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One of the core values of Dick Schulze, Founder of Best Buy , was learning from challenge and change a prescient insight from a retail leader in the 80s who realized even then that in retail, especially in consumer electronics retail, there would be constant change. That’s not the tagline; that is literally why we exist on the planet.
In the world of retail, staying ahead means embracing innovations that transform shopping and commerce into an experience that’s faster, smarter and more satisfying for customers. For customers. These benefits lead to smoother operations and enhanced customer experiences, which in turn drive sales and satisfaction.
These platforms have revolutionized the way consumers shop, offering convenience, variety and competitive pricing at the click of a button. With these cheaper options out there, many consumers are opting for cost-effective dupes that take longer to arrive instead of buying directly from brands themselves.
It’s all part of an ongoing paradigm shift in ecommerce — not only have consumers bought in to the idea of 3P commerce, but brands and retailers have as well. In fact, 40% of the companies surveyed by Rithum said that 3P commerce models help them reach a larger consumer audience.
Speaker: Ashlee Aldridge - Reach Partners LLC | Bill Mirabito - Chameleon Collective | Ronak Shah - PSA Retail & CPG, Amazon Web Services | Wayne Teigen - Pivotree
From social commerce to BOPIS, the name of the game is to meet and sell to customers wherever they are, through multiple channels. In this webinar, four commerce retail experts will discuss: What consumers want to experience more of in 2023. The cool new innovations shaping the commerce industry.
There are many reasons why consumers choose the products they buy and the brands they buy them from. However, according to the latest research from Marigold’s recently published Relationship Marketing Trends: Brand Rankings Report , there are things consumers look for beyond price that drive purchase decisions. That’s called loyalty.
consumers abandon a purchase and stop accessing an online service because they can’t remember their passwords 4.76 Retailers can avoid this problem by tapping into customer authentication psychology. It’s because customers actively reject change. As a retailer, your login process affects customer behavior and loyalty.
But where is the consumer in all this? While businesses are moving to experiment and learn more about agentic AI, consumers are not. Business-oriented, not consumer-oriented, use […] Now, businesses are all about agentic AI (not to be confused with AI agents), channeling the brouhaha of ChatGPT in 2023.
Rather than actively seeking out products, younger consumers more frequently discover them through engaging, immersive content on social media platforms like TikTok and Instagram. How do you create experiences that spark consumer interest before they know they want (or need) your product?
2025 is right around the corner, and with it comes a new wave of consumer expectations, competitive pressures, and operational challenges. Success lies in finding the balance between operational flexibility and creating experiences that keep customers coming back.
According to Gartner, more than three-quarters of supply chain leaders are being asked to improve their customer experience (CX) strategies. A customer-centric approach to supply chain management is challenging; it requires a deep understanding of consumer expectations and behaviors, not just today but also for the foreseeable future.
The digital marketing funnel from search to consideration to purchase is fragmenting into exploration across more varied digital channels, making it more challenging to capture a consumers attention and lead them where we want them to go. While not a hard and fast rule, AI tools tend to go for the more established brand over the upstart.
That is why Cozy Earth has adopted more direct touch points with founder Tyler Howells and more data-driven marketing: to help consumers feel personally connected to the person behind the brand, according to Davis. However, doing so via more competitive and space-constrained touch points, like email or SMS, is a bit more challenging.
Dicks Sporting Goods is expanding its Dicks Varsity Team content creator and influencer program by inviting consumers who have a passion for both sports and social media to join.
E-commerce businesses depend on reliable shipping to keep their customers happy. Customers expect online orders to be delivered quickly and at a low cost to them, so when major carriers are bottlenecked, it can directly impact your business's reputation. But all too often, shipping costs become prohibitive, eating into profit margins.
Earlier this year, Google added compelling new features to Google Wallet to help consumers get more out of their mobile wallet passes. With this update , developers can send wallet notifications, letting consumers receive notifications about any updates to cards or passes stored in their mobile wallet.
Given that different cannabis products can produce a wide range of effects among consumers, one of the biggest challenges facing cannabis retailers is matching the right product with the right customer. The AI-powered data-driven budtender can [answer customer questions such as] Whats a good flower for sleep?
Welcome to the second installment of Forrester’s Generative AI Consumer Outlook Quarterly Blog Series! With GPT-4 Turbo’s launch in late 2023, Google’s announcement of Gemini, and Microsoft Copilot’s Superbowl ad, consumers are now faced with plenty of options for consumer-facing gen AI tools. But as new […]
Originally launched in January 2024 , the program has been redesigned specifically for the small- to mid-sized professional customer, giving them the opportunity to earn points on eligible purchases from the first dollar spent at sign-up and offering an intuitive customer experience that mimics the consumer-facing MyLowes Rewards loyalty program.
Speaker: Jenn VandeZande, Head of Digital Engagement Strategy at SAP Customer Experience | Beth Scott, VP, Business Operations - Supply Chain | Nikki Grigsby, PHR, Chief Operations Officer at Syndigo | Levana Wang, Content Creator, Gen Z Expert
So, how can we take on this next, purpose-driven generation of consumers? This webinar will include: What the next generation of e-Commerce customers are looking for. Join Jenn VandeZande, Beth Scott, Nikki Grigsby, and Levana Wang for this insightful and topical conversation on the modernization of e-Commerce tech.
Hindsight Is 20/20 — Foresight Is Priceless How consumers spend, and on what, is of great interest to us; in that data lies kernels of insights that enable brands to shape their marketing strategies to maximize profitable growth and boost total shareholder return.
