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Today on Total Retail
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The psychological connection between sound and human recall has long been scientifically established, with certain sounds having the power to transport us back to a moment in time, jog a memory, or even a feeling. The tune of an ice cream truck in the distance, for instance, conjures up the warm memories of childhood summers.โฆ
As it faces regulatory scrutiny over its potential merger with Albertsons, grocery chain Kroger has decided to sell off its specialty pharmacy business to CarelonRx, a subsidiary of Elevance Health. In a press release Monday, Kroger said the sale is expected to close in the second half of the year. "As part of our regularโฆ
Retail workers are quitting their jobs at an unprecedented rate, with almost half of all frontline U.S. retail employees contemplating turning in their pink slip in the next few months. Compared to only 38 percent of the U.S. workforce looking to exit their position, retail leaders are exceedingly worried about employee retention and how aโฆ
Expectations for easy, seamless experiences โ driven in part by the high bar set by Netflix, Spotify, and TikTok โ have spilled over into other facets of consumersโ lives, including shopping. These global brands, and many B2C and B2B commerce brands, employ artificial intelligence to drive their customer experiences. However, AI isnโt a single science.โฆ
Years ago, grocery stores and supermarkets implemented loyalty card systems which involved issuing physical loyalty cards, which customers could present at checkout to earn points or discounts based on their purchase amount. Over time, customers accumulated points that they could redeem for rewards such as discounts on future purchases, free products, or entry into exclusiveโฆ
It feels almost quaint to discuss the โdigital transformationโ of the retail industry. Ten years ago, that mostly meant โhave a websiteโ and โdigitize inventory.โ Now these tools are table stakes, and the true digital transformation is the rapid expansion and harnessing of emerging technologies in artificial intelligence (AI), machine learning (ML), augmented reality (AR),โฆ
For Tony Spring, who took over as CEO of Macy's Inc. in February, the last month-plus has been a true test of his leadership skills as well as a peek into his future vision for the iconic retail organization. During a keynote presentation earlier this week at Shoptalk in Las Vegas, Spring detailed the transformationโฆ
According to McKinsey, more than half of business-to-consumer customers engage with three to five channels each time they make a purchase or resolve a request. The evolution of technology has transformed these channels into explicit, interconnected conduits directly impacting customer satisfaction. In todayโs retail landscape, it's no longer sufficient to merely acknowledge this fact; retailersโฆ
Most of the conversations I have with retailers these days are about strategies to improve the performance of their tried-and-true triggered marketing campaigns โ e.g., abandon browse, search and product campaigns. Retailers are aware that having triggers for shoppers who abandoned their cart, abandoned a search or browse is now pretty commonplace, and so theโฆ
With so many retail options available to consumers, itโs more important than ever for brands to offer incentives to retain and grow their share of loyal customers. A tiered loyalty strategy is an effective way for brands to level-up engagement. What's a Tiered Strategy and Why Does it Matter? Customersโ expectations change over time. Theโฆ