A Look at Retail's 2018 Q2 Earnings

It’s halfway through the year, so it’s only natural to take a step back to get a pulse on the retail industry as whole. As the back-to-school season winds down and retailers start to prep for the holiday season during the second half of the year, it’s time to reassess where some of the major players stand.

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Topics: retail news, brick-and-mortar retail

Top Retail Industry Experts to Follow on Social Media

With the constant stream of blogs and articles pouring into the chaotic whirlpool of retail news each day, prioritizing what to consume on the reg. can get pretty overwhelming. For that reason, we pulled together a list of top retail industry influencers to follow across social media (Twitter, LinkedIn, Facebook, etc.), whose fresh perspectives have proven useful and insightful time and time again. 

Listed in alphabetical order, check out this list of notable retail industry experts on social media for unique and quality content on the happenings behind the long, unpredictable retail journey ahead of us:

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Topics: retail news, consumer insights, brick-and-mortar retail, technology adoption, consumer trends, ecommerce

Why the Biggest Problem with AI is Human

Every brand in retail is talking about AI. We’ve read the reports, the articles, and the survey results about all the different pain points AI can solve for retailers. From all the chatter around groundbreaking innovations and the changing retail industry, brands understand this need for technology in order to adapt. 

And there isn’t a shortage of technology solutions out there either—retailers have a ton of options. 

Understanding this need, the need for tech, then why is it so difficult to actually adopt? Why are retailers still struggling to keep margins afloat and adapt to the digital consumer? 

What’s the biggest problem with AI in retail?

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Topics: inventory optimization, data, advanced analytics, digital transformation, artificial intelligence, machine learning

How Retailers Like Target and Walmart Prep for Back-to-School Shopping in 2018

“Back-to-school (B2S) season is the second-biggest shopping season of the year, with 29 million households across the United States planning to spend a total of $27.6 billion.”- Deloitte

Although it may feel like school just got out for summer, it’s never too early to start delivering on the back-to-school rush of sales, promotions and events.

With Prime Day under our belts and many legacy retailers looking for ways to compete during the summer months, we have our eyes glued to how a couple of major brands are offering a back-to-school shopping experience like no other. 

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Topics: consumer trends, consumer habits, back to school, customer experience, delivery, convenience

Why It's So Difficult to Introduce New Products to Your Assortment

“One of the biggest challenges that companies face is predicting demand for new products over time. Overestimate it, and risk warehouses full of excess inventory. Underestimate it, and your customers could leave empty handed—or you might be left with a hefty bill for expedited delivery.”Kellogg School of Management, Northwestern University 

Innovate or die trying. 

The phrase is almost as overused as “retail apocalypse,” yet a concise depiction of what retailers face constantly when we think about the video-gone-viral level of speed behind the changing retail landscape and unpredictable nature of demand. 

As if determining the optimal assortment wasn’t already difficult enough, introducing new products to your strategy when some fashion trends barely last is a risk merchants must take. 

When it comes to new products, retailers are getting burned (more often than not) when a quick pivot or adjustment to changing demand is unmet. Today, these losses hurt big time, especially considering retailers are clenching onto their purse strings more tightly than ever.

Why is it so difficult to accurately predict consumer demand for a new product? And, more importantly, how can we overcome these difficulties? 

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Topics: inventory optimization, data, consumer trends, consumer habits, demand prediction, advanced analytics

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