On today's episode, we discuss the most important retail trends we're watching in 2023: how frugality and value are hollowing out the middle, why click and collect is so popular, why return policies will make or break retail loyalty, and more. Join our analyst Sara Lebow as she hosts analysts Suzy Davidkhanian and Carina Perkins.
Audio
| Jan 3, 2023
Younger consumers turn to social media to inform their purchases: 45% of Gen Z shoppers use Instagram for product research, 1.5x more than look to Facebook and TikTok.
Article
| Mar 28, 2022
On this episode of Reimagining Retail, our analyst Suzy Davidkhanian hosts resident apparel expert Sky Canaves. In "Pop-Up Rankings," they discuss several features from the inaugural apparel benchmark study that didn't rank as high as they would have expected. In the second segment, "What's In-Store," Sky and Suzy visit Nordstrom to check out its click-and-collect hubs, the mobile app scan feature, and different store activations.
Audio
| Apr 27, 2022
Last year, 62% of financial services executives surveyed by KPMG said they plan to use generative AI for customer service and personalization. The ChatGPT boost: Consumer interest has also heated up due to continual buzz about generative AI (genAI). Exposure to ChatGPT and Google Gemini is shaping customers’ expectations around their interactions with virtual assistants.
Article
| Mar 18, 2024
Following performance measurement was the most important factor in allocating retail media spend, according to US consumer packaged goods (CPG) manufacturers, per December 2023 data from Skai and Path to Purchase Institute.
Article
| Mar 11, 2024
AI's use in personalization and customer experience is a priority for 58% of marketers, highlighting the trend toward tailoring content and interactions to individual consumer preferences. Over half of marketers (55%) in the study use AI for content ideation, indicating the tech’s value in generating new concepts and strategies. Forty-six percent of respondents believe that AI can enhance creativity.
Article
| Jan 18, 2024
Email isn’t just the workhorse of a customer relationship management strategy. The data derived from successful email campaigns in email are also core to other profitable channels like remarketing—in email, social, or anywhere you can upload hashed email like Facebook, Instagram, Twitter, Google Ad Manager (via publisher-provided IDs), Amazon, LinkedIn, Taboola, LiveRamp, Criteo, AdRoll, etc.
Article
| Mar 4, 2024
The in-store customer experience also plays a role in bigger-ticket purchases. “We sell golf carts and ATVs and all sorts of big-ticket items that most people aren’t experts on,” said Lockton. “Our team members generally live in the community, they normally own land or animals. So they’re the experts that can walk you through what you need.”.
Article
| Apr 17, 2024
Michaels: For launching a new online marketplace and in-store experiences. Listen to the full episode. This was originally featured in the Retail Daily newsletter. For more retail insights, statistics, and trends, subscribe here.
Article
| Mar 28, 2024
If brands are considering a price increase, they need to conduct thorough research beforehand and ensure that their product quality and customer service remain best in class. Otherwise, customers may balk at the higher price and switch to another brand. This was originally featured in the Retail Daily newsletter. For more retail insights, statistics, and trends, subscribe here.
Article
| Mar 1, 2024
OpenAI’s GPT-4 can help retailers map the customer journey by analyzing data from across social, owned, and third-party platforms and identifying trends in real time. It can also help retailers predict future behaviors, giving insight into where they should focus their ad dollars.
Article
| May 19, 2023
On today’s episode, we look at the various angles of generative AI in banking. In our "Headlines" segment, we discuss regulators' urgency to install oversight over the rapidly advancing technology. In "Story by Numbers," we examine the percentage of executives that are not aware of how fast generative AI is coming, as well as discuss an old number that has been around the finance world for a while about human customer service agents versus bots. And in "For Argument's Sake," we take sides in the debate over whether generative AI will raise the bar or level the playing field for small and regional banks. Tune in to the discussion with host Rob Rubin, our analyst Eleni Digalaki, and vice president of content strategy Dan Van Dyke.
Audio
| May 15, 2023
Yet browsing in-store is the No. 1 way Gen Zers discover clothing, per our November 2023 US Consumer Path to Purchase survey. 3. Stars from Hollywood and social media are converging. The line between entertainment celebrities and social media creators is blurring, Enberg said.
Article
| Mar 21, 2024
In a January Ascend2 survey, personalization (38%), ad optimization (34%), and customer service chatbots (31%) ranked as the highest use cases for AI. While creative applications are also somewhat common, they’re used less than those for data and other processes—though interest is high.
Article
| Feb 15, 2024
The opportunity: Although there are no ad placements within the messaging environment on Instagram, brands can still build an organic presence by engaging with customers or providing customer service through DMs. 2. YouTube takes the lead on long-form and livestreamed video. “YouTube is the most popular platform for livestreams among this generation,” Smiley said.
Article
| Mar 1, 2024
Trader Joe’s small, curated stores and limited footprint sets it apart. Between its branding, product choice, and customer experience, there are a lot of lessons other retailers beyond grocery can learn from the Trader Joe’s model. Here are four takeaways from Trader Joe’s.
Article
| Apr 28, 2023
Some, like direct-to-consumer shoe brand Rothy’s and menswear brand Todd Snyder, are using stores to provide high-touch customer service and build deeper relationships with shoppers. Others, like Walmart, Walgreens, and Target, are focused on revamping stores to offer more convenience, both in-store and online.
Article
| Jan 9, 2024
On today's episode, we discuss why Net Promoter Score (NPS) usage isn't translating into a better customer experience for many, how to use it effectively, and tactics for dealing with angry customers. "In Other News," we talk about how neobanks can use customer service to stand out from the crowd and the significance of Target adding coffee pickup and returns to its curbside service. Tune in to the discussion with our analyst Patty Soltis.
Audio
| Jul 7, 2022
While retail as a whole is looking for ways to deploy generative AI to support operations and enhance customer experience, fashion ecommerce is likely to see some of the biggest impacts.
Article
| Apr 13, 2023
Temu bets low prices will be enough to attract shoppers: But the Pinduoduo-owned platform will have to improve the customer experience to turn initial interest into lasting gains
Article
| Oct 24, 2022
The labor market is extremely challenging for retailers and restaurants: Quit rates are on the rise, which is making it difficult for companies seeking to improve the customer experience.
Article
| Mar 10, 2023
Krystal Walker, Director of Beauty Development and Customer Experience at CVS Health, spoke with Insider Intelligence about the launch of Skin Care Centers.
Article
| Aug 5, 2022
Conversational AI is becoming more integrated into consumers’ lives every year, as tech like retail bots and virtual agents continue to improve the customer experience.
Article
| Jan 27, 2022
Luxury goods are products that are priced at a premium and feature a higher level of quality, craftsmanship, customer service, exclusivity, and/or scarcity relative to the majority of goods in a given product category.
Report
| Oct 9, 2023
On today's episode, host Sara Lebow tees up a conversation between our analyst Andrew Lipsman and Ram Iyer, worldwide director, digital strategy and ecommerce at Microsoft, about omnichannel and mobile commerce, the consumer path to purchase, the metaverse, and more.
Audio
| Jan 17, 2023