The Future of Retail & Technology: How Many Happy Returns? Part 2

Technology Revolution: The Future of Now

Bonnie D Graham

Business News, Technology, News

4.9 • 108 Ratings

🗓️ 2 November 2022

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

I LIKE IT. NO I HATE IT. IT FITS, NO IT DOESN'T FIT. I'M RETURNING IT! The Buzz 1: Retailers expect 17.8% or $158Bn of merchandise sold during the 2022 holiday season will be returned, according to the National Retail Federation. Returns have become a major headache in ecommerce, cutting into profit and straining resources. [www.digitalcommerce360.com] The Buzz 2: 37% of American households' financial situation is worse than last year. But consumers will cut non-essentials to give gifts and socialize. They plan to pull back on the number of gifts purchased, visit fewer instore and online retailers, shrink the shopping window to 5.8 weeks vs. 6.4 weeks in 2021, and start shopping in October. [www2.deloitte.com] The Buzz 3: Customers during the 2022 holiday shopping season are looking for brands that can provide personalized, convenient solutions…and having an experience around the product versus just purchasing the product. [www.forbes.com] We'll ask Matt Laukaitis, Navjit Bhasin, Praful Karanth and Victoria Wieck for their take on The Future of Retail and Technology: How Many Happy Returns? – Part 2.

Transcript

Click on a timestamp to play from that location

0:00.0	Where does yesterday's future, which is already here, really here, really here, meet today's future, which is about to happen, and tomorrow's future, which could be just minutes away?
0:15.8	Welcome to Technology Revolution, the future of now.
0:27.0	Where host Bonnie D. Graham asks savvy futurists for their predictions about the tech-driven trends that are shaping our future right now. Here's your host who will take us into the future
0:33.2	of now. Bonnie D. Graham. Bonnie D. in the house, I think I got the direction right into the future.
0:39.4	We're going to my right. There we go. Happy to be here. We have three experts on a very interesting
0:44.5	topic. It is now November what? November 2nd, 2022. How do we get here? The year is
0:50.7	literally zooming by. It just seems to be flying for those of us who made it
0:55.5	through the past couple of years of just horrible things going on around the world.
0:59.5	Still a lot of horrible, but health-wise, I think we're in the recovery stage. I hope, I hope, I
1:04.5	hope. We're coming up to the holiday season, and come on, you're going to buy gifts for
1:10.0	somebody, maybe for yourself yourself but my goodness gracious
1:14.1	I like it I don't like it I hate it I love it it fits it doesn't fit he likes it she likes it
1:20.1	they don't they want to give it back to I have a gift receipt oh my goodness we're revisiting a topic
1:24.9	we started several months ago.
1:29.4	Retail and technology.
1:31.4	How many happy returns.
1:33.1	What does this all mean to retailers?
1:35.1	Let me give you a couple of buzz quotes.
1:38.7	I have a quote here from Digital Commerce 360.com.
1:39.9	Go find it if you want more.
1:45.9	Retailers expect 17.8% or, let me put this in dollars, you'll all understand,
1:53.4	$158 billion of merchandise sold during this 2022 holiday season will be returned.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Bonnie D Graham, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Bonnie D Graham and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.