While businesses don’t often use the term “big data” anymore, the concept has not disappeared. The analysis of large amounts of data to mine a variety of insights and actions still provides the strongest guideposts when building a strategic direction.
There was a brief moment in the pandemic, while stores were shuttered and online commerce was soaring, when retailers started to wonder what kind of role the physical store still had to play. Three years on, we can say definitively that stores remain key to the retail industry’s future.
There is an age-old adage that suggests that “he who hesitates is lost.” For as long as I can remember, this simply did not seem applicable to the retail industry.
The rise of Artificial Intelligence (AI) has ushered in a new era for e-commerce, redefining how we search for products, reshaping the foundational building blocks of success in e-commerce and transforming retailer experiences.
the joint media plan and the joint business plan (JBP). These plans
In today’s fast-paced and evolving marketplace, pharmacies and drug stores have become an integral part of consumers’ lives. More than a place to fill prescriptions, these stores are trusted hubs for convenience and wellness today more than ever, post-pandemic.
That Agile Innovation Series focuses on why organizations must constantly evolve and innovate with an agile mindset to remain viable in today’s dynamic world.
Applied Biological Laboratories, a New York-based biotechnology company, launched Biovanta in 2020. Biovanta is said to be proven superior to other leading products at controlling upper respiratory inflammation.
Consumer preferences evolve every single day. But the drug store experience hasn’t kept up. Picking up a prescription is the same as it was a decade ago. But why? Is the retail pharmacy stuck? Consider this: More than 50% of the companies on the Fortune 500 list 20 years ago no longer exist.
One of the hottest trends in retail and advertising is the emergence of retail media networks.
In today’s landscape, retail pharmacies only account for 2% of the $100 billion dollar ad spend from brand- and vendor-funded retail media, according to WPP media company GroupM.
As pharmacy retailers continue to find their footing in a post-COVID world, it’s important that they look at the changing trends in health care and what consumers expect in their care.
There was a time when likely the only electronic or digital display of any kind that could be found in a pharmacy or drug store was the sign indicating the name of the business above the entrance. Today, things are very different.
WSL Strategic Retail has long advised that to see the future of retail, you have to follow the shopper. And today, many of those shoppers are following someone in very small shoes.
Retail shrinkage is a challenging topic for me to write about, not just because anytime I see or hear the word shrinkage, I can’t help but think about the Seinfeld episode focused on poor George, a cold swimming pool and an ill-timed “exposure” to a fellow house guest.
As Cosmoprof North America celebrated its 20th anniversary, the B2B beauty trade show offered a glimpse into the future. The forecast for beauty is bright as evidenced by the 20% gain in attendance of retailers, distributors, investors and media representing more than 1,100 exhibiting brands.
