Tokinomo
MAY 16, 2023
Everybody has heard about ChatGPT. While this is the most well-known use of artificial intelligence, this technology is quickly spreading in all industries. AI has been growing in importance in various industries due to its ability to process and analyze large amounts of data, make predictions and recommendations, automate repetitive tasks, and improve overall efficiency.
Hyken
MAY 16, 2023
I like the title of this article, but perhaps a more appropriate title might be: Customer Service Is Like Being Married. The buying cycle for a customer typically includes a little research, talking to a salesperson, making the purchase, and whatever happens after the sale. This can include follow-up from the salesperson, dealing with customer service for a problem, or any interaction you have with the company or brand after the sale is made.
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Retail TouchPoints
MAY 16, 2023
With the proliferation of retail media properties, it’s beginning to feel like the digital economy is producing walled gardens faster than baby rabbits. This is actually a healthy development. These walled gardens don’t necessarily carry the baggage of the big original ones, and even when they do, it’s a net positive to the broader marketing ecosystem.
Retail Focus
MAY 18, 2023
Shopping centres are so much more than a place to purchase a new outfit or a loved one’s birthday gift. In recent years, they’ve become an exciting social hub that serves in strengthening communities and shaping urban areas. Online shopping continues to grow even post-pandemic, meaning it’s never been more important that these complexes continue to differentiate themselves from online retailers, cementing their place in society.
Advertiser: Experience Retail Today
I’m getting in touch with the news that fashion retailer, Gina Trictot, has achieved 98% inventory accuracy thanks to its partnership with SML RFID. Please see the full press release below, including exclusive quotes.
Retail Dive
MAY 15, 2023
As most Americans anticipate a major life event in the next decade, there’s ample opportunity for BNPL usage to grow.
Inside Retail
MAY 17, 2023
When it released its first-quarter results recently, Simon Property Group, the largest mall operator in the US and a global player with projects in the US, Europe and Asia, reiterated its bullishness on the future of the mall sector. Is the crowing justified or is it a smokescreen to disguise an industry in continuing decline? And what is the spillover into Asia ?
Experience Retail Today brings together the best content for retail owners from the widest variety of industry thought leaders.
Retail Wire
MAY 17, 2023
Members of Gen Z use TikTok and other social media to share their fashion finds and other details of their lives like professional influencers. “You might have 12 followers and you’re selling swag,” said Vickie Segar, the founder of Village Marketing. “The macro movement of everyone being a creator, and the idea that creators should monetize themselves in every avenue they can, is just trickling down to the everyday person.
Tokinomo
MAY 15, 2023
Campaign corner Adieu. Corona’s recent commercial shows that relaxation means different things to different people. While Snoop Dogg and Karol G, both musicians, find ultimate relaxation by reclining in beach chairs, gazing at the ocean and savoring cans of Corona Extra, comedian Andy Samberg struggles to fully let go of the idea that there might be something else to explore.
Inside Retail
MAY 16, 2023
Australian shoppers are increasingly buying and selling second-hand clothing items and want more sustainable, gender-diverse and inclusive brands, according to a new report by Afterpay. The rise of recommerce – the selling of previously owned products – is evident with 67 per cent of respondents saying they had bought or sold second-hand clothing items.
Retail TouchPoints
MAY 17, 2023
Editor’s note: As retail interfaces and systems continue to evolve, the way we design retail experiences to user needs and behaviors is also transforming. In the new series “Stimulating Retail,” join award-winning sensory designer and Harvard neuroscientist Ari Peralta as he breaks down the science and tech behind some of today’s most stimulating sensory retail experiences.
Speaker: Jennifer Wright and Nick Barron
2025 is right around the corner, and with it comes a new wave of consumer expectations, competitive pressures, and operational challenges. Success lies in finding the balance between operational flexibility and creating experiences that keep customers coming back. The future of retail belongs to those who can stay ahead of shifting customer preferences and marketing trends. 🔮 In this session, we’ll dive deep into what it takes to keep customers engaged and your operations nimble, no matt
Retail Wire
MAY 15, 2023
Workers at the McNally Jackson, Goods for the Study, Greenlight Bookstore and Book Culture Booksellers at Rutgers University voted unanimously to join the Retail, Wholesale and Department Store Union (RWDSU). That follows other votes that have seen RWDSU elected to negotiate for workers at McNally Jackson, Goods for the Study, Greenlight Bookstore and Book Culture.
