According to NRF, consumers planned to spend a collective $24 billion on Easter in 2023, up from $20.8 billion in 2022 and the previous record high of $21.7 billion in 2020. As part of this spend, 65% of consumers expected to purchase gifts during Easter, with 53% planning to purchase clothing.

While Easter’s position within retail might typically be associated with quick purchases of chocolate eggs and flowers, NRF’s findings from last year clearly show a growing consumer appetite for wider shopping during the spring holiday. With the Easter period growing in popularity, more retailers are turning to promotions to cash in on holiday excitement.

In order to succeed during the Easter shopping peak, retailers must be able to appeal to in-store shoppers. Brick-and-mortar retail is once again on the rise as consumers search for high-quality, in-person interactions as part of their overall shopping experience. Retailers who succeed during Easter will be the ones who can leave customers feeling satisfied, valued and excited to return.

Our latest blog explores exactly how retailers can deliver eggcellent customer experiences during the Easter period…

Convenience Reigns Supreme

In a fast-paced environment, waiting in checkout queues can be a significant pain point for customers. Busy stores during peak periods introduce the potential for slow processes and long queues. To streamline in-store processes during Easter, retailers should look to implement omnichannel fulfilment that allows in-store visitors to shop in ways that suit them best. Whether buying online and picking up – or returning items – in-store, arranging specific pickup times or simply browsing online before heading in-store to try on different sizes, shoppers have their own unique preferences to how they purchase.

The right order management system (OMS) can enable retailers to fulfil sales from any channel to create seamless purchase workflows. Teamwork Commerce’s OMS solution connects directly to a retailer’s eCommerce platform, automatically generating shipments and fulfilling orders from anywhere. Fitting their Easter purchases around their busy schedules ensures that customers can complete their transactions in convenient ways that ensure they optimize their shopping time. A seamless customer journey plays an integral role in delivering high-quality customer experiences.

Creating Bespoke Experiences

Convenience goes a long way to creating exceptional customer service. However, consumers still want to feel special and a seamless transaction on its own doesn’t necessarily deliver that. If retailers can combine these two factors, they can deliver a streamlined, bespoke experience that is rivalled by few others.

The key lies in personalization, where retailers recognize the needs of their customers and the trends in their shopping patterns to select recommendations that create unique interactions. Ahead of Easter, retailers can draw on last year’s holiday sales data, combine it with the patterns shown by individual customers, and predict the type of items that store visitors are looking for.

Not only are shoppers greeted in-store by a welcoming smile, but all their needs can be met in one place through Teamwork Commerce’s Secure CRM. Whether picking up items, returning purchases, or simply searching for inspiration, in-store associates can assist immediately – offering recommendations for products, colors and sizes based on previous transaction history, or processing a range of fulfilment requests. A unique human touch creates a bespoke experience that promotes a virtuous cycle, where returning customers only provide the brand with more information to use and deliver increasingly accurate recommendations with every interaction.

Cost-Effective Purchases

Once retailers can deliver convenience and a personal touch, much of the leg work for an eggcellent Easter experience has been completed. However, at a time of year when people wouldn’t be too shocked to hear that someone has a ‘chocolate budget’, few would turn down the opportunity to save a few bucks.

Making transactions cheaper for customers is not rocket science. If the same product is available in two competing stores, the consumer is likely to pick the cheaper option – especially if they know they can acquire these items conveniently, while receiving a personalized experience.

Loyalty programmes do exactly as they say: reward customers for their loyalty, and who doesn’t want to be rewarded? Convenience and personalization can quickly reel in new customers, but a rewards programme that promotes longevity is the final piece in the customer experience puzzle, and allows retailers to turn first-time buyers into loyal customers.

Springing into Action

Easter is one of many holidays throughout the year that create opportunity for retailers to increase sales. Enhanced appetite for sales can be a breeding ground for retailers in their hunt for new, long-term customers. In today’s environment, where consumers have high expectations in their shopping experiences, deploying the right technology can be the difference maker between failure and sustainable business success.

Interested in hearing more about how Teamwork Commerce can help your retail business deliver eggcellent customer experiences this Easter? Book a demo with the team today.

Originally posted on: Retail Sector

As 2024 unfolds, the retail industry is facing a spectrum of formidable challenges: a myriad of technologies, the complexities of omnichannel retailing, and the imperative of sustainability are all reshaping the landscape. Retailers are now focusing beyond just identifying trends; they are committed to providing analytics that demonstrate the tangible value added by their technology. Here is a list of the top retail tech trends that will shape the year ahead.

