A report by McKinsey found 60-70% of consumers participate in omnichannel shopping by using multiple channels during their shopping journey, underscoring the need for seamless transitions between them.
The booming weight loss drug market presents opportunities for manufacturers and retailers but also risks exploitation, including counterfeit and dangerous products, reminiscent of past health trends.
One of the most prominent and significant tech developments in the retail industry is the introduction of robotics. Today, not only are robots spotted in-store, but many companies are also employing robotic help for back-end processes like delivery fulfillment and storage automation.
The perfect combination of low-cost products, free and fast shipping, and personalized purchase recommendations have helped Temu to successfully replicate the meteoric growth of its sister app, Pinduoduo, in overseas markets.
There’s a lot on the line when it comes to effectively gauging POS ROI. Determining placement and investment tops the list, so knowing how much to spend and where it should go is key.
To remain competitive in today’s market, retailers must prioritize productivity – an area in which AI excels. However, AI’s strength is built on leveraging data. To get the best value out of their deployment, retailers must ensure the information they use is accurate and reliable.
To capitalize on this spend-happy consumer demographic, retailers are investing in AI (70%), social media ads (39%), influencer marketing campaigns (35%), email marketing (33%), and SEO (29%)
40% of consumers now use AI regularly to help with their online shopping, with close to one in five using it as their primary source of information. This is a remarkable change in consumer behavior and one that requires a rapid response from marketing teams.
Inventory is at the heart of operations for many businesses. It’s the key revenue driver for any company selling a product, so effectively managing the incoming and outgoing shipments and staying connected across the sales funnel are essential.
Retail businesses using automation can save around 296 hours annually.
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