With the holidays fast approaching, new research from Miconex shows that the majority of Americans are keen to support local retailers. 24% will be spending up to $1,000 during the holidays, and 78% worry about finding the perfect gift.

Millennials and Gen Z consumers are at the forefront in embracing financial services from their favourite brands. For businesses, incorporating financial services into their offerings presents a compelling proposition for brands as a path to increase engagement, conversion and repeat visits.

Entrepreneurs who incorporate artificial intelligence technology into their e-commerce operations will achieve a significant competitive advantage.

The standout concern for many retailers this Black Friday is shrinkage. More specifically, theft. With nearly 80% of US brands saying organized retail crime is a risk that has become a priority in the past year for them, increased footfall in-store only enhances the potential for shoplifting.

According to our poll, more than two-thirds of retailers say the ‘double whammy’ of spiralling interest rates and inflation will hit peak trading in the run-up to the festive period. We surveyed hundreds of retailers of all sizes.

By analyzing things like feedback, ratings, rankings, and social media posts, AI is delivering data that enables brands to get a more accurate reading of their reputation and consumer sentiment.