preparing you to avoid common mistakes and make the most of incredib

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The Power of Play: Using Gamification to Elevate Retail Apps

Retail TouchPoints

Mobile apps have become a critical customer engagement channel for retailers as they try to create and capture more value for, and from, their customers. It’s no surprise that industry research and earnings reports consistently reveal customers with a brand’s app are three to four times more valuable than customers without the app. And the majority of retailers (74%) agree that investing in mobile apps is key to driving profitability.

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Navigating the Unpredictable: 3 Ecommerce Experimentation Predictions for 2024

Zmags

As we've begun the new year, the lessons of the past, shaped by the tumultuous events of 2023 and the preceding years, have left an indelible mark on the ecommerce landscape. It's now clear that predicting the future in this ever-evolving realm is a formidable challenge.

eCommerce 147
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Macy’s to cut 3.5% of its workforce, close 5 mall anchors

RetailDive

The moves come as Tony Spring prepares to take the reins from CEO Jeff Gennette, who said a year ago that store closures were mostly complete.

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CMOs Share A Toast To 2024

Forrester eCommerce

Last night I participated in Tinuiti’s Bold Predictions & Bold Wines, a fun way to learn about wines before holidays with the family while also discussing opportunities for CMOs in 2024. I learned some really great tips which are too good not to share: When it comes to measurement, listen, learn, and lean in.

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The Circular Product Journey: Powering a Sustainable, Data-Driven Future With PIM

The linear flow of make > use > dispose is unsustainable. Not only is it at odds with the realities of modern society, but it also fails to meet evolving demands from consumers and regulators. Linear is out. Circular is in. Going circular is not an overnight switch. It requires forward planning and data-driven decision-making. In this ebook, you’ll see how the right technology can help brands and manufacturers secure the product data governance they need to power this circular transition.

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FedEx CEO: ‘Our Mission is to Make Supply Chains Smarter for Everyone’

Retail TouchPoints

FedEx is known for the logistics scale and expertise it has developed over a half century in business. Just a few statistics tell the story: the company delivers 15 million packages every day in 220 countries and territories. What might be less well-known is FedEx’s scale and breadth of data: the company generates one petabyte of information daily — the equivalent of 20 million tall filing cabinets’ worth of information.

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Amazon Suspension: The Essential Guide to Avoiding and Recovering your Account

Algopix

Getting suspended from selling on Amazon can be devastating for your business. An Amazon suspension means you are temporarily blocked from selling and fulfilling orders on Amazon. It can happen unexpectedly and recovery can be difficult without the right guidance. This comprehensive guide will provide you with the knowledge needed to avoid suspension in the first place, as well as the steps to take if you find yourself suspended from the platform.

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Essential Knowledge for Streamlining Your Retail Store Audit Process

Wiser

A well-executed retail audit can reveal important data about the shelf, staff performance, and customer experience. This data can be instrumental in making informed decisions to drive your sales and enhance your brand reputation. However, harnessing and interpreting this data can be a challenge without the right tools and expertise. This is where Wiser’s Retail Intelligence can play a pivotal role.

Retail 104
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2023 Canada Net Promoter Score (NPS) Rankings: Industries Lose Gains Made in 2022

Forrester eCommerce

Forrester just published The Canada Net Promoter Rankings, 2023 report, which includes the Net Promoter Score℠ (NPS) and industry rank for 100 brands across nine industries.

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Predictions You Can Rely On: How Data Drives Successful Financial Forecasting

Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence

In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.

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The Reality of AI in Retail: Executives Break Down Opportunities, Challenges at NRF

Retail TouchPoints

The rumor that every NRF speaker was contractually obligated to mention artificial intelligence (AI) at least once per presentation is definitely untrue, but you’d be forgiven for thinking that was the case because AI worked its way into almost every conversation and presentation at the 2024 NRF Big Show. The ubiquitousness of the topic alone says something, and the themes and commentary that arose throughout the show say even more.

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The Darryl Makes Cookies Brand by Legendary Hip-Hop Icon From Run-DMC Is Here

RetailWire

A new confection has entered the market called "Darryl Makes Cookies," and it stands out with a positive message backed by one of the most legendary and iconic music artists of all time: Darryl McDaniels from Run-DMC.

Marketing 116
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‘It’s going to be a very tough year’: Casper CEO on the home goods market in 2024

RetailDive

The executive, along with Brooklinen CEO Billy May, discussed recent challenges in the sector and how to usher the brands into the next era of growth.

Marketing 118
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Tap into the potential of synthetic data for AIOps

Forrester eCommerce

AI/ML-driven solutions continue to expand for IT and digital operations. However, such solutions require access to data that may be difficult or impossible to access for model training purposes. Leveraging synthetic data will help with the critical time to realize AIOps value, such as powerful autoremediation capabilities and enhanced decision-making.

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Planning the Architecture of Your Modular DXP

Are you considering moving away from a monolith platform and over to composable architecture? Join experts from Google Cloud, GroupBy, and Orium as they discuss the benefits of moving to a modular digital experience platform. In this masterclass, uncover key indicators that show your brand is ready for a modular DXP, and learn how to lay the foundation for composable commerce.

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NRF Gen Z Panel: A Group Defined by its Contradictions

Retail TouchPoints

If you want to understand Gen Z (and that’s pretty important for any business that wants to grow), you have to understand the dichotomies that define this generation. To take just one pair of juxtaposing facts, Gen Z is indeed digital-first — but they do value the in-store experience, especially if the retailer can deliver “in-person experiences that can be differentiated by allowing for personalization and self-expression,” according to Lindy Li, Head of Customer Activation and Marketing at H&#

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Costco Trials Membership Verification Before Entry

RetailWire

Costco Wholesale is currently exploring new ways to ensure the exclusivity of its membership. The experiment involves scanning membership cards at the entrance of warehouses.

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Retailers to use AI for marketing, financial forecasting: survey

RetailDive

Major retailers and consumer packaged goods companies foresee their sales growing or remaining the same from last year, the report found.

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Lessons In Risk Management From NASA’s Space Security: Best Practices Guide

Forrester eCommerce

Securing technology is hard. It’s another challenge entirely when that technology operates off our planet. Space systems — a combination of ground systems, space vehicles, and networks designed to perform space-based tasks — are comprised of complex, interconnected technologies that require their own discipline of resilient engineering. And it depends on risk management.

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How Personalized Customer Experiences Drive Retail Growth and Revenue

Speaker: Shaunna Bruton - Associate Director of Product Strategy at Orium | Sam Panzer - Director of Industry Strategy at Talon.One | Frank Passantino - Director of Product Management at Bloomreach

More and more, customers are expecting a better personalized CX. But can retailers actually deliver? Data from McKinsey shows that companies that excel in personalization increase their revenue by 40%, but despite these numbers, retailers struggle to implement customer personalization strategies. So what are the potential solutions? Join us to gain a better understanding of the current retail landscape and learn what you can do to translate personalization strategies into practical implementatio