Three Trends Driving the Future of Retail
80% of consumers are more likely to make a purchase when brands offer personalized experiences (Epsilon). However, many retailers lack the ability to gather and understand consumer data to personalize customers’ digital experiences.
Omnichannel Retail Journey
Over 70% of retail customers complete their shopping journeys using multiple channels (HBR). This journey often starts online and is completed at the retailer’s physical store, where final product and payment decisions can be made, and products picked up.
Unprecedented Pressure to Cut Costs
Retailers are navigating the expectations caused by the booming omnichannel retail model by dedicating more labor, associate training, and tools to respond to information-rich digital shoppers. Labor and other operational costs create downward pressure on profits, and are a consistent focus for leading operators.
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