While real-time payments offer retailers faster processing and lower costs, they can unlock new value by enhancing the customer experience, improving loyalty and offering more insight into consumer needs and shopping behaviors. To capitalize on these opportunities, retailers and their PSPs need modern back-office systems designed to operate in a real-time payment environment.
The combination of digital twin technology and artificial intelligence and other forecasting tools has created an exciting space for retail to grow and change. From better product design to improved manufacturing and streamlined internal operations, digital twins and AI are proving to be a powerful pair in retail.
This peak holiday season will be unlike any before, and brands must adapt accordingly. These unusual circumstances need to be met with creative solutions. Here are a few ways to avoid this scenario by looking at alternative last-mile delivery options that will keep both consumers and brands happy.
The pandemic dramatically accelerated the retail industry’s digital transformation. Large retailers had the technology and processes necessary to respond quickly, but others found their entire business models upended overnight. While some changes may go, what will stay is a renewed focus on building community in retail.
Artificial Intelligence (AI) is showing up just about everywhere we look. Chatbots are having in-depth, multi-level conversations with customers, and can even respond appropriately to emotions they sense. Here is how AI is changing the retail landscape.
While retailers have typically focused on competition amongst each other, their true competitors online are Amazon and Google. See how Amazon and Googles moves are impacting other online businesses.
The National Retail Federation presented Congress solutions to better protect consumers and help businesses prevent cyber attacks and data breaches. See what their plans are to prevent cyber attacks and data breaches.
Mobile apps are on the rise this year as consumers are spending increasingly more time on them than a year ago. Fifty percent of smartphone users have also made a purchase using a smartphone. See what other statistics are revealed in this infographic.
Executives from Macy’s, Lowe’s and The Limited said the impact of mobile on omnichannel engagement has been huge and has progressed faster than expected.
Steps that retailers should take to prepare for dimensional weight pricing that is taking effect at the end of the year.