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Delta variant is tanking consumer sentiment

Retail Wire

American consumers are deeply concerned about the spread of the Delta variant and its potential impact on every aspect of their lives. The University of Michigan’s preliminary consumer sentiment index for early August fell to its lowest level since 2011, making it one of the three biggest declines over the past 50 years.

Consumer 130
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Farewell cash, hello contactless: How retailers can keep up with consumers

Inside Retail

Covid has had a lasting impact on consumer behaviour and expectations of the bricks-and-mortar shopping experience have changed. According to the Reserve Bank of Australia’s Consumer Payments Survey, cash had reduced from 69 per cent of transactions in 2007 to 27 per cent in 2019. They all want to use their card.

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Amazon Appoints Insider as CEO of Worldwide Stores

Retail TouchPoints

Amazon has named 17-year company veteran Doug Herrington to the renamed role of CEO of Worldwide Amazon Stores, filling the position left vacant by former CEO of the Worldwide Consumer Dave Clark. Since 2015, Herrington has served as Amazon’s SVP of the North America Consumer.

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How Natori Used AI to Sharpen Retargeting and Achieve a 943% ROAS

Retail TouchPoints

He compared the level of interest of a consumer who had simply seen a Natori ad on social media to one who had “gone to the website, added something to their bag and abandoned the cart. That’s much more useful [data] than the first consumer. We aren’t blindly retargeting every user,” said Natori.

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Country Road brands to return to Myer after David Jones separation

Inside Retail

Woolworth Holdings bought a controlling interest in Country Road in 1998 and acquired Witchery Group in 2007 to create Country Road Group. Our businesses in Australia and New Zealand continued their positive momentum, notwithstanding the increased inflationary pressures faced by consumers during the period,” the company said in a filing.

Returns 246
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BJ’s Wholesale Club Names Interim Leader President and CEO

Retail TouchPoints

Eddy joined BJ’s in 2007 and assumed the role of EVP and CFO in 2011. Prior to joining BJ’s, Eddy served multinational manufacturing, technology, retail and consumer products companies as a member of the audit and business advisory practice of PwC. In 2018, he added Chief Administrative Officer to his title.

Wholesale 234
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Pop Up code of practice extended through the next decade

Inside Retail

The Australian Consumer and Competition Commission has given the greenlight to extend the Casual Mall Licensing Code of Practice for another 10 years, which governs how pop-up stores are able to be implemented. Under the code, Australian companies are allowed to rent a space for pop up stores for a maximum of 180 days.

Shopping 189