Growth predicted in US retail sales, UK consumer confidence

Last week, the retail economic indicators were cautiously optimistic, with decent growth predicted for US retail sales in 2024 and bright spots in UK consumer confidence in March.

The industry learned through surveys that store employees want enabling technology and cite it as a reason to be loyal to a company, and that stores are better than online for both preventing returns (this isn’t a surprise but nice to see some data behind it) and for discovery, especially in fashion.

A possibly AI-generated cookbook (and author) gives us a glimpse of just how junky a GenAI future could be. A few retailers had some technology missteps that hampered their ability to sell for a day or two. Some grocery customers are organizing to boycott unless their targeted retailer drops prices by 15%, and self-checkout gets more adjustments in high-theft stores. Let’s dive in to the latest in retail and technology.

itim Group plc (LON:ITIM) is a SaaS-based technology company that enables store-based retailers to optimise their businesses to improve financial performance and effectively compete with online competitors. Itim adds retail value by helping multi-channel retailers optimise their business and their stores to improve financial performance and compete more effectively with the “Amazons”.

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