Retail TouchPoints

OCTOBER 23, 2020

plans to shrink its store footprint by 350 locations as the retailer works to return to profitable growth in 2021, according to CNBC. Longer-term, the company plans to reconfigure its operations so that 80% of revenue comes from ecommerce and off-mall locations by January 2024. for Q2 2020, which ended Aug.

Returns 174

Returns Apparel Planning Accounting 174

Mass Relators

NOVEMBER 7, 2023

SOLON, OHIO – As ECRM celebrates its 30th Anniversary next year, it will be returning to its roots hosting a full roster of in-person Sessions across categories within food and beverage, health and beauty care, general merchandise and pharmacy/medical markets.

Returns 52

Returns Grocer Beauty and Health Accounting 52

Inside Retail

JUNE 9, 2021

Fast-growing Australian online retailer Canningvale plans to relaunch the iconic Singaporean department store Robinsons as an online-only business this month after acquiring the company’s digital assets for an undisclosed sum. Returning to its roots. Despite achieving sales of S$257.3 That is one of the reasons we see an opportunity.”.

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Planning Department Stores Fast Fashion Fulfillment 147

Retail TouchPoints

JANUARY 26, 2021

In 2020, more than any year since the advent of online and mobile commerce, consumers lost a sense of control. BOPIS (buy online, pick up in-store) took off in 2020, led by curbside pick-up (BOPAC) increasing 208% by the beginning of May. on average.

Consumer 309

Consumer Drop-Shipping Shipping Returns 309

Mass Relators

APRIL 23, 2024

In April of 2020, when the pandemic shut down the industry, ECRM shifted to virtual meetings — initially using Zoom, then in June 2020 launching its proprietary platform, ECRM Connect, and its Sessions remained virtual through the middle of last year. Innovation pipeline. These are 10-minute meetings held in a ballroom. “The

Returns 52

Returns Shipping Location Supermarket 52

Retail TouchPoints

NOVEMBER 9, 2021

Additionally, Liquidity Services , which operates a B2B ecommerce marketplace for surplus business and government goods, has launched a new consumer-facing omnichannel marketplace called AllSurplus Deals for returned and overstock goods.

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Returns Sporting Goods Accessories Consumer 266

Retail TouchPoints

SEPTEMBER 17, 2022

The Consumer Financial Protection Bureau (CFPB) is planning to start regulating buy now, pay later (BNPL) products. Apparel and beauty companies accounted for 80.1% in 2020; A total of 13.7% of individual loans in 2021 saw at least some portion of the order returned, up from 12.2% in 2020; A total of 13.7%

Consumer 201

Consumer Payment Services Apparel Accounting 201

Retail Gazette

APRIL 15, 2024

Pre-pandemic in 2020, the retailer’s turnover was around £220m, which fell to £100m during the height of lockdowns. The Telegraph reports that as a result, founder Nicholas Wheeler and his wife Chrissie Rucker, enjoyed a windfall of more than £21m last year as a return to offices revived demand for tailoring. Of that, £11.7m

Returns 52

Returns Accounting Planning Shopping 52

Inside Retail

APRIL 22, 2021

billion online in 2020, and many sellers experienced substantial growth in key categories, such as home goods, health and beauty. In the US, for example, eMarketer reports that D2C sales now account for 33% of Nike’s revenue. . According to one recent survey from ShipStation, 66% of consumers prefer contactless returns.

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Fulfillment Beauty and Health Advertising Accounting 299

Retail TouchPoints

NOVEMBER 11, 2022

Additionally, Amazon has shut many of its physical stores aside from grocery, including bookshops and specialty stores, even though the retailer had a growth plan to nearly double its store footprint, according to people familiar with the plans.

Specialty Store 168

Specialty Store Planning Accounting Returns 168

Inside Retail

AUGUST 10, 2022

In 2020, KitKat launched “ Live from the Kitkat Chocolatory ”, an Australian-first Facebook-live shopping experience. Customers had to Facebook message a hashtag to the Kit Kat account. In return, they were sent product suggestions, which linked them to the website for purchase.”.

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Shopping Accounting Returns Planning 130

Retail TouchPoints

MAY 29, 2020

Q1 2020 financial results for Costco , Nordstrom and Abercrombie & Fitch encapsulate how three retail verticals — club, department and specialty apparel — are weathering the COVID-19 pandemic. Costco reported a successful quarter, while Nordstrom and Abercrombie discussed plans to handle the fallout. Costco posted a 7.3%

Department Stores 151

Department Stores Operating Expenses Store Operations Apparel 151

Inside Retail

APRIL 22, 2024

According to a recent Euromonitor report, while consumer food-service value nears pre-pandemic levels in 2024, dining-in at restaurants will not return to pre-pandemic level until 2028 in Asia Pacific. By 2028, delivery is expected to account for 23 per cent of Asia Pacific food-service sales, compared to 21 per cent in 2023.

