Today on Total Retail
October 16, 2023 at 9:27 am
The retail media network (RMN) industry is undergoing a remarkable transformation. Analysts estimate that global digital retail media ad spending is on the rise, set to soar from $98 billion in 2021 to a staggering $133 billion by 2024, reflecting a CAGR of ~10.7 percent. The increased use of digital channels by consumers during the…
October 16, 2023 at 8:34 am
All of us are familiar with the phrase, "Nothing in life is free," (including lunch), but this sentiment truly resonates when examining the intricacies of free shipping in e-commerce. What if we changed the script on free shipping, viewing it not merely as a business maneuver, but instead as a catalyst for eco-conscious evolution? It…
October 12, 2023 at 4:44 pm
This week saw Amazon.com host its second Prime Day sale of 2023. The two-day sale event, which is exclusively for Prime members, is viewed by many as the unofficial start to the holiday shopping season. How did this most recent sale event compare to its predecessor in July, as well as year-over-year? Numerator, the consumer…
October 12, 2023 at 3:39 pm
Customer service has crossed a threshold thanks to the rapid ascent of generative artificial intelligence. Retailers can tap the powers of generative AI to automate internal and external customer service processes, improve and personalize experiences, and elevate problem-solving. However, integrating generative AI into customer service processes requires careful planning and implementation. Decision-makers must develop a…
October 12, 2023 at 12:44 pm
A number of factors are disrupting the retail industry, from growing supply chain complexities and increasing privacy regulations, to rapid market changes and evolving consumer demands for hyperpersonalization and true omnichannel experiences. To navigate this evolving landscape, more and more retailers are harnessing the transformative power of first-party data to cultivate meaningful customer relationships and…
October 12, 2023 at 2:51 pm
Amazon.com founder Jeff Bezos said in 1999 that what matters most to him is providing the best experience he can to his customers. In the same interview, he added “If there’s one thing that Amazon.com is about, it’s obsessive attention to the customer experience end to end.” Decades later, Amazon never wavered from its commitment…
October 12, 2023 at 12:11 pm
As each day passes, the difference between physical and digital storefronts becomes increasingly blurred. Technological advancements, a wealth of creativity in the retail sector, and the exciting emergence of Web3 integrations and activations continue to bring physical and digital retail experiences closer together. For brands, online interactions go beyond sales as we enter an era…
October 11, 2023 at 5:39 pm
Walgreens Boots Alliance has selected the former CEO of the country's largest pharmacy benefits management company as its next CEO. Tim Wentworth, who most recently served as the CEO of Express Scripts, will start his new role at Walgreens on Oct. 23, the company said in a press release. He will replace Rosalind "Roz" Brewer,…
October 11, 2023 at 3:56 pm
Every retailer with a well-run transportation fleet regularly reviews its operational and systematic data to identify key trends and opportunities to improve its overall efficiencies and the bottom line. However, with so much change taking place within the transportation and equipment finance industries, how can retailers be sure they're evolving and adapting in the right…
October 11, 2023 at 2:15 pm
Despite encouraging economic numbers, about half of American consumers feel sour about the nation’s economy. While consumers are still shopping, they’re often looking to trim spending and will be cautious about their dollars over the next year. And with retail sales slowing, there's mounting pressure for brands to win more share of wallet. As the retail experience hinges increasingly on digital experiences, brands must ensure that they…
