April 22, 2024 by Scot Meyer
in-person events, Scot Meyer
2024, Issue 04-22-2024
The COVID-19 pandemic forced sweeping changes in the way business was conducted in America. People worked from home and relied on technology to connect with others, as Zoom calls replaced in-person meetings and even trade shows went virtual. The National Association of Chain Drug Stores, FMI – The Food Industry Association, and the National Retail
March 25, 2024 by Scot Meyer
Conference Board, retail sales, Scot Meyer
2024, Issue 03-25-2024
Some forecasters see partly cloudy skies ahead for the U.S. economy, which could translate into weaker sales gains for retailers in the coming months. The Conference Board recently upgraded its forecast, saying that it no longer expects a recession this year. But the news is not all good. “Various indicators of business activity, labor markets,
February 26, 2024 by Scot Meyer
consumer spending, Deloitte's 2024 Retail Outlook, economy, Inflation, Scot Meyer
2024, 2024, Issue 02-26-2024, Opinion
The economy delivered some bad news but mostly surprisingly good news for retailers last year. Consumer confidence was shaken by high inflation and the interest rate hikes intended to combat it, but consumer spending — and retail sales — remained remarkably robust. And as 2023 was drawing to a close, inflation was showing signs of
January 15, 2024 by Scot Meyer
retail crime, Scot Meyer
2024, Issue 01-15-2024
Retail crime has evolved from being simply a matter of inventory shrinkage and financial loss, a new study suggests. Retailers now need to think about crime as a palpable worker safety issue that can impact their ability to retain employees. That is one of the findings of the forthcoming “Holiday 2023 Future of Retail Workforce
December 18, 2023 by Scot Meyer
consumers, Euromonitor International’s “Top Global Consumer Trends 2024” report, Scot Meyer
2023, Issue 12-18-2023
What do consumers want? There’s no one answer, because there’s more than one consumer, and even if there were one answer it would always be changing. But Euromonitor International’s “Top Global Consumer Trends 2024” report suggests six key attitudes retailers and suppliers should pay attention to if they want to connect with consumers in the
November 27, 2023 by Scot Meyer
chatgpt, opinion, Scot Meyer
Issue 11-27-2023
“AI has the potential to revolutionize the retail industry by introducing innovative solutions that enhance efficiency, customer experiences and overall business operations.” That’s what a well-known AI model, ChatGPT, told me when I asked about positive use cases for AI in the retail sector. It went on to list several areas where AI could help
October 9, 2023 by Scot Meyer
health care, Scot Meyer
Issue 10-09-2023, Opinion
The health care sector in the United States is worth about $4.4 billion — about the size of Japan’s entire economy, which is the third-largest in the world, behind only those of the U.S. and China. That’s another way of saying that the U.S. health care industry is massive, notes XIL Health and Visory Health
September 11, 2023 by Scot Meyer
consumer norms, returns, Scot Meyer
Issue 09-11-2023, Issues
A recent article in The New Yorker gave vivid detail to something retailers are all too aware of — consumer norms about returning the products they buy have gotten seriously crazy. The article starts with an anecdote about a friend of the author who ordered six new dresses for an upcoming wedding, planning to send
August 7, 2023 by Scot Meyer
online retailing, Scot Meyer
2023, Issue 08-07-2023, Issues, Opinion
It is no secret that size matters in mass retailing today, with larger chains enjoying efficiencies of scale and greater clout in their negotiations with suppliers. That translates into lower costs for bigger retailers, and lower prices for their customers. That dynamic is particularly important when it comes to online grocery sales, according to a
July 10, 2023 by Scot Meyer
Scot Meyer, shopping carts
2023, Issue 07-10-2023, Issues
The shopping cart has been around since the late 1930s, and most consumers probably don’t give it a second thought. It’s just a part of the shopping experience — something simple and basic that just works. But it’s worth remembering that the need for shopping carts was not obvious before they arrived on the scene,
June 19, 2023 by Scot Meyer
Scot Meyer, SNAP
2023, Issue 06-19-2023, Issues
Low-income consumers tend to be underappreciated and misunderstood. But a recent study by the customer data science company dunnhumby suggests that grocers should consider paying more attention to their customers who are Supplemental Nutrition Assistance Program (SNAP) recipients. SNAP recipients spend more of their money on food than people with higher incomes, according to dunnhumby,
April 17, 2023 by Scot Meyer
data, Scot Meyer, Shoppers
2023, Issue 04-17-2023, Issues, Opinion
Technology is constantly giving retailers and suppliers new ways to figure out exactly what their customers want, and new ways to deliver those goods and services. Traditionally the main way to determine what shoppers want has been to look at what they buy, and technology has made it easier to do that. The rollout of