Today on Total Retail

Netflix to Open Two Entertainment Venues With Shopping, Dining
June 19, 2024 at 4:57 pm

Netflix announced Tuesday it plans to open two experiential spaces for entertainment, shopping and dining in 2025. Dubbed "Netflix House," the two locations — slated for King of Prussia Mall outside of Philadelphia, and Galleria Dallas in Texas — are marketed as a "year-round home for fans to live the stories they love." A company…

Cracking the Gen Z Code: How to Transform Trendsetters Into Brand Advocates
June 19, 2024 at 4:45 pm

Despite cautious optimism about the economy leading to increased spending, rising prices are causing consumers to tighten their belts, resulting in fewer purchases across categories. However, a glimmer of hope exists for businesses: the rising spending power of Gen Z. This generation happily mixes brand names from familiar stores, like Target or Macy’s, with lesser-known…

The Secret to Increasing Conversion at Checkout? Not Focusing on Conversion
June 19, 2024 at 4:21 pm

Today’s consumers crave personalized shopping experiences, as retailers are well aware. After all, these heightened demands are what have led most brands to invest significant time and resources to customize how consumers shop, ranging from suggesting relevant products and reminding shoppers when to replenish products, to creating interactive experiences to help shoppers identify and discover…

How Retailers Can Create a Strategy to Address Non-Shopper Populations
June 19, 2024 at 10:02 am

As retailers compete to attract customers and earn their loyalty, the in-store experience is undeniably a key differentiator. Since 80 percent of shopping still happens at brick-and-mortar locations, retailers are rapidly deploying a clever mix of new technologies and redesigned in-store experiences to appeal to consumers. Despite these innovations, however, there is an ever-present risk…

Beyond Incremental Revenue: A Nuanced Approach to Assessing Marketing Channels
June 19, 2024 at 9:23 am

One of the biggest questions brands ask when considering a new marketing channel is, “How much incremental revenue is it expected to contribute?” It's certainly an important consideration, as incremental revenue directly influences retailer margins and profitability. However, incremental revenue isn't the only game in town which is why retailers should adopt a more layered…

Apple Discontinues its BNPL Service in the US
June 18, 2024 at 12:48 pm

Apple has shut down its buy now, pay later (BNPL) service known as Apple Pay Later, less than a year after launching it. The service was discontinued in the U.S. as of Monday, ahead of Apple's launch of new Apple Pay features set to hit iPhones this fall. The changes will let Apple Pay users…

Why GenAI is Ushering in the Next Level of Product Discovery for Shoppers
June 18, 2024 at 12:02 pm

While generative artificial intelligence (GenAI) reached peak hype and is on the radar of nearly every retailer, it hasn’t yet been employed widely by shoppers, mostly due to fear of hallucinations or perhaps because brands prefer to avoid introducing steps that could distract shoppers during their buying journey. However, this could all be changing according…

Protect Your Bottom Line Against Promotion Abuse
June 18, 2024 at 10:39 am

Fraud is a costly reality and a challenge to tamp down in today’s omnichannel retail environment. In 2023, the retail industry experienced the largest percentage (8.7 percent) of suspected fraudulent digital transactions globally, a 21 percent increase over the previous year, and 34 percent growth in suspected digital fraud volume year-over-year according to TransUnion’s 2024…

What Happened to the New Norm for Retail?
June 18, 2024 at 9:54 am

Post-pandemic the retail industry was anticipating the new normal which never came. While retailers were establishing scalable solutions for challenges that surfaced from supply chain to shelf, artificial intelligence was becoming more accessible to consumers. Fast-forward a few years and what started as a new era quickly shifted to a mandate to do business differently…

How AI Can Improve the Shopper Experience and Increase Retailers' Bottom Line
June 18, 2024 at 9:15 am

Change is now the norm in retail: brands are constantly tweaking their offerings to capture shoppers’ hard-earned money and improve their traditionally razor-thin margins. And their efforts are succeeding; the National Retail Federation predicts that retail sales in the U.S. will grow between 2.5 percent and 3.5 percent this year to between $5.23 trillion and $5.28…