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30-Year Retail Veteran Reveals how to ‘Thrive in an Exponential World’

Retail TouchPoints

I drew on some of my experiences as a retailer, focusing on loyalty and using customer data, Hawkins said in an interview with Retail TouchPoints. While educational opportunities and training are important, team members should also experience the technology on their own so they can realize the benefits.

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AI Remains Transformative Within the Ecommerce Space in 2024

Retail TouchPoints

AI ’ s Current Impact on Retail In many ways, AI enables ecommerce companies to understand customers more deeply, engage them intelligently, fulfill demand efficiently and modernize the shopping experience. Irrelevant, redundant or correlated data reduces models’ abilities to uncover meaningful patterns. The end result?

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Six Principles for Redefining Retail with Responsible AI

Retail TouchPoints

The role of such a committee — consisting of individuals from different departments and backgrounds — extends from supply chain management to customer interaction. An AI committee can actively oversee the ethical deployment of AI in areas like personalized shopping experiences and customer data usage.

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Meet Zam: Your Marketing Assistant

Optimizely

Zam is a data science-powered marketing assistant that lives inside the Zaius B2C CRM platform. Zam is constantly analyzing all of your customer data and serving up predictive and prescriptive insights that — with one click — you use to interact directly with the right customers and offer the right products at the right time.

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4 Ways Retailers can Leverage Generative AI to Drive Revenue and Productivity

Retail TouchPoints

Unlike traditional AI that is used to detect patterns and make decisions, generative AI models use neural networks that are trained with massive amounts of data to create new and original content — all from just a few typed questions from a person. Companies are racing to adopt it. Automated catalog and product descriptions.

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12 Proven Customer Retention Strategies in Retail

RETAIL MANAGEMENT SOFTWARE

Personalization can take many forms, from customized product recommendations to special offers based on past purchase behavior. How to Implement: Use customer data to send personalized emails or offers, such as birthday discounts or promotions, based on their purchase history.

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The Data Dilemma with Retail Pricing and How to Untangle it

Retail TouchPoints

Like running a marathon, some may never take the first step if they find the training involves nearly a year of training, the right type of shoes and a schedule that will allow for big chunks of the week to run and work out. How much data do I need to shift support and drive my overall pricing strategy?

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