AI-Powered Solutions to make strides

In 2023, AI made huge waves in the retail sector, with retailers looking to use it to drive efficiency across several areas of their business. As per Statista, 73% of retailers are already using AI. Over the next 12 months, a further 15% of retailers plan to implement the technology. Amber Hovious, VP marketing and partnerships at Teamwork CommerceFrom marketing and financial forecasting to customer service and market analysis states that retail leaders will lean on AI to achieve more operational efficiency and deliver high-quality customer experiences in 2024.

Jessica Grisolia, industry solutions director (Retail) at Scandit also reveals that retailers across sectors are taking a deliberate approach to integrate generative AI into shopping – from redefining search, creating personalised, context-specific promotions to optimising internal processes to improve efficiency and drive out costs. Different sectors are likely to prioritise different opportunities for generative AI. For example, apparel retailers are experimenting with conversational shopping, breaking out of the linear Search and Browse experience. General merchandise retailers are seeing increased efficiencies from using generative AI in customer service, especially with returns optimisation. For speciality retailers, AI-powered virtual assistants will be used to elevate high-margin, specialty services across sectors, from home design consultations to makeup appointments to jewellery fittings. Whereas, department stores should look into generative AI’s ability to improve real-time price comparison and deal alerts, as well as overall online search results.

Generative AI plug-ins being implemented into platforms like ChatGPT, Google Bard, Amazon, or Apple could take shoppers all the way to checkout through a live link within the chat interface. Grocers, on the other hand, have a unique opportunity with shopping assistants, as customers can be directed to new brands, products, and ingredients that fit into their diet, budget, and lifestyle—with this channel boosting the power of their retail media networks. We will see more grocers experimenting with generative AI bots that would allow shoppers to create grocery lists based on their budget, dietary preferences, history, and tastes through knowing their preferences and purchase history.

Augmented Reality

Another technology becoming increasingly prevalent across multiple enterprises and in frontline environments such as the supply chain is augmented reality (AR), according to Grisolia. She states that for the store associate managing stock in-store, AR overlays can provide invaluable guidance as to inventory levels (whether in the same or another store, back of house or elsewhere), identification of products in similar-looking boxes and insights into stock expiry dates. As well as optimising inventory for the retailer, it can also significantly increase the efficiency of workers in their daily tasks and enable them to focus on higher-value tasks such as engaging with customers.

Leveraging AR aligns more closely with the needs of the large mainstream retail landscape, which often prioritises proven, reliable, and cost-effective solutions over ‘cool toys.’ In essence, while riding the AI wave might seem tempting, it’s the more incremental innovations like AR that could offer a more practical and immediately beneficial path for retailers, especially when considering the balance between innovation and proven reliability in business operations.

Nisa managed to capitalise on this kind of tech as a result of their desire to use technology to build an instant digital relationship with its customers. The solution implemented? A mobile app-based vouchering system called Scan and Save, integrated with a smart data capture platform presented customers with promotions they could redeem directly from their mobile device using AR overlay.

Martin Johansson, managing director of online florist Serenata Flowers also believes that as an online retailer, AR has the potential to revolutionise the consumer purchase journey by allowing customers to view products in their own homes before making a purchase. We anticipate this technology will become more prevalent in retail apps and websites to provide immersive and interactive experiences for shoppers.

Seamless Omnichannel Experience

In order to retain consumers on their e-commerce platforms and attract shoppers to their stores retailers have to work hard. However, an omnichannel strategy helps them unite these two fronts. When in-store and online experiences are integrated shoppers have more options. Brick-and-mortar retailers are keeping up with the times by offering customers more online pick up in store (BOPIS) alternatives. This blends the speed and customer service of in-store buying with the ease of shopping online.

Additionally, to enhance the experience of using smart shopping carts, retailers will start integrating “Omnichannel Customer Profiles”. The consumer and sales representatives can access these profiles at every touchpoint, and they are updated with each new encounter. Clients are able to create a “smart shopping basket” that they can use to make purchases at any time and from any channel of their choosing. For instance, a customer can save an outfit they like on their app and one week later they can go in-store to try on the outfit. They can finally check out their basket from your online shop a couple of days later.

Data utilisation and analytics

According to Stuart Higgins, partner at BearingPoint, advances in technology and cloud computing mean that it is now far easier to collect, store and analyse large volumes of data, bringing previously impossible analytics capability into the heart of retail decision making. He says that there has been an explosion of data generating devices, such as smartphones and wearable technology and each of us now leaves a digital fingerprint whenever we interact with technology. Retailers can use that data to better understand who we are, what our likes and dislikes are and ultimately, how better to service us in order to enhance our brand loyalty and secure our share of wallet.

