Mon.Jan 09, 2023

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Boxed Explores Financial Alternatives, Including a Possible Sale

Retail TouchPoints

Boxed , the combination ecommerce retailer and enabler that serves both consumer and business customers, is seeking additional funding — or a possible sale — as it explores strategic alternatives. The company’s Board of Directors has retained both financial and legal advisers as it contemplates Boxed’s next moves, which could include a funding announcement within the next 45 days.

Consumer 311
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L’Oreal launches make-up applicator for people with limited mobility

Inside Retail

Cosmetics giant L’Oreal has unveiled a new handheld, ultra-precise motorised makeup applicator designed for people with limited mobility. The device, dubbed Hapta, was unveiled at CES 2023 in Las Vegas, and incorporates technology originally designed by Verily – a Google-owned life sciences company – to stabilise and level utensils to give people with limited hand and arm mobility to eat independently.

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Reports: Macy’s to Shutter Four Full-Line Stores as it Prepares for Challenging Year

Retail TouchPoints

Macy’s will reportedly close four locations, in Fort Collins, Colo.; Gaitherbeurg, Md.; Kanohe, Hawaii; and Los Angeles in January 2023, according to USA Today and other media outlets. The closures are part of the retailer’s Polaris growth strategy , which aims to stabilize the department store as it pursues a return to growth. The company will offer impacted employees jobs at nearby locations or severance packages.

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A look at Sanity’s final days: What happens when a retailer says goodbye?

Inside Retail

What happens between the time that a business announces its closure, and the doors shutting for the final time? As covered by Inside Retail , iconic music retailer Sanity is shutting all 50 of its physical stores by the end of April this year, in line with the lease expiry for each store. Established by Brett Blundy in 1980, the retailer was purchased by Ray Itaoui 13 years ago.

ATS 245
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From Data to Decisions: Maximizing Retail Potential with AI

Speaker: David Azoulay, Marc Stracuzza, Román Tejada, and guest speaker Sucharita Kodali

Imagine a retail landscape where every interaction is personalized, every decision informed, and every opportunity maximized 🤔✨ Join us for an exploratory journey into the heart of AI-driven retail innovation. We’ll unveil the transformative potential of AI and data analytics in shaping the future of omnichannel personalization and e-commerce.

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Alibaba Founder Jack Ma Cedes Control of Sister Fintech Firm Ant Group

Retail TouchPoints

Chinese billionaire Jack Ma will no longer control Ant Group , the fintech firm he founded, after the company reorganized its shareholding structure in order to “align the voting interests of shareholders with their economic interests,” according to a company statement. Ma is also the founder of Ant Group’s sister company, retail giant Alibaba , although he stepped down from his leadership role at that company in 2019.

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Selfridges celebrates celebrate special moments with 2D makeover

Retail Focus

Selfridges new season launches across all stores with a focus on helping customers celebrate special moments, big or small. In 2023 this is brought to life through the lens of 2D artistry. Unveiling all-new window displays and unexpected visual pleasures in its physical and digital spaces, ‘ Selfridges Celebrates ‘ is Selfridges playful take on how to shop and plan for the moments in life that call for joyful celebration.

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Bluebell launches in Australia with two brands; more to come

Inside Retail

Asia-based omnichannel brand operator Bluebell Group has expanded its reach into Australia, initially with brand partners Gentle Monster and Pinko. The retail group marked its market debut with the opening of Italian fashion label Pinko in Sydney’s Westfield mall in November, followed by the launch of South Korean luxury eyewear brand Gentle Monster’s first store in Australia at Sydney Airport before Christmas. .

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Party City preps for bankruptcy

Retail Wire

Party City has been hurt by a shortage of helium, rising prices and changes in consumer behavior. The company is reportedly in talks to swap equity for shares with debt holders as it moves closer to filing for bankruptcy. Party City currently has about $92 million in cash against $1.8 billion in debt.

Consumer 130
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Brisbane airport to construct furniture and office warehouse

Inside Retail

Brisbane Airport Corporation (BAC) has commenced construction of an office and warehouse space for the Australian franchisor, BSR Group. The company – which services more than 220 retailers under the banners Betta Home Living, Furniture Zone, and RT Edwards – will occupy a consolidated 5600sqm warehouse and office headquarters at the airport’s Da Vinci educational and industrial precinct.

ATS 130
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Rite Aid CEO departs as search begins for successor

Retail Wire

Rite Aid CEO Hayward Doningan is leaving the company after three years on the job. She is being replaced on an interim basis by board member Elizabeth “Busy” Burr, effective immediately.

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The Personalization Playbook: 2024 Strategies

Did you know—74% of IT leaders are looking to improve their tech stack to offer better personalization? It’s impossible to ignore the importance of personalization, but it comes with challenges. How do you do it with a tight budget? What about customer privacy and the use of data? The Personalization Playbook is packed with research and insights from Orium, Talon.One, and Bloomreach and gives IT leaders answers to these tough questions, helping them shape 2024 strategies for personalization.

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9 retail trends to watch in 2023

Retail Dive

With the threat of a recession looming, the new year brings about a slew of challenges for retailers — but not all is gloomy.

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Inflation remains top of mind for consumers and business

Retail Wire

The rate of inflation has slowed since June when consumer prices rose 9.1 percent year-over-year. High prices, however, remain a major concern for consumers and the companies that sell them goods and services. “The rise and fall of inflation is mostly symmetrical. It took 16 months to peak and now we expect it will take a like amount of time to get to a tolerable level,” said Nancy Tengler, CEO and chief investment officer with Laffer Tengler Investments.

