Modern retail demands flexibility and control. Especially in verticals such as grocery and convenience, consumers expect retailers to make it as easy as possible for them to get what they want, when they want it and how they want it. Thus, the more high-value services a retailer can provide, the…
This probably isn't your first time reading about how COVID-19 has served as a catalyst for technology adoption across retail. But what hasn't been addressed is whether or not specific consumer behaviors embraced during the pandemic will turn into habits that last long-term. For example, as retailers worked to keep…
To achieve a future of frictionless retail, retailers must first be able to understand when and how to leverage centralized cloud infrastructure and when to defer to decentralized edge networks in the store. While the adoption of the cloud has led to unprecedented enterprise agility and intelligence, there are many…
We’ve spent some time looking at the types of shopping behaviors and trips that define the overall retail landscape, the unique areas of friction that create frustration for each one, and the roadblocks for achieving frictionless retail. We’ve concluded that in the context of both online and in-store retail, true…
We recently discussed how shopping behavior impacts frictionless needs and the technology options retailers should consider to eliminate pain points in the shopper journey. Consumers expect a seamless journey at all touchpoints, and if a brand fails to deliver on this, they will lose to their competitors and fail to…
At first glance, Dynamic Pricing Systems and Recommendation Engines may not have too much in common. Dynamic Pricing is meant for targeted price optimization so a retailer can sustainably grow revenue and profit. Recommendation Engines, on the other hand, ensure that customers receive excellent online service, even though there is…
In our last blog, we explored how shopping behaviors impact frictionless retail needs. We looked at eight different types of purchases  that uniquely affect the shopping experience a customer expects. We also explained the common friction points retailers need to address for each of these customers.   Today, we’ll identify…
Markdown optimization is one of the topics that retailers are particularly interested in because it holds significant promise and value for all segments. Because markdowns – and especially write-downs – limit gross profit, it is important that retailers proactively manage their sales and keep them to a minimum. However, the…
A retailer’s business processes and technology should be executed so that they consistently deliver a seamless shopping experience, regardless of where or how the consumer shops. While all consumers create hierarchies of needs and preferences when choosing where to shop and which retailers to return to, there are surprisingly few…
One of the reasons why retailers increasingly rely on AI-based Dynamic Pricing is the huge amount of data and influencing factors that need to be considered for price determination, including product master data, purchase prices, sales quotas, inventory levels, competitor behavior, promotions, real-time transactions, historical data, seasonal trends, regional factors,…
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