He added that retailers can now leverage big data to understand their business and their customers in ways that were not thought possible only a few years ago. They can tailor store ranges and product assortments using local customer demographic data to enhance understanding of who is shopping in which stores and what they are likely to buy. They can use previous purchasing history to curate online ranges so the customer only sees products they are likely to buy based upon previous learning. They can use big data to train AI chatbots to be able to cater for the needs of any customer calling a customer service department. They can generate augmented reality images to allow customers to ‘try on’ clothes before they buy online to reduce the risk of returns. Or they can simply use more granular data to better understand the true cost drivers within the business in order to improve cost and efficiency like never before.

There is a consistent theme here around using the vast volume of data now available to improve business insight. However, one old adage remains; “garbage in / garbage out.” For retailers to truly leverage data and analytics to drive business performance, they need to ensure that the data they are using is clean, consistent, relevant, and accurate – and that requires the development of new data governance and data management strategies which, unfortunately, few retailers currently possess.

Chatbots and virtual shopping assistants

Over the past several years, consumer-focused chatbots in retail settings have helped streamline customer service interactions. With GPT-based models, consumers can receive 24/7 customer support, resolve issues with no waiting, track shipments and receive updates on order status. For instance, eBay introduced a chatbot for Facebook Messenger in Canada that makes it simple for users to buy, sell, and get other service requests fulfilled. Personalised recommendations, purchase tracking updates, and more are all available from the chatbot. Sephora, however, uses chatbots on a number of platforms that offer customised beauty advice and recommendations to its customers.

The last few years have kept retailers on their toes when it comes to living up to evolving consumer preferences. From shopping in physical stores and flaunting their chic shopping bags in malls to ordering online while sipping their morning coffee, prioritizing convenience, customers now have started to embrace a bit of both: online and offline shopping experiences.

Despite a significant appetite for in-store shopping experiences, consumers also seek the convenience of online shopping. In the 2023 holiday season, 85% of customers planned to purchase at least one item in a physical location, according to McKinsey. Meanwhile, a survey by Bank of America found that 42% of customers intend to spend more online over the next 12 months.

In this blog, we’ve outlined five key predictions and trends that will shape the retail industry in 2024, from AI to omnichannel experiences and marketing strategies. Let’s dive in!

AI to Make Significant Strides in Retail

In 2023, Artificial Intelligence made huge waves in the retail sector, with retailers looking to use it to drive efficiency across several areas of their business. As per Statista, 73% of retailers are already using AI. Over the next 12 months, a further 15% of retailers plan to implement the technology. From marketing and financial forecasting to customer service and market analysis, retail leaders will turn to AI to achieve more operational efficiency and deliver high-quality, and even hyper personalized customer experiences in 2024.

As more retailers plan to integrate AI into their retail operations, technology vendors have also started to strengthen their AI capabilities. In the past few months, the industry has seen several collaborations aimed at bringing AI to the retail’s doorstep.

In October 2023, Teamwork Commerce partnered with Google Cloud to develop new generative AI features in its industry-leading Mobile Point of Sale (POS) and Order Management System (OMS). With this collaboration, Teamwork Commerce aims to redefine and uplift the retail experience for enterprise retail organizations, providing opportunities to improve efficiency, customer engagement, and sales.

Omnichannel is Now a Necessity

The omnichannel boom has enabled customers to shop at their convenience. Rather than making impromptu purchases, customers now are more likely to research a product online before they finally buy it. In addition to that, many shoppers prefer purchasing using the Buy Online, Pickup In-store (BOPIS) option to enjoy both the in-store experience and online convenience.

The demand for unified shopping experiences is only set to increase in 2024. Omnichannel retail is now of vital importance to retailers. Retailers who can provide their customers with a connected shopping environment are more likely to attract and retain long-term customers.

Modern Payment Methods to Reach New Heights

Many retailers are embracing smart payment solutions such as tap-to-pay, pay-by-link and QR code payments to cater to the diverse needs of customers. These solutions not only enable retail associates to complete transactions more efficiently but considerably reduce checkout queues.

Given the increasing need for smooth customer interactions, 2024 is set to push retail boundaries with these advanced solutions and bring them to the retail mainstream. Eventually, it will become imperative for retailers to deploy modern payment solutions to provide hassle-free checkout experiences to their customers.

Growth of eCommerce

Insider predicts retail e-commerce sales will continue to grow 10.1% YoY, while non-e-commerce sales will only grow 2.0% YoY in 2024. The forecast aligns with recent estimations of Statista, which indicate a new peak of $1.5 trillion for revenue in the US e-commerce market by 2028. These projections strongly indicate a further spike in e-commerce sales.

