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How AI is Revolutionising the Retail Sector

Retail Focus

Predictive analytics provides retailers with a data-driven approach to demand planning and inventory management. Optimised Pricing Finding the optimal price point to maximise profits while remaining competitive is a constant balancing act in retail. This boosts efficiency and allows staff to focus on high-value tasks.

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How AI is Helping a Brooklyn Thrift Store Amp Up Both Sales and its Environmental Impact

Retail TouchPoints

The company was founded by two veterans of fellow circular economy tech solution Happy Returns , Andy Downard and Josh Packard, and uses AI to tackle one of the trickiest facets of secondhand retail pricing. Eventually we also want you to be able to do self-checkout with your own phone.

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Digital Is Turning Retail Into An On-Demand Model

Retail TouchPoints

For example, sustainable ‘rental fashion’ is one phenomenon taking over the industry as Millennial and Gen Z consumers, who value access over ownership, buy into the concept of hiring clothing at a fraction of the retail price. This makes clear how radical the impact of digital transformation has been in nearly every industry.

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A cost-of-living crisis is brewing in Asia. Here’s what it means for retail

Inside Retail

At first, it seemed like Asia might get off lightly – most governments and professional economic forecasters in the region said so – but cost of living pressures are rising across the continent, with food, energy, rent and labour costs now all key drivers of retail price inflation. per cent, department stores were up 42.8

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What’s old is new again: The rise of rental

Inside Retail

I thought how good it would be if I could rent it for a year, then decide if I wanted to keep it or return it. At the end of your term, you can buy any pieces you fall in love with, or our team will pick up the items you want to return. And in most cases, you end up paying more than the retail price for an item by the end of your term.

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Kiwis ‘not served well’ by grocery duopoly, but report reactions mixed

Inside Retail

HortNZ CEO Nadine Tunley said greater transparency would enable consumers to understand better the price they pay for New Zealand-grown fruit and vegetables. Pointing out that grower returns have not increased for at least 10 years, she said retail prices and costs – labour, freight and compliance – have steadily increased. “In

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These Were the Top Retail Stories of 2022

VMS

W ITH THE WORLD adjusting to Covid a few years later as less of a threat and more a part of everyday life, retailers sought to return to business as usual. In California, Amazon-owned Whole Foods stores launched palm-scanning technology at checkout. Retail prices have inflated and consumer demand has softened.