Retail TouchPoints

OCTOBER 6, 2022

The Retail TouchPoints 2022 Retail Strategy & Planning (#RSP22) webinar series, now available on-demand, offered a wealth of tips and best practices across critical areas including pricing, location-based technology, inventory management and marketplaces. Mastercard Spending Data Reveals 4 Key Takeaways for Holiday 2022.

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Shipping Costs Payment Services Merchant Services Payments 287

Retail TouchPoints

FEBRUARY 21, 2024

While this is good news for many ecommerce retailers, it has also become more and more expensive to deliver those goods to customers. This means that it’s not enough for products to be delivered quickly – customers also want to know that if those items aren’t quite what they expected, they can be returned just as quickly and easily.

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Retail TouchPoints

APRIL 4, 2022

We expect to see some pandemic-era commerce developments continue with some new twists, and we’re watching some emerging commerce trends that may go strong beyond 2022 — all with the goal of creating richer, more engaging customer experiences and stronger bonds between customers and brands.

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Retail TouchPoints

SEPTEMBER 14, 2023

The problems with getting products to people quickly and cheaply are well-known: consumers want fast fulfillment, which is costly to provide, but they don’t want to pay high (or really any) shipping fees. Even Amazon , the trendsetter in fast fulfillment, isn’t immune to higher labor costs.

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Shipping Costs Fulfillment Shipping Customer Loyalty 278

Retail TouchPoints

AUGUST 31, 2022

That’s why summer 2022 is prime time for Retail TouchPoints to kickstart holiday coverage. Retailers may want to consider having regular in-store pop-ups and experiences in the months leading up to the holidays. But so far, consumers are focused on the price changes in categories like groceries (88%) and gas (69%).

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Retail TouchPoints

NOVEMBER 3, 2021

Retailers had wanted to do this before as a way to save on labor costs.”. Electronic Shelf Label Growth Buzek predicts an “explosion” in electronic shelf label (ESL) tech, in large part because they make it possible for retailers to perform Amazon -style dynamic pricing in brick-and-mortar stores.

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Retail TouchPoints

JULY 31, 2023

A recent study by IHL Group projects that the global cost of inventory distortion in 2023 will be $1.77 A recent study by IHL Group projects that the global cost of inventory distortion in 2023 will be $1.77 But as ghastly as this figure is, it is down by $172 billion from 2022. IHL estimates the cost of ORC in the U.S.

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Retail TouchPoints

JANUARY 29, 2024

While nearly two-thirds ( 65% ) of retailers responding to the 2022 survey had assigned in-store staff to these tasks, that percentage dropped to 56% in 2023. Another indication of this change is that the number of retailers providing dedicated space for order prep also dipped between 2022 and 2023, from 60% down to 43%.

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Retail TouchPoints

JANUARY 31, 2024

As a result, brands and retailers have had to up their game for their omnichannel strategies to ensure they have the new features and functionality that consumers require to find the best products at the best price. Far fewer respondents ( 56% ) said that more expensive product assortments would lead them to have higher expectations. “We

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Retail TouchPoints

MARCH 22, 2023

Gamestop reported its first quarterly profit in two years for Q4 2022, which ended Jan. million , down significantly from the $915 million in hand at the close of Q4 2022. million , down significantly from the $915 million in hand at the close of Q4 2022. The retailer reached net income of $48.2 billion from $2.25

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Retail TouchPoints

SEPTEMBER 25, 2023

Goldsby, who discussed supply chain issues with Retail TouchPoints in May 2022 , shared his thoughts on ways the industry can make supply chains both more reliable and cost-effective moving forward. Retailers need to be very aware, if not outright cautious, about giving in-stock guarantees, because it’s exorbitantly expensive.

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Supplies Shipping Costs Fulfillment Customer Experience 306

Retail TouchPoints

JULY 12, 2024

For VCs backing ecommerce upstarts, exponential growth and expansion often focuses on speed and a “growth at any price” mindset. On the other hand, traditional retailers must reinvent their playbook to keep up with a customer experience driven by tech that evolves quickly enough to meet consumers’ rising expectations.

