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Why Retailers Are Turning to Third-Party Marketplaces

Harvard Business

Some traditional retailers including Walmart, Target, and Best Buy are adopting third-party marketplaces, which connect customers with external sellers and thereby offer customers a much broader selection. Many other traditional retailers are considering whether to follow suit. Making the choice isnt clear-cut.

Retail 228
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How Digital Technologies Could Boost Tiny Retailers in Developing Countries

Harvard Business

Micro-retailers are vitally important to the economies of developing countries and to consumer packaged goods companies. Three strategies can address them. But their full potential is not being realized. The adoption of digital technologies could help change that. But for that to happen, obstacles must be overcome.

Retail 248
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3 Changes Retailers Need to Make to Survive

Harvard Business

Few industries are being disrupted as drastically as the retail industry. More retail purchases are moving online, and a growing number of manufacturers now sell to consumers directly, cutting out retailers entirely. The Gap Between Strategy and Execution. Below, we explore each one, in turn: Empower mid-level teams.

Retail 128
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Leveraging AI for Enhanced Business Performance

Effective Managers

Examining Practical Applications of Artificial Intelligence (AI) in Improving Business Processes Leveraging AI into business operations has become a transformative force across various industries. AI in Streamlining Operations AI technology has made significant strides in optimizing operational efficiency.

Ethics 243
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A Study of 46,000 Shoppers Shows That Omnichannel Retailing Works

Harvard Business

Traditional retailers are feeling the heat. Even as competition intensifies , shoppers’ visits to retail stores are declining every year, leading one industry veteran to ominously ask his peers , “Is anyone not seeing large traffic declines?” ” Online retail, on the other hand, is thriving.

Retail 134
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Missing the AI Boat: The High Cost of Staying Behind

Chad Barr

Retail : AI-powered inventory management reducing waste and optimizing stock levels. Business Operations : Virtual assistants scheduling meetings, automating reminders, and handling repetitive tasks seamlessly. Optimize : Regularly review and refine the impact of AI on your operations.

Tools 98
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How Online Retailers Can Avoid Costly Out-of-Stock Issues

Harvard Business

A/B testing by Instacart suggests that telling customers about stocking times can increase spending and decrease the proportion of items replaced or refunded.

Retail 212