Artificial Intelligence

What could a 169-year old federal institution responsible for millions of the country’s most important artifacts, history and information possibly teach the retail industry? Plenty it seems.

Between buyer’s remorse, relaxed return policies and the substantial increase in online purchases (which come with an average return rate of 12%-15%), 3.5 billion items are returned to retailers each year. This adds up to around $260 billion of merchandise.

New York -- It’s almost September, which can only mean one thing: The annual blizzard of holiday sales forecasts is about to begin, and this year eMarketer is one of the first out of the gate.

The firm predicts a shiny and bright holiday season for U.S. retailers, with an assist from falling gas prices and online growth. eMarketer forecasts that U.S. retail sales in the months of November and December 2015 will increase 5.7% year-over-year, reaching $885.7 billion (includes online and physical store sales).

Boston – Start-up retailer LeanBox is offering a novel, high-tech solution to the problem of office workers who are too busy to go out and purchase healthy food for lunch.

Target Corp. is doing a little shopping of its own with a new sourcing solution that gives its buyers an online shopping-like experience.

Retailers are certainly attuned to the importance of mobile technology in today’s store environment. Customers who live mobile-enabled, “constantly connected” lifestyles expect the seamless mobile-physical overlap that exists in other parts of their lives to also be readily available when they enter a store.

However, when designing an in-store mobile experience, retailers typically focus their efforts squarely on the software side of the equation.

Comcast has unveiled a futuristic-looking, tech-savvy store prototype aimed at enhancing the cable giant’s brand reputation and service experience. Focused on the customer, the new Studio Xfinity in Chicago aims to entertain, engage and inform shoppers with hands-on experiences.

Comcast partnered with ESI Design, New York City, on the 9,000-sq.-ft. store, which is also serving as a showcase for the company to debut and test new service initiatives.

Minneapolis – Target Corp. is doing a little shopping of its own with a new sourcing solution that gives its buyers an online shopping-like experience.

The mass merchandise giant is utilizing RangeMe, a solution that lets suppliers upload their products with supporting information such as a pitch video, pricing and photos.