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Ecommerce Platforms

JUNE 15, 2022

They represent a potentially dissatisfied customer, additional costs, and a loss of revenue that you had already presumed in your pocket. As we just hinted at, Return Rabbit streamlines the customer's returns and refund experience. The app was only launched in February 2022, so there aren't many online reviews yet.

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Merchant Services Shipping Costs Shopify Shipping 192

Retail TouchPoints

DECEMBER 16, 2022

But as ecommerce has become a more prominent contributor to retailers’ bottom lines, and the cost of doing business online gets more expensive (think rising shipping costs and increasing returns), the mere existence of an ecommerce operation is no longer enough — retailers now have to find a way to make money online.

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Retail TouchPoints

AUGUST 30, 2023

In today’s challenging business landscape, where profit margins are shrinking, supply chains are slow and uncertain, labor shortages are prevalent and inflation is a concern, it is crucial for retailers and brands to differentiate between understanding customer habits and fostering customer loyalty in order to succeed.

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Retail TouchPoints

NOVEMBER 30, 2023

ParcelLab is not just a vendor, but a partner,” said Breanna Moreno, VP of Customer Experience at True Classic in a statement. Centralized, real-time customer analytics provided by ParcelLab have been invaluable in driving future business strategy and creating a fully personalized experience for our growing customer base.”

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Retail TouchPoints

JANUARY 20, 2022

Those disruptions, and their ripple effects on shipping, distribution and warehousing, are expected to continue for months to come and into 2022, meaning that decentralization will remain a core strategy for ensuring business continuity. They’re the essential expenses that effectively set the table for conducting any retail business.

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Retail TouchPoints

SEPTEMBER 2, 2022

It could come from style, it could come from price point or it could come from assortment.”. When reaching out, use the right channels to foster a positive customer experience. There are solutions in the market that help merchants manage these fees and adapt their pricing and shipping fees appropriately.

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Retail TouchPoints

AUGUST 7, 2023

After several years of declines and a host of executive switch-ups (particularly in the CEO role), Wish began a major overhaul of its business (still underway) and launched a marketing blitz to “reintroduce” itself to consumers in August 2022. The trade-off is long shipping times, another thing Wish is working hard to improve.

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Retail TouchPoints

MARCH 31, 2023

by storm, rising to the top of the app charts and garnering millions of fans, until consumers began to realize the cost of those ultra-low prices — long delivery times and often poor quality products. Under Yan’s tenure the company has reduced shipping times dramatically and signed a new partnership with ShipSage to speed up U.S.

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Retail TouchPoints

JULY 20, 2022

In addition, always-on, cross-device shopping behaviors mean consumers are taking their shopping across borders and, in turn, they’re asking more of already strained supply chains. Experts agree that the supply chain has more impact on the customer experience than ever before.

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Supplies Shipping Costs Customer Loyalty Technology 306

Retail TouchPoints

APRIL 27, 2023

Customer experience (CX) strategies often focus on using technology to improve steps in the customer journey, but CX can also be about the bigger picture: how their purchases impact our environment. The 2022 survey also found that a company’s environmental practices were a deciding factor for 78% of consumers.

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Retail TouchPoints

APRIL 20, 2022

Luxury home brand Brooklinen is planning to triple its brick-and-mortar retail presence, first with the addition of four stores in new markets in 2022 and plans to reach 25 to 30 locations by the end of 2024. ”

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Retail TouchPoints

DECEMBER 6, 2021

Let’s face it — a monogamous relationship with a national shipping company ain’t cutting it anymore. For each website, we investigated their online shipping policies (examples here and here ) and went through the buying process to view shipping options available at checkout. How to Get Ready for Peak Shipping.

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Shipping Costs eCommerce Retail Shipping 327

Retail TouchPoints

FEBRUARY 5, 2024

And yet that’s exactly what Amazon is doing with its Ships in Product Packaging (SIPP) program, which, as the name suggests, allows products to ship in their original box or bag without any added Amazon packaging. As a result, in 2022, 11% of packages globally were shipped without Amazon packaging , amounting to millions of deliveries.

