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The AI Pricing Debate: Balancing Retail Innovation and Consumer Trust

Retail TouchPoints

Artificial intelligence is rapidly transforming how retailers set prices, sparking public debate and drawing regulatory attention. This development follows efforts by major brands like Wendy’s and Walmart to implement real-time pricing technologies, raising questions about AI and consumer protection, privacy, and fair practices.

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5 Ways Retailers Can Tackle Wavering Customer Loyalty

Retail TouchPoints

New research from PwC has found that three in 10 customers are more likely to try a new brand — and that number is even higher among younger consumers. But winning (and keeping) customersloyalty is no longer confined to programs and points. Collect and Leverage First-Party Data .

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Balancing Customer Loyalty in an Age of Growing Business Costs

Retail TouchPoints

But the resilience of the American consumer prevented an all-out economic disaster. Time and time again, consumers kept the economy chugging along despite the bleak forecasts from leading economists. Treasury, but even as that money faded, lockdowns hurt retailers and inflation took hold, consumers took it in stride and kept spending.

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The New Retail Frontier: Where Sustainability Meets Customer Loyalty

Retail TouchPoints

That is why it’s no surprise that when surveyed , 71% of retail leaders indicated that they were prioritizing sustainability in their business. To keep up with this rising demand, brands need to align themselves with green practices, especially as more consumers today are basing their purchase decisions and brand loyalty on company values.

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Strengthening Customer Loyalty in Today’s Market

Retail TouchPoints

food retail industry comprises nearly 63,000 grocery stores and supermarkets, which amounted to $765.98 To stay competitive, retailers need to create and maintain loyal customers; 43% of customers spend more on brands to which they are loyal. The most common retail loyalty programs offer cash back or points incentives.

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Cracking the Code of Customer Loyalty in 2024 Means Prioritizing Customer Lifetime Value Over Speed

Retail TouchPoints

Success in ecommerce, and retail in general, depends on the latter. On the other hand, traditional retailers must reinvent their playbook to keep up with a customer experience driven by tech that evolves quickly enough to meet consumers’ rising expectations.

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Balancing Privacy and Personalization: The Key to Customer Loyalty 

Retail TouchPoints

Retailers are facing a myriad of challenges, from tightening budgets, smaller profit margins and financial constraints to clunky legacy infrastructure and increasing competition from major online stores. This is before they even address the issue of managing customer data. Why it’s a Win-Win for the Business and the Consumer.