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Navigating the AI revolution: Retail experts weigh in on the state of affairs

Inside Retail

From designing bespoke products to crafting targeted marketing campaigns, the potential applications of generative AI in retail are limitless. From a wider business perspective, AI provides real-time responses, finds gaps, and uncovers data patterns, which ultimately drives better insights-based strategy and decision-making,” he noted.

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Factors That Affect the Retail Industry Nowadays

RetailMinded

For a retail business, it’s a kind of perspective that goes beyond demographics. Sort of an update to the concept of word-of-mouth, these people are the ones who your client turns to for reference, and might even be who your consumers seek product reviews from. Primary influencers can be friends, family, and even co-workers.

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Successful New Product Development in Five Steps

Retail Bound

Developing a new product concept that focuses on customer needs also takes advantage of all the pieces you already have in place. If you direct your development team to understand and optimize your new product ideas to maximize customer value, your final product will open up new markets and grow market share in your existing target market.