ARTICLES BY THIS AUTHOR
- 7/5/2023
The Cost Implications Of Having Unhappy Customers In A Tight Economy
In the retail industry, customer attrition poses significant financial challenges, particularly during periods of economic constraint. Research suggests that the expenses associated with acquiring a new customer are approximately five times higher than those involved in retaining an existing one. Moreover, dissatisfied customers possess the ability to disseminate their unfavorable encounters, resulting in potential revenue loss and a compromised brand image. - 7/5/2023
Foot Locker VP, Automation and Integration Vivek Goel Discusses Next Stage of Optimization at Inaugural Event
We are excited to announce that Vivek Goel, Foot Locker VP, Automation and Integration, will be featured at the inaugural Value Chain Tech. Goel will be discussing how artificial intelligence (AI) can enhance supply chain performance across retail channels through learning algorithms to analyze data. - 6/30/2023
How Generative and Visual AI Are Forming the Foundation of Shopping 2.0
With the release of ChatGPT in November 2022 and the resulting hype surrounding generative AI, the spotlight is back on artificial intelligence – but this time, the attitude in the retail industry at large has changed. Everyone is scrambling to find out how AI can take their business to the next level. - 6/29/2023
Composable Commerce Revolutionizes Fulfillment
Composable commerce – or the ability to “compose” specific applications to augment existing e-commerce platforms – has gained a lot of attention on the front end. The ability to tailor offers based on shopper location or demographics; improving the in-store experience; and personalized online shopping experiences have demonstrated the power of microservices to augment existing e-commerce tools to meet consumers’ evolving expectations and differentiate retailers on the front end. - 6/22/2023
Privacy Is Only One Element Complicating Modern Data Applications
Here are the top four challenges retailers are facing today in applying data-driven solutions. - 6/21/2023
Leveraging Technology to Create a Better Customer Experience
Whether it’s online or in-store, retailers will need to continue to look for ways to innovate the retail customer experience to stay competitive in the market. This includes clienteling, omnichannel selling, and robust remarketing. - 6/16/2023
Why Multi-Location Retail Success Depends on Brand Intelligence
Retail brands that juggle anywhere from tens to hundreds to thousands of brick-and-mortar stores will run into a unique challenge when it comes to creating a strong online presence and connecting personally with their customers. How can a multi-location retail enterprise keep up with and manage the online chatter of countless customers visiting multiple brick-and-mortar locations? The answer can be found in hyper-local, AI-powered brand intelligence. - 6/13/2023
Building a Smarter Supply Chain: 3 Ways AI is Streamlining Operations
Supply chain management is a critical aspect of the retail industry and is crucial to your company's success. Advancements in artificial intelligence have made it possible to streamline your supply chain operations, making them more efficient and cost-effective. - 6/9/2023
The Inflation Crisis is Reshaping E-commerce: Six Key Takeaways From Recent Consumer Data
Throughout the world, consumers are making tough spending decisions as they navigate inflation and a cost-of-living crisis. In its recently released report, Consumer Preferences in the Digital-First Economy, Mirakl surveyed over 9,000 global consumers across 16 countries in order to understand how the economic downturn is shaping purchasing decisions.