Digital Innovation
August 3, 2022 at 11:57 am
Ulta Beauty has become the latest retailer to launch a venture capital arm after announcing a new digital innovation fund Wednesday. The fund, called Prisma Ventures, earmarks $20 million for digital innovation in beauty, according to a company press release. The fund will invest in emerging technology startups that "seek to shape future online and in-store…
August 1, 2022 at 5:06 pm
The past few years have been challenging for retail brands, which are adapting to external market forces like the pandemic and evolving in response to shifting customer expectations. It’s also an exciting time, and many brand marketers are experimenting with new ways to meet people where they are — increasingly in the metaverse and other…
July 28, 2022 at 5:39 pm
Like many sectors, luxury retail has weathered more than a few challenges, crises and storms over the last few years — illustrated by the 23 percent drop in sales (or around $228 billion) in 2020 worldwide. These challenges have put considerable pressure on brands to keep pace with changing market trends and customer behaviors. For decades,…
June 27, 2022 at 2:28 pm
The global pandemic sparked an evolution in the retail landscape that doesn't show signs of stopping. Namely, there have been two obvious shifts among consumers: increased omnichannel shopping habits and decreased brand loyalty. Customers aren’t hesitating to find another retailer that gives them the shopping experience they desire, whether in-store or online. To keep up…
June 23, 2022 at 9:08 pm
In this episode of Retail Right Now, Total Retail's Marie Albiges and Devon Russell discuss an article recently published by Total Retail titled, “How Retailers Can Use NFTs to Give Customers a Unique Shopping Experience,” authored by Angelo Coletta, founder and CEO of Zakeke. The article shares several ways that retailers can use NFTs (non-fungible…
June 23, 2022 at 4:36 pm
Retail has certainly evolved over the past two years. Today, we're living in an omnichannel retail universe that must be catered to carefully by retailers. Store associates can’t be expected to carry the entire load and overwhelming task of the end-to-end sales process anymore, but we also can’t entirely lean on artificial intelligence (AI) to…
June 20, 2022 at 3:59 pm
The NFT (non-fungible token) phenomenon has hit nearly every industry. For retailers, NFTs can be a unique offering that helps build customer loyalty and boost sales. But what are they, and how can retailers effectively use them to build brand affinity? NFTs are digital tokens for virtual items, and its key differentiator from other virtual…
June 14, 2022 at 10:26 am
The metaverse has captivated notable brands and technology innovators alike because it provides abundant opportunities for new revenue streams and represents a way for consumers to connect with retail stores without even setting foot inside. Many brands believe it's inevitable, and none are willing to be the ones that miss out. But are we overlooking…
June 8, 2022 at 3:29 pm
Visitors to the metaverse can now shop for Barbie apparel, sleepwear, swimwear, accessories and home décor inspired by the Barbie DreamHouse in Forever 21's virtual shop, the companies announced Tuesday. The 2022 limited-edition collection will be available in Forever 21 Shop City on Roblox, as well as online and in-store. The metaverse store was created in…
June 7, 2022 at 7:57 pm
Within a decade, we will see tremendous shifts to the way in which consumers perceive and interact with the world around us. The imminent upsurge in the extended reality (XR) market is upon us, and what our day-to-day realities will look like by 2030 is up to the collective ability of our imaginations. Yet the…
