It’s rare that a new technology draws as much fevered interest as ChatGPT, but then again an OpenAI chatbot that speaks and writes full paragraphs, writes college essays, and de-bugs and explains code fixes doesn’t come along every day. Most conversational chatbots today aren’t as advanced as ChatGBT, even with its many limitations. Even so,…
John Nash
Unwanted inventory and a higher demand for low-cost items forced prominent retailers to adjust their earnings forecast and miss their estimates, causing the cancellation of billions in orders and heavy markdowns. Chalked up by one CFO as a short-term fix to avoid longer-term pain, the strategy nevertheless indicates that many large retailers don't understand their…
It often seems as if retailers will try anything and everything to cultivate brand loyalty. More rewards. Steeper discounts. Lower redemption thresholds. The one constant of loyalty programs is change. Retailers continually analyze programs to determine what’s most effective in building a loyal customer base. New research from Dynata, in a survey commissioned by Redpoint,…
New research from The Harris Poll, in a survey commissioned by Redpoint Global, showed a pronounced gap between how marketers and consumers rate the ability of brands to deliver an “excellent” customer experience (CX). While a majority of marketers (51 percent) rated their ability as excellent, just 26 percent of consumers agreed. Consumers rated retailers behind…
The November partnership between Target and Ulta Beauty exemplifies how retail disruption in 2020 forced brands, particularly brands in niche segments, to rethink go-to-market strategies in the wake of fewer in-store visits, declining sales, and consumers’ increasing preferences for contactless interactions. Like many retailers, Ulta was hit with store closures, experiencing a 27 percent year-over-year…
Superior customer experience (CX) has long been understood by marketing teams as a driver of new revenue and business growth. However, brands must now re-evaluate strategies for meeting a shifting set of customer expectations. The ever-changing consumer is reflected in a new study from the U.S. Commerce Department, which found that e-commerce sales in Q2 2020…
Recent data found that nearly 70 percent of shoppers have made multiple buy online, pick up in-store (BOPIS) purchases, and over half have decided where to buy a product online based on whether they can pick it up in-store. BOPIS continues to grow in popularity among consumers, and for good reason — it combines the…
COVID-19 has changed the way consumers behave and therefore how businesses operate. Many were forced to adapt essentially overnight to digital channels. In fact, Microsoft’s CEO reported experiencing two years of digital transformation in two months. This was also the case for many retailers, both e-commerce and storefront-centric businesses. These sudden behavioral changes have exposed…
Whether you anxiously wait all year or dread the first sign of festive decorations, it’s inevitable: the holiday season is approaching and with it, the shopping rush. As consumer preferences and behaviors continue to evolve, brands and retailers need to work harder to keep up — constantly adapting marketing strategies to win over shoppers. So,…
Gone are the days of the traditional path to purchase, where customers followed a linear track, considered a handful of brands, and narrowed choices during an evaluation phase. A plethora of interaction points across smart devices and channels coupled with unprecedented consumer choice has made today’s shopper more empowered than ever — and turned the…
The modern customer journey involves an ever-expanding list of touchpoints as consumers turn to a slew of phones, tablets, smart speakers and in-store experiences to complete their path to purchase. They also may use a combination of websites, mobile apps, digital assistants and social media networks across those channels. Despite this proliferation of touchpoints, customers…
