Anyone can buy what you sell, but how do you know they’ll come back to buy from you again? And what is it that brings them back? These are important questions in understanding why your customers buy from you and not your competitors. An important factor that retailers should consider while organizing their sales strategy is how their products, services and everyday interactions make customers feel. Emotion is a major driver for purchases, and an even bigger driver when it comes to loyalty.
One cannot deny the convenience eCommerce provides us today, especially for retail shopping. We can sit on our couch, order whatever we need and it is delivered right to our doorstep. Over the years, eCommerce has seen immense growth. According to a recent TechCrunch article, Amazon’s Prime Day sales in 2019 are expected to push U.S. eCommerce sales to $2 billion. Another article in Internet Retailer mentioned that eCommerce represented 14.3 percent of retail sales in 2018.
Artificial intelligence (AI) can be transformative for every aspect of a retailer’s business. With AI, retailers can automate the supply chain, utilize data to drive sales and hyper-personalize the customer experience. While AI sounds futuristic, it’s closer than you might think. Juniper Research predicts retailers will spend $7.3 billion on AI by 2022, compared with the approximately $2 billion spent in 2018.
Consumers spend more on back-to-school purchases than on Mother's Day, Father's Day and Valentine's Day combined. With Generation Z – the cohort born between the mid-1990s through the mid-2000s – headed back to school, here’s how retailers can get the most out of this major shopping season:
In the last few years, mobile POS has become a big part of many retailers’ in-store strategy. In the latest PYMNTS mPOS Tracker, 67% of surveyed retailers said omnichannel offerings are a priority in 2019. Nearly half, 45%, consider mobile POS to be essential within that strategy.
