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The four trends defining online retail in 2024

Inside Retail

Thanks to rapid innovations in supply chain management, AI technology and digital marketing, e-commerce is increasingly playing an integral role in the lives of everyday Aussies. Four key trends stand out as high-growth opportunities for online retailers.

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Six Principles for Redefining Retail with Responsible AI

Retail TouchPoints

The role of such a committee — consisting of individuals from different departments and backgrounds — extends from supply chain management to customer interaction. This could include scenarios like the use of AI in targeted advertising, ensuring that algorithms don’t reinforce stereotypes or invade customer privacy.

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It’s Official – Amazon is an Ecommerce Enabler First and a Retailer Second

Retail TouchPoints

Perhaps most importantly, “a decade ago, very few of you were using things like Amazon Advertising, Amazon Lending and Fulfillment by Amazon (FBA), and things like Brand Registry, Seller-Fulfilled Prime, Seller University and even Amazon Accelerate didn’t exist,” said Mehta at the event.

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Sick of hearing about AI? The key is understanding how to make it work for you

Inside Retail

Targeted advertising: You can use data to target promotions effectively, enhancing campaign ROI. Supply-chain optimisation: It is reported that AI-driven supply-chain management can reduce errors by 20-50 per cent, decrease lost sales and product unavailability by up to 65 per cent, and lower warehousing costs by 5-10 per cent.

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Why dropshipping is making a resurgence for small businesses

Inside Retail

In a joint study between Deloitte and Manufacturers Alliance, 80 per cent of those surveyed had experienced heavy supply chain disruption in the 12-18 months to June 2022. That’s why we’re moving beyond just-in-time versus just-in-case to a different model for supply chain management.

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Top 10 Technology Trends in Retail

Retail TouchPoints

Inventory and management tech. With retailers focused on digital systems, inventory and management tech has also taken leaps forward. With tech tools that offer automatic supply chain management, incorporate AI order management, real-time inventory analytics and more, inventory and management tech grows increasingly sophisticated.

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How Data Analytics is Impacting Retail in 2021

Independent Retailer

If the system shows an upcoming trend of interest in a specific fabric, home decor stores can advertise that material or pattern at the front of the store or online. Supply Chain Management. Then, more retailers can use that purchase data to know what to order and advertise that item or service more often.