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Six Principles for Redefining Retail with Responsible AI

Retail TouchPoints

Gen AI, with its vast potential for enhancing efficiency and personalizing customer experiences, also comes with ethical considerations. The role of such a committee — consisting of individuals from different departments and backgrounds — extends from supply chain management to customer interaction.

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Rite Aid Charges New Chief Retail Officer with Developing its Store of the Future

Retail TouchPoints

Persaud, who has held the role of EVP, Retail since February 2020 , will now be responsible for orchestrating new in-store experiences and operations processes under the retailer’s RxEvolution strategy. During the pandemic, he managed the development of protocols designed to enhance safety for shoppers and associates.

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Can Nearshoring Prevent the Next Supply Chain Crisis?

Retail TouchPoints

“While we’ve returned to some sense of normalcy, the VUCA [volatile, uncertain, complex and ambiguous] proposition has become a reality,” said Dr. Thomas Goldsby, Professor and Chair in Logistics in the Supply Chain Management Department of the University of Tennessee. We’re now battle-tested.”

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“20,000 stores in China by 2026 is the target” – Joey Wat, Yum China’s CEO

Inside Retail

She also revealed that the company has about 445 million customers, which is roughly equivalent to the entire middle class in China. She thinks that the remaining 1 billion people are still up for grabs, and the company is going all out to capture the rest of the market.

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“20,000 stores in China by 2026 is the target” : Joey Wat, Yum China’s CEO

Inside Retail

She also revealed that the company has about 445 million customers, which is roughly equivalent to the entire middle class in China. She thinks that the remaining 1 billion people are still up for grabs, and the company is going all out to capture the rest of the market.

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How to Win in the Real-Time Holiday Retail Era

Retail TouchPoints

But this “new normal” requires retailers to have access to accurate inventory data — often across multiple channels, both in-store and online. This enables a robust omnichannel retail strategy that delivers a unified, seamless and consistent customer experience across all physical stores, websites and mobile apps.

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Mitigate Supply Chain Challenges with Data and Proactive Customer Communication

Retail TouchPoints

Retailers that are in the best position to accomplish this are those that have “leveraged learnings from the disruptions of the past two years, and also realized that nothing is ever going to be perfect,” said Peter Bolstorff, EVP for Corporate Development at ASCM (Association for Supply Chain Management) in an interview with Retail TouchPoints.