Customer Data
In this episode of Retail Right Now, Total Retail's Ashley Chiaradio and Kristina Stidham discuss 2020 holiday retail predictions, as written in a recent Total Retail article by Michael Osborne, president and CEO of SmarterHQ. Despite all the uncertainty retailers are faced with, the article outlines three trends that retailers should expect and capitalize onโฆ
Look at how a robust software solution identifies stores in greatest need of a visit and โprescribesโ actions for store operations.
While COVID has been an โunprecedented disruptionโ for business and consumers, itโs clearly been an accelerant for existing trends. For retailers, this includes โRetail Darwinism.โ Retailers filing for bankruptcy is nothing new, but regardless of a vaccine or another โunprecedentedโ event, failure to understand the context that made COVID exacerbate retailโs challenges will only leaveโฆ
In part one of this multipart series, it was clear that L'Orรฉalโs e-commerce partnerships are a long-term strategy for improving the customer experience, which will ultimately lead to increased return on investment. In the second part of this series, I detail how L'Orรฉal is using technology to improve data transparency, as well as how theโฆ
States moved into lockdown mode when COVID-19 made its appearance in the U.S. back in March. And with that, business moved digital. However, many didnโt realize some of the ramifications of moving digitally so quickly, particularly with regards to online fraud. Now, as the country has begun its reopening, how physical businesses and stores approachโฆ
As e-commerce is expected to account for 22 percent of global retail sales by 2023, all brands must find new ways to elevate their digital presence. Smart brands need to evaluate their go-to-market strategy so that they get a complete picture of their customers' shopping journeys by analyzing offline and online customer sentiment. These typesโฆ
Data security is playing an increasingly important role when it comes to the retail industry and its day-to-day operations. It's especially important for retailers as it embodies customer and payment transactions, data entry, and houses inventory and personal information throughout your entire infrastructure. While security is currently not a top priority for retailers, many ofโฆ
Consumer packaged goods (CPG) companies should be eager to reclaim the customer relationship from retailers and innovate through strategies such as direct-to-consumer e-commerce, especially given heightened urgency resulting from COVID-19. Strategically collecting and understanding customer data creates value for all parties through direct feedback on consumer behavior. Consumers are better understood and served, while CPGโฆ
Over the past couple of years, data privacy has been a focal point among executives and government leaders. In the wake of major scandals involving the likes of Facebook, officials have enacted measures like GDPR and CCPA in an effort to curb the mishandling of data โ and give peace of mind to customers about their personal information.โฆ
The retail experience was undergoing a transformation even before the current pandemic forced massive changes in shopping behavior. A 2019 survey revealed that 92 percent of 1,400 retail leaders identified "reinventing the customer experience" as their top business priority. However, with the new reality weโve all been forced into, the stakes for retailers are higherโฆ