Sun.Feb 26, 2023

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Inside the growing issue of cyber security, and what retailers can do

Inside Retail

Data breaches are becoming more prevalent these days, and the retail sector is definitely seeing its share of attacks. Most recently, a historic data breach impacted up to 1.85 million ‘The Good Guys’ customers. IBM recently revealed its ‘X-Force Threat Intelligence Index 2023’ report. According to the 2023 report, the deployment of backdoors, which allow remote access to systems, emerged as the top action by attackers last year.

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Tips on Attracting and Keeping Great Retail Store Employees

Retail Smart Guys

We have this common notion that money is the primary driving force behind everything we do. Although this can be true in some aspects, at present, this is inconsistent when it comes to working. Most studies indicate that employees identify money as the least motivating factor. This differs from what some retailers believe that money will attract people to work for them and stay for a long time.

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Kogan reduces inventory levels as sales soften in first-half

Inside Retail

Trans-Tasman online retailer Kogan says it is on track to restore profit levels, despite subdued sales during the first half. For the six months to December 31, gross sales declined 32.5 per cent to $471.1 million while EBITDA reduced to $23 million. Tax-paid profit fell to $23.8 million. The company said active customers across the group (excluding its Brosa division) reached 3.32 million.

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Top 5 Customer Service & CX Articles for the Week of February 27, 2023

Hyken

Each week, I read many customer service and customer experience articles from various resources. Here are my top five picks from last week. I have added my comment about each article and would like to hear what you think too. 8 Ways to Enhance Your Call Center Customer Experience by Eric Sims (CustomerThink) In today’s business landscape, providing an exceptional customer experience is essential to the success of any company.

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From Data to Decisions: Maximizing Retail Potential with AI

Speaker: David Azoulay, Marc Stracuzza, Román Tejada, and guest speaker Sucharita Kodali

Imagine a retail landscape where every interaction is personalized, every decision informed, and every opportunity maximized 🤔✨ Join us for an exploratory journey into the heart of AI-driven retail innovation. We’ll unveil the transformative potential of AI and data analytics in shaping the future of omnichannel personalization and e-commerce.

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Reducing the cost of free returns: how retailers are cutting back

Inside Retail

Customers want a quick, simple, and flexible return process and the peace of mind that if they don’t like an item, they can easily return it. Retailers know that hyper convenience is essential to the e-commerce proposition, and many continue to offer ‘free returns’ to remain competitive. However, the real cost of such a service is not sustainable – not for retailers and not for the planet.

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City Chic sales decline across its businesses globally

Inside Retail

Plus-size fashion retailer City Chic says softer consumer demand has impacted the business globally during its first half. For the 26 weeks to January 1, sales declined 8 per cent to $168.6 million reflecting volatile demand across the group’s markets. Online sales fell 21 per cent as consumers returned to in-store shopping, while EBITDA reached $3.4 million, in line with last month’s trading update.

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US burger chain Wendy’s predicts hundreds of store for Australia

Inside Retail

The US burger chain Wendy’s, which has 7000 stores globally, believes Australia has the longterm potential for hundreds of outlets. Wendy’s has a 2025 target of 8500 stores internationally. Chief development officer Abigail Pringle told the Australian Financial Review “We believe Australia is a lucrative market for long-term growth. We think that the Australian market could be hundreds of restaurants.

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Returning customers drive Adore Beauty’s revenue during first-half

Inside Retail

Pureplay online cosmetics retailer Adore Beauty has reported softer sales during its December half as it navigates a volatile post-Covid retail environment. For the six months to December 31, sales fell 17 per cent to $93.6 million while EBITDA reached $406,000 reflecting lower operating leverage, inflationary pressures and investments in key initiatives.

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How a phone answering service can help you cope with staff shortages

Inside Retail

For many workplaces today, dealing with staff shortages and guaranteeing that every call is answered becomes a challenge. Alongside giving your callers a positive first impression of your brand, having a professional phone answering or virtual receptionist service ensures efficient and effective communication with customers 24/7. Let’s explore below some of the many benefits businesses just like yours are experiencing from a phone answering service in the ‘new normal’.