The retailer, working with Mood Media , has created an experiential retail location equipped with a large-scale LED visual wall displaying curated content, carefully chosen music and even a custom fragrance, White Pepperwood, carrying the scent of the outdoors through the air. It transforms your whole being.
Between the tariff tug-of-war, flailing markets, insanely high egg prices and general twitchiness (as one strategist put it), consumers have gotten a bit hard to nail down lately. Here’s what some of the leading minds in retail say consumers need now. One thing is clear its not AI.
Inflation, cost of shipping, and changes in consumer spending are some of the biggest challenges online merchants face today. Get a thorough analysis of these trends, current customer behavior, and more in Shippo’s latest “2023 State of Shipping Report."
But instead of leaning on rigid policies that risk driving customers away, retailers can use this as an opportunity to rethink returns. Customer-first strategies that not only reduce returns but also boost experience and loyalty. If a nearly 15% return rate sounds high, consider the range of reasons why consumers return merchandise.
Modern consumers expect personalized experiences tailored to their unique preferences, behaviors and needs. Businesses striving to meet these expectations are turning to AI-powered knowledge graphs a cutting-edge tool that connects disparate data points to create a holistic understanding of customers.
As is often the case with poorly understood tech that promises to change the world, consumers worry about its ethics and human impact. Yet a vast majority of these skeptics will use (and love) genAI during 2024, whether they know it or not. Like it or not, know it or not, genAI will seep into […]
The number of returns is growing and managing them is critically important to maintaining margins and customer satisfaction. With the growth in ecommerce and higher consumer expectations for convenience, it is essential for retailers to make returns processes as efficient as outbound fulfillment.
Incorporating generative AI (gen AI) into your sales process can speed up your wins through improved efficiency, personalized customer interactions, and better informed decision- making.
With retail sales bouncing around as the UK economy chugs along, marketers in the sector are seeking the best way to keep their customers happy and prevent them from spending their money in another store. But consumers are demanding in other ways, too. Digital channels are alive with opportunities to dazzle consumers.
Awareness around generative AI (genAI) among consumers is peaking. According to Forrester’s July 2024 Consumer Pulse Survey, only 5% of US online adults and 8% in the UK have never heard of genAI. As awareness peaks and usage creeps, how will consumers engage with genAI in the future?
While policymakers often champion tariffs as a mechanism to protect domestic industries, their ripple effects are far-reaching, inflating costs, disrupting supply chains and, ultimately, burdening consumers. Price-sensitive products suffered a drop in demand as consumers struggled to shoulder the rising cost of tariff-stricken goods.
But what about consumers? I’ll be taking you through how consumers know, feel, and use Generative AI every quarter. Generative AI continues to be the topic du jour, as businesses race to understand the technology for fear of being left behind. Forrester is closely tracking this. And no, this blog post was not written by […]
Speaker: David Nisbet, Everett Zufelt, and Michaela Weber
Yet, within its humble click lay the power to transform a mere visitor into a loyal customer. How do you use the data sitting behind a payment to find the next loyal customer? Once upon a time, in the vast realm of online commerce, there lived a humble checkout button overlooked by many.
1WorldSync’s 2024 Consumer Product Content Benchmark report revealed that 64% of shoppers have scanned a QR code on a product while shopping in-store. With a quick click on a smartphone, these customers have accessed hidden content, exclusive deals and lightning-fast checkouts. The result?
Impulse spending behavior is growing — and companies are finding opportunities both online and offline to entice consumers to add to their basket. Forrester’s February 2023 Consumer Pulse Survey found that roughly one in two of US and UK Gen Z adults report making impulsive decisions when shopping.
This is an opportunity to not only capture share of wallet but also build lasting customer loyalty and trust. Innovations like biometrics and tap-to-pay have transformed how, when and where consumers shop. How can retailers update their payments systems to meet rapidly changing consumer behavior during peak demand?
Certain categories seem to work best with social commerce: Consumer packaged goods (CPG), fashion, beauty, and health and wellness. Cultivating KOCs (key opinion consumers, a.k.a. In addition, South Korean consumers are known for their quick adoption of new technologies. That means less customer data coming to you.
Speaker: Adam Dorfman, Lindsay Harrison, and Erin O'Brien
Did you know that 4 out of 5 consumers use local search and 88% use smartphones for those searches? With that in mind, I think it's safe to say your online presence is the silver bullet of your business. Think about the revenue you could be missing by not prioritizing local search optimization.
In fact, 54% of marketers planned to activate their 2024 holiday campaigns in Q3. But consumers have spoken, and 89% think pre-October is “too early” for brands to launch their Christmas marketing campaigns, according to new data from brand tracking company Tracksuit.
In an era when online shopping is not just a convenience but a way of life, a new menace is plaguing consumers and retailers alike: porch piracy. The situation is particularly dire for younger generations, with over half of Gen Z consumers reporting that they have experienced porch piracy in the last 12 months.
As consumers furiously stock up on everything they need for under the tree and around the table, retail workers — who make up more than one quarter of the U.S. I just ask that the consumers be patient with us. We’re consumers also; we get it. We do our best to make sure we provide for the consumer.
To understand current US consumer financial health, Principal Forecast Analyst Jitender Miglani analyzes key Q2 2024 Bureau of Economic Analysis (BEA) data.
In 2023, we are navigating inflation and its impact on consumer spending, various lasting side effects from the pandemic, and a looming recession in the back half of the year. We must still find ways to be innovative in order to remain at the forefront of our customer's minds.
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