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Retail TouchPoints

APRIL 1, 2024

But after a lackluster IPO in 2020 , the company retreated from the public market just two years later when it was acquired by private equity firm Durational Capital Management in 2022. Joe Megibow: The theme that’s driven me across all these companies is they’ve all genuinely been laser-focused on the customer experience.

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Retail TouchPoints

AUGUST 7, 2023

The service, which debuted in November 2022, now provides message-based consultations in 34 states and video visits nationwide. Customers can use Amazon Pharmacy and get their prescription with free shipping or choose another pharmacy. “As And, they can see the cost before they start the visit.”

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Retail TouchPoints

MARCH 17, 2022

These homebound tendencies ignited a fervor for redecorating and DIY home improvement that, by all accounts, is continuing strong into 2022. 71% of Boomers look for the most competitive prices (meaning they’re 25% more likely than the average consumer to compare prices before buying).

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Retail TouchPoints

NOVEMBER 1, 2022

However, many retailers struggle to deliver these experiences because of limited resources and a lack of expertise. Location-Powered Experiences Drive Results. Location infrastructure allows retailers to improve the customer experience both in-store and online. How do These Strategies Drive Results?

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Payment Services Retail Shipping Costs Mobile 277

Retail TouchPoints

MAY 17, 2023

The investor has stated that Dollar General lacks “adequate systems” to handle challenges caused by supply chain disruptions and shipping delays, particularly unpredictable shipments and influxes of inventory, due to its poor worker retention rate. The off-price retailer has taken some steps to address complaints about pay.

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Shipping Costs Supplies Shipping Customer Experience 277

Retail TouchPoints

AUGUST 28, 2023

For the back-to-school season, 42% of consumers say they are spending more, but 57% are trading down for lower prices,” said Caila Schwartz, Director of Consumer Insights and Strategy for Retail and Consumer Goods at Salesforce during an Aug. measured from July’s Prime Day through mid-August). 22, 2023 briefing.

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lateshipment

AUGUST 8, 2022

E-commerce, particularly shipping and delivery has taken a toll since the 2020 holiday season. How Will the 2022 Holiday Season Be Different? as of June 2022 , the worst since November of 1981, leading to resources such as oil and gas getting really expensive. How You Can Prepare for The 2022 Holiday Season.

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Retail TouchPoints

DECEMBER 23, 2022

Forrester predicts retailers, which are already facing operational and supply chain challenges, will react to the uncertainty in 2023 by shifting to managing rising costs by rolling back offers such as free returns or delivery, and investing in optimization technologies such as order management systems. Retail is already changing.

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Retail TouchPoints

FEBRUARY 3, 2023

The new year is here; however, the market challenges of 2022 didn’t evaporate with the turning of the calendar. The current economic environment has driven consumers to be more budget conscious and price sensitive as inflation pushes up the cost of living and products’ prices.

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Payments Merchant Services Payment Services Shipping Costs 286

Retail TouchPoints

JULY 9, 2024

JCPenney has faced the same challenges that bedevil the entire department store vertical, ranging from lower foot traffic at malls to the high operating costs that come with significant brick-and-mortar investments. Retail TouchPoints (RTP): You began in your post at JCPenney in 2022. Bala: It’s all starting with data cleansing.

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Retail TouchPoints

JANUARY 10, 2023

Additionally, Amazon is adding a new feature to the Buy with Prime package that will enable merchants to display ratings and reviews from Amazon customers on their own online stores. Launched in April 2022 , Buy with Prime is Amazon’s answer to the growing success (and power) of the third-party merchants that sell on its site.

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Merchant Services BigCommerce Payment Services Payments 299

Retail TouchPoints

JUNE 6, 2023

He also identified three principles for getting the most out of those membership programs: Think of your offering as a “subscription value stack” ; The value of the membership must always be increasing ; and Leverage the powerful pull of sunk cost. It’s a huge opportunity in that sense.”

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