Accelerate sales with a frictionless agreement process

Accelerate | August 12, 2020

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In today’s digitally connected world, the way you sell is just as important as what you sell. Best-in-class sales organizations are using technology to gain an edge by automating processes that otherwise consume reps’ time with paperwork and status tracking. A key area of opportunity is the agreement process: how you prepare, si

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Retail Industry Leaders Association (RILA)

RILA is the US trade association for leading retailers. We convene decision-makers, advocate for the industry, and promote operational excellence and innovation. Our aim is to reimagine and transform the retail ecosystem - and equip leading retailers to succeed in it.

OTHER ARTICLES

How Art Van went from a retail juggernaut to a house afire

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The Warren-based retailer's sudden announcement that it would wind down operations comes only three years after its late founder, Art Van Elslander, sold the company to a Boston-based private equity firm, Thomas H. Lee Partners LP, in an estimated $550 million deal. How did a seemingly healthy, valuable and beloved company go so wrong so fast? After its 2017 acquisition, Thomas H. Lee set an aggressive strategy to open 200 more stores and double revenue to $2 billion by 2020. But being saddled with roughly $400 million in debt and no financial cushion to respond to the disruption of changing furniture habits left Art Van's business model sitting on a tinderbox. Management missteps were all the fuel needed to burn the house down.

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What are the biggest barriers to AI adoption for retailers?

Article | February 24, 2020

According to KPMG’s “Living in an AI World 2020 Report,” retailers have some optimism, some skepticism and some pessimism about how artificial intelligence (AI) will impact the industry. The study explored how 751 insiders across five industries, including retail, view the future of AI in their sectors. On the downside, 64 percent of retail insiders agreed that the use of AI to help businesses is more hype than reality right now. The study also identified numerous challenges retailers believe they face in capitalizing on AI’s potential: AI readiness: Just 43 percent of retail respondents believe their employees are prepared for AI adoption. Relatedly, only 52 percent say their companies offer any type of AI training.

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How IoT is transforming the retail industry in 2020?

Article | March 4, 2020

The retail industry has experienced a rapid transformation in the last 20 years. And like other industries, the retail industry is also embracing the Internet of Things (IoT) technology for the innovative opportunities it offers. In fact, IoT has already been embraced in retail all around the world. For instance, the IoT in the retail market has been increasing at a whopping 20% CAGR since 2015 and it is forecasted to reach $35 billion in 2020. That being said, let’s examine the top 4 opportunities IoT technology holds for the retail industry in the year 2020 and how you can capitalize on them. Retailers that have embraced the IoT technology have already experienced benefits like reduced costs, improvement in overall performance, and enhanced customer experience.

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3 SEO Lessons from Amazon for Ecommerce Product Pages

Article | March 8, 2020

Product detail pages on Amazon rank for roughly 34 million keywords in Google in the U.S. In this post, I’ll address three tips for optimizing the product pages on your own ecommerce site using lessons from Amazon. The name of a product greatly influences organic search rankings. Product names are typically in title tags, heading tags (H1, H2), and other metadata. Search engines use product names for relevance signals, and shoppers use them to scan search-result pages. Product names are important for Amazon’s site search. Thus merchants tend to go overboard there. The principle, however, is the same for optimizing search on Google or Amazon. Highly descriptive product names such as “Deck Plus #10 x 3-in Ceramic Deck Screws” leave little doubt both to searchers scanning the results page and to search engine algorithms. However, when a product name is more general, such as “Cuisinart Electric Cordless Tea Kettle,” neither searchers nor engines know with certainty what’s on the page. Which Cuisinart electric kettle is it? Stainless steel or plastic? Big or small?

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Spotlight

Retail Industry Leaders Association (RILA)

RILA is the US trade association for leading retailers. We convene decision-makers, advocate for the industry, and promote operational excellence and innovation. Our aim is to reimagine and transform the retail ecosystem - and equip leading retailers to succeed in it.

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