Technology

The Little-Known Secret to Retail Resiliency? Quantum Computing
January 5, 2023 at 4:24 pm

Against a backdrop of inflation, weakened consumer spending power, and lingering supply chain disruption sparked by the pandemic, retailers continue to face growing complexity and uncertainty. Traffic routing, inventory management, omnichannel purchasing, staff scheduling — all have contributed to increased challenges for the industry. Forward-looking retailers are embracing new technologies to help navigate today’s dynamic…

Retailers and AI in 2023: Focus on Supply Chain Efficiency and Interactive Store Experiences
January 3, 2023 at 4:11 pm

Predictions for 2023 seem pretty dismal right now. As the recession and labor shortage continue to batter retailers, however, there are a few things they can do to become more efficient while setting themselves up for a more promising 2024. Supply chain efficiency will be one of the biggest challenges facing retailers and impacting consumers.…

Bridging the Gap: How to Prepare for the Future of Demand Planning
December 30, 2022 at 11:18 am

Retailers’ bearings for demand forecasting are now better calibrated than they were just a couple of years ago, although shockwaves from supply chain and distribution disruptions persist in some areas. These challenges create a disconnect between what retailers think is the "new normal" vs. what their actual "new normal" likely is. This dichotomy hinders their ability…

AI Brings Holiday Joy to the Retail Contact Center
December 22, 2022 at 4:24 pm

While the holidays are a joyous season for most of us, they can feel like a lump of coal for retail contact center agents. Between Black Friday, Cyber Monday, and the Christmas rush, retail contact centers are bombarded with calls from customers making returns, asking questions about products, or not-so-politely complaining. This spike in volume…

How Do Retailers Solve the Labor Shortage Crisis?
December 21, 2022 at 7:18 pm

The events of the last few years — Brexit, the pandemic, The Great Resignation, a cost-of-living crisis — have caused evolving challenges that continue to ripple through the retail industry. One of the biggest causes for concern for businesses today is a mass shortage of workers as people switch to remote or at-home working, decide…

Walmart's RFID Mandate: A Prequel to Wider Retail Adoption
December 20, 2022 at 7:50 pm

Earlier this year, Walmart issued a new mandate which required suppliers in certain departments to begin providing RFID tags, joining retailers such as Nordstrom in expanding its use of the technology. Having succeeded with its use of RFID for its apparel products, Walmart has told its suppliers that any brand supplying products for its home,…

Edge Computing: Key Driver of the Retail Revolution
December 19, 2022 at 10:55 am

As concerns about the COVID-19 pandemic wane, shoppers are returning to brick-and-mortar stores — now with much higher expectations for smooth, seamless omnichannel customer experiences. As evidence of consumer demand, in-store sales jumped by 13.4 percent year-over-year in May 2022, compared to only 2.2 percent growth in online sales. That’s promising, but to keep customers coming…

AI is the Key to Unlocking Consumer Spending This Holiday Season
December 19, 2022 at 10:31 am

Even with high levels of inflation and a recession predicted to bear down on us in 2023, consumers are eyeing this holiday season with eagerness — they’re ready and willing to splurge on holiday spending this year, according to a recent McKinsey report. Since this might be the last good time for retailers to cash in…

Red Wing Shoes is Flying High With a Unified Platform for Data Governance
December 15, 2022 at 12:29 pm

Strong data governance is crucial for retailers nowadays. To keep up with the competitive market, companies must deliver customer-centric retail strategies that can respond to the ever-changing wants and needs of the consumer. This means developing a data strategy that provides a holistic view of customers. Red Wing Shoes, the durable and comfortable footwear manufacturer,…

Customer Data Solutions Are Too Complex
December 12, 2022 at 10:13 am

For all their virtues, a common complaint about customer data platforms (CDPs) and CRM systems is the prolonged training times that these technologies require in order to realize their benefits. The most valuable capabilities on these platforms are in many cases only accessible to those technicians that have acquired hard-won skills and mastered their complexities.…