Omnichannel
AI, loyalty, in-store experience most-read blog topics in 2024
Here’s a peek at the top five contributed blogs that caught the most reader attention in 2024.
December 10, 2024 by Judy Mottl — Editor, RetailCustomerExperience.com & DigitalSignageToday.com
While AI continued to be the hottest topic in retail customer experience in 2024, retail CX leaders were clearly interested in learning how to evolve the in-store customer experience and creating a more alluring, and rewarding, loyalty program for consumers.
Here's a look at the top five contributed blogs on RetailCustomerExperience that caught the most reader attention in 2024.
No. 1: AI overload: The good, the bad, and the ugly impact on customer experience
With 92% of businesses leveraging AI-driven personalization for growth, and 62% of leaders noting enhanced customer retention, the power lies in AI's ability to analyze extensive data, allowing retailers to deliver tailored products based on individual preferences and interactions, according to Tomer Azenkot, CEO of Vee 24.
AI can be a home run for the customer experience, wrote Azenkot, as it can handle multiple queries at once and provide real-time order updates, freeing up agents to handle more pressing service requests; however, as with any powerful tool, there is a fine line between being productive and counterproductive — and sometimes AI strikes out.
No. 2: Blending tangibility and technology to flourish in the 2024 in-store retail redux
In an era dominated by digital and online platforms, shoppers have spoken, and physical stores are here to stay and evolving, according to blog contributor Carl Rysdon, vice president, retail industry, for Ricoh USA.
"This renaissance may come as a surprise as we begin 2024. Only a decade or so ago, it seemed like brick-and-mortars were dropping left and right as the growth of e-commerce accelerated, suggesting the future of retail would be mostly based online. We all remember category leaders like Borders going out of business, and how retail giants like Sears have been reduced to just a handful of stores across the country," wrote Rysdon.
No. 3: How personalization and digitalization can drive customer loyalty
Amidst the current cost-of-living crisis, U.K. shoppers have tightened their purse strings, presenting a formidable challenge for retailers to remain competitive, according to Edward Drax, Yocuda's CEO.
With less money to spend, customer spending habits are shifting and this is impacting brand loyalty, he wrote. "In these times, shoppers prioritize thoughtful purchases, underscoring the importance for retailers to adapt and connect with customers on a deeper level. For major retailers navigating these stormy financial waters, maintaining a loyal customer base is more crucial than ever. This is a lesson some brands are having to learn the hard way as they grapple with weakening ties to repeat customers, leaving them vulnerable to competition." In the blog, Drax offers data-driven insights and strategies for brands and retailers to foster lasting customer loyalty in an ever-changing landscape.
No. 4: E-commerce lessons for 2024 customer loyalty
As the year closes, retailers are looking back at where their biggest wins in 2023 will inform new ways for them to deliver more unforgettable experiences in 2024 to inspire lifelong loyalty, and continue fueling e-commerce growth, according to Terence Delahaye, co-founder and COO of Shipup.
"When it comes to the livelihood of a brand, nothing is more pivotal than customer loyalty. While earning that trust is no easy task, 2023 continued to show that all of that hard-earned goodwill can easily be destroyed with just one disappointing experience. To overcome the fickle nature of consumer preference trends, brands saw two of the biggest industry changemakers with social media and AI tech," he wrote.
No. 5: How retailers can leverage the power of Gen AI to enhance the customer buying experience
Investment in gen AI is snowballing, given a forecast that generative AI-related product and service revenue will skyrocket from $40 billion in 2023 to $1.3 trillion in 2032, according to Tony Klimas, a partner and president of Horváth US, and Nikolas Spatz, leader of the US retail and revenue management practice.
"Tech giants Adobe, Alphabet (Google), Amazon, Microsoft and Salesforce are pouring billions into the technology. So are the world's leading advertising agencies, such as Publicis, WPP and Intercom. WPP, for example, said it will invest $318 million annually in AI to serve clients better and manage costs," wrote Klimas and Spatz.
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