Sat.Apr 06, 2024 - Fri.Apr 12, 2024

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Retailers Get Real with AI: Four AI-Powered Apps We’ll See this Year

Retail TouchPoints

We are past the point of conjecture about whether AI will upend the retail industry; it already has. In a recent study sponsored by Nvidia, 69% of retailers that used AI in 2023 reported that it increased revenues, and 72% said it reduced operating costs. With these kinds of results, it is no wonder 81% of retail leaders feel an urgent need to deploy AI this year, according to a Google report.

Consumer 290
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This Customer Could Ruin Your Business

Hyken

What if I told you that a satisfied customer could ruin your business? Most people think satisfied customers are happy and will come back. At least, it appears that way. Many years ago, I used to begin my customer service keynote speeches with a question: By a show of hands, how many of you believe it’s important to satisfy your customers? As you might imagine, just about everyone raised their hand.

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Retail is back as rents settle. Maya Capital closes Fulham Road retail investment

Retail Focus

Maya Capital LLP , a pan European investment firm, announces that it has completed the purchase of 24,228 sq ft of retail and showroom accommodation in London, on 137-167 Fulham Road. Fulham Road is located in the Royal Borough of Kensington and Chelsea, and is considered one of the wealthiest areas in the world hosting a range of Luxury tenants including Chanel, Acne and Carolina Herrera.

Location 147
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Data: Retailer insolvencies hits five-year high as inflationary pressures worsen

Retail Gazette

The number of retailers buckling under economic pressure has hit a five year high as consumers remain cautious amid the cost-of-living crisis. Insolvencies in the sector are up 19% to 2,195 in the year to January 31, up from 1,843, according to figures from Mazars. The accountancy firm reported that ecommerce insolvencies had surged 18% to 615, up from 521 reported in the previous year.

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From Concept to Deployment: Building Commerce Storefronts with Composable UI

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How retailers can leverage the power of Gen AI to enhance the customer buying experience

Retail Customer Experience

Expect more retailers to accelerate investments in generative artificial intelligence and use the technology to strengthen customer relationships and more effectively and efficiently manage their businesses.

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The Dark Side of the Surveillance Economy and What Retailers Should Do About It

Retail TouchPoints

Businesses across the spectrum have benefited hugely from the rise of the “ surveillance economy ” — the business of gathering and using data about consumer behavior for profit — but the impact to consumers is much less straightforward. Yes, consumers now have access to never-before-seen levels of personal technology and convenience, but the idiom “there’s no such thing as a free lunch” also has never been more true.

Consumer 278

More Trending

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Rolex’s 2024 Watches Return to Classic Luxury

Retail Wire

Rolex took a step back at the 2024 Watches and Wonders trade show in Geneva. After the frenzy of "hype watches" in 2023, its new releases signal a return to normalcy in the luxury watch market.

Returns 264
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2024 VM and Display Awards Celebrate Excellence in Retail

Retail Focus

On the 12th of March, the Leonardo Royal St Paul’s in London was the epicentre of celebration for the Retail Visual Merchandising and Display industry. The prestigious VM and Display Awards, now in its 29th year, continued its tradition of excellence, drawing a sell-out crowd eager to celebrate the industry’s finest achievements. As we edge closer to the landmark 30th anniversary next year, this event highlighted the innovation and creativity that have been the hallmark of visual merchandi

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Best Buy Adds Generative AI to its Customer Service Toolkit

Retail TouchPoints

Best Buy is expanding its partnership with Google Cloud to leverage generative AI technology for new customer service tools. The retailer also is working with Google Cloud and Accenture to develop new AI-powered tools for its frontline associates. As early as late summer, Best Buy customers in the U.S. will be able to connect with a gen AI-powered virtual assistant for help with tasks like troubleshooting product issues , rescheduling or combining order deliveries , managing software , Geek Squa

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Aldi tops customer satisfaction rankings for fourth year in a row

Inside Retail

Aldi bagged the Supermarket of the Year 2023 title from the Roy Morgan’s Customer Satisfaction Awards – for the seventh time and the fourth consecutive year. The supermarket chain boasted an average 95.7 per cent customer satisfaction score. “This the fourth consecutive year that we’ve received the award, and at a time when shoppers are continuously seeking better value, we have never been more aware of the need to continue to deliver on our promise to offer Aussies the highest quali

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Turn Payments Into Personalization: Unlock the Value of Transaction Data

Speaker: David Nisbet, Everett Zufelt, and Michaela Weber

Once upon a time, in the vast realm of online commerce, there lived a humble checkout button overlooked by many. Yet, within its humble click lay the power to transform a mere visitor into a loyal customer. 🧐 💡 Getting checkout right can mark the difference between a successful sale and an abandoned cart, yet many businesses fail to make payments a part of their commerce strategy even when it has a direct impact on revenue.

