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Though the first wave of P2P Analytics was born in the CPG/Retail space, retailers and consumer products groups now find themselves falling behind in its adoption and application. P2P arose as market-leading brands found that legacy brand strength was losing its ability to deliver growth. New, digital native competitors were entering the market and younger shoppers no longer had the same brand allegiances. P2P Analytics held out the promise of providing a better understanding of where and why legacy brands were losing shoppers. From Binary To Multi-Channel How this happened is a result of the way e-Commerce evolved. Early on it looked as though we were entering a binary world with two channels — online and brick-and-mortar — battling it out. Eventually, it was assumed, all commerce would move online or go away. That, it turned out, was too narrow a view. Shoppers proved to be more opportunistic, and quickly evolved away from an either/or approach to online or offline and towards ...

Launched in 2009 with a specific focus on designing apparel for women 35 years and older, Ruti built its following by sticking to three rules for apparel design: it must be cool , flattering and practical . Founder and CEO Ruti Zisser also wanted to connect specific items to customers who would indeed find them to be cool, flattering and practical. The retailer is taking steps to accomplish this goal by personalizing the in-store shopping experience with a proprietary AI-powered platform that leverages an internally built CRM solution and opt-in-only facial recognition. With this technology deployed across nine boutiques (and a 10 th soon to open in Dallas), Ruti can offer personalized recommendations based on each shopper's fashion preferences, size, likes and dislikes, ultimately helping in-store stylists and designers discover which clothes will be most flattering for shoppers. “When customers come into the store now, we can recognize them and we will have all this info...

(Pictured: Left, Will Hankla; Right, Brandon Pemberton) Over the last decade, the industry dynamics for food companies have radically changed. New distribution points have emerged as convenience, discount and e-Commerce options have begun to directly compete with traditional grocery. Consumers have fallen in love with small brands that gained placement in large retailers — brands that are now taking market share from incumbents. Yet total demand has not increased. In fact, overall food consumption in the U.S. has barely kept pace with population growth over the past few decades. At the start of the recession in 2008, consumers chased value and lower price points, compounding the challenges of sluggish product growth. Private label products captured share as consumers perceived them to be quality alternatives to branded products. In turn, food brands reduced prices to remain competitive. At the same time, consumers began using online price comparison tools in their search for the...

Before the first leaf dropped on a cool, crisp autumn day, holiday decorations were already on display in most local retail stores, reminding us all of the biggest shopping season to come. I admit, I am a sucker for a good Black Friday sale; I already planned for my future house appliance purchases to take place immediately after the stuffing was passed. With U.S. holiday sales rising 3.4% between Nov. 1 and Dec. 24 , according to Mastercard, it is critical for every major retailer to have a strategic plan in place even as the season winds down. This strategy should consider every stage of your customers’ — and potential future customers’ — experience, starting at account creation through the initial transaction, which will then (hopefully) be followed by repeat transactions. In the U.S., online sales were projected to grow 12.7% in 2019 — reaching $138 billion within the year, according to Forrester estimations. As more holiday shopping migrates to the web — online holiday sales...

(Pictured from left to right: Kathryn Deal, Courtney York, Emily Fuller Opp) The retail industry is at the forefront of innovative uses of artificial intelligence (AI) and augmented, virtual and extended reality (XR). Not only can AI and XR tools increase business efficiency and opportunity, but they also enable retailers to provide the customized interactions and convenience that their customers desire. Below we explore current operational and legal trends impacting retail AI and XR. AI And XR Technology Adoption Is Increasing As Retail AI And XR Use Cases Expand To meet consumer demand, drive business and remain competitive in a challenging environment, retailers continue to embrace cutting-edge developments in AI and XR, including in each of the following areas: Predictive Analytics . The power of data is no surprise in the retail context. Robust data analytics incorporating AI allow companies to bolster customer engagement, manage inventory, predict and reduce churn, and ...

