The idea of online shopping has been around for decades. The first item purchased online was Sting's Ten Summoner's Tales in 1994 for $12.48. Amazon and eBay, two of the biggest online retailers, launched their sites for the first time in 1995, but even at the beginning of the 2010s, Amazon only accounted for 6% of all retail sales. It took the events of 2020, with a global … [Read more...] about How Technology is Transforming Online Retail
retail
Power of AI In the Retail Sector
Artificial Intelligence (AI) is making inroads into almost every modern industry, and retail is no different. A published study predicted that by the year 2023, the retail sector would typically spend $12 billion on AI. There realistically are several possible reasons for this, but majorly it is because this advanced technology helps in progressively improving productivity … [Read more...] about Power of AI In the Retail Sector
Improving Customer Experience Through Data Quality
Customer acquisition takes a significant amount of resources, time and effort. That's precisely why companies want their customers to stay loyal to the brand forever. However, new eCommerce ventures are launched every day and thus the competition never decreases. There's a limit to how products can be differentiated and the type of discounts you can offer. And this is where it … [Read more...] about Improving Customer Experience Through Data Quality
What is Live-stream Shopping, and How Does it Impact Retail?
With the introduction of lockdown measures and brick-and-mortar stores closing their doors, retailers' reliance on eCommerce solutions has intensified. The push to online and the need to attract and retain customers has made retail brands invest more in digital advertising and bring live-stream shopping to their marketing mixes. A hot trend, live-stream shopping allows making … [Read more...] about What is Live-stream Shopping, and How Does it Impact Retail?
Supermarkets of the Future: Deploying AI in your Grocery Store
COVID-19 is ruthlessly shaping ordinary stores into supermarkets of the future. They must accommodate all the new grocery shopping trends from panic-buying to delivery and pickup options, all with disrupted supply chains. Grocery retailers are responding differently. Some are cutting back on the number of products they sell, some are skipping distributors and contacting … [Read more...] about Supermarkets of the Future: Deploying AI in your Grocery Store
