Technology

Perpetual and increasing competition, economic fluctuations, and constantly changing consumer expectations strain the retail sector harder than most industries. To combat these challenges, retailers have turned to technology — from analyzing big data to better connect with consumers to launching omnichannel strategies to reach customers at every point of their respective purchase journeys. More recently,…

Thanks to advances in technology, QR codes are becoming increasingly embedded in the customer experience. From retail to quick-service restaurants, their use for payments is on the rise. In fact, it's predicted that the number of U.S. smartphone users scanning a QR code will increase from 83.4 million in 2022 to 99.5 million in 2025. As…

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…

Few words have been used and overused more than “data.” What emerged from a series of zeros and ones has evolved into a critical pillar of every business. Data drives all aspects of a company, from research, buying behaviors, stock/inventory levels, assortment plan, replenishment, website design, store merchandising, staffing and finance to product lifecycle and…

Despite the optimism within the retail industry that a return to normal might be seen at some point in 2022, as we move through the back half of the year, the state of the retail industry is perhaps in a more vexing and fragmented state than it was when the year began. After two-and-a-half years…

Amid evolving consumer preferences and a myriad of business challenges across food retail, organizations have turned to digital transformation as a source of support for their physical supply chain and stores. Among the most prevalent innovative adoptions is the applied use of Internet of Things (IoT) technology. However, as economic volatility has increased and consumer…

This video features a panel discussing emerging retail technology and trends from Total Retail Tech 2022 in Nashville. Speakers include Carol Schuster, Technology and Business Information Advisor, Lafayette 148 New York; Omer Iqbal, Senior Vice President, Digital Strategy and Enterprise Architecture, Shiseido; Alan John, Vice President of AI and Data, StockX; and moderator Kathy Kimple, Executive Director, OSF…

This video features a panel discussing retail tech stack build vs buy decisions from Total Retail Tech 2022 in Nashville. Speakers include Dara Meath, Divisional Chief Information Officer, Digital/E-Commerce, Conair; Rebecca Wooters, Chief Digital Officer, Signet Jewelers; Mike Frazzini, Technology Chief of Staff, FTD; and moderator Laura Wheeler, Managing Director, Ankura. A common dilemma for retail organizations is…

In this episode of Total Retail Tech Insights, Editor-in-Chief Joe Keenan interviews Alex Galkin, founder and CEO of Competera, a technology company that offers a comprehensive pricing platform. Listen in as Galkin discusses Competera's offerings and why he decided to start the company (0:51), the advice he would go back and give himself when starting the…

When it comes to luxury goods, the perception of exclusivity and premierness are two very important elements. However, the truly paramount aspect of luxury items that allows for the high price point associated with them is their absolute authenticity. If the authenticity isn't absolute, then it's not luxury. Would it be OK if you were…