Overview: NRF 2020 is Retail’s Big Show. The three-day conference brings together the largest gathering of industry executives for discussions of the latest industry trends and gives attendees an unparalleled view into how retail brands of all sizes are transforming themselves for the digital age. The event offers unique networking opportunities and a glimpse of the latest technologies and solutions for retailers. For more than a century, NRF's annual convention and EXPO has been the annual gathering for industry luminaries and leaders, and it remains the place where big things happen in retail. When: January 12-14, 2020 Where: Javits Center, New York, NY MORE INFO >> from Latest Retail News, Strategies, & Trends - Retail TouchPoints - Retail TouchPoints https://ift.tt/2Q20kQg via IFTTT

Tractor Supply Co.  has promoted Letitia Webster to SVP of E-Commerce, less than a month after the company announced it was bringing in Macy’s President Hal Lawton to replace retiring CEO Greg Sanfordt . Previously VP of Omnichannel, Webster will manage Tractor Supply’s e-Commerce, omnichannel and master data management operations to "drive a common customer experience across all channels," the company said in a statement. Webster joined the company in 2014 as the Divisional Merchandise Manager for Omnichannel. “Over the past five years, Letitia has been instrumental in growing our e-Commerce business and driving our ONETractor strategy,” said Rob Mills, EVP, Chief Technology, Digital Commerce and Strategy Officer at Tractor Supply Co. in a statement. “Thanks to her leadership over initiatives such as buy online/pick up in-store, online returns and the Stockyard in-store kiosks, we have been able to provide a more seamless shopping experience for our customers with posi...

E-Commerce is on a tear. Frost & Sullivan  reports  that annual B2B e-Commerce will reach $6.7 trillion by the year 2020. Meanwhile, eMarketer  estimates  that global e-Commerce will reach $25 trillion in 2019. With so much to gain, e-Commerce businesses can’t afford to lose sales due to poor web site design. For most web sites, there are established best practices that can help you build a useful, functional site. But e-Commerce web sites are unique. They need to manage inventory, process payments and provide a convenient shopping interface. And, they need to work harder to overcome the inherent uncertainties of the internet in order to inspire consumers to part with their hard-earned cash. The bottom line is that e-Commerce sites need to play by a different set of rules than a typical web site. That’s because, as we pointed out in our complete guide on  starting a business , 97% of consumers research their purchases online before bu...

As the first of many holiday season sales results come in, it appears e-Commerce continues to be a chief driver of overall retail revenue growth. Holiday retail sales increased 3.4% , excluding automobile sales, with online sales growing 18.8% compared to 2018, according to the Mastercard 2019 SpendingPulse Holiday Report . The online sales increase is up from the 18.4% growth rate last year. In-store sales for holiday 2019 grew a paltry 1.2% , as digital’s 14.6% share of total sales was a new high, according to Mastercard. E-Commerce holiday sales buoyed various retail sectors. While apparel only saw 1% growth in total sales throughout the season, e-Commerce growth within the category jumped 17% . On a similar note, jewelry experienced 1.8% total salesgrowth, while online sales jumped 8.8% . And although department stores continue their overall sales decline ( 1.8% ), online sales saw a bump of 6.9% . Thanksgiving, which traditionally starts the U.S. holiday shopping seaso...

It’s not hyperbole to say that the subscription model has revolutionized the software industry. As such, it probably shouldn’t come as a surprise that consumer brands and retailers are, themselves, now testing out direct-to-consumer (DTC) and subscription strategies. Nike, in August, unveiled its Nike Adventure Club that for $20 a month will deliver new shoes to kids every 90 days. Urban Outfitters, also this summer, launched its Nuuly subscription program, while Amazon’s Prime Wardrobe, in July, unveiled its own curated subscription box, Personal Shopper . The rush of established brands to launch subscription programs speaks to a number of factors. Evolving consumer behaviors, for one, have fueled the hyper growth of subscription startups offering everything from razor supplies and meal kits to jewelry, pet supplies, toys or any other SKU category imaginable. Beyond offering a “frictionless” experience that appeals to customers, companies are also drawn to the enhanced “stickiness...

The retail space has changed through technology over recent years, be that through the replacement of cash by card, introduction of scanners or business to business (B2B) integration. The emerging technology may transform retail more fundamentally than in the past, where artificial intelligence (AI), logarithms and faster hardware may combine to produce new technological capabilites. As 5G emerges with faster communication speeds that will aid greatly improved location accuracy, new AI and robotic solutions for retail may present themselves. Despite the potential changes in technology, any future changes are more likely to emerge in waves over time than as a single large-scale change. Any new retail technology is likely to only be implemented only when it is able to demonstrate improvements in functionality and capabilities. The retail sector may have significant opportunities for AI and robots to deliver improved efficiencies, reduced costs or improvements in service. Many large ...

