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This guide is a retail trends report on driving operational resiliency with connected people and systems.
The retail industry today faces unprecedented challenges as they respond to the new ways we work, live, and shop. From offering flexible services to creating solution-oriented products and delivering specialized campaigns, machine learning, analytics and other technologies are empowering consumer brands and retailers to understand their shoppers better and deliver differentiated, one-to-one experiences across all shopping experiences – in online shopping, physical stores, social commerce.
The Retail Trends Playbook 2021 is a report by business intelligence platform PSFK in partnership with Microsoft that presents key trends, best-in-class examples and strategies for executing intelligent retail with the aid of data-driven technologies. Supported with expert insights and key analyses of the global retail landscape and consumer needs, the Retail Trends Playbook 2021 will help brands and retailers define their strategic roadmaps.
This 47-page retail trends report includes:
This retail trends report was developed by the same PSFK research department that since 2004 has provided trends-led innovation consulting advice to Apple, BMW, Facebook/Meta, Google, Microsoft, Samsung and Volkswagen.
Published July 2020
Mining insights from marketplace, consumer and competitor data, AI business intelligence tools forecast industry shifts and make proactive changes to a company’s marketing, merchandising and business strategies.Hyperlocal Curation
Curating stores with a merchandising mix that is tailored to the local consumer market and updated on a regular basis.Anticipatory Support
Retailers are applying machine learning and data aggregation tools to anticipate consumer behaviors and needs based on situational or emotional contexts and provide service or product recommendations. This includes using data generated by mobile apps to create a unified view of a member's shopping behavior and preferences, as well as leveraging RFID and other technologies to detect items that shoppers are interacting with in order to target shoppers in the moment and drive incremental retail...Informed Associates
Despite collecting a variety of insights on individual shoppers from their online shopping browsing behaviors, social commerce usage, purchase history, loyalty membership and location, most companies fail to develop this information into an actionable customer view. New platforms are bringing these details to the forefront of retail interactions, enabling associates to recognize their customers and deliver personalized service. This encompasses the adoption of machine-learning and AI-enabled systems to interpret data and power tailored 1:1 interactions,...