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Welcome to the world of retail returns, an expensive, cumbersome yet essential part of the industry. of all purchased goods were returned to retailers. of all purchased goods were returned to retailers. In a report from Radial, the average return costs retailers an estimated $27 on a $100 ecommerce order.
The retail industrys rapid adoption of generative AI technologies will continue in 2025. Throughout 2024, many retailers moved gen AI projects from pilots into production. In 2025, retailers will scale these AI projects across the enterprise and embed the technology into core operations of their business.
With the holiday season just concluded, the challenge of managing merchandise returns is a reality for many retailers. According to the latest data from the National Retail Federation (NRF), merchandise returns are projected to reach an astounding $890 billion in 2024, accounting for approximately 16.9%
With programmatic spend increasing and the platforms themselves launching more advanced services for advertisers of all sizes, there has never been a better opportunity for smaller retail media networks (RMNs) to compete with their larger (and until now) dominant cousins.
Business models have been slow to adapt to the shift to digital commerce, leaving brands to struggle to match customer experiences to the changing retail landscape. The reason for the struggle: an inflexible technology stack.
Consumer expectations are at an all-time high, and retailers need to ‘wow’ customers at every single touch point or risk losing them. Achieving this is easier said than done: without data-centricity, enabling technologies and a digital-first company culture, creating a cohesive omnichannel experience is difficult (if not impossible).
Delivering a smooth and frictionless post-purchase experience should be a top priority for every retailer. The post-purchase experience in retail refers to the interactions and elements that follow a customers completion of a transaction. How can Retailers Improve Post-Purchase Using an Order Management System (OMS)?
The retail industry holds influence above many others. It’s almost always the first to embrace new waves of innovation, test and deploy new technologies, and integrate them into their businesses to create new, dynamic experiences to benefit customers, employees and ultimately — ROI.
Our customers rely on us for the freshest, highest quality food and groceries, and now, with Ubers technology and delivery expertise, we can offer them the same exceptional products they love faster and more conveniently than ever. Uber Eats has focused on expanding its retailer network.
Welcome to Retail 4.0. This is the land of opportunity where retailers connect with shoppers and drive sales in a way like never before. With this eBook, you’ll learn about the advanced technologies that are available to create a seamless integrated omnichannel experience.
As the holiday shopping season approaches, retailers face increased pressure to facilitate a seamless and secure shopping experience. Payments technology is central to the shopping experience. How can retailers update their payments systems to meet rapidly changing consumer behavior during peak demand?
Heres what I discovered about Amazons latest wave of grocery retail development: First, a Little Fresh History Those of you who have followed the Amazon grocery saga know that the tech giant has struggled to find its footing in this category since its 2017 $13.7 billion acquisition of Whole Foods. Inside a new Amazon Fresh.
gStore benefits our associates and customers alike, said Greg Fancher, EVP of IT and Chief Information Technology Officer at PetSmart in a statement. gStores capabilities help PetSmart fulfill our vision of providing a world-class omnichannel experience.
Supermarket chain Hy-Vee is continuing to build out its retail media network, RedMedia , through a new partnership with in-store retail media solution Grocery TV. ” Hy-Vee joins a growing list of more than 100 retailers who partner with Grocery TV across the U.S., The partnership will go live in February 2025.
Along with the company’s top product experts, CEO Raj De Datta will provide an exclusive look at the company’s latest AI innovations reshaping the omnichannel experience. Don’t miss out on this exciting opportunity to connect with fellow industry leaders and explore the latest trends in retailtechnology.
The pace of technological change — as well as consumers’ increasing demand for always-on-shopping, anytime, anywhere — has left some retailers struggling to innovate digitally to meet customers’ evolving wants and needs. In a recent McKinsey study , digital leaders in retail banking saw a 19.3% MACH helps them do it — and fast.
Gary Hawkins has been enmeshed in the retail industry for nearly three decades. Every step of the way, he has provided the industry with timely and thought-provoking content, educating the market through works like Building the Customer Specific Retail Enterprise ; Customer Intelligence ; and Retail in the Age of I.
Static shelves are morphing into dynamic, interactive shopping hubs, bridging the physical-digital divide in retail. As the holiday rush looms, retailers face a critical challenge: meeting the demands of tech-savvy consumers who expect seamless, efficient and personalized shopping experiences that combine digital and physical aspects.
Davids Bridal is putting Kelly Cook, its current President of Brand, Technology and Finance, into the CEO seat starting April 1. However, her responsibilities quickly expanded beyond marketing and customer experience, including driving the brands loyalty initiatives, into technology innovation and finance.
Associates have to be omnichannel fulfillment specialists. The least we can do is set them up for success with the right technology. If you expect your associates to be retail superheroes, here are four things to look for when selecting a POS solution. And think about how true that is in a retail setting. Probably not.
More broadly, technology infusion is driving tighter integration when it comes to next-generation ecommerce, which means that discrete capabilities such as search functionality and inventory visibility will become increasingly interconnected.
Two digital-first brands, Misen and ModCloth , are partnering with Cart.com to improve their omnichannel fulfillment and logistics operations. The vintage fashion retailer will use Cart.com’s third-party logistics solutions and outsource fulfillment capabilities out of the solution provider’s New Jersey facility.
