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How AI is set to revolutionise inventory management

Inside Retail

Great product diversity, changing consumer demands, and the expansion of e-commerce have turned inventory management into a major pain point for retailers. Poor inventory management results in overstocking and under-stocking, impaired cash flow, and losses from theft and spoilage. Here are some reasons why: 1.

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How Bal Harbour Shops’ Unique Traveling Mall Connects with Luxury Consumers

Retail TouchPoints

Back in the 1950’s his grandfather, Stanley Whitman, decided to open a luxury shopping mall in Florida that would rival Manhattan’s Fifth Avenue. Taking advantage of the balmy Florida weather, Bal Harbour Shops pioneered the idea of an open-air shopping mall. Matthew Whitman Lazenby and his family have never dreamed small.

Shopping 279
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How Temple & Webster plans to use AI, private labels to reach $1b in sales

Inside Retail

Temple & Webster also has plans to achieve $1 billion in annual sales within the next three to five years. It plans to increase its brand spend in the upcoming financial year. Beautiful spaces through AI As part of its plan to gain market share and reach $1 billion in sales, Temple & Webster has invested in its private labels.

Planning 246
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What You Need to Know About Transforming Online Return Churn

Retail TouchPoints

Consumer Study , 85% of consumers check a company’s returns policy before even making a purchase when shopping online, and 68% of U.S. Consider offering a printable, pre-paid return shipping label or even a QR code that customers can use at drop-off locations without needing to print anything.

Returns 187
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Six Things the Consumer of 2021 Really Wants

Retail TouchPoints

Online shopping became a refuge, not because of overwhelming convenience, but because contactless commerce was necessary. One in four consumers are shopping more with small brands. Even more astounding, one in four consumers (and 48% of Gen Z) said they are shopping online because they were bored with nothing else to do.

Consumer 311
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Customers Care About Sustainability, so Show them how Ecommerce Delivers

Retail TouchPoints

However, one sustainable investment management firm’s data indicates that ecommerce can generate 17% less greenhouse gas emissions than brick and mortar retail shopping, and other studies report similar ecommerce advantages. Smarter Shipping Options Transport is a large component of the ecommerce footprint.

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Trunk Time may be Costing You

Retail TouchPoints

Ecommerce retailers are looking for ways to minimize the bottom line impact of returns — some even forgoing recovering the product to save on shipping costs. Their most common complaint was centered around retailers not including a return label in the shipping box. Does anyone actually like returns?