Kiosk 147

Kiosk Fulfillment Consumer Accounting 147

Retail TouchPoints

FEBRUARY 4, 2021

Amazon is seeing returns on its sustainability investments, particularly for its electric delivery van pilot and machine learning (ML)-powered reductions in packaging weight. Last year, Amazon delivered more than 20 million packages using electric vehicles, and the retailer plans to continue building on this momentum in 2021.

Shipping 174

Shipping Accounting Returns Planning 174

Retail TouchPoints

AUGUST 30, 2021

Retail rode strong into Q2 2021 as shoppers returned to stores even as digital sales remained elevated. in Q2 2021 while its digital comparable sales grew 10% , building on the 195% growth achieved in 2020. comparable sales growth during the quarter thanks to shoppers returning to the outdoors — well above the 0.2%

Consumer 300

Consumer Fulfillment Department Stores Sporting Goods 300

Retail TouchPoints

JULY 12, 2022

Amazon has unveiled a new and improved version of its smart shopping cart — called the Dash Cart — and plans to roll out the carts at select Whole Foods Market stores for the first time. First deployed in 2020 , Dash Carts are already available at many Amazon Fresh stores across the U.S.

Payment Services 232

Payment Services Shopping Marketing Accounting 232

Retail TouchPoints

FEBRUARY 22, 2021

The mass store closures prompted by COVID-19 in spring 2020 could have spelled disaster for equestrian specialty brand Kerrits , which had operated as a wholesale-only business for over 25 years. Once the pandemic hit, our wholesalers had to close their stores, and we had to rethink our entire email plan,” said Florin.

Wholesale 216

Wholesale Accounting Marketing Outdoor 216

Small Biz Trends

JULY 6, 2022

The federal grand jury returned the indictment for the federal charges of wire fraud, money laundering and aggravated identity theft. Unsealed Indictment Returned. The six-count indictment stated that between March 2020 and October 2021, Hayes submitted several fraudulent Economic Injury Disaster Relief loan application (EIDL loan).

Accounting 98

Accounting Returns Planning ATS 98

Retail TouchPoints

NOVEMBER 3, 2021

The beauty brand is adding three new executives to its team: a CFO, an SVP of Retail and the new position of Chief Commercial Officer, who will help the team develop its plans for the future. Sodipo most recently led Product Finance and Strategy at Stripe and will bring her expertise in payments to Glossier’s Accounting and Finance teams.

Finance 236

Finance Payment Services Accounting Returns 236

Inside Retail

JANUARY 7, 2024

Between June 2020 and June 2021, Peloton – an at-home cycling brand – gained an additional 1.24 million fitness subscribers, accounting for almost half of the brand’s connected fitness subscriber base. Will Peloton’s plans to rebrand itself pan out? per cent in pre-market trading, indicating a positive reception to the news.

Apparel 130

Apparel Consumer Marketing Planning 130

Inside Retail

OCTOBER 5, 2021

More than 83,000 women from over 100 countries have downloaded the app, with the US, Australia, and the UK accounting for 70 per cent of users. There are also plans for a styling takeover of Birkenhead Point in Drummoyne, NSW, which have been delayed due to Covid restrictions.

Fashion 246

Fashion Social Commerce Telecommunications Returns 246

Retail TouchPoints

AUGUST 24, 2021

This focus helped the retailer successfully navigate through its pivot to ecommerce, its return to omnichannel and its preparation for the future. We saw more than double the app downloads in 2020 , which reinforces the shift to online shopping.”. Hiring is just one part of Ulta’s commitment to diversity.

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Returns Shopping Accounting Location 274

Inside Retail

NOVEMBER 25, 2021

We asked the brand how it arrived at the decision, what it has learned from its previous efforts to leave Facebook and Instagram, and how it plans to stay connected with customers going forward. Our current plan is to come off the platforms that have chosen to ignore their own evidence, but we will return if they make their spaces safe.

Advertising 130

Advertising Accounting Beauty and Health Planning 130

Retail Focus

JANUARY 24, 2023

The Bank of England has predicted that the United Kingdom is falling into a prolonged recession, with inflation not expected to return to its target level of 2% until 2024. Online retail sales saw considerable increases in 2020 and 2021, although volumes fell in 2022 and are expected to fall further this year.

Supermarket 130

Supermarket Accounting Marketing Returns 130

Inside Retail

SEPTEMBER 1, 2021

Founded in July 2020 and launched in February 2021, Refundid is a fintech tool designed to cut, or essentially eliminate, waiting times for refunds for products bought online. According to co-founder and chief product officer Joel Aaron, refunded cash can be in the customer’s account within as little as 30 seconds.

