Generative artificial intelligence (AI) has been the fastest-growing consumer application of all time, and retailers are quickly seeing its business value. Some of you are looking for bottom-line improvement, some of you want top-line growth. But everyone agrees your retail AI strategy needs to impact both the customer and employee experience if you want these initiatives to be successful.  Where is your organization in this AI-powered world? Are you running, walking, or crawling? We spoke with dozens of executives and surveyed 1,390 retailers globally to see how they are using AI. They’r ..read more

B2B companies expect more than half their revenue to come from digital channels over the next two years. That’s a big jump — last year, only 30% of B2B revenue was digitally-driven. What are businesses doing to adapt and drive revenue in a mostly digital market? We asked 2,700 commerce leaders how they plan to navigate changing customer behaviors, sky-high expectations, and the rise of new technology (ahem, generative AI). Here’s what we uncovered and the B2B commerce trends that are already emerging. Get insights to move your business forward Learn how leaders are finding success in a changi ..read more

What is insurtech? And why is it growing so fast, attracting $4.5 billion in investment in 2023? The simple answer: Insurtech helps you focus on value (like Warby Parker), personalize (like Netflix), and create more efficiency (like Amazon). Yup, Insurtech is the tool that does it all. With insurtech, everyone — from underwriters to brokers to policyholders — immediately benefits. How is insurance technology changing the insurance industry? Insurtech is the best way to prepare for turns in the cycle and be ready for whatever comes your way. Who is engaging and investing in insurtech? Anyone wh ..read more

Retailers are betting big on the future of artificial intelligence (AI), with 92% investing in the technology. Using AI in retail isn’t new — 59% of retailers use it to help store associates make product recommendations while 55% use digital assistants to help online shoppers. But AI use is gaining momentum as the technology quickly continues to evolve, and retailers are already reaping the benefits. During the 2023 holiday season, $199 billion of sales were influenced by AI.  What do shoppers want next? Discover the shopping trends shaping the global retail industry in the latest report ..read more

Have you heard the urban marketing myth about the 1% Black Friday promotion? A retailer reduced online prices by 1% every time a shopper purchased a particular item. The marketing team thought this retail pricing promotion was genius. Shoppers did not.   Shoppers kept refreshing their screens, expecting others to buy and the prices to drop. But the (heavily inflated) prices didn’t budge, as shoppers continued to wait. Some vented on social media and many abandoned their carts. That kind of promotion can generate a lot of buzz, but it won’t win wallet share or customer loyalty. More t ..read more

Is the economy improving or not? Should retailers be optimistic or worried? Economic indicators are still pointing every which way and the messages seem to contradict each other daily. But if you delve into the numbers of our Q2 Shopping Index, the results get clearer.  First, the good news: Global online sales growth is trending upward. The bad news is U.S. online sales are in the red for the first time since we started the Shopping Index in 2014. Strong macroeconomic headwinds are still putting downward pressure on consumers worldwide to spend carefully and save more, which could impact ..read more

Luxury brands like Gucci and Balmain are leading the retail industry in using technology like non-fungible tokens (NFTs) and Web3 to connect with customers and offer new experiences. Creating exclusive experiences and embracing younger consumers’ need for digital self-expression are luxury retail trends that are shaping how the larger retail industry in general can better engage with customers.  Today, luxury fashion is less about status, and more a form of self-expression. Gen Z and Millennials are demanding more creative ways to connect with their favorite brands. These customers favor ..read more

Some parts of the global economy are starting to improve, but U.S. shoppers aren’t buying it just yet. Retail data shows U.S. online sales were flat in the first quarter — the first period of no growth since we started tracking the trends in our Shopping Index. Our data shows the first quarter of 2023 was a mixed bag for digital commerce. After a comeback in the fourth quarter, global online sales fell 2% year over year. This decline was driven primarily by decreased demand in the U.S. market. But we’re seeing some positive signs around the world: Europe may be poised for a comeback, with onl ..read more

Consumer goods brands lose 25% of sales due to poor merchandising, but the right retail execution solutions can help. To keep shelves stocked, make sure your field reps can access current inventory levels, no matter where they are. Give reps the information they need to execute your display strategy.  Give them access to penny-perfect pricing so they can order and price products competitively. If poor merchandising was responsible for 25% of lost sales, would you change your retail execution solutions? Of course you would. Unfortunately, many consumer goods (CG) brands suffer such losse ..read more

A labor shortage, inflation, and ongoing supply chain challenges are set to make the holiday season less festive for retailers and consumers alike. How can your business stand out when shoppers are buying fewer gifts? By providing customer service they can rely on — fast returns, an easy help center, and questions answered with one phone call. “Customer service can be a revenue booster when done right,” says Kathy Kimple, retail executive director, OSF Digital Strategy. “It can help convert, increase average order volume, and build confidence to drive repeat purchases.” Salesforce research con ..read more