E-Commerce

Future-Proofing Your Retail Experience: Wowing the Values-Driven Customer
February 14, 2024 at 12:00 pm

Amidst the rise of artificial intelligence and changing customer preferences, the retail industry is experiencing a significant transformation. This means it's more crucial than ever for your retail business to keep up and provide the best experience for your customers. Value-driven customers seek high-quality service and fair prices for the products they purchase. They often…

Report: Retail Sales Up 2.3% YoY in January
February 12, 2024 at 6:26 pm

Retail sales showed a strong beginning for the year in January, nearly matching December’s busy holiday spending and rising significantly year-over-year, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released today by the National Retail Federation (NRF). Total retail sales were up 2.34 percent unadjusted YoY in January, according to the Retail Monitor.…

What Retailers Can Learn From 2023 Holiday E-Commerce Data
February 12, 2024 at 12:40 pm

After several years of altered consumer behavior and often-conflicting news about the economy throughout 2023, retailers have sometimes found it challenging to understand what’s normal customer behavior now. Regardless of the trends and pre-holiday forecasts, assessing how your store actually performed is the key to preparing for a stronger holiday season performance in 2024 —…

The New Face of E-Commerce Storefronts: Digital Human Avatars
February 8, 2024 at 1:28 pm

Regardless of how clever today’s e-commerce storefronts are, their digital interfaces lack one particular quality: the ability to mimic human expression — and research indicates it’s more than just a makeover. E-commerce and the “digital storefront” have existed for a little more than two decades. In that time, online shopping has come a long way…

Are Consumers Shying Away From AI-Driven Purchases?
February 7, 2024 at 11:45 am

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…

The Velocity Imperative: E-Commerce's Need for Speed
February 5, 2024 at 9:50 am

In the relentless world of e-commerce, speed stands as the linchpin to success. Modern times are defined by the “need-it-now” attitude, shorter attention spans, and a surge in TikTok and Instagram shopping experiences. As consumers demand faster interactions, the urgency for swift e-commerce transactions has never been clearer. A core challenge for e-commerce merchants is…

Generative AI for E-Commerce: 5 Top Trends for 2024
February 1, 2024 at 11:24 am

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…

NRF: Valentine’s Day Spending to Reach $25.8B
January 30, 2024 at 2:43 pm

Valentine’s Day spending on significant others is expected to reach a record $14.2 billion this year, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics. Overall, consumers plan to spend $25.8 billion to celebrate Valentine’s Day, on par with last year’s spending and the third highest in the…

Matching the Speed of Consumers in the Shifting World of Retail
January 30, 2024 at 11:30 am

In the aftermath of the pandemic and the global economic strain, Gen Z and millennials have become the integral cogs who account for the mass consumer base. Together, these cohorts represent around $350 billion of spending power in the United States alone. Paired with the enhancements in digital transformation and consumers preference for e-commerce, retailers…

How ThriftBooks is Using AI to Scale its Business
January 25, 2024 at 11:12 am

While at NRF 2024: Retail's Big Show in New York City last week, Editor-in-Chief Joe Keenan interviewed Barbara Hagen, vice president of sales and marketing at ThriftBooks, an independent online used book seller, to discuss the company's use of artificial intelligence. Hagen provides a brief overview of the company and discusses its growth over its…