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

Retail TouchPoints

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. But many of these tasks may just represent the low-hanging AI fruit.

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Different Things to Consider Outsourcing in Your Retail Business (and Why)

Retail Focus

Order Fulfillment When outsourcing, retailers can benefit from streamlined inventory management, order processing, and shipping. Digital Marketing and SEO To thrive in a competitive retail landscape, your business needs a strong online presence.

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How Edge Computing Enables the Retail Store of the Future

Retail TouchPoints

Retailers cited rising costs, declining consumer spending and supply chain volatility as their top concerns. The survey also found that less than 13% of retail organizations are investing in technology to tackle these challenges, instead remaining focused on short-term fixes like increasing prices and running marketing campaigns.

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Key Takeaways from the Wiser Industry Leaders Brand Panel: Challenges and Adaptations

Wiser

Panelists highlighted the frustration with labor scarcity in an environment where consumer demands and expectations are constantly evolving. With so many tasks and not enough hands, businesses are turning to third-party services to fill the gap, often leading to additional costs and higher prices for consumers.

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The Rise of AI in Retail: Transforming the Industry Online, In-Store, and Socially

365 Retail

One industry that has experienced a paradigm shift due to the introduction of AI is the retail sector, where this powerful technology has been gradually integrated into various aspects, from physical stores to e-commerce platforms and social media marketing. The technology also enables retailers to create targeted marketing campaigns.

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An Overview of how the BOPIS Retail Strategy is Transforming the Industry (2021)

Retalon

With increasing popularity among consumers, BOPIS ‘success last year just accelerated what was already happening. BOPIS allows consumers to collect more information so they can make better decisions. In the comfort of their home, a person can take their time to comparison-shop local stores’ assortments and inventory.

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5 Major Retail Digital Transformations to Watch For in 2021

Retalon

Traditionally, retailers have treated forecasting, planning, pricing, inventory, and promotions (marketing) as completely separate domains, often with competing mandates. Promotions can increase foot traffic and sales of market basket items, while simultaneously cannibalizing sales from a variety of other SKUs.