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Understanding consumer behaviors will be key to building (or rebuilding) a successful retail business in a post-pandemic world. Data will fuel the shift to digital, according to expert contributors to the recent Retail TouchPoints (RTP) webinar, Analyzing The Shift To Digital From 7,000 Marketers And 1B Consumers Worldwide.
The virtues of composable commerce and the emerging possibilities of generative AI were key themes of this year’s Connected Consumer Series , Resilient Retail: How Efficient, Effective and Engaging CX is Fueling Growth. View the session on demand. View the session on demand.
COVID-19 has accelerated the contactless revolution: 84% of Americans ( 77% among global consumers) now expect to increase their use of touchless technologies to avoid physical contact for the remainder of the pandemic, with 55% ( 63% globally) planning to continue doing so afterward, according to a survey by Capgemini.
Retail companies have invested billions in data analytics and infrastructure, seeking competitive advantage through deeper, more granular visibility into consumer behavior, business operations, supply chains and more. They’ve also embraced tools that enable them to understand and help predict customer behavior through real-time data analysis.
A network outage can mean lost sales in the short term, as shoppers simply move to another brand for that purchase, or losses in the long term if that customer does not return. A cyberattack that compromises customer personal information can diminish the trust consumers place in a brand.
By David Dalton and Keith McUmber, Checkpoint Systems Brands spend millions every year designing and refining product packaging to give it standout shelf-appeal and to make target consumers pine for what’s inside. And while successful packaging design might come in many forms, the overall goal is always to deliver more sales.
Point-of-sale system data integration. Point-of-sale (POS) syste m is relatively new compared to traditional sales methods, but it has become increasingly vital in the retail industry. Retailers can also use purchase history information to create coupons or deals to increase their sales within a given time frame.
In the competitive fast-moving consumergoods (FMCG) sector, leveraging integrated sales data is essential for crafting smarter, more responsive strategies. This holistic view allows brands to identify trends, track performance, and adjust strategies swiftly to meet consumer demand.
Among many other things, you’ll likely need a retail cash wrap , point of sale system with necessary accessories, cleaning materials, technical devices, signage, and display hardware. Today, the average modern-day consumer pays for their daily purchases with credit cards, debit cards, or mobile wallets. Security supplies.
These modern marvels brought a dizzying array of products right to the consumer. As the 19 th century ended, new techniques turned consumergoods into mass-produced items rather than hand-crafted one-offs. In response, retailers consolidated systems and integrated point-of-sale, inventory, and customer relationship functions.
While supply chain issues continue to be persistent thorns in the side of businesses, the demand for consumergoods, both in physical stores and across eCommerce retail, has continued to increase. BNPL is especially popular among younger consumers. Take advantage of all of the consumer data that your point of sale stores.
Other retail businesses, such as consumergoods and food brands have actually increased prices over the years by reducing the amount of product they give in their packaging, a frustrating phenomenon known as shrinkflation. Leverage Point Of Sale Data. How do I raise prices without losing clients?
These modern marvels brought a dizzying array of products right to the consumer. As the 19 th century ended, new techniques turned consumergoods into mass-produced items rather than hand-crafted one-offs. In response, retailers consolidated systems and integrated point-of-sale, inventory, and customer relationship functions.
These modern marvels brought a dizzying array of products right to the consumer. As the 19 th century ended, new techniques turned consumergoods into mass-produced items rather than hand-crafted one-offs. In response, retailers consolidated systems and integrated point-of-sale, inventory, and customer relationship functions.
This type of statement ignores the true cost behind what goes into bringing a consumergood to market. . These studies are based on any number of sets of information from conducting interviews and focus groups to analyzing consumer data for specific counties.
Reach out to the Minority Cannabis Business Association (MCBA) , or cannabis consumergoods company Green Thumb’s License Education Assistance Program (LEAP ) to see if they know how to provide information or assistance for your specific situation. . Chances are, other social equity applicants have tried to do something similar.
Reach out to the Minority Cannabis Business Association (MCBA) , or cannabis consumergoods company Green Thumb’s License Education Assistance Program (LEAP ) to see if they know how to provide information or assistance for your specific situation. . How Have Social Equity Programs Fallen Short? Dispensary POS .
The COVID-19 pandemic has driven consumers to value flexibility in their buying experience. This selection is made by using past sales data or asking consumers to take a quiz or survey describing their preferences. This is a recurring order of everyday consumergoods, such as groceries or household items.
Consumer spending habits returning to normal. Mastercard reports that their Q2 2021 revenue surged 36% over last year, a confident indication that consumer spending is rebounding after the pandemic made shoppers wary of making discretionary purchases. billion in consumer spending in Q2. Still, overall, 62.5%
Last year, consumers moved toward digital more quickly than ever in light of the coronavirus pandemic. With store closures, safety concerns about being around other people, and more, consumers shifted to online shopping enough last year to push ecommerce to levels that weren’t expected until 2025! December 2. billion in revenue.
Contactless payment methods surged last year with the pandemic and consumers’ concerns around safety. of smartphone users will use their mobile phone to pay for point-of-sale transactions this year, and that number will surpass 50% for the first time in 2025. Marketing to consumers in a post-pandemic world. June 1 update.
Alternative payment options have surged over the past year and a half after the coronavirus pandemic pushed consumers to be wary about high-contact shopping. In fact, over 45 million consumers will use BNPL this year. Electronics & appliances sales have remained relatively steady since last summer at around $7 billion each month.
That means total retail sales growth will amount to 2.5% Even as government mandates and consumer comfortability with in-store shopping fluctuate, we can anticipate that consumers’ preference for digital won’t go away. By 2025, ecommerce sales will surpass $1.6 of total retail sales. trillion to make up 21.8%
Our executive holiday guide for 2021 reveals key insights to prepare your brand to thrive, like the 4 crucial components of a successful holiday strategy & strategic targeting tips to reach new consumers. Consumers are feeling the most brunt of the impact with delayed shipping times and out-of-stock items. November 4.
Our executive holiday guide for 2021 reveals key insights to prepare your brand to thrive, like the 4 crucial components of a successful holiday strategy & strategic targeting tips to reach new consumers. Latest stats: Consumer electronics + COVID-19. Globally, consumer electronics ecommerce is expected to grow to $343.34
Our executive holiday guide for 2021 reveals key insights to prepare your brand to thrive, like the 4 crucial components of a successful holiday strategy & strategic targeting tips to reach new consumers. How COVID-19 has transformed the furniture & home goods industry. billion in sales last year. September 2.
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