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Why Uncommon Corporate Partnerships are a Must in 2024 (and How to Make Them a Reality)

Retail TouchPoints

Despite Tightening Wallets, Select Brands Flourish As spend growth softened in the second half of 2023 across discretionary categories and companies geared toward more price-conscious consumers flourished, opportunities presented themselves for brands that kept an open mind. However, not all customers behave the same.

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Half Price Books Implements New Solution to Tie Digital Ads to Store Traffic

Retail TouchPoints

The retailer will tap into Reveal’s Visit Local solution to measure incrementality from paid social and programmatic campaigns, create and activate custom audiences based on places consumers shop and understand store-level analytics such as visitor volume, frequency and competitive analysis. ”

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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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Salesforce Predicts Just 1% YoY Online Sales Growth for U.S. Holiday Season

Retail TouchPoints

billion consumers worldwide. For the back-to-school season, 42% of consumers say they are spending more, but 57% are trading down for lower prices,” said Caila Schwartz, Director of Consumer Insights and Strategy for Retail and Consumer Goods at Salesforce during an Aug. trillion in online sales. 22, 2023 briefing.

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The Future of Retail and AI

Retail TouchPoints

Namely, the conversations focus on how traditional brick-and-mortar stores can incorporate AI into their operations as more and more fully autonomous stores pop up around the world. Simultaneously, data and analytics were at the forefront of retailers’ minds as stores sought to anticipate their consumers’ needs.

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3 Predictions for the Future of Omnichannel 

Retail TouchPoints

As consumers have turned to more sources to shop, retailers have diversified their commerce and marketing strategies. Prediction 1: Retailers will continue to balance customer acquisition and retention. At the same time, they will build out more robust retention toolkits that represent the diverse behaviors of consumers.

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Bed Bath & Beyond to Close 150 Stores, Cut 20% of Workforce

Retail TouchPoints

On the strategic front, the retailer is moving away from its private label strategy in favor of “popular national brands and new, emerging direct-to-consumer brands,” according to a statement. The retailer plans to leverage its recently introduced cross-banner Welcome Rewards loyalty program to drive traffic, sales and customer retention.