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Early Days: AI Shows Promise And Limitations For Retailers

PYMNTS

Start creating more customer data to feed the algorithm and then you too can join the artificial intelligence (AI) retail revolution. Retailers can engage with an “AI lite” strategy that produces lookalike customer data and a level of predictive analytics. But the present and future of AI in retail is much richer. Not so fast.

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Clienteling Gives Retailers COVID-19 Interaction Options

PYMNTS

Clienteling — the practice of assigning retail sales associates to high value customers — is having a moment. According to Boston Retail Partners , 63 percent of retail personnel can’t identify customers prior to checkout. For retailers, LiveConnect delivers an effective and meaningful way to engage with their customers.

Retail 130
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Why Health And Beauty Retailers Are Driving Digital Innovation

PYMNTS

Amid great technological change, health and beauty retailers are developing strategies to drive innovation. In some cases, retailers are using social media tools such as Instagram to post promotions and product tutorials — or interact openly with consumers about their offerings. The move, however, was publicized in the fall.

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Retail Personalization May Not Come Soon

PYMNTS

Retailers are scrambling to figure out the best ways to provide a more tailored and engaging experience. The study, which surveyed 500 retailers in North America and Canada, was conducted in November and December 2016. Welcome to the age of instant gratification.

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Future Tech Comes To eCommerce

PYMNTS

Future tech is no longer the province of high-end retailers. Innovations in 3D and augmented reality (AR) eCommerce are leveling the playing field and bringing conversion-centered visual technology to any online retailer. But the other two technologies are up and running and will have a tangible effect on eCommerce metrics.

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Federal Reserve’s Cunha on the State (and Timeframe) of Digital Dollars

PYMNTS

And there’ll be quite a bit of tinkering with the technology (especially the infrastructure) and the use cases to get there. Earlier this month, as PYMNTS noted , the Federal Reserve said its Boston bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency.

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New Report: SMS-Based Outreach Helps Merchants Authenticate Consumers, Boost Online Sales

PYMNTS

Retailers, in particular, are wary of adopting 2FA because of the frictions the method can present, and their fears are not without merit. One recent survey found that roughly 50 percent of consumers abandoned onboarding attempts that they described as cumbersome or untrustworthy over the past 12 months, for example.

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