Consumer 130
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What the Metaverse means for Retail

365 Retail

The metaverse, a virtual world that exists entirely online, is set to revolutionize the way we live and work in the UK. The term “metaverse” was first coined in Neal Stephenson’s 1992 science fiction novel Snow Crash, and refers to a virtual shared space that multiple users can access at the same time. The concept of the metaverse has been gaining traction in recent years, with companies such as Facebook and Google investing heavily in the development of virtual reality (VR) an

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Lululemon says profit margins likely fell in 4Q

Retail Wire

Lululemon said it expects its report will show that its fourth-quarter profit margin fell between 0.9 percent and 1.1 percent. The yoga-inspired chain said customer traffic increased during the quarter.

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Mapping Digital Transformation: Retail’s Strategic Shift

Speaker: Jennifer Wright, Michael Scholz, Jasmin Guthmann, and Scott Canney

Digital transformation in retail is so much more than new technology. You need to get your whole organization, from entry-level workers to executives, on board with the new tech, new skills, and culture changes that digital transformation brings. Leading this mindset shift can be a daunting task… but that’s where this webinar comes in! Join our panel of experts as they guide you through the challenges of digital transformation, preparing you to avoid common mistakes and make the most of incredib

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Macy’s lowers holiday sales prediction

Retail Dive

The department store managed to maintain its guidance within its previous range, but its warning suggests that it lost market share, analysts say.

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Abercrombie & Fitch reports better-than-expected holiday revenues

Retail Wire

Abercrombie & Fitch had previously anticipated a decline of between two and four percent in sales during the holiday season. The retailer raised its forecast and now expects to report a one to two percent year-over-year gain.

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The 3 keys to inventory optimization in 2023

Retail Dive

With new tools and insights retail planners can reduce carrying costs and say goodbye to excess inventory.

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Hybrid work may be the new normal

Retail Wire

Some employers have been pushing to get workers back to corporate offices full-time even though many employees remain reluctant to fully give up working from home. About five percent of working days were completely remote in 2019 and today that figure stands at around 30 percent, based on census data. “Many companies in recent months have insisted that people come back to the office five days a week, only to reverse that mandate within about a week after hearing that they’d lose their best

ATS 100
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Planning the Architecture of Your Modular DXP

Are you considering moving away from a monolith platform and over to composable architecture? Join experts from Google Cloud, GroupBy, and Orium as they discuss the benefits of moving to a modular digital experience platform. In this masterclass, uncover key indicators that show your brand is ready for a modular DXP, and learn how to lay the foundation for composable commerce.

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Hobbycraft achieves robust Christmas results with total revenue growth of +7.2% versus 2021

A1 Retail

Financial Highlights for Christmas. Strong sales performance with total LFL growth of +5.5%. Strong underlying growth in store sales were supported by the investment in a new website, which has continued to offer an easier shopping experience, showcasing both product and project inspiration, and a more immediate Click & Collect service in stores, with collections available within 1 hour.

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Layoffs add new pool of skilled tech workers to job market

Retail Wire

HR cutbacks by major companies including Amazon.com, Meta, Twitter and Salesforce have added thousand of highly-qualified technology workers to the U.S. job pool. About 37 percent of laid-off workers found a new job within a month and 79 percent gained employment within three months.

Marketing 100
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Macy’s Closing Four More Department Stores

VMS

Macy’s (New York) is set to shutter four more department stores in in the first quarter of 2023 as part of its ongoing Polaris transformation strategy, according to Retail Dive and several other news sources. The affected stores are in these malls: * Baldwin Hills Crenshaw Plaza; Los Angeles. * Foothills Mall, Fort Collins, Colo. * Windward Center, Kaneohe, Hawaii. * Lakeforest Mall, Gaithersburg, Md.

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Hourly wages for restaurant workers to rise

Retail Wire

Increases in minimum wages in more than half of the states in the U.S. will put more money into the pockets of restaurant workers this year. Average hourly wages for restaurant workers have jumped 21 percent to $18.99 since February 2020.

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How Personalized Customer Experiences Drive Retail Growth and Revenue

Speaker: Shaunna Bruton - Associate Director of Product Strategy at Orium | Sam Panzer - Director of Industry Strategy at Talon.One | Frank Passantino - Director of Product Management at Bloomreach

More and more, customers are expecting a better personalized CX. But can retailers actually deliver? Data from McKinsey shows that companies that excel in personalization increase their revenue by 40%, but despite these numbers, retailers struggle to implement customer personalization strategies. So what are the potential solutions? Join us to gain a better understanding of the current retail landscape and learn what you can do to translate personalization strategies into practical implementatio

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Celine recalls "vintage spirit" at Rue Saint-Honoré boutique

Dezeen

Celine creative director Hedi Slimane channelled "French elegance" when designing the latest Celine boutique in central Paris , which features expanses of brass and marble as well as Slimane-designed furniture. Located on Paris' Rue Saint-Honoré, known for its luxury shopping, the store sits within a 19th-century Haussmann building and connects to a Celine Haute Parfumerie store that was opened in 2019 and references old art deco perfumeries.

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Lululemon’s stock drops after margin warning

Retail Dive

The athletics company raised its revenue expectations for the quarter, but it has a lot of inventory to clear through after the holidays.

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What Is Impulse Buying and How Do You Encourage It (2023)

Shopify

Impulse buying accounts for between 40% and 80% of purchases. Are you encouraging impulse purchases in your store? Learn how in this article.

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5 trends that shaped the holidays in 2022

Retail Dive

From deep discounts to metaverse activations, here are some of the biggest influences on the season.

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Retails Next Frontier: Exploring and Proving the Value of AI

AI is everywhere. It’s in