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Southwest Boeing Engine Cover Detaches Mid-Air

Retail Wire

On a routine flight to Houston, a Southwest Airlines Boeing 737-800 encountered a mechanical problem. The FAA reported that an engine cover dislodged mid-air, striking the wing flap.

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SEPHORA is coming to Newcastle in the Autumn of 2024 with two new stores

Retail Focus

This Autumn, Sephora is continuing its northern expansion in full force with the opening of not one, but TWO new stores in Newcastle. With the recent announcement of Manchester opening earlier this year, Sephora has listened again to the overwhelming demand from their engaged community, making Newcastle the next North East location for Sephora UK. The city’s key retail destinations Eldon Square and the MetroCentre will be the new homes of Sephora UK, bringing in a massive influx of beauty obsess

Shopping 147
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Non-Alcoholic Brand Boisson Files for Bankruptcy Protection, Closes all Stores

Retail TouchPoints

Boisson has filed for Chapter 11 bankruptcy protection and shuttered its eight brick-and-mortar stores, according to multiple media reports and a LinkedIn blog post by Boisson founder Nicholas Bodkins. The non-alcoholic (NA) beverage brand plans to continue operating as a wholesaler and a DTC ecommerce retailer. Boisson had taken a “neighborhood stores” approach to brick-and-mortar expansion, opening stores in NYC, San Francisco, Los Angeles and Miami.

Wholesale 264
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Nike embarks on a multi-year innovation cycle 

Inside Retail

Sportswear giant Nike is launching a multi-year innovation program by launching a new line-up of products. According to the company, the cycle will include digital capabilities and technology, aiming to provide “better, faster, more efficient solutions for athletes”, as well as offer more creative possibilities – including Nike’s first sculpted, visible Air Zoom unit in the new Pegasus Premium running shoe.

Returns 264
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Brick & Mortar Retail Relevance: How to Stay Ahead of the Curve

Speaker: Jay Black, Senior Account Executive

Let's set the record straight: in-store retail isn't dead - it's evolving! Faced with the digital age and the demands of omnichannel shopping, some retailers are thriving while others are struggling to adapt. Join Jay Black in this exclusive session as he explores the strategies that set successful stores apart, including: Crafting unique and unforgettable in-store experiences 🛍️ Mastering the art of retail demands 🛒 Navigating inventory challenges in today's climate 📦 an

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California McDonald’s Franchisee Strategizes Cost Reductions After Minimum Wage Hike

Retail Wire

Following the recent increase in the minimum wage for fast-food restaurants in California, a McDonald's franchisee in the state is raising prices, thinking about postponing dining room renovations, and evaluating potential changes to opening hours to save money.

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Hospitality Suites and Corporate Entertainment at Sporting Venues

Retail Focus

In the world of business, forging strong connections and creating memorable experiences are paramount. Corporate hospitality suites at sporting venues offer a unique and dynamic platform for companies to elevate their entertainment game, fostering valuable relationships while indulging in the thrill and excitement of live sports. These exclusive spaces provide a luxurious and immersive setting, where business leaders, clients, and key stakeholders can come together to celebrate shared passions,

ATS 130
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Shopify Helps Hawaiian Brands Say ‘Aloha’ to NYC

Retail TouchPoints

Shopify is partnering with Mana Up , an accelerator and venture fund for Hawaii-based products, on an immersive market concept designed to spotlight emerging brands from “the Aloha state.” Aloha Market will run April 26 to 28, 2024, at Shopify’s NYC activation space in SoHo, and will feature unique products from more than 40 Hawaii creators and entrepreneurs.

Marketing 264
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From sprinters to sneakers: How Puma aims to tap into ‘halo effect’ of Olympians

Inside Retail

German sportswear brand Puma is using this year’s Olympic Games and its partnership with sprint champions Jamaica to focus on speed as it jostles with Adidas and Nike to carve out space in an increasingly competitive running and lifestyle market. Puma CEO Arne Freundt aims to boost sales of “performance” products like running shoes and soccer cleats, and has revamped Puma’s “Forever Faster” message in its first brand campaign in a decade on Wednesday in Paris,

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How to Stay Competitive in the Evolving State of Martech

Marketing technology is essential for B2B marketers to stay competitive in a rapidly changing digital landscape — and with 53% of marketers experiencing legacy technology issues and limitations, they’re researching innovations to expand and refine their technology stacks. To help practitioners keep up with the rapidly evolving martech landscape, this special report will discuss: How practitioners are integrating technologies and systems to encourage information-sharing between departments and pr

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Communities Flock to 99 Cents Only Stores

Retail Wire

Shoppers are flooding into 99 Cents Only Stores for a final stock-up before closure. With 143 locations in Southern California set to close, there's a push to save them led by Mark J. Miller, CEO of Pic 'N' Save Bargains.

