Geeky has never been so glamorous. To help shoppers find fashions that fit their bodies, budgets and styles, more retailers are turning to artificial intelligence (AI). As one of today’s hottest technology trends, AI translates vast volumes of retail big data into rich, actionable insights, so executives can make smart decisions faster.
If you’re in the retail marketing business, you’ll know how important retail inventory management is. Having the right product at the right time — and in the right amount — is indispensable, because you cannot stock up on an inventory without an estimate of the amount you would be spending. Many assets have depreciation value; […]
At the rate that technology is currently changing, it’s no wonder that the retail space appears to be trapped in a perpetual transition period. From the decline of brick-and-mortar stores in recent years to the diverse options available to eCommerce retailers, having a multichannel marketplace — that is, one comprised of a combination of shopping […]
As time progressed, more avenues were added to interact and engage customers. These included telephones, emails, and catalogues. As of today, the list of channels has grown by leaps and bounds. Customers and retailers nowadays interact through the internet, smartphones, and televisions. Basically, omnichannel retailing offers convenience and opportunities for interaction to maximise revenue and […]
Showrooming is the practice where shoppers examine items during store visits, but choose to buy them online because they are cheaper there. Online retailers are in a position to offer better deals as they don’t have to bear the same operational costs as their brick-and-mortar counterparts. Effectively, traditional retailers unwittingly act as showrooms for ecommerce […]
Retailing as we know it has undergone a sea change. The siloed nature of legacy retailing is re-structuring from brick and mortar to clicks and swipes at a fiercly rapid pace. Retail trade entities have started moving towards what is now commonly referred to as ‘Omni-Channel’. Omni-channel, the holy grail of retailing is supposed to provide […]