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| Jan 16, 2024
Source: Boathouse
Our take: FIs need to embrace AI across various aspects of their business, from operational enhancements to customer experience and risk management. However, doing so haphazardly—without the appropriate budget to ensure this technology isn’t landing them in even hotter water—is as risky as what they’re using AI to help them mitigate.
Article
| Oct 16, 2023
A generous return policy can encourage consumer spending and inspire loyalty. On the other hand, a policy that makes it more costly or inconvenient for customers to return their items could sting a retailer’s bottom line.
Here are some short- and long-term ways return policies can affect retailers, and ways to avoid charging customers a fee to cover return costs.
Article
| Dec 14, 2023
Etailers that mimic the personalized, customer-centric in-store experience stand to convert consumers who prefer shopping from brick-and-mortars. “Right now, we put the onus on the consumer to filter down and engage with a wide array of products in order to find what they’re looking for,” Flateman Posner said.
Article
| Nov 7, 2023
D2C subscriptions give brands the most control over the customer experience and are a better avenue for strengthening customer loyalty. But many consumer packaged goods (CPG) brands have struggled to grow their D2C customer base, making Amazon and other marketplaces a viable second option. Sources. Numerator. PYMNTS.com. Recharge. Yotpo.
Report
| May 23, 2023
The average Temu user spent 18 minutes per day on the company’s app: That’s nearly double the 10 minutes they spent on Amazon’s app.
Article
| Dec 12, 2023
Path to Purchase Institute. Placer.ai.
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| Mar 16, 2023
Generative AI could help change that by making automated responses more personable and human-like, potentially elevating the customer experience. However, it won’t help solve other frictions in the voice shopping experience, such as the lack of screens on most smart speakers or concerns over privacy. Other top channels.
Report
| Feb 23, 2023
Path to Purchase Institute. Similarweb. Standard Media Index (SMI).
Report
| Mar 23, 2023
The in-store experience, while big, is less correlated to competitive differentiation. Creating a frictionless experience along the purchase journey—including mobile apps, easy payment, and a range of fulfillment options—is table stakes for all retailers. How Canada compares. Canada still lags, but the gap is closing. In the US, ecommerce share of total retail will be 15.6% in 2023.
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| Jul 28, 2023
As a result, these smaller FIs will need to find alternative ways to retain customers and strengthen relationships—such as offering highly personalized services and enhancing customer service.
Article
| Oct 23, 2023
Customer service. Social media accounts play an important role in brand-customer relationships. Response time to comments and posts is critical, and generative AI can free up community managers from repetitive tasks such as replying individually to common queries. Social platforms are also getting deeper into AI.
Report
| Mar 20, 2023
In-store experience hasn't really evolved enough to appeal to them. And I expect that large e-commerce players like Amazon will continue to get away with murder in how they can treat their workforce and get away with, I wouldn't call it tax fraud, but they have a huge advantage over brick and mortars. They have for years.
Audio
| Feb 23, 2024
Half of marketers worldwide agree a personalization strategy can improve customer experience and increase customer retention and revenues, per a January 2023 report by Ascend2. Globally, consumers spend an average of 21% more when brands personalize their experiences, according to a 2023 report by Twilio. Leverage customer data to deliver personalized rewards.
Report
| Jun 29, 2023
AI moves to the front office to help marketers and customer service reps in financial services. AI is a new tension point between creators, social platforms, and brands. What should marketers know about Jasper? Note: Respondents were asked "Which of the following best describes your organization’s current level of AI and ML adoption?".
Article
| Oct 18, 2023
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| Jan 5, 2024
Source: MediaPost Communications; New Street Research
Retailers will be able to better monitor in-store inventory with 5G connections to improve both hybrid and in-store experiences for customers. 5G will allow for quicker updates to inventory online and across stores so users can have a better idea of how to best get their item. Faster connections capture buyers in a more timely manner.
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| Mar 6, 2023
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| Jan 4, 2024
Source: Ascend2
Invest in improved customer service and maintain trust with consumers to keep competitive advantages. Sources. eBay. ESW. Global-e. International Post Corporation (IPC). Mirakl. Morning Consult.
Report
| May 16, 2023
Beyond creative development and production, the technology can also change consumer expectations and experiences by simplifying shopping, customer service, and product personalization. The huge surge of new genAI users will slow. The launch of ChatGPT kick-started the use of genAI.
Report
| Jul 20, 2023
If trust is baked into a generative AI-powered customer relationship management tool, for example, marketers can protect customers while delivering personalization at scale. Keep a human in the loop.
Article
| Oct 18, 2023
ChatGPT can help claims clerks gather information and verify documents, which speeds up processing and improves the customer experience. Product development. Generative AI can offer insights into emerging trends across customer segments, allowing insurers to create new products that are designed to meet the evolving needs of their customers.
Report
| Mar 7, 2023
Attentive's Cyber Week triumph: Sales of $1.8 billion driven by AI-SMS synergy and personalized messaging.
Article
| Nov 29, 2023
Consumers use Pinterest to complement the in-store experience. “The other day, I was out and about with my husband and I bought this skirt,” Bushman said. “But I didn’t see anything in-store that I wanted to pair with it. So I turned to Pinterest and started searching for ideas.”. Bushman pinned a few ideas for shoes, but eventually closed the app and went back to her daily activities.
Article
| Oct 18, 2023
That feeling is due to Trader Joe’s dedication to what it believes makes a good customer experience, which is slightly different than other grocery stores.
Article
| Oct 6, 2023