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Secondary revenue streams are no longer a choice… but a necessity. As we navigate our way through this pandemic, we can see retailers adapting to new models to safeguard their future within incoming cash. Where alternative revenue streams may have been overlooked previously, retailers are looking to all possible options to generate new revenue. At […]
Behavioural economics has been around for a long time, but its popularity over the past decade has begun to soar to new heights as more and more companies look towards behavioural insights to improve the customer experience and build relationships with customers to achieve competitive edge. While the adoption of Behavioural Economics in the physical […]
Retailers around the world have been focusing on making ordering and delivery easier for customers and they have been using advanced technology to do so. Over the past few years, the Digital Retail Innovations Report has tracked how retailers use technology to solve customers’ problems. The report has unveiled how organisations use artificial intelligence (AI), […]
Global retail sales have increased over the past few years and are expected to reach $21.73 trillion (GBP) by 2020. Statista estimates sales to reach $21.2 trillion (GBP) by the end of this year. Among those posed to make the most of the growth are innovative companies. Businesses that have been using technology to improve […]
In celebration of sponsoring Retail Insider’s Digital Retail Innovations Report for the sixth year running, we’ve identified key technologies that have had a clear impact on the pace of change in retail, and in turn have changed the rules of engagement. Of all the viable trends prevailing industry-wide, Automation, Augmented Reality and Artificial Intelligence are […]
Selling an experience has always been more challenging than selling a product. With an experience, there is nothing to hold and feel, no way to try before you buy. But Virgin Holidays, with the help of design experience company, YourStudio, is reinventing the way that holidays are sold on the high street with a retail […]
Richard Piper, our Business Development Director discusses two fundamental but contrasting strategies: the retention of loyal customers versus the acquisition of new ones. We all know that repeat purchasers spend more and generate larger transactions, yet retailers spend far less time on retaining existing customers. If retailers are to find buoyancy and generate constant revenue in the modern […]