Remove Consumer Remove Customer Data Remove Trends
article thumbnail

The AI Pricing Debate: Balancing Retail Innovation and Consumer Trust

Retail TouchPoints

The Federal Trade Commission’s recent announcement of an inquiry into “surveillance pricing”—the use of personal shopper data for individualized pricing—has intensified scrutiny of AI-driven pricing practices. Benefits of AI Pricing for Retailers and Consumers For retailers, AI-driven strategies provide several benefits.

Consumer 280
article thumbnail

Retailers: Leverage Customer Data to Navigate Lower Spending Due to Inflation

Retail TouchPoints

forcing retailers to grapple with remaining relevant to increasingly price-sensitive consumers. Illustrating the consumer response to the Fed’s activity, on June 15 the U.S. While retailers can do little to affect world events and macro inflation, they can make use of an often underused asset they already have: customer data.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How to Improve Digital Privacy and Trust Between Consumers and Companies

Retail TouchPoints

is weighing national data privacy and security regulation to help companies keep up with the patchwork of state laws. Consumers are quickly losing trust, and companies must act swiftly and responsibly to restore it. This happens in an environment where consumer trust is already fragile. It doesn’t have to be this way.

article thumbnail

NRF Big Show to Spotlight Innovative Consumer Products and Workforce Solutions

Retail TouchPoints

New to this year’s event is the Consumer Product Showcase , offering SMB brands the opportunity to show off innovative customer-facing products. Get the Skinny on 2023 Trends. Additionally, Lowe’s Marvin Ellison will be honored with the NRF 2023 Visionary Award. Taking place January 15-16 from 10 a.m.

Consumer 270
article thumbnail

How Enterprise Modernization and Artificial Intelligence are Charting a New Course for the Consumer Industry

Retail TouchPoints

The latest Consumer Price Index (CPI) data highlights a significant deceleration in inflation, now standing at half of last year’s peak. In response to this unpredictable economic landscape, consumers have recalibrated their shopping habits, demanding businesses to exhibit a newfound agility and innovation.

Consumer 229
article thumbnail

Top 10 Retail Trends to Watch in 2024

RETAIL MANAGEMENT SOFTWARE

As we step into 2024, the retail sector is undergoing significant transformations in technology, supply chain dynamics, and consumer behavior. The initial crucial step involves examining current trends and formulating adaptive strategies. Here are the top innovative retail trends to watch in 2024.

article thumbnail

5 Innovative Retail Display Trends to Watch in 2024

365 Retail

As the retail industry evolves, physical display trends are essential for capturing customer attention and driving sales. In 2024, several innovative trends in visual merchandising and physical displays are set to transform retail environments. Here are five key trends to watch out for.

Retail 104