How retailers can prevent fraud in an era of evolving AI
WEB16 hours ago · Retailers must invest in AI systems that are trained on high-quality data and continuously refined to minimise such false positives. Also, despite the advancements in AI, the human element remains crucial in fraud prevention. Human analysts can provide context and judgment that AI may lack, particularly in cases involving complex or unusual ...
The rise of returns fraud and how retailers can mitigate it
WEB16 hours ago · According to a recent report from Loop, nearly two-thirds of Australian retailers (60 per cent) have experienced some type of returns fraud or policy abuse in the past 12 months. Indeed, Loop estimates that for every $100 in returned merchandise, retailers lose $10.40 to returns fraud. Nearly three-quarters (74 per cent) of Australian retailers say their company prioritises customer experience ...
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WEBMobile shopping expected to drive more than half of online sales. RetailBiz Webinar – Bringing Loyalty Programs into the Digital Age – in partnership with Klarna.
Deliver when it matters most: Don’t let delivery be your downfall ...
WEB16 hours ago · The average standard delivery cost rose from $9 in 2018 to $10.26 in 2024, while retailer-advertised delivery estimates increased from 2 days to 5.6 days during the same period. There were similar trends for express, too. Interestingly, actual delivery times are improving, down from 2.6 days in 2023 to 2.2 today.
Why mid-size enterprises must prioritise loyalty to drive long-term ...
WEB16 hours ago · Retailers use these programs to offer personalised rewards, encourage repeat purchases, and build strong relationships with their customers. Mid-size retailers can use loyalty programs to achieve a critical competitive edge by enhancing customer engagement, increasing retention, and driving long …
Large Format Retail market reports record-breaking transaction …
WEB3 days ago · Following a strong 2023 with the sale of Chirnside Lifestyle Centre for over $50 million and Dan Murphy’s Shepparton for $13 million, 2024 has carried on the momentum as Colliers Retail Middle Markets has transacted Shepparton Retail Hub for over $11 million in February and the record-breaking sale of HomeCo Ballarat for $54 million in June.
Resilience in retail: How labour, skills, and technology can shape ...
WEBMar 19, 2024 · Just when the retail industry had turned a corner with the global pandemic and supply chain issues in the rearview mirror, it’s now confronted with a new set of hurdles.
What the Australian retail industry should expect for 2023
WEBWith the COVID-19 pandemic, the past 36 months have been a difficult time for Australia’s retail industry, with businesses having to navigate a plethora of challenges, ranging from rising costs and supply chain disruptions to grave labour shortages.. Further adding to the pressure on retailers are rising customer expectations.
Six crucial retail trends transforming the industry in 2023
WEBFeb 14, 2023 · The discounted prices will also appeal to consumers feeling frugal in uncertain economic times. 3. Economic uncertainty dents consumer confidence. The Australian economic outlook for 2023 is mixed but generally positive. Inflation is expected to slow, unemployment should remain low, and housing prices are expected to fall.
Four ways AI will disrupt retail - retailbiz
WEBDec 4, 2023 · In Australia, AI is set to reshape the customer experience in retail with improved service and personalised recommendations. Supported by data from Servion, it’s projected that by 2025, AI will be a part of 95% of all retail experiences. Our recent report, Online Consumer Behaviour Global Report 2023, found …
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