In 2023, AI-driven personalization revolutionized retail. Leveraging advanced algorithms to deeply understand customer preferences has become a commodity. Tailored recommendations and marketing resonated with individual tastes, fostering stronger connections and loyalty. This level of customization streamlined decision-making, elevating shopping experiences. AI's continual evolution enabled swift adaptation, ensuring relevance in real-time interactions. Personalization emerged as the industry cornerstone, redefining retailer-consumer relationships. Its precision and relevance set new standards for engagement, shaping the future of retail experiences.
Tobi Buxhoidt
CEO, parcelLab
There’s been a significant focus on improving the efficiency, cost and sustainability of products returns. Brands have realized they need to get better at managing the products that come back, not just what goes out. They are making new investments in returns management technology and experimenting with when, how, or whether to charge customers for returns. Customers are saying they prefer in-store returns over mailing in boxes, and so brands are following suit with new partnerships and drop-off options that also reduce waste and returns processing costs. Recommerce programs have exploded, and I expect we’ll see even more in the years to come as brands explore more sustainable options for their used items.
Gaurav Saran
Founder & CEO, ReverseLogix
Shahin Kohan, a seasoned and trusted technologist, businessman and advisor, is on a mission to catalyze the potential of people and organizations through the power of technology. Three decades of experience working across industries has granted him the knowledge, resources and perspective to effectively create solutions to problems of any size, and ultimately help others make their impact on the world. His companies, including AIMS360, the leader of fashion technology, and Kumo Technology, a pioneering workflow innovation and software development company focused on the private lending industry, allow him to achieve that goal. A proud American immigrant raised amidst the struggle of Tehran, Iran in the 70s, his inspiring journey of possibility, persistence and passion fuels his deep appreciation and endeavor to make technology more accessible, human and powerful for all.
Firstly, the industry has seen a dramatic increase in theft and shrink in 2023. Retailers have had to make operational changes in terms of security and additional measures for locking down more expensive products inside the store. We have even seen some retailers retreat in certain high shrink markets, more notably is Target.
Secondly, is the staying power of grocery e - commerce. Many analysts believed that the pandemic would only be a blip in terms of the increase in online sales. The reality is Brick Meets Click recently announced US eGrocery Sales for October 2023 of $8.2 billion, which is not that far off from $8.4 billion recorded in April 2021, following the $9.3 billion recorded at the height in March 2021.
Sylvain Perrier
CEO,Mercatus
Shahin Kohan, a seasoned and trusted technologist, businessman and advisor, is on a mission to catalyze the potential of people and organizations through the power of technology. Three decades of experience working across industries has granted him the knowledge, resources and perspective to effectively create solutions to problems of any size, and ultimately help others make their impact on the world. His companies, including AIMS360, the leader of fashion technology, and Kumo Technology, a pioneering workflow innovation and software development company focused on the private lending industry, allow him to achieve that goal. A proud American immigrant raised amidst the struggle of Tehran, Iran in the 70s, his inspiring journey of possibility, persistence and passion fuels his deep appreciation and endeavor to make technology more accessible, human and powerful for all.
2023: Retail's Standout Year
2023: Retail's Standout Year
Shahin Kohan, a seasoned and trusted technologist, businessman and advisor, is on a mission to catalyze the potential of people and organizations through the power of technology. Three decades of experience working across industries has granted him the knowledge, resources and perspective to effectively create solutions to problems of any size, and ultimately help others make their impact on the world. His companies, including AIMS360, the leader of fashion technology, and Kumo Technology, a pioneering workflow innovation and software development company focused on the private lending industry, allow him to achieve that goal. A proud American immigrant raised amidst the struggle of Tehran, Iran in the 70s, his inspiring journey of possibility, persistence and passion fuels his deep appreciation and endeavor to make technology more accessible, human and powerful for all.