Customer Loyalty in Retail: Technology Trends

Customer loyalty has now become a very hard thing to get for any retailer as customers these days have an abundance of options to choose from when shopping in the highly competitive retail market. Global Data Thematic Research highlights the key technology trends impacting the customer loyalty theme.

Destination Korea – In just a click!

Korikart brings in a flavour of Korea right to our doorstep. This marketplace brings multiple Korean favourites, all at one place. Brands like The Saem, Plan 36.5, Jin Ramen, Mustaev, The Face Shop, Innisfree, Etude House and many more are just a click away on Korikart. Korikart has certainly gained many followers since inception, but how does the brand continue to carry on the excitement with new additions and its impeccable services. Here’s unraveling their story!

Eyeing Growth

In this exclusive interaction with IMAGES Retail, Lalit Agarwal, Chairman & Managing Director of V-Mart Retail Ltd talks about the recovery from pandemic losses and the future of omnichannel retail. Excerpts:

ADIDAS ENDS ITS 15 YEAR SAGA WITH REEBOK, SELLS OFF THE BRAND TO ABG

German sports giant, Adidas has made it official that it has entered into a definitive agreement to sell Reebok to Authentic Brands Group (ABG) for a total consideration of up to € 2.1 billion, with the majority to be paid in cash at closing of the transaction and the remainder comprised of deferred and contingent consideration.

KEARNEY PREDICTS INDIAN E-COMMERCE DOMAIN TO HIT $40 BILLION MARK BY 2030

The e-commerce sector is emerging in a big way in India and keeping in mind the boom and the growth of this sector, the global consulting rm Kearney came up with a report titled “Value e-commerce: The Next Big Leap’s Indian Market” highlighting the growth story of the e-commerce industry in India. As per the report and its findings, India will soon represent an e-commerce market valuing US $40 Billion. This growth comes with the growing consciousness towards value.

Freshness Sealed

Superplum, a start-up backed by some of Silicon Valley’s most notable investors, is addressing Indian agriculture’s issues by building the country’s most sophisticated supply chain for fruits and fresh produce in the country. The company is bridging the gap between the farms and consumers by digitizing the fresh fruit industry.

Shopping Malls: Building A Social Connect

COVID has accelerated technology transformations in retail, but that’s not all. The pandemic has changed the facets of retail across segments, markets, channels and shopping malls too. Today malls are no more just a place to shop, but they have turned into ‘social spaces’.

SOUTH KOREA E-COMMERCE MARKETPLACE TO SURPASS $242.2 BILLION: GLOBALDATA

As the e-commerce trends continue to improve worldwide ahead of the pandemic. The Global Data reports stated that South Korea’s e-commerce market ranked among the top e-commerce marketplaces.

Surviving The PandemicLessons Learned In Online Retail

To understand the challenges and new lessons, roadmaps and constraints related to transformed e-commerce and Omnichannel retail, this session of the ‘Omnicomm Intelligence Series’, discussed the necessary changes and themes basis a roundtable session. The fourth episode revolved around a discussion on the topic ‘Surviving The Pandemic-Lessons Learned In Online Retail’.

Warehouse Leasing to Touch 100 Mn sq.ft. Over the Next Three Years; E-Commerce and Third-Party Logistics to Drive Growth: CBRE

Against the backdrop of robust growth of manufacturing, e-commerce, and third-party logistics (3PL) sectors, the report highlights how Industrial and Warehousing (I&W) activity has gained momentum over the past few years in India

Advantage Of Emotion AI in Retail Specific Recruitment

Emotion AI is a subset of artificial intelligence that can understand, measure, simulate and react to human emotions, enabling them to detect, interpret and respond appropriately to bother verbal and non-verbal signals.

Fraud Prevention: Delivering Trust-Based Customer Experience

The reality is that new users are far more likely to be declined at the point of transaction leading to the immediate loss of this revenue, and in many cases these customers never return meaning longer term loss of lifetime value.

Building Asset-Light Retail Through Transformed E-Commerce

A roundtable, powered by OMUNI as part of the ‘Omnicomm Intelligence Series’, discussed the new roadmaps and constraints related to transformed e-commerce and Omnichannel retail, given the constraints brought forth by COVID. Here’s a brief overview of the session.

Onboard the Digital Wave

The pandemic has accelerated digital transformation all across industries and retail is no different. From adaption of the right tools to changing the internal policies and working style to budget, there is a lot of consideration and over the last year and a half these transformations have been a part of every retailer’s journey. How has the industry responded to digitalisation?

Retail in a Click

COVID19 has forced the retail industry to shift its business model and focus on online capabilities. The pandemic has also altered the consumption volume in the retail sector, with higher consumer preference for home deliveries rather than visiting stores.

