Technology

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…

In early 2023, there’s no shortage of speculation on how the next wave of computer innovation might capture and enliven our attention and imaginations. From blockchain and crypto, NFTs, quantum computing, advancements in artificial intelligence (AI), to augmented reality/virtual reality and the metaverse, there are a number of terms that promise to herald a new…

Retailers have a huge opportunity to offer intuitive, technology-driven experiences to employees. Despite facing industry headwinds, research has revealed that 68 percent of U.S. retailers plan to increase their technology spending over the next three years. This is due to growing customer expectations, as well as the return of consumers to brick-and-mortar stores, which is…

Bed Bath & Beyond was doing roughly 15 percent of its sales online in 2019 before the pandemic initiated an online shopping boom. As of last summer, 25 percent to 30 percent of the retailer’s revenue came from e-commerce. And yet, Bed Bath & Beyond just declared bankruptcy. As with many retail stories, the proverbial devil…

Ever visited a grocery store, activated your mobile app, and received personalized item suggestions with prices and additional insights? Shoppers at supermarket chain Kroger have. Store sensors and artificial intelligence (AI) technology are enabling customized mid-purchase product recommendations to be expected by consumers. The question on small and mid-to-large store owners' minds now is how…

Join us as we discuss three strategies to maximize customer lifetime value, including bringing obsession to micro-experiences.