Merchant Services 130

Merchant Services Payment Services Returns Planning 130

Retail TouchPoints

APRIL 14, 2021

wants to hold the current Board accountable for what it calls “years of chronic underperformance” by nominating its own new members. The ratio of the annual total compensation of the CEO to the median employee increased to 1,441:1 in 2020, implying a 143% increase from 593:1 just two years ago.

Accessories 183

Accessories Accounting Returns Management 183

Retail TouchPoints

OCTOBER 20, 2021

It would be easy to assume the retail industry coming out of 2020 was in dire straits. On the other hand, some businesses, such as home improvement stores, actually saw sales increase throughout the pandemic and began course-correcting their retail footprints to account for more online traffic.

Sporting Goods 244

Sporting Goods Accounting Promotions Consumer 244

Retail TouchPoints

OCTOBER 21, 2021

But seller uptake was slow — at the end of 2020, Google Shopping had approximately 8,000 sellers, according to Marketplace Pulse. In July 2020 Google eliminated commissions and fees , making it free for merchants to not only list their products on Google but also to highlight deals and discounts. digital ad revenue (up from 7.8%

Merchant Services 287

Merchant Services Advertising Shopping Drop-Shipping 287

Retail TouchPoints

JULY 26, 2022

While shopping sprees leading up to Black Friday happened before 2020, more shoppers bought in early November over the last two years due to inventory and supply chain issues. plan to start buying gifts earlier – the No. Consumers expect brands to be honest about their carbon footprint, so be prepared to account for your emissions.

Drop-Shipping 265

Drop-Shipping Fulfillment Consumer Shipping 265

Retail TouchPoints

MARCH 29, 2021

Rollup firms are typically able to buy these Amazon businesses at anywhere from 4X to 6X EBITDA, sometimes less, according to Thomson: “As long as you manage to keep the same efficiency that any one of those accounts had when they were a standalone, you can get a 15X to 25X valuation on your company. There is massive financial arbitrage here.

Fulfillment 337

Fulfillment Accounting Planning Consumer 337

Retalon

SEPTEMBER 11, 2020

In order to understand how to take full advantage of this new technology, we will first explain what demand forecasting actually is, the most common methods of demand forecasting in retail, key constraints that need to be accounted for, and modern examples of accurate demand forecasting. Demand Forecast vs. Demand Plan.

Payment Services 41

Payment Services Promotions Accounting Fulfillment 41

Retail Gazette

OCTOBER 5, 2023

On top of that, she has faced fierce criticism around her turnaround plan, which includes a focus on non-retail activities such as house building. Mark Price With John Lewis in peril, could we see Lord Mark Price return to the Partnership? His deep grocery experience could be vital in getting Waitrose back on form. Sound familiar?

Supermarket 110

Supermarket Department Stores Grocer Returns 110

Inside Retail

FEBRUARY 19, 2023

After paying $705 million for the British hardware chain, Wesfarmers replaced almost the entire board, fired more than 140 head office staff and removed a significant percentage of products as part of its plan to convert Homebase stores into Bunnings.

Management 246

Management Finance Planning Accounting 246

Mass Relators

MARCH 28, 2022

WASHINGTON – Eighty percent of Americans plan to celebrate Easter this year and will collectively spend $20.8 Consumers are eager to return to their pre-pandemic holiday traditions, particularly as it relates to purchasing food and gifts for in-person celebrations this Easter,” NRF President and CEO Matthew Shay said. on clothing.

Consumer 52

Consumer Discount Store Department Stores Planning 52

Retalon

OCTOBER 8, 2020

But getting the biggest return on that investment, especially in today’s tough retail environment, requires a more nuanced, data-driven approach to inventory management than most retailers are used to. Employ the Pareto distribution in merchandise assortment planning. There’s more to it. Reducing your inventory costs will improve KPIs.

Markdowns 41

Markdowns Inventory Management Promotions Planning 41

Inside Retail

NOVEMBER 28, 2022

Following in the footsteps of Instagram, which launched its shop in 2020, TikTok has entered the competitive space with its new shop function, enabling merchants, brands and creators to showcase and sell products directly to over 1 billion users through in-feed videos, LIVEs, and the ‘product showcase’ tab. More sales means more returns .

Social Commerce 130

Social Commerce Merchant Services Payment Services Fulfillment 130

Retail TouchPoints

NOVEMBER 30, 2020

The 2020 ecommerce holiday shopping and shipping season is expected to eclipse years past. Brick-and-mortar sales — which will account for 81.2% Retailers will have to have a definitive plan to communicate order confirmations, delivery updates and delay notifications. of total U.S. holiday retail — are expected to decline 4.7%

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Drop-Shipping Shipping Consumer Planning 152