Remove 2022 Remove Omnichannel Remove Technology
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Foot Locker Plans to ‘Simplify the Business’ and Grow its Omnichannel Opportunities

Retail TouchPoints

Dillon highlighted Foot Locker’s omnichannel presence , loyalty program and overall digital marketing strategies as the main areas of focus. The retailer also will bolster the technology platform that powers these aspects of the business while continuing to optimize costs across the company. Comparable sales rose 0.8%

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3 Predictions for the Future of Omnichannel 

Retail TouchPoints

In fact, Retail TouchPoints has seen the number of channels used to conduct business grow year after year in its annual Omnichannel and Fulfillment Benchmark Survey. In 2021, retailers shaped their omnichannel strategies around two key issues: customer acquisition ( 63% ) and customer retention ( 58% ).

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How MACH Technologies Help Retailers Foster a Dynamic Customer Experience

Retail TouchPoints

The pace of technological change — as well as consumers’ increasing demand for always-on-shopping, anytime, anywhere — has left some retailers struggling to innovate digitally to meet customers’ evolving wants and needs. Creating a plug-and-play infrastructure enables rapid innovation. return on tangible equity (RoTE) compared to just 15.3%

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3 Winning Omnichannel Strategies for Unifying the In-Store and Online Shopping Experiences

Retail TouchPoints

However, there is some good news for brick-and-mortar retail and malls: Coresight Research recently reported that foot traffic at top-tier malls was up 12% on average in 2022 compared to pre-pandemic 2019 levels, while traffic at lower-tier malls was up 10%. billion, a 3% increase over the same quarter in 2022.

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Wayfair Launches In-Store Immersive Virtual Room Creation Technology

Retail TouchPoints

Wayfair has launched the Digital Design Studio, a patent-pending technology that aims to bring the best of online and in-store shopping together. The technology will debut at the Dedham, Mass. ” The technology could help Wayfair on its path to profitability, though the retailer still has some work to do. billion , down 7.3%

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Omnichannel Retail Index Spotlights 4 Investment Areas

Retail TouchPoints

OSF Digital’s Digital Strategy team (formerly known as FitForCommerce) developed the 2022 Omnichannel Retail Index (ORI) to establish a benchmark for current practices and, most importantly, provide a set of actions and recommendations for the future. Loyalty programs. In 2019, retailers adopted only 57% of mobile best practices.

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Best Buy Shutters Up to 30 Larger Stores as it Shifts Omnichannel Operating Model

Retail TouchPoints

In July 2022, Best Buy introduced a small-format, digital-first store concept that builds on a pilot that started in 2021. billion in Q4 2022. The first location, a 5,000-square-foot shop in Monroe, N.C., Comparable sales fell 9.3% as overall revenue dropped to $14.7 billion , down from $16.4