Retailers are Looking Forward to June 2021 for Improvement in Sales: RAI

Economic revival is intertwined with the revival of retail businesses especially large formal retail spaces, which are the drivers of consumption. The only way of getting rid of the economic impact of pandemic and saving livelihoods is by everybody participating in sharing of the cost burden and acting to revive retail business activity.

How E-Commerce Has Been A Gamechanger For Indian MSMEs

Internet was once the weakness of MSMEs in India but with the passage of time, the weakness turned into the strength of MSMEs and eventually e-commerce proved to be a gamechanger for Indian MSMEs

How The Jewelry Industry is Riding The New Normal

Technology, particularly social media, has also played a crucial role in helping the gems and jewellery industry to regain what it lost in the year since the pandemic. Many companies have taken a leap of faith by continuing to power on with their businesses along with their partners and consumers, using the digital platform to bridge the gap between the real and physical world as seamlessly as they can…

Organised Retailers Can Partner in Vaccinations

Organised retailers like supermarkets and shopping centres can play a major role in fostering rapid vaccinations. Governments will disburse vaccines to corporations and private organisations, as availability improves, for administering them…

Second Wave of Ad Hoc Localised Restrictions Begin to Hurt Indian Retail Industry

There is a need for a coordinated effort at handling the second wave of the pandemic rather than creating diverse restrictions at the local levels like the local weekend lockdowns, shutdown after a de nite time period, arbitrary testing inside malls, among others...

Social Media Retail: How New Age Brands are Earning Big by Creating & Sharing Their Stories

Having a strong social media strategy in place, these brands are creating a ripple in retail, the effect of which has forced many big brands to pay more attention to their social media presence…

Fabric & Apparel Revenues Up In 2021, Other Sectors Follow Suit

While operating margins for spinners are likely to revert closer to pre-COVID levels, those for apparel exporters may remain marginally lower than the pre-COVID levels amid a competitive operating environment, wherein buyers could be expected to negotiate for steeper discounts…

The Evolving Roles Of Gold Jewellery: Recent Trends & What The Future Holds

With its universal value and stature, gold is often regarded as the best investment for common people. Gold is, and will always be at the top of the pyramid, and therefore India’s appetite for jewellery is pretty considerable…

Permanent Shift in Consumer Behaviour Pushes Retailers Towards E-Commerce, Technology

Global retailers to focus on virtual try-on experiences, AI, technology and e-commerce to provide seamless user experience while maintaining the highest level of accuracy to the consumers…

Phygital Retail Convention: What's Next – CEOs Talk Strategies, Solutions

Consumption is an such an integral aspect of modern lives that even a pandemic of the catastrophic proportions of COVID-19 couldn’t abate it. It did, however, create a big dent in consumer behavior and consumption patterns. Industry titans talk to solutions and strategies which can used to abate the negative effects of the pandemic…

The Unexpected Opportunity: How COVID Accelerated the Digital Journey of Brands & Retailers Along with Customer Experience

COVID has accelerated the digital journey of brands and retailers across industries and catalyzed innovations to offer customers unparalleled assurances and conveniences. IMAGES Retail brings views of leaders in the digital space from across retail verticals on how their organisations found opportunity in adversity and created innovation benchmarks that will define their growth and leadership even beyond COVID…

Pandemic Learnings: Upcoming Mall Developers Talk Consumer Behaviour, New Mall Design

The pandemic-led shutdown of all economic activity threw the Retail and Shopping Centre industries into chaos. Mall supply was severely impacted, and the future of many projects still remains ambiguous. Those who managed to overcome the worst of the pandemic spoke to IMAGES Retail Bureau about how different the future is for them – namely, building agility and resilience to face uncertain times, being fit for growth by aligning costs with priorities and investing in differentiated capabilities and digital levers…

Rewarding Customers for Walking-In is the ‘IN Thing for Retailers Today'

Retail therapy is the best therapy to beat the blues. Post an overextended period of lockdown, as much as everyone seemed enthusiastic to go and shop to their heart’s content, there were many safety concerns. However, the retail community in India ensured that they not just addressed these worries but also designed enthralling marketing strategies to entice people back into their stores. Here’s a quick look at things that worked to create sales way above the expectations of the retailers…

IKEA Focuses on Stronger Omnichannel Play, Local Sourcing in COVID Era

As a purpose-led company, during this time IKEA focused on safety and security of their people, building digital capabilities, meeting customers in new ways as the home became the center of everything in everybody’s lives. The brand aims to reach 100 million people in India online by 2022…

Why Building Omnichannel Capabilities are Crucial for Retail Businesses

In the wake of pandemic, as digitalisation accelerates and consumer buying habits constantly evolve, the need for a sound Omnichannel strategy seems more important now than ever before…