Author: Retailist Team

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.

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.

Advertising, especially in lower-funnel channels, is closely tied to consumer spending during the holidays. In 2023, the economy is healthier, with a 4.9% GDP increase driven by consumer spending on goods. This boosts engagement with digital ads, particularly in search engine advertising and retail media, and even social media ads have improved since Q3. This means the holiday season is looking better for marketers this year.

Influencers engage with fans, but satisfying paying customers is a different ballgame. It involves managing expectations, quality control, handling returns, and customer service. This learning curve is steep, and mismanaging it can lead to public backlash and brand credibility loss.

SMBs have been promised more efficient and profitable business from the implementation of technology. The truth is this promise has not been delivered.