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Luxury retailers power through despite strong dollar, shaky economy
Retailers and brands catering to wealthy customers aren’t entirely immune to the current macroeconomic challenges, which could get even tougher next year if recessionary fears are realized. Still, upper-income households are fairly well insulated from inflation and other financial difficulties, and that’s showing up in the sales figures at higher-end ...
Retail
This Holiday Season Retailers Should Anticipate a Marathon, Not a Sprint
Big businesses are already pushing pre-Black Friday sales events, and experts predict record discounts to come. Here's how to stay competitive.Christmas came early this year.Amazon's Prime Early Access sale is currently underway, marking the first time the Seattle-based retail giant is hosting two Prime Day sales events in one year. ...
Trends
Holiday Retail Sales’ Early Strength Won’t Last
Amazon’s October Prime Days sales and other early-season events got consumers to open their wallets, but those purchases will end up borrowing would-be sales from the traditional holiday-shopping months of November and December, as consumers tighten budgets amid inflation and fears of a slowing economy. While Walmart’s sales are doing ...
Retail Tech
How AI Is Reshaping the Retail Marketing Landscape
It is no secret that AI has revolutionized the retail industry. Since its inception, it has transformed almost every sector of this industry. AI is undergoing improvements every day, increasing the chances of growth for every business utilizing AI. A couple of decades ago, AI was a dream that has ...
Retail
A Brief Guide to Knowledge Management for Retailers
Your customers are easily able to voice their concerns and get a quick redressal of their problems. Added to this, if both the situations mentioned above are dealt with swiftly and with the least effort by the customer, then the chances of your company taking home the award for the ...
Trends
The Future Of Retail Is Phygital
Blending physical and digital retail seamlessly is no easy task. With CX no longer defined by brick-and-mortar stores or online UX alone, retailers must now go phygital - building a consistent customer journey across every physical and digital touchpoint. However, creating this phygital experience is far from simple.Take retail giant ...
Trends
Nearly half of retailers are converting cash registers to self-checkouts: report
Dive Brief:Indicating a shift away from cashiers, a Zebra Technologies survey of 4,200 international respondents found that 82% of retail decision-makers are planning to invest more in technology over the next three years. Almost half (45%) said they are converting more cash register space to self-checkout space, and 43% are clearing ...
Retail Tech
How Voice Of Customer Analytics Can Shape Retail Strategies
Voice of the customer (VoC) is the in-depth process of capturing customer's needs or wants, expectations, preferences, and aversions. And this goes beyond customer interactions, social media, and customer feedback.The quality of the customer experience is a major differentiating factor in standing out amongst competitors – which is just one ...
Trends
These are the biggest marketing challenges facing retail and e-commerce brands in 2023
From connecting consumers throughout the funnel to redefining retail, e-commerce experts from Bacardi, Pandora, VMLY&R and McCann predict what problems brands will face in the coming year.While across the globe economic shifts wreak havoc throughout industries, e-commerce is continuing full throttle, not slowing down any time soon.Digital brands were presented with ...