The retailer aims to create a consumer-driven demand engine by growing its ecommerce operations while adjusting its global operations, including halting a planned expansion into Japan. Dillon highlighted Foot Locker’s omnichannel presence , loyalty program and overall digital marketing strategies as the main areas of focus.
But the retailtechnology (and wine) enthusiast in me shudders at the idea of cases of wine being laid to waste, especially when data-driven technologies could easily be deployed to help Bordeaux bounce back from its Merlot-est ever sales record.
Unlike B2C eCommerce, which targets consumers, B2B eCommerce connects wholesalers with retailers, manufacturers, or other business clients via online platforms. Streamlined Operations : From order processing to delivery tracking, technology reduces inefficiencies.
As the NCAA’s Official Candy Partner for the past 16 years, Reese’s is a consumer favorite; more than half of NCAA basketball fans, about 30 million in total, also are Reese’s customers, according to Stephanie Berman, VP of Retail for The Hershey Company.
However, there is some good news for brick-and-mortar retail and malls: Coresight Research recently reported that foot traffic at top-tier malls was up 12% on average in 2022 compared to pre-pandemic 2019 levels, while traffic at lower-tier malls was up 10%. Census Bureau reports first-quarter 2023 ecommerce sales at $272.6
The UK retailer already has deployed the changing room checkouts in 28 refurbished stores, including its Fosse Park flagship in Leicester, and plans to have the technology installed in more than 100 stores by 2028. If you want to be served by a colleague, that’s absolutely OK and you always can be.
Wayfair has launched the Digital Design Studio, a patent-pending technology that aims to bring the best of online and in-store shopping together. The technology will debut at the Dedham, Mass. ” The technology could help Wayfair on its path to profitability, though the retailer still has some work to do.
Retail has always had its share of mystique. But today, a new era of real-time analytics – especially data drawn from fitting room activity – is demystifying the process and helping retailers understand the nuanced stories behind every try-on and purchase. Lets unpack how.
Retail is undergoing a seismic shift, driven by technological advancements and changing consumer expectations. In this comprehensive guide, we will explore the core components of retail digitization, highlighting its transformative benefits, potential challenges, and provide practical steps to help you step up your digital game.
Last summer, Walmart executives coined a term to describe retails new era: Adaptive Retail. Simply put, Adaptive Retail is any commerce experience that brings consumers what they want, wherever and whenever they want it. Neither, by the way, is Amazon , which also is working on gaming integrations of its own.)
Best Buy is planning to evolve its operating model with a greater emphasis on smaller stores as the retailer plans to close 20 to 30 large-format stores, implement eight experiential store remodels and open approximately 10 additional outlet stores over the coming year. Comparable sales fell 9.3% as overall revenue dropped to $14.7
73% of retailers report that downtime during high volume moments would have serious consequences for their business. The rise of AI, cloud technology, and composable architectures leaves no room for complacency. Because AI is at the forefront, and technology lifecycles are shrinking. Otherwise, they risk being left behind.
Editor’s note: As retail interfaces and systems continue to evolve, the way we design retail experiences to user needs and behaviors is also transforming. For the past decade or so, big-name retailers have turned to designers and experiential agencies to create multisensory atmospheres in stores. 74% of U.S.
Artificial intelligence (AI) has been a headline topic at the National Retail Federations annual Big Show , and NVIDIA is undoubtedly one of the companies leading the industrys innovation in this sector. Generative AI has completely reinvented ecommerce, according to Azita Martin, VP and General Manager of Retail & CPG for NVIDIA.
Walmart ’s burgeoning slate of white-label retail tech will be made more widely available via a new partnership with Salesforce. Retailers will now be able to plug into Walmart Commerce Technologies’ Store Assist local fulfillment services and the Walmart GoLocal delivery solution through the Salesforce AppExchange.
The youth-oriented retailer chose the Nedap solution for its ability to help improve inventory accuracy and enhance omnichannel fulfillment capabilities, including increased usage of buy online, pick up in-store (BOPIS) functionality. The chainwide rollout is expected to be completed in Q1 2024.
It’s a profound and weighty question to ask, especially with so many technologies evolving so quickly. During the Retail Innovation Conference & Expo, executives from ShopSimon (formerly Shop Premium Outlets), Rebag and Sune shared their answers by delving into the technologies and strategies driving their companies’ priorities.
Disney Advertising and Walmart ’s retail media division Walmart Connect are teaming up to bring retail media insights to Disney’s streaming TV platforms, including Hulu and Disney+ , for programmatic advertising campaigns and measurement. Approximately 145 million customers shop with us online and in stores weekly.
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Retailers that have recently launched their own retail media businesses should learn from what the established leaders already do. In this way, retailers will act more like media houses and thus engender the trust of CPG advertisers. retailers all offer.
UK retailer Co-op is working with Walmart Commerce Technologies to bolster its “quick commerce” operations. The Walmart Commerce Technologies partnership is part of Co-op’s broader goal of expanding its quick commerce operations.
Technology is at the forefront of everything we do from an omnichannel perspective across the globe, and working with Zebra Technologies has been a game-changer for us,” said Jonas Stillman, Senior Director of Omnichannel Operations at Office Depot in a statement.
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