Location 246
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Choosing the Perfect Wedding Venue: Factors to Consider

Retail Focus

Your wedding day is a moment frozen in time, a cherished memory that will forever be etched in your heart. It’s a celebration of love, unity, and the beginning of a new chapter in your life’s journey. As you embark on this exciting adventure, one of the most crucial decisions you’ll make is selecting the perfect venue – the canvas upon which your dream wedding will unfold.

Location 130
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Macy’s Adds 2 Arkhouse Directors to Board in Deal to End Proxy Fight

Retail TouchPoints

As part of an agreement with activist investor Arkhouse Management , Macy’s Inc. has named Arkhouse candidates, Richard (Ric) Clark and Richard (Rick) L. Markee, as independent members of its board of directors. Arkhouse has withdrawn its other director nominations as part of the deal, and Clark and Markee will join the board’s finance committee, which will evaluate the acquisition proposal from Arkhouse and Brigade Capital Management that began in December 2023 with a $5.8 billion buyout bid.

Finance 264
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‘Croc-Tail Party’: Pringles and Crocs launch crossover collection

Inside Retail

Pringles and Crocs have collaborated to develop a footwear line, encouraging fans of either brand to express their passion for snacking and fashion. The collection comprises three designs: the Pringles x Crocs Classic Crush Boot, the Pringles x Crocs Classic Clogs, and the Pringles x Crocs Classic Slides. The collaboration also includes a variety of Pringles-themed Jibbitz charms – as well as a Pringles flavour inspired by the collaboration, Croc-Tail Party. “Pringles’ first footwear

Fashion 261
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Get MACH Ready with Orium, Commercetools, and Contentstack

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Car Insurance Costs Are Rapidly Rising and Causing Higher Inflation

Retail Wire

Surging car insurance rates contributed to the acceleration of inflation rates in March, adding to the financial burden on vehicle owners in the U.S.

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Tips for Decluttering and Streamlining Your Home

Retail Focus

In today’s fast-paced world, our homes can easily become cluttered havens, weighing us down with the burdens of accumulated possessions. However, by embracing the art of decluttering and streamlining, you can transform your living space into a sanctuary of tranquility and effortless living. A decluttered home not only enhances the aesthetic appeal but also cultivates a sense of mental clarity and emotional well-being.

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Balancing Customer Loyalty in an Age of Growing Business Costs

Retail TouchPoints

Since 2020, the global economy has sat on pins and needles as the fallout from COVID-19 rippled through 2021, 2022 and 2023. But the resilience of the American consumer prevented an all-out economic disaster. Time and time again, consumers kept the economy chugging along despite the bleak forecasts from leading economists. Early on, they were powered by pandemic relief checks from the U.S.

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How automation can help retailers reduce back-office costs and grow

Inside Retail

Retail margins are under pressure from the continued cost-of-living crisis and subsequent decline in discretionary spending, driving many businesses to look for ways to reduce their costs. But while labour and marketing budgets are typically the first to be put on the chopping block, retailers may be overlooking opportunities to reduce costs in the back end by automating everyday finance functions, such as accounts payable and accounts receivable.

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How Retailers Are Transforming Customer Experiences with Data & 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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Roku Hit by Cyberattack: Over Half a Million Accounts Breached

Retail Wire

Roku disclosed that approximately 576,000 user accounts were compromised in a recent cyberattack, marking the second security breach this year.

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Effective Strategies for Organizing Your Home

Retail Focus

In the hustle and bustle of modern life, our homes can easily become cluttered and chaotic sanctuaries, leaving us feeling overwhelmed and stressed. However, by embracing effective organizing strategies, you can transform your living space into a haven of tranquility and efficiency. A well-organized home not only enhances your physical surroundings but also contributes to your mental well-being, allowing you to navigate daily tasks with ease and clarity.

Location 130
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Home Depot ‘Retool Your School’ Program Awards Nearly $3 Million to 42 HBCUs

Retail TouchPoints

For the 15th year, The Home Depot has awarded grants for campus improvements to Historically Black Colleges and Universities (HBCUs) as part of its Retool Your School program. This year’s nearly $3 million donation will be divided among 42 HBCUs, with Albany State University, South Carolina State University and Paine College each receiving $150,000 as the top vote-getters in their respective categories (based on the size of their student populations).

Marketing 264
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ACCC welcomes commitment to tougher merger laws

Inside Retail

The government’s decision to strengthen merger laws to prevent anti-competitive transactions in the country has been welcomed by the Australian Competition & Consumer Commission (ACCC). The new laws are set to come into force on January 1, 2026, subject to the passage of legislation through the Australian Parliament. This follows the ACCC’s previous request for a “fit-for-purpose” merger regime.

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Exploring the Advantages and Hurdles of Direct Store Deliveries

Direct Store Delivery, or DSD, is a common practice among global suppliers and retailers – like PepsiCo, Frito Lay, CVS, and Dollar General – and its popularity is growing, with the global DSD market expected to reach $1.19 trillion by 2027. Download this eBook for exclusive insights into direct store deliveries, challenges, benefits, and future trends.