Technology

The retail industry’s commitment to artificial intelligence (AI) is unmatched, surpassing all industries except finance. According to the International Data Corporation (IDC), a staggering $300 billion investment in AI is anticipated by 2026. This influx of resources promises to augment the relationship between humans and machines, delivering immense advantages to brands and consumers. There's a…

Among the hallmarks of direct-to-consumer (DTC) e-commerce is the ability to learn, directly from the consumer, what helped guide their purchase decision. Over the years, such insights have given DTC brands the jump on many up-and-coming marketing channels, including podcasts, Snapchat, TikTok … and at this moment, ChatGPT. Within the past few months, consumer responses…

Understanding what customers wanted was pretty simple in a physical store. They could tell a store associate, “I need a coat for a ski trip,” or simply point to an item to say, “I need something like that.” With the introduction of online shopping, the e-commerce search bar became the store associate. A customer simply…

Ever since ChatGPT was released near the end of 2022, organizations and decision makers have been scrambling to figure out how they can use the new generation of artificial intelligence (AI) technology to work better, faster and more effectively. Customer service delivery is no exception. It really does feel like a breakthrough moment for technology,…

Technology is advancing at an extremely fast pace — just look at how quickly ChatGPT has become a household name. It has dominated news cycles and heightened our awareness and understanding of where, and how, artificial intelligence (AI) is impacting our lives. From digital assistants like Siri, to predicting customer behavior and preferences, AI is…

In November 2022, OpenAI launched ChatGPT, and the hype has been growing ever since. Some people ask ChatGPT to carry on philosophical conversations, compose love poems, and spit out edgy rap lyrics. Those in the logistics sector are finding other ways to put ChatGPT’s talents to use. We're harnessing the platform to improve our customer…

Too often, brands and retailers treat their e-commerce and in-store operations as separate businesses. Each has its own product assortment, pricing strategy, inventory availability, and key performance indicators. These businesses tend to wage harmful internal battles for resources and attribution that distract from the needs of the larger organization and/or end consumer. The truth is…

This year, a perfect storm of economic, social and technological headwinds are buffeting the retail industry. Despite analysts’ fears of a 2023 recession, consumers have switched from online to in-store sales in such large numbers, analysts describe the trend as “boomerang” shopping. Even so, researchers are finding that inflation is eating away their purchasing power by…

While inflation has been on the mind of everyone through 2022 and into this year, we recently have been hearing whispers of possible deflation in the near future. Naturally, this has many small retailers and grocers wondering what they would do to survive if that comes to pass. Starting in 2020, we saw larger retailers…

There are more retail channels available to consumers than ever before. From traditional in-store shopping to web, mobile and social media apps to hybrid shopping models (e.g., buy online, pick up in-store), retail’s reliance on technology has grown, expedited by the digital transformation of operations during the COVID-19 pandemic. Of course, technological innovations come with…