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News & Trends

Retail Brands Have Missed the Mark on NFTs: Three Ways to Get it Right Going Forward

June 1, 2023

Via: Retail TouchPoints

Retailers never get a rest: there’s always a new digital advertising platform to master. Today, NFT campaigns are the emerging medium. Though standards are scarce, fraud is rife and big wins are few, many retail brands have already tested the […]


News & Trends

Are Retailers Ready For Remote Workers?

June 1, 2023

Via: RetailWire

The rise of remote working presents opportunities for local retail but may require adjustments to new shopping behaviors. For c-stores, for instance, fewer workers heading back and forth from work is negatively impacting both the breakfast daypart (6 a.m. to […]


Customer Engagement, Customer Experience

Turning Criticism into Opportunity: A Guide for Merchants to Deal with Negative Online Reviews

May 31, 2023

Via: Retail TouchPoints

As a business owner, negative reviews on your product or service can be distressing and damage your reputation and revenue, regardless of whether you are a beginner or an experienced entrepreneur with multiple exits. The key is to remember that […]


Stores

Retail Store Openings and New Concept Trends

May 31, 2023

Via: RIS News

A slew of retail store expansion plans have been announced this spring, as well as some new concepts from retailers. One highlight from the roundup below: Lowe’s is broadening its footprint with a new one-stop shop concept in up to […]


Stores

Big Lots reports ‘disappointing’ quarter, plans store leasebacks

May 30, 2023

Via: Retail Dive

The three months ending April 29, were “clearly a disappointing quarter,” Thorn said. A contributing factor to the down quarter, according to Thorn, was the abrupt closure of United Furniture Industries in November. That company was Big Lots’ largest vendor. […]


Customer Engagement, Customer Experience

Meet the Next Generation of Shoppers: 3 New Shopper Archetypes Retailers Should be Aware of

May 24, 2023

Via: Retail TouchPoints

COVID, Brexit, and more recently the war in Ukraine, along with a cost-of-living crisis have caused 80% of shoppers to change their purchasing behavior. Unsurprisingly, this has dramatically changed the shopper marketing landscape, and as a result, retail brands are […]


E-commerce, Retail Types

3 Profitability Strategies for E-commerce Retailers in 2023

May 24, 2023

Via: RIS News

E-commerce is dealing with a bad hangover. We just left a two-year period where practically every category of retail saw unprecedented growth and the bar was raised for everyday e-commerce experiences. Now, merchants across industries are struggling to adjust to […]


Stores

Digital Brands Group sees potential for 50 retail stores

May 22, 2023

Via: Retail Dive

Digital Brands Group — which also owns DSTLD, Stateside, Harper & Jones and Bailey 44 — is looking toward physical retail expansion and affiliate sales to fuel its growth this year. “We believe both channels will increase our e-commerce and […]


Retail Types, Stores

Does Retail Need a New Approach to Fight Organized Crime?

May 22, 2023

Via: RetailWire

Inventory shrink driven by organized retail crime is expected to reduce Target’s profitability by an additional $500 million this year, the retailer’s CEO Brian Cornell said last week. “The problem affects all of us, limiting product availability, creating a less […]


Customer Engagement, Customer Experience

5 Tips to Improve Retail Pay-Per-Click Results

May 18, 2023

Via: Retail TouchPoints

While retail sales may currently be bouncing back at a rate faster than predicted — increasing by 1.2% between January and February of 2023 — they are still some way behind the comparative period of 2021. To continue on a […]


Customer Engagement, Customer Experience

How to Get the Most Out of Retail Media Networks

May 17, 2023

Via: RIS News

Concerns over an impending recession have forced retailers, brands, and consumers to brace themselves for budget cuts. Whether it’s consumers taking a closer look at their purchases, brands scrutinizing their ad spend, or retailers looking to maximize their profitability, everyone […]


News & Trends

From Retirement to Retail: How Employers Can Support Successful Returns to Work

May 17, 2023

Via: Retail TouchPoints

The economic fallout from the pandemic has had a profound impact on the labor market and society. Worker shortages across industries have created a challenging scenario for countless businesses as they rush to fill job vacancies while still ensuring the […]


News & Trends

April retail sales see gains, report Commerce and NRF

May 16, 2023

Via: SCMR Editorial

United States April retail sales showed gains, according to data respectively issued by the U.S. Department of Commerce’s U.S. Census Bureau and the National Retail Federation (NRF). Commerce reported that April retail sales—at $686.1 billion—were up 0.4% compared to March […]


Suppliers

Where Are Retail Supply Chain Investments Heading?

May 16, 2023

Via: RetailWire

A Gartner global survey of 499 supply chain leaders taken late last year finds 65 percent anticipate it will be easier to fund new technology investments, with 73 percent of supply chain IT budgets this year to be allocated to […]


News & Trends

How retailers can protect their most important KPIs with a curated marketplace model

May 15, 2023

Via: Retail Dive

Retailers know that increasing online sales is essential to their growth. (It’s projected that by 2026, e-commerce will make up nearly a quarter of total global retail sales.) But certain pain points and challenges in the online retail space hold […]


Customer Engagement, Customer Experience

Will Self-Checkout Tip Prompts Prompt a Tip Backlash?

May 10, 2023

Via: RetailWire

Customers may not be comfortable with payment solutions automatically prompting them to leave a default tip of 20 percent, 30 percent or more when they pay at restaurants and bars after interacting with a server. Now as payment solutions with […]


Customer Engagement, Customer Experience

Shoppers Seeking Comfort and Self-Expression Will Smash the Piggy Bank for a Splurge Purchase

May 10, 2023

Via: Retail TouchPoints

Shoppers are cutting back in the aggregate as they brace themselves for economic headwinds, so the conventional wisdom is that unnecessary “splurge” purchases are on hold. But Deloitte’s For Consumers, Splurges Aren’t Just Lipstick report found that 77% of global […]


E-commerce, Retail Types

Is Mobile Shopping in Stores All About Finding Deals?

May 9, 2023

Via: RetailWire

A new survey finds consumers increasingly using their mobile devices and retail apps to support the in-store shopping experience. The bad news for retail margins is that shoppers mainly use their phones to find lower prices. The Airship survey of […]


E-commerce, Retail Types, Stores

Omnichannel fulfillment obstacles don’t have to hold you back

May 8, 2023

Via: Retail Dive

Most retailers are well aware of the value that omnichannel fulfillment brings: greater customer reach, higher sales volumes, better customer satisfaction and higher customer retention levels. Yet, even though they understand what this approach can do for business — and […]


Others, Tech

Oracle named a leader in retail price optimization applications worldwide

May 8, 2023

Via: Retail Dive

Oracle was recently named a leader in the IDC MarketScape: Worldwide Retail Price Optimization Solutions 2023 Vendor Assessment. The list includes retail focused price optimization vendors and is based on their enterprise-grade pricing capabilities, including strategic pricing across channels leveraging […]