Technology

For some time now, many retailers have been exploring the use of artificial intelligence to enhance various aspects of their business, from inventory placement to merchandising assortments. However, the conversation gained renewed momentum in 2023 with the emergence of ChatGPT and generative AI. This increased interest in the potential of AI to transform retail operations…

Artificial intelligence (AI) may be the next big thing, yet most retailers wait on the sidelines, watching what other businesses reap from this new digital technology. It’s not that they don’t want to pursue this new technology. Working in low-margin businesses, retailers understand the value of a technology that can promote significant organizational change and…

Nearly every retailer is heavily investing in improving their online and in-store channels. However, not every retailer is considering the scenarios in which online channels are being used in a retail store. In fact, nearly half (46 percent) of global in-store shoppers reported using a smartphone to enhance their most recent shopping journey. Despite this…

In the rapidly evolving retail landscape, 2024 is already proving to be a crucial year for retailers to improve customer acquisition and retention. Analysts report that global expenditures on digital transformation initiatives will reach $3.4 trillion by 2026, with software innovation being the driving force behind trends like immersive shopping experiences, redefining the in-store experience,…

Since Amazon Echo’s 2014 launch, conversational commerce has been a hot topic of conversation in retail (pun intended). The biggest question: How can conversational commerce improve shopping experiences? For the last decade, the answer seemed to be it doesn’t. Consumers struggled to leverage these tools to shop, unless they were reordering a previous purchase. Conversational…

In an age where everyday goods cost more than ever, is our appetite for the finer things subsiding? According to Bank of America card data, credit card spending for luxury fashion is down 16 percent year-over-year, the product of a six-quarter-long decline. In October, one of the world’s top luxury retailers saw its stock drop…

Microsoft and Google strategically unveiled their generative artificial intelligence capabilities for the retail industry in time for the National Retail Federation's 2024 Big Show in New York, capturing the attention of the world's leading retailers and industry leaders at this premier event. These offerings, spanning customer engagement, shopper journey experiences, and operational enhancements, align seamlessly…

There's just one problem: consumers might not like artificial intelligence, at least not in an e-commerce context. Recently, we conducted a survey of 2,000 consumers, and its results on this front were unambiguous: 85 percent of shoppers reported that they were not interested in using AI to help make purchasing decisions, and 60 percent said…

In years past, the word “on-demand” has been used to describe videos or streaming services. However, I believe that “on-demand” can now be used to describe the expectations of today’s consumer. Customers now want a shopping experience that's always on, responds in real time, and gives the most up-to-date information. This has created a scenario…

In 2023, the e-commerce industry was largely focused on strengthening brand equity, enhancing the customer experience, and keeping up with the evolution fueled by new platforms and artificial intelligence-based technologies. Notably, the adoption of composable commerce, which refers to building a modular, component-based, cloud-native tech stack, empowered companies to build the agility required to remain…