There’s that trope about how online shopping means you can get everything from groceries to furniture without ever having to leave your house. Whether you’re shopping on your smartphone or from your computer, the internet really has had a dramatic impact on the way consumers think about what and how they buy. Online businesses are…
Social media is already transforming retail, and the pace of that transformation is likely to accelerate in 2020. Retailers that embrace social media and are willing to take calculated risks are the ones most likely to benefit from this transformation. At Socialbakers we get to see what some of the most innovative social media marketers…
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When it comes to vendor hype in retail, perhaps no other term is being tossed around as casually and frequently as “artificial intelligence.” A cursory look at technology vendor claims would have the retailer believe that AI is successfully deployed in every corner of the business, working flawlessly and delivering profoundly transformative results. But anyone…
With online fraud transactions forecast to reach $25.6 billion in 2020, retailers need to heavily prioritize fraud prevention in the first half of this year. This begins with understanding vulnerable areas and how to combat fraud while protecting profitability and customer satisfaction. E-Gift Cards Are a Top Target EMV chip cards achieved their intended purpose:…
We’ve seen our fair share of shocking headlines recently: tenuous IPOs, the “retailpocalypse,” and a fickle market have served to reset the way we size up subscription businesses. Recurring revenue models have their pitfalls, and 2019 certainly taught the industry a few lessons. In 2020, retention is set to be a top priority for companies…
With the busy holiday shopping season comes a huge increase in customer service calls (375 percent in the past two years), including into the new year. Therefore, it’s important that retailers re-evaluate their customer service security policies. According to a report from Sitel Group and CallMiner, 30 percent of Americans think the retail industry is…
There’s little doubt that online shopping is on the rise. It’s convenient, there's unlimited choice, and consumers find it easier than ever before to find a bargain. In fact, in 2018 global online sales increased 18 percent, reaching almost $3 trillion. By 2024, the total transaction value of remote payments for digital and physical goods…
Customer loyalty is the holy grail for retailers. How to achieve that loyalty (and more importantly, sustain it) can be elusive. However, new research shows that a key driver lies within the unassuming power of traditional store credit cards marketed in untraditional ways, especially with millennial customers, who represent the largest generation in the U.S.…
At this year’s G7 summit in Biarritz, 32 companies banded together to sign the Fashion Pact, a commitment to solving one of the apparel and retail industry’s biggest problems: sustainability. The fast-fashion sector has been a main contributor to the problem. With companies churning out more clothing on a faster production cycle, the fashion world…
