16 August 2023
16 August 2023
The retailer anticipates FY23 sales and comparable sales to decline between 2% and 5% compared to FY22.
New research with senior executives at global luxury retailers shows widespread concerns about losses in the sector.
The newly appointed CEO will direct efforts towards strategic revitalisation and promoting growth, the board says.
The 5,000m² store is claimed to be located in the second-largest retail centre in the country.
The issue has triggered discussions about decision factors and the industry's ongoing efforts to address the disparity.
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Generative AI can enhance engagement through customer service interfaces, protect retailers against fraud and cyberattacks, and improve purchasing journeys through personalized product recommendations and inspiration based on shopping and browsing patterns. When adopting generative AI, retailers must also ensure that consumers are provided with accurate and up to date information to ensure better purchasing decisions. The challenges faced by generative AI in retail and apparel theme are bias, hallucinations, privacy, misinformation, and copyright. Enterprises are concerned about data leakage as well.
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