Justin Grooms emphasizes the importance of integrating personalized experiences and convenience for shoppers, which are crucial for retail success amid evolving market dynamics.
Investing in loyalty incentives and alternative payment methods is crucial for retailers to navigate the post-inflation landscape, allowing them to lower fees and enhance competitiveness.
Grooms anticipates that by 2025, artificial intelligence will enable retailers to hyper-personalize customer journeys, enhancing trust and improving the overall shopping experience.
Recent data indicates a significant shift in consumer behavior, particularly during the Black Friday shopping period, with luxury goods seeing notable increases in both GMV and AOV.
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