In order to capitalize on this e-commerce buzz, retailers need to be able to provide a connected experience to shoppers, providing them with clear visibility of available stock, estimated delivery times, and real-time tracking abilities.

Demand for Sustainability

According to Statista’s Consumer Trends 2024 report, sustainability is at the forefront of shoppers’ decision-making. Ethical spenders plan to purchase from eco-friendly brands even during challenging times. It is clear that sustainability isn’t just a buzzword anymore, and will be a crucial part of consumer buying decisions throughout 2024 and beyond.

Overall, we anticipate that sustainability is likely to be on par with high-quality shopping experiences. With growing cautious spending and the rise of conscious consumerism, delivering high value to the customer, sustainably, should be a priority for retailers to attract customers and generate higher sales. Those who can deliver high-quality unified shopping experiences sustainably can well cater to evolving consumer preferences in 2024.

Integrating various retail operations is a must to provide connected shopping experiences for customers. Looking for an all-encompassing software to deliver top-tier unified shopping experiences? Book our demo here.

The season of love is here and Cupid’s arrow is pointing directly at the retail industry. Stores are decorated in shades of pink and red, creating charming displays of affection, and consumers are busy looking to spoil the significant people in their lives. Valentine’s Day has evolved beyond the traditional romantic holiday for couples with the rising popularity of “Galentines” and “Palentines”, and the retail industry is at the center of the love-filled holiday, allowing customers to find the perfect gifts and express their appreciation in their own personal way.

There will be a million reasons to list why people love the special ones in their life, but here are 4 reasons why we LOVE retail:

Spread the Retail Love

The joy of the romantic season can be infectious. With in-store sales assistants helping to spread the love by delivering exceptional customer service and ensuring customers feel welcomed into the store, shopping can quickly transform from a dull task to a highly enjoyable experience. For a holiday renowned for encouraging people going above and beyond to show their appreciation for others, in-store staff can play an important role in driving customer satisfaction to new heights, delivering exceptional experiences that leave customers feeling valued.

One and Only Omnichannel 

Finding the perfect gift to express feelings can be tough, and sometimes the gift-giving aspect of Valentine’s Day can become a little last-minute. With this in mind, when someone finds the perfect item, they want to complete their shopping experience with as little friction as possible – and as quickly as possible. Stores implementing a robust omnichannel strategy can bail out any customers against the clock, allowing them to buy online before picking up in-store at their earliest convenience. No more droopy gas station flowers. The perfect gift is accessible immediately in today’s expectant retail world – without even breaking a sweat.

Customers Finding their Perfect Match

From the classic box of chocolates and a bouquet of flowers to jewelry or custom made gifts, stores offer a range of products to suit everyone’s love language. Retailers with a secure customer relationship management (CRM) system can utilize real-time data of browsing habits and interests, and recommend the perfect gift for their customers with limited hassle. Once again, convenience reigns supreme, with personalization reducing browsing time and keeping customers happy through a bespoke service that meets their needs.

Personalized Gifts with Personalized Discounts

Valentine’s Day presents the perfect opportunity to make loved ones feel cherished. While many might expect no expense to be spared, wouldn’t it be great if it could be? It is hard to express that warm, cozy feeling of picking up a great deal… some might call it love. Retailers that can roll out enticing offers and promotions for their customers to enjoy and indulge in can quickly find success in a highly compteitive retail climate. Personalized discounts not only give customers the opportunity to spoil their loved ones, but it also makes them feel valued and appreciated during the love-filled holiday.

Love is in the Air

There is no denying the joy and romance that captures the world during Valentine’s Day – and the retail sector plays a vital role in helping customers express their love and appreciation for those who hold a special place in their hearts. From enchanting displays of affection, to an array of gifts suited to everyone’s romantic needs, retail has everyone covered.

Don’t leave customers feeling unrequited love for your store this Valentine’s Day. Instead, embrace the occasion and book a demo with Teamwork Commerce here.

Consumer Trends Impacting Retail in 2024

Another year has passed! And what a year it was. From Rihanna announcing her second pregnancy in the middle of her Super Bowl performance to a new Rolling Stones album nearly 60 years after their debut record, 2023 had it all.

In between, we’ve had so much to digest. No one would have had ‘Gwyneth Paltrow mic dropping a retired optometrist over a skiing collision’ on their 2023 bingo card. Jack Black sang about Peaches, King Charles III was coronated, generative AI convinced the world that Pope Francis struts around the Vatican in a white puffer jacket, and Barbenheimer took the film world by storm.

