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NRF Retracts Claim that Organized Retail Crime Accounted for ‘Nearly Half’ of Retail Shrink

Retail TouchPoints

Retailers and law enforcement agencies continue to experience daily incidents of theft, partner in large-scale investigations and report recoveries of stolen retail goods into the millions of dollars.”

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Hibbett and Nike Connect Loyalty Programs 

Retail TouchPoints

After linking its loyalty program with Dick’s Sporting Goods in 2021, Nike is now partnering with Hibbett on a similar “ connected partnership.” Members can now link their Nike membership and Hibbett Rewards accounts on the Hibbett website.

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Starbucks and Bank of America Link Loyalty Programs to Provide Extra Perks

Retail TouchPoints

can link eligible accounts to earn 2% cash back from Bank of America (on top of the rewards and benefits they already earn on qualifying purchases) and one Star for every $2 spent at Starbucks. Customers can either link their accounts through the Bank of America or Starbucks site to start collecting rewards.

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Citing Theft and Safety Issues, Target Closes 9 Stores in 4 States

Retail TouchPoints

Target and other retailers , including Dick’s Sporting Goods and Lowe’s , have been blaming theft and other forms of shrink as one reason for lackluster financial performance this year. Theft, both internal and external, accounts for 65% of shrink, although it can reach as high as 70% in certain verticals. billion in 2021.

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Nike to Double Down on DTC Following Q3 Gains, Plans Standalone Jordan Stores

Retail TouchPoints

The company pulled its products off Amazon in 2019 and has shed 50% of its wholesale accounts over the last four years, including its relationships with DSW , Zappos , Dillard’s and Big 5 Sporting Goods. To participate, members had to link their Nike and EA accounts, which was an integration first for Nike.

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Adidas Shifts to DTC-First Model, Plans to Double Ecommerce Sales by 2025

Retail TouchPoints

Nonetheless, Adidas is optimistic, citing the recovery seen in Q4 2020, its strong market position and attractive growth prospects for the sporting goods industry as a whole. The move is in line with similar shifts made by competitor Nike, which is ditching wholesale accounts and beefing up its digital and DTC business as well.

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4 Strategies from the Most Visible Retail Brands

Retail TouchPoints

And yet, overall reputation scores tend to be relatively low for retailers: SOCi assigned an overall reputation score to retailers of 43 points out of a possible 100, taking into account average ratings, review counts, pace of new reviews and rate of responses.