Artificial Intelligence

Cleveland – Sherwin-Williams is launching a colorful omnichannel program designed to ease the process of selecting paint colors. Called ColorSnap, it integrates online and offline tools and includes a new in-store display.

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.

Bentonville, Ark. -- How important is Walmart to Tyco Retail Solutions Inc.? Important enough that Tyco has built a state-of-the-art facility dedicated to the giant retailer.

Located in Bentonville, Arkansas, the Walmart Retail Experience Center features a simulated retail environment and showroom where the retailer’s executives from around the globe will have access to resources and capabilities aligned to Walmart’s growing global footprint. It is Tyco’s first center built exclusively for one client.

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.

“Couldn’t find it” and “couldn’t find help,” are all-too-common shopping experiences that kill sales and erode shopper loyalty.  Retailers are seeking better ways to combat these in-store ills, and new indoor positioning and wayfinding solutions have emerged as powerful tools to engage and assist in-store customers, at the precise point-of-purchase decision — the aisle and shelf.

Louisville, Ky. -- Appriss Inc., a provider of data, risk assessment and analytic solutions for government, health information and consumer industries, has acquired The Retail Equation, Irvine, California, a provider of predictive analytics for retail businesses. The Retail Equation will become the retail division of Appriss and will operate as a separate company within the Appriss corporate structure.

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).