Finally, we can’t finish reminiscing about 2023 without mentioning Time’s Person of the Year, Taylor Swift. From topping charts and the box office to dating Travis Kelce and seeing the year out in a photoshoot with her cat; there wasn’t really much Taylor Swift didn’t do this year.

As we step into 2024, pop culture will undoubtedly throw another few curveballs to the world over the next 12 months. However, in a slightly more predictable space, shopping habits continue to evolve in response to current affairs – and the retail industry is steadily preparing, ready to cater to their customers’ ever-changing demands.

In this blog, we’ve outlined 6 consumer and retail trends to watch in 2024. Let’s dive in.

Human Touch

2023 saw a boom in AI (Artificial Intelligence) from a consumer perspective. While the technology has been developing gradually in the tech world for years, generative AI brought it to the masses (remember Pope Francis’ jacket?). According to Survey Monkey’s AI in the Customer Experience report, 90% of consumers prefer to receive customer service from a human rather than a chatbot, with 61% claiming that humans better understand their needs than their technology counterparts.

As retailers look to introduce AI to their shop floor operations, consumers will still crave a more human shopping experience – specific human skills and emotions that can’t be replicated by a computer.

Nothing beats a welcoming smile when being greeted in-store. Technology deployment is important in retail, but not as important as the people that bring the business to life. 

A New Spin on Value

Today’s consumer wants quality – but in new ways. Traditionally, the term might have referred directly to reliable, high-quality products themselves. However, in today’s environment, ‘quality’ extends beyond the product itself.

Consumers today see quality in convenience and flexibility – and anything that can make their life easier. In fact, Numerator finds that a whopping 82% of shoppers believe that convenience is either extremely or very important for them. For a retailer, this might be a case of providing a range of fulfillment options, such as same-day delivery or Buy Online, Pick-up In-store (BOPIS). It could also be as simple as providing a seamless in-store experience – from greeting through to the checkout.

Interestingly, even in the current economic climate, consumers seek, and are willing to pay for this additional ‘quality’ in online shopping and physical stores. They crave value at every opportunity.

Promotions Galore

The ‘quality’ conversation introduces our next trend: promotions, offers and discounts. It is no secret that we are in a cost of living crisis. While shoppers might be willing to pay for better quality and convenience, they are still shrewd with their purchases, and have a higher appetite than ever for a great deal.

Outside of Boxing Day Sales, Amazon Prime Day and Black Friday, retailers in 2024 should pay specific attention to the promotions they run. Running promotions en-masse might seem effective, but in order to reach customers on a personal level, deliver value through interactions and develop strong relationships. Undoubtedly, curating offers on an individual basis, tailored to each shopper and their preferences, can go a long way to driving retained business.

Still Keen for Green

A popular trend within retail for a few years now, sustainability remains high on the agenda for consumers. According to PwC, 70% of consumers are willing to pay more for sustainability sources goods, making this characteristic crucial when making purchasing decisions. 2023 saw fast fashion come under fire on a number of occasions, and with e-commerce initiatives gaining momentum with both consumers and retail brands alike, work is clearly being done across the industry for businesses to become more environmentally friendly.

With that said, it isn’t enough to simply tweak a few practices on the shop floor and fool customers. The supply chain is equally – if not, more so – important in improving sustainable practices, and consumers recognize the value in minimizing waste and optimizing both manufacturing and transport practices.

Social Commerce

Social commerce entails utilizing social media platforms as channels for both customer acquisition and sales within digital commerce strategies. Social commerce is a branch of e-commerce that, despite growing hype for its use over the last few years, hasn’t really taken off in the West yet. Taking inspiration from Asia, where WeChat’s retail success acts as the perfect case study for social commerce’s value in society, a number of brands are beginning to find ways to roll out a social commerce offering.

The popularity of apps such as TikTok, Instagram and WhatsApp, combined with today’s streamlined mobile payments, is now beginning to turn the wheels of social commerce for several retail brands. The market size of the up and coming branch of e-commerce currently stood at approximately $2.4 trillion according to Global Data. Of course, eastern influence carries much of the load on that number, but as wider adoption across the planet continues, the market is expected to reach $11.1 trillion by 2030. Keep an eye out for its potential boom in 2024.

Into the Future

It isn’t news that consumer demands dictate the tempo of the retail industry. As consumers expectations grow, retailers must keep in-tune with any implementations that affect the supply chain, marketing strategies, technology, and other relevant areas. Today’s customer wants to feel special, and they crave simplicity. Whether adding a personal touch in-store, providing a range of fulfillment options for their convenience, or simply demonstrating eco-friendly credentials – the little things can make all the difference in 2024.