The shifts in retail commerce over recent years are unparalleled, driven not only by global events but also by the rapid emergence of transformative technologies that quickly become expected by customers, challenging businesses to innovate and adapt continuously. 

In this white paper, we’ve gathered the latest insights to provide comprehensive observations on the current status and future trajectory of retail. The result is an in-depth guide that presents the pitfalls you need to watch out for, what trends you need to adopt to boost conversions and the technology you need to accomplish it. 

If you’ve heard about the revolution of composability in commerce tech but aren’t quite sure what it entails, the benefits it offers or how to begin, then this guide is for you. Discover the fundamentals of composable commerce, including an overview of commercetools Foundry, our pre-composed solution designed to expedite the implementation process and enhance time to value.

Furthermore, draw inspiration from best practices and testimonials shared by retailers, brands and B2B organizations who have already harnessed the power of this transformative technology.

Total Retail is pleased to announce the release of the 2024 Retail Technology Report: An Analysis of Market Trends, Buying Behaviors, and Future Opportunities. This annual report serves as a valuable research tool for retailers and brands to help them better understand the technology landscape within the industry, and then apply those learnings within their own organizations.

With consumer behavior evolving and businesses prioritizing cost-efficient operations, retailers are increasingly turning to technology to help them keep pace — both in the eyes of their customers as well as their employees. This is the mandate that all retailers must accept, no matter their size, product vertical, primary sales channel, etc. However, the constraints of budget, talent and other resources necessitate that retailers invest wisely in technology systems that truly move the needle for their businesses, whether it be in the form of improved customer or employee experience, revenue generation, cost savings, among other benefits. A well-defined tech road map is integral to the future success of any retail organization.

The three use cases where the convergence of artificial intelligence and Internet of Things underpinned by event streaming is making a real difference to retailers and their customers are as follows.

Enhancing Every Customer Journey Within the Store

AIoT enables retailers to intelligently take advantage of in-store and customer data to offer highly customized shopping experiences. By using AI to analyze customer data from IoT devices, retailers can tailor product recommendations, offers, and even in-store experiences to individual preferences. Take the instance of providing an in-store customer service assistant that knows where the customer is and, more importantly, where everything else is located.

With a new school year upon us, it’s time for parents to start adding to their children’s wardrobe and replacing the old, worn, now-too-small clothes from last year. When it comes to buying clothes for kids, it’s hard to keep up with growth spurts and many parents — especially in today’s economy — are being choosier about how much money they spend on clothing and how many brand-new items they buy.1 As an apparel brand with a children’s line, how do you create a positive and hassle-free experience for parents and their kids? We’re glad you asked.

This white paper addresses how prioritizing a fit strategy using AI solutions can help apparel businesses increase conversion and boost average order value (AOV) during the holidays, and reduce costly returns in the months after.

Highlights:

How Apparel Businesses Can Use AI to Prepare for the Holiday Rush

Choosing the Best Fit Solution

4 Ways to Leverage Fit Data To Increase Profits and Decrease Returns During the Holidays — and Beyond

Want to know the one thing that will help your apparel brand stand out among the competition and increase brand loyalty? Offer your customers a seamless and personalized experience. Studies show that 80% of consumers wanted personalization from retailers throughout the customer lifecycle, yet very few businesses do it well. Furthermore, companies that excel at personalization generate 40% more revenue than those who do not.

If you were to sit and watch a video of your customers browsing your store, you would undoubtedly see a mix of those who know exactly what they want and can intuitively find it, combined with a sea of shoppers baffled by the array of products offered.

Shopping is meant to be a comfortable and seamless process. However, with the rise of large retail centers, intuitive facility use has been largely left by the wayside. The good news is that plenty of solutions are at hand to improve the shopping experience. Instead of relying solely on asking for assistance, these tools can enhance in-store navigation and make the shopping experience more interactive and informative. Let’s dive into what these tools are.