Given the phenomenon of constantly rising consumer expectations, retailers would be justified in feeling that the goal of providing a seamless omnichannel experience continues to stay out of reach, no matter how many advances they make. In consumers' minds, each new omnichannel service moves quickly from a nice-to-have competitive differentiator to the " table stakes " category. While consumer expectations continue to rise, the retail executives surveyed for the eighth annual Retail TouchPoints Omnichannel Benchmark Survey are seeing a wide range of benefits from their omnichannel efforts, with a list led by an array of customer facing positives including improved customer service ( 61% ), customer retention ( 54% ) and loyalty ( 52% ). Other key findings from the Benchmark Survey reveal retailers' progress in achieving a number of omnichannel capabilities in 2019 compared to last year: 38% of retailers now provide customers with access to cross-channel real...

Advance Auto Parts will acquire the DieHard brand from Transform Holdco, the parent company of Sears and Kmart , for $200 million in cash. The deal also gives Advance the right to sell DieHard batteries and extend the brand into other automotive and vehicular categories. Sears will still be able to sell DieHard batteries, and Advance is granting Transform an exclusive royalty-free, perpetual license to develop, market and sell DieHard branded products in non-automotive categories. “We are excited to acquire global ownership of an iconic American brand,” said Tom Greco, President and CEO of Advance Auto Parts in a statement. “DieHard will help differentiate Advance, drive increased DIY customer traffic and build a unique value proposition for our Professional customers and Independent Carquest partners. DieHard has the highest brand awareness and regard of any automotive battery brand in North America and will enable Advance to build a leadership position within the critical ba...

Retail has invariably changed and evolved over the past 10 years. A decade ago, it would’ve seemed crazy that you could get all your Christmas shopping done online. That knowledge would have definitely eased the pain of heading out to the mall on Black Friday every year. Even though some consumers are just getting used to vast commercial changes, retail marketers have to stay much more ahead of the curve — especially if they want to predict the monumental shifts that are bound to come in the future.  2020 will close out years of dynamic changes, but here are four predictions to kick off the new year.  1. Social Commerce Will Escalate The gleaming storefronts that previously pulled in window shoppers now exist on social media channels. Today’s consumers are not only more online and more mobile, but more apt to find the things they want via these channels. They also expect the same sort of tendencies from their favorite brands. Just as commerce and the Internet conver...

The Food and Agriculture Organization of the United Nations (FAO) defines food loss and food waste as “the decrease in quantity or quality of food along the food supply chain.” According to FAO, food loss occurs along the food supply chain from harvest up to the retail level, while food waste comes into play at the retail and consumption levels. This distinction is critical to understanding how targeted solutions can be used to reduce the staggering annual levels of food loss and food waste. A recent State of Food and Agriculture FAO report claims 14% of the world’s food can be defined as lost. As of 2019, North America and Europe are the second-most wasteful areas, with 15.7% of the region’s food being lost. The report identifies five key areas where this is happening: at the farm, in storage, in transit, in the shop, and in the home. Significant food loss can be attributed to inadequate storage, which comes as a result of poor temperature control and poor timing decisions in t...

On every porch sits the most significant branding opportunity of the e-Commerce economy: the cardboard box. It may not look like much but, wrapped up with your purchase in that tan cube is a billboard, a salesperson, a fitting service, a customer service rep, a charity and so much more. Since retail moved online and out of the mall, the box is the only in-real-life, tactile experience many direct-to-consumer brands have with their customers. It’s an important micromarketing moment that can make or break your customer relationship, and it’s even more critical for merchants using Amazon as a primary sales channel. The feeling a customer has when opening their purchase plays a big role in strengthening the brand and customer relationship, maximizing purchase delight and enabling a visually stunning recommendation via social media. The box done right can drive profitability, conversion and brand affinity. When you brand and merchandise your box effectively, and hit all the right emot...