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7 Targeted Retail Strategies for Revenue Growth and Margin Improvement

Retail TouchPoints

This annual study of commerce trends benchmarks how 120 retailers and brands perform against more than 200 criteria across web, mobile, in-store and cross-channel experiences. Optimizing customer loyalty is essential for improving the lifetime value of current customers. She can be reached at kathy.kimple@osf.digital.

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Retailers Get Real with AI: Four AI-Powered Apps We’ll See this Year

Retail TouchPoints

We are past the point of conjecture about whether AI will upend the retail industry; it already has. In a recent study sponsored by Nvidia, 69% of retailers that used AI in 2023 reported that it increased revenues, and 72% said it reduced operating costs. Those early use cases make sense because they deliver immediate results.

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Shinola and Filson to Update In-Store Experience with Omnichannel Platform

Retail TouchPoints

Shinola and Filson will modernize their in-store experiences with mobile POS, order management and store inventory solutions from NewStore. By rolling out NewStore at Filson and Shinola, we will dramatically improve how shoppers interact with both businesses. Filson operates a total of 14 stores in the U.S., Canada and Japan.

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5G in Retail: Creating the WOW factor

Retail TouchPoints

5G can also connect mobile point-of-sale (POS) terminals , self-service kiosks, scan-and-go checkouts and other forms of frictionless shopping with ease. Delivery and stocking experiences: 5G can support massive IoT connectivity, which can be used to improve product tracking capabilities. Tractor Supply Co.

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Best Buy CEO Promises Enhanced Personalization, Physical Store Upgrades in FY2025

Retail TouchPoints

The retailer “will be removing physical media and updating our mobile, digital imaging, computing, tablets and smart home departments,” said Barry. “We These efforts and more will serve to increase membership engagement and continue to improve retention.” Best Buy closed 24 stores in FY 2024 and plans to close 10 to 15 in FY 2025.

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IoT in Retail: Top 5 Use Cases and Real-Life Examples

Retail TouchPoints

The statistics show that more and more retail businesses are implementing IoT solutions to explore new ways of connecting with customers, boost sales and streamline business operations. Example: Macy’s Macy’s stores brought their sales flow inventory to a new level with RFID tags. Predictive equipment maintenance.

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Top 10 Contactless Trends to Watch in 2022

Retail TouchPoints

Optimizing Customer Journeys Contactless technologies such as RFID and other Internet of Things (IoT) applications can dramatically improve inventory accuracy, a key element of optimizing customer journeys: “Most retailers are losing as many as 8.2 He noted that retailers offering a pickup locker option have 25% more satisfied customers.