4 REALITITES RETAILERS FACE IN 2017: DIGITAL TRANSFORMATION, AI AND MORE

Retailers are grappling with a myriad of challenges in 2017, from shifting consumer behaviors to the explosive impact of digital transformation.

To remain competitive this year and beyond, they’ll need to embrace many new realities.

Already, retailers are growing more skilled at providing the right customer with the right message — and offers — at the right time to generate the best results across sales and distribution channels.

Both stores and online shops are growing more empowered with data and a more personalized understanding of customers, gaining better understanding of customer preferences, and better leveraging tools and technologies to become truly customer-centric organizations.

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NEEDLE IN AN ONLINE HAYSTACK: IS YOUR PRODUCT ‘FINDABLE’?

With the product findability process differing by product type and customer base, how retailers ultimately create frictionless experiences for consumers will vary from company to company. However, one thing that is consistent is that it often affects the entire organization, including its people, systems, processes, and customer touch points. To help put it in perspective, let’s think about product findability in terms of people, processes, and tools.

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CONNECTING THE RIGHT PERSON TO THE RIGHT PRODUCT

Product findability, commonly understood as connecting the right person with the right product at the right time, can be a challenge among all retailers. When done well, the benefits are numerous including increases in average order value, conversion, customer loyalty, and operational efficiencies.

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IMPROVE PRODUCT FINDABILITY, IMPROVE CONVERSION

The issue of product findablity is threaded throughout a retailer’s entire ecosystem — merchandisers who share product information, marketers who work on personalization, user experience designers who present product information online and store associates who need access to product information to assist customers.

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