As inflation heats up, store-brand and private-label products are becoming more attractive to consumers who typically buy more expensive name-brand goods. Recent economic reports project real GDP growth will slow to 0.7 percent in 2023. Such a cloudy financial outlook … Continue reading
From using artificial intelligence to analyze shoppers’ actions to promoting their own core values, retailers are looking to deeply engage with their customers to increase repeat business. Customer loyalty is the Holy Grail for retailers. Businesses put hours of effort … Continue reading
Visit Retail Pro at NRF 2023 booth 6203 The retail landscape is challenging, regardless of business success and size. Visit Retail Pro at NRF 2023 to see how you can get total visibility into the operational issues that keep you … Continue reading
When a retailer collects information about its customers, the data reveals important statistics, such as what’s popular, the timing of purchases, who’s buying (demographics), and how customers are shopping, i.e., online or in-store. But the real “secret sauce” comes in … Continue reading
Non-fungible tokens (NFTs) are becoming a bigger part of the fashion landscape. In so doing, they are also becoming a substantial part of retail. An NFT is a unique, “bespoke” item that by its very nature fits right into the … Continue reading
Building omnichannel operations for multinational companies requires integrated technology designed for business agility. With the right set of tools, retailers can build their brands across geographic borders and still provide a consistent customer experience. A successful project must nurture continuous experimentation … Continue reading
Customer retention is a huge challenge for retailers, and all recognize the advantages of cultivating a base of customers: A 5% increase in customer loyalty can increase the average profit per customer by 25% to 100%, according to fitsmallbusiness.com. Creating … Continue reading
In times of hardship, customers want to know their favorite stores are there for them and will reward those retailers with their loyalty even after the crisis has passed. Continue reading
Customer retention is a huge challenge for retailers. The cost of acquiring new customers is far greater —some studies suggest as much as seven times more — than keeping existing ones. Creating a customer experience that is satisfying … Continue reading
Holidays are fast approaching. With them the masses flock to your website, and this year, only some to your stores. Every retailer’s goal is, of course, to capitalize on the increase in reasons to shop and do whatever it takes … Continue reading
