Technology

How AI Can Help Retailers Thrive in 2021 and Beyond
January 12, 2021 at 8:57 pm

Due to the COVID-19 pandemic, retailers are poised to bring in a great deal of revenue through their e-commerce platforms. Not only can artificial intelligence (AI) effectively help keep e-commerce stores up-and-running during peak shopping seasons and thereafter, but it can also provide effective sales recommendations and timely automated customer support.  Use AI to Automate…

Planning in a Pandemic: How AI-Powered Analytics Can Help Retailers Today
January 11, 2021 at 10:10 pm

Consumption and shopping behaviors have changed dramatically, leaving retailers with a challenging and dynamic planning process ahead — months after the start of the pandemic. Further complicating things, historical data is losing relevance, and it’s unclear which new behaviors will stick. Retailers must now juggle hundreds of constantly changing variables and answer questions like: With…

What’s in Store for Retail in 2021
January 11, 2021 at 9:41 pm

The retail industry was massively disrupted with the onset of the COVID-19 pandemic in 2020. Stores were shuttered and consumers had no choice but to make online purchases for items deemed non-essential. For primarily store-based retailers, this seismic shift was a major reality check, and in the most extreme cases, led to permanent closures and…

Consider a New Application for AI in Retail 
January 4, 2021 at 12:31 pm

When someone asks “what does artificial intelligence (AI) do for retail?” the first thing that comes to mind is likely something about personalization and the customer experience. For retailers competing online, it’s critical to offer that “you-know-me” type of experience that the Netflix’s and Amazon.com's of the world provide. Companies that can weave AI and…

How Today’s Retail Manufacturers Are Moving Automation Technologies to the Cloud
December 21, 2020 at 11:17 am

There are many industries where manufacturing continues to be the backbone of the economy, where companies that produce products and goods used by both businesses and consumers have found a way to push forward during the COVID-pandemic. Retail manufacturers especially are continuously finding opportunities to create efficiencies while protecting the health of employees and customers.…

The Merging of Online and In-Person Shopping
December 17, 2020 at 2:21 pm

COVID-19 has fast tracked the adoption of emerging technologies in retail spaces, blurring the lines between traditional brick-and-mortar experiences and digital commerce. Where only a year ago we saw roughly 16 percent total penetration for e-commerce across sectors, we’ve now eclipsed 30 percent penetration, with certain categories meaningfully higher. This level of penetration represents a…

How the Pandemic is Revamping the Retail Landscape
December 17, 2020 at 12:34 pm

Walking into a brick-and-mortar store today feels a bit apocalyptic. Employees now don gloves, facemasks and even the occasional face shield for added protection. There are stickers meticulously placed at six-foot intervals in front of checkout counters to help consumers abide by social distancing rules. Plexiglass shields now act as a protective barrier between cashiers…

AI Comes to Retail: Here Are 3 Benefits and 3 Planning Steps You Need to Take
December 17, 2020 at 11:05 am

After years of hype and anticipation, artificial intelligence (AI) is starting to have a real impact on the retail industry. Within the next few years, AI will transform retailing, affecting everything from cost structures to the customer experience. AI goes hand-in-hand with e-commerce, and surging e-commerce growth rates — accelerated by the coronavirus pandemic —…

5 Questions to Ensure the Success of Mobile Technology in Retail
December 10, 2020 at 5:15 pm

Mobile technology use is soaring in retail, and for good reason. IHL Group found retailers that provide mobile sales tools for staff enjoy 77 percent higher sales growth than those that don’t, and those that deploy mobile point of sale (POS) achieve an impressive 92 percent higher sales. It’s rare to see such spectacular return…

AI Poised to Even the Returns Playing Field for Retailers
December 10, 2020 at 3:58 pm

A couple years ago retailers set a series of events in motion that inadvertently created one of the industry’s biggest challenges: how to manage the exponential rise in product returns while also meeting customers' high expectations. As it stands, artificial intelligence (AI) may be the only solution. How it Happened It all started with pure…