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Generative AI in a New Retail Era: 3 Areas to Focus on for Immediate Impact

Retail TouchPoints

In particular, generative AI is revolutionizing the shopping landscape to create more personalized and memorable experiences for consumers. Specifically, technology like AI-enabled chatbots, messaging apps and other automated technologies are helping brands communicate directly with customers in a more natural way.

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Lesson from APAC: Social Commerce is Not One-Size-Fits-All

Retail TouchPoints

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.

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5 Reasons Why Your Business Should Focus on Customer Data

Retail TouchPoints

But today, when technology gives us the capability to make virtually everything measurable, moving from data to insights — and ultimately to meaningful action — is where the true challenge lies. Today, every single variable in customer behavior can be utilized to decipher even the most nuanced preferences. Adapt your offerings.

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The Real Price of a Data Breach in Retail

Retail TouchPoints

As digital operations become more complex and cybercriminals launch increasingly sophisticated phishing and malware attacks, data breaches have become common occurrences. For retailers and consumer businesses, a surge in data breaches presents difficult challenges. million last year. million and $3.48 million, respectively.

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How Retail Businesses Can Use Customer Data to Enhance Targeted Marketing

Retail TouchPoints

in March 2020, consumer buying behavior began shifting. In addition, as the popularity of online ordering and delivery continues to skyrocket, marketers need to rethink how they communicate with and market to consumers. In order to do this, retailers need to leverage valuable consumer data to create a more targeted marketing strategy.

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Holiday Shopping Trends and Payments Innovations: Experience as Competitive Advantage

Retail TouchPoints

This is an opportunity to not only capture share of wallet but also build lasting customer loyalty and trust. Payments technology is central to the shopping experience. Innovations like biometrics and tap-to-pay have transformed how, when and where consumers shop. Ecommerce offers convenience, variety and competitive deals.

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Answering the $100 Billion Question: How Can Retailers Combat Refund Fraud?

Retail TouchPoints

With the rise of ecommerce, direct-to-consumer (DTC) retailers are particularly vulnerable as their online-only presence provides fertile ground for fraudulent activities. Data analytics plays a crucial role in identifying and preventing refund fraud. That’s where behavioral signals and location intelligence become crucial.

Retail 278