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Product Substitution: How Savvy Retailers and Manufacturers can Build Supply Chain Resiliency, Reduce Costs and Improve Customer Experiences

Retail TouchPoints

Shipping delays and stockouts lead to frustration and disappointment, especially when logistical problems impact time-sensitive purchases, such as special occasion gifts, event tickets or prescription medications. In manufacturing, product substitution can be a valuable tool for optimizing inventory management.

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Harnessing the Potential of Returnless Refunds to Improve Profitability and Customer Experience

Retail TouchPoints

Retail’s busiest returns period may be in the rearview mirror until next year, but rising ecommerce order volumes have caused returns management to become an aspect of ecommerce and omnichannel business that warrants a dedicated year-round strategy. Returns are a major cost of doing retail business of any kind, but especially online.

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Retailers Increasingly Turning to Third-Party Resources to Handle Fulfillment

Retail TouchPoints

While more than half ( 54% ) of retailers responding to the 2023 Omnichannel and Fulfillment Benchmark Report said active physical stores are the final locations for inventory prior to delivery, retailers are increasingly using third-party services to handle the actual mechanics of picking, packing and delivering items to consumers.

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The Rise of Omnichannel Fulfillment: Dynamic Fulfillment Networks Create Opportunities for Brands

Retail TouchPoints

A Nielsen IQ Omnichannel Shopping Fundamentals Survey found that 61% of participants would like orders delivered as fast as possible, compared with 39% who indicated they would accept a slower delivery speed. online shoppers expect free two- to three-day shipping.”. Shipping everything via ground, which results in slow delivery times.

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7 Targeted Retail Strategies for Revenue Growth and Margin Improvement

Retail TouchPoints

The 2023 Omnichannel Retail Index demonstrates that understanding what customers value and using that information to build long-term customer relationships is essential for survival. Loyalty Beyond the Price Tag In our hyper-connected world with increasing distractions, retailers and brands struggle with high acquisition costs.

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A Guide to Omnichannel Commerce for International Expansion

ESW

To keep up with consumer demand, brands and retailers are facing pressure to implement omnichannel commerce strategies. Why focus on omnichannel? Eva Ponce , the director of the MIT Omnichannel Distribution Strategies Lab at the MIT Center for Transportation & Logistics. Because customers demand it.

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Why DTC Brands are Evolving from Disruptors into Omnichannel Players

Retail TouchPoints

DTC is still very much alive and well, but digital-first companies are having to adapt to a new normal where competition is fiercer, financial pressure is ever-present and the marketing tactics that used to work so well are no longer cost-efficient. I look at DTC ecommerce in three pillars,” added Nino.