Can AI save brick-and-mortar retailers?

MADHU MATHIHALLI | November 23, 2018

article image
With the recent closing of Toys 'R' Us, the retail apocalypse has claimed another brick-and-mortar victim. The years 2016 and 2017 gave us dozens of retail bankruptcies, including Radio Shack, Gymboree, Sports Authority and The Limited. More are at risk, such as iconic brands Sears and J.C. Penney. More than 10,000 retail stores have shuttered as American shoppers shift their buying online, leaving malls across America facing an identity crisis. Over the last 10 years, e-commerce sales grew significantly faster than in-store retail. That trend should only continue as Amazon, the e-commerce behemoth, gains ground on new fronts such as grocery and pharmacy. Furthermore, when shoppers enter physical stores, they are armed with smartphones with access to digital options — and more information than ever before. Shopper expectations are changing and have raised the bar for retailers. Data shows that customers want to know more about the products they use. One study found that 74 percent of shoppers turn to the internet to seek out answers when they don’t find the information they’re looking for on the label. For now, e-commerce retailers are often better at meeting those expectations.

Spotlight

Crane Stationery

At Crane & Co, we pride ourselves on helping our customers make their own individual mark on the world. Whether designing custom stationery that becomes your signature, forging new business connections with a stylish stack of business cards, or staying in touch with loved ones with handwritten notes, our expert printers are there to help you create lasting memories – just like they’ve been for 200 years.

OTHER ARTICLES

Top emerging technologies transforming the retail experience

Article | April 16, 2020

Due to the latest technology innovations to hit the market, today's retail environment is changing at an unprecedented rate. From robots that can identify shoppers' purchasing habits to immersive virtual reality experiences and the increased popularity in BOPUS, the shopping experience has dramatically evolved in recent years. Consider this: if the average shopper were to hop into a DeLorean time machine, travel back in time to the early 1990s and shop for a sweater; they wouldn't be able to shop online or through a mobile app. Instead, they'd be forced to drive from store to store, aimlessly perusing through aisles and asking sales associates to check store inventory stock via a paper ledger. That shopper would quickly realize just how big of a difference technology makes in the shopping experience.

Read More

Amazon Go Grocery Opens Largest Contactless Retail Store in Seattle

Article | February 25, 2020

Amazon Go Grocery has opened to shoppers in Seattle at 610 E. Pike Street. The grocery store is running on a unique concept in retail, called “Just Walk Out Shopping”. The Amazon Go Grocery now allows shoppers to come in, take what you want, and just walk out. A totally seamless and cashless physical store that offers everything you could ask for! Amazon Go Grocery offers from fresh produce and meat and seafood to bakery items and household essentials plus easy-to-make dinner options. In addition, Amazon members now also have free two-hour grocery delivery from Amazon Fresh and Whole Foods Market in more than 2,000 U.S. cities and towns.

Read More

Next website overwhelmed after re-opening online trading

Article | April 14, 2020

Next returned to selling clothes online this morning after the fashion retailer put extra safety measures in place to ensure warehouse staff can work safely during the pandemic. However, by 9am the website had closed again, with the high street giant saying it had already received all the orders it could process for the day – but it would return tomorrow. Next had initially closed its online operations in late March amid the coronavirus crisis, in response to criticism from staff who felt unsafe at work.

Read More

Google Enjoy Retail store Will take Down Controversial Infowars App

Article | March 29, 2020

The controversial Infowars app, an outlet of infamous conspiracy theorist Alex Jones, has been taken down from the Google Play Keep for spreading misinformation about COVID-19, the illness caused by the new coronavirus. Google confirmed to WIRED that it taken out the application, which had more than 100,000 downloads. The app sold numerous products, contained films and content from Jones, and offered dwell broadcasts of The Alex Jones Display. The Infowars application was eradicated subsequent a online video that was posted to it previous 7 days, in which Jones questioned initiatives in slowing the spread of the coronavirus, which includes social distancing and self-quarantines.

Read More

Spotlight

Crane Stationery

At Crane & Co, we pride ourselves on helping our customers make their own individual mark on the world. Whether designing custom stationery that becomes your signature, forging new business connections with a stylish stack of business cards, or staying in touch with loved ones with handwritten notes, our expert printers are there to help you create lasting memories – just like they’ve been for 200 years.

Events