Retail Focus
MAY 15, 2023
Revo, the premium, high-quality performance sunglass company, announced today the opening of their first flagship store in Barcelona, Spain. The store is located on Baixada de la Llibreteria, in the Gothic Quarter, one of the city’s most charming and highly trafficked districts. The newly completed store will bring a unique and immersive shopping experience to Revo fans and newcomers to see the entire brand under one roof.
Inside Retail
MAY 18, 2023
Premium home fragrance retailer Dusk Group says an “increasingly cautious consumer environment” has impacted sales growth. In a trading update citing unaudited accounts, the business said it expects sales to be in the range of $135 million – $137 million while pro forma EBIT will be around $16 million – $17 million. Group CEO and MD, Peter King, said the mounting cost of living has impacted the disposable income levels of customers.
Retail TouchPoints
MAY 18, 2023
Zeropark offers commerce media solutions, targeted at retail brands and agencies looking to drive incremental performance and efficient sales with sustainable, cookieless and 100% brand-safe advertising. The solution provider aims to streamline high-intent consumers toward promoted brands by creating shoppable opportunities during the key moments of their buying journey.
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With over 9 million sellers on Amazon, online marketplaces are more crowded than ever. Whether you’re looking to fine-tune prices in real-time or align strategies across channels, this guide provides the tools to understand how to maximize sales and secure a lasting competitive edge. Download now to transform your pricing strategy and drive holiday success.
Retail Wire
MAY 17, 2023
OpenAI CEO Sam Altman testified before Congress yesterday and told lawmakers that artificial intelligence technology could “cause significant harm to the world.” Mr. Altman expressed a willingness to work with Congress and federal regulators to address “disinformation” and other risks associated with the technology’s use.
Retail Focus
MAY 15, 2023
Selfridges launches The Stock Market at the Corner Shop, a month-long circular experience where customers can uncover the value of what they already own, exchange items for Selfridges credit and restore or upcycle clothing and accessories. Drawing inspiration from the towering 360 o desks and the rotundas of data-filled screens found at the London Stock Exchange, The Corner Shop will be transformed into a ‘trading floor’, an immersive hub for buying, selling, repairing and upcycling.
Inside Retail
MAY 19, 2023
Subscription-based meal kit business My Food Bag Group will delist from the Australian Stock Exchange (ASX) after its profits slump. For the year to March 31, sales fell 9.4 per cent to $175.7 million while tax-paid profit declined 60.8 per cent to $7.9 million. The company has increased its investments in Bargain Box – a meal kit delivery service – in response to softening consumer demand while growing its active customer base by 12 per cent.
Retail TouchPoints
MAY 19, 2023
I love to travel. Most people do. There is nothing like that feeling of stepping out into a country you’ve never visited, the assault on your senses from all the new sights and sounds, and the subtle ways that every part of this world does things differently. It’s this drive that helps tourism make up a substantial portion of the world economy. Before the pandemic, tourism spending was 10% of global GDP and accounted for one quarter of new jobs.
Speaker: Igli Laci, Strategic Finance Leader
In today’s competitive market, pricing is more than just a number — it’s the cornerstone of profitability. The right pricing strategy ensures that you capture the true value of your offering, paving the way for sustainable growth and long-term success. Join Igli Laci, Strategic Finance Leader, in this exclusive session where he will explore how a well-crafted pricing approach balances customer perception with business objectives, creating a powerful tool for securing both competitive advantage a
Retail Wire
MAY 19, 2023
Apple has restricted its employees’ use of ChatGPT and other outside generative artificial intelligence technology over concerns that confidential information could be leaked accidentally. John Giannandrea, a former Google exec who joined Apple in 2018, leads the tech giant’s AI efforts.
Retail Focus
MAY 18, 2023
As footfall recovers, retailers are upping their game to win over the hearts and minds of shoppers by offering more luxurious shopping experiences. While some may have suspected bricks and mortar retail would struggle in a time of low growth and high inflation, the luxury sector is proving the opposite is true. In fact, the latest figures from Bain & Company reveal that people are increasingly keen to enjoy upscaled retail experiences.
Inside Retail
MAY 16, 2023
Australian company Munro Footwear Group (MFG) has rescued New Zealand kids’ shoe company Bobux International from receivership. MFG owns and sells brands including Mountfords, Midas, Mollini, Mathers, Williams, Cinori, Ziera, Colorado and Diana Ferrari. It operates more than 290 stores in Australia and employs 2500 staff. In a LinkedIn announcement, Bobux International said MFG has a “shared passion for a customer-centric approach” which aligned well with the brand.
Retail TouchPoints
MAY 16, 2023
The Home Depot posted its weakest quarter in years, with Q1 2023 seeing a 4.5% comparable sales decline year-over-year. Total sales were $37.3 billion , down 4.2% from Q1 2022. The declines were attributed to a slowdown following three years of “unprecedented growth” in which the retailer boosted its sales by over $47 billion , according to President and CEO Ted Decker.
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In the B2B space, digital expectations are higher than ever. Consumer platforms have made online experiences incredibly user-friendly and efficient, adding pressure for businesses to follow suit to meet the expectations of the modern B2B buyer. Take inspiration from B2C commerce strategies and adapt them for B2B digital interactions. Learn to create engaging and well-crafted consumer shopping experiences with insights and tools from Orium’s report, A Blueprint to B2B Commerce.
Retail Wire
MAY 19, 2023
Government reports and retailer earnings all point to Americans becoming more frugal in the face of high prices and interest rates. “A consumer slowdown is underway,” said Neil Saunders, managing director at GlobalData.
Wiser
MAY 15, 2023
For some, implementing a new pricing strategy can feel like a real shot in the dark. Set your prices too low and you’ll miss out on profit. Too high, and you’ll lose sales to your competitors. It’s not as simple as copying the competition’s prices, and there is no easy, one-size-fits-all solution. Luckily, you don’t actually have to continue flying blind.
Inside Retail
MAY 16, 2023
Activewear brand Stylerunner’s GM Ryan Edelmuth has stepped back from the business to lead high chair startup, Catchy. Founded in 2012, Stylerunner is a multi-brand retailer that sells luxe and premium activewear from global and emerging brands and is owned by the Accent Group. In a LinkedIn post, Edelmuth described his time with Stylerunner as a “career highlight” and added: “After an incredible nine years at Accent Group, last week was my final week.” He said the highlight of his time wi
Retail TouchPoints
MAY 15, 2023
Amazon has been overhauling its logistics network to “regionalize” where inventory is located across the U.S. in an effort to reduce delivery costs while maintaining the fast shipping speeds the company is known for, multiple sources report and Amazon has confirmed. Today, 76% of the products customers order are fulfilled from facilities within their region, Amazon said, and as a result the company said it expects 2023 will be the fastest year yet for customers in terms of delivery speed.
Speaker: Shaunna Bruton, Danielle Wyllie, and Kailey Holmes
Say goodbye to one-size-fits-all retail, and say hello to experiences that keep your customers coming back for more! Customer loyalty isn’t just earned - it’s cultivated through meaningful engagement with the help of data. This webinar will take you behind the scenes of how top retailers turn customer data into personalized experiences that drive engagement and retention.
Retail Wire
MAY 19, 2023
Amazon.com has completed 100 drone deliveries in two small markets in California and Texas, well below its goal of 10,000 by the end of the year, as consumer adoption appears to be lagging. “I would love to see the drones flying around. I can’t wait,” said Ken Thomas, who co-owns a Lockwood, CA, deli.
Retail Dive
MAY 15, 2023
A Missouri plaintiff said that 90% of the products Nike advertises as using recycled materials don’t, and that some of the recycled materials themselves are environmentally harmful.
Inside Retail
MAY 16, 2023
Ikea Australia is trialling making customer deliveries in metro areas by two electric tuk-tuks as it looks for ways to reach zero emissions company-wide. The two electric tuk-tuks, both powered by 9kWh swappable batteries, will deliver parcels within a 10km radius of Ikea Tempe until August 16. Tiffany Mosura-Lesnock, manager for Ikea Tempe, said electric vehicles are “shaping the future of delivery” around the globe.
Retail TouchPoints
MAY 19, 2023
Staples has launched a new marketing campaign with the theme of “Business is Human,” highlighting the company’s belief that while AI “is and will continue to be a powerful tool, it is most effective when combined with human insights and expertise.” The campaign promotes the retailer’s membership program for business owners, Staples Business Advantage (SBA) , and will run across a number of major U.S. news outlets, print publications and audio and video streaming platforms.
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Join Bloomreach at Innovation Fest: Summer 2024, a virtual event, to explore the future of personalized marketing and merchandising! Along with the company’s top product experts, CEO Raj De Datta will provide an exclusive look at the company’s latest AI innovations reshaping the omnichannel experience. Don’t miss out on this exciting opportunity to connect with fellow industry leaders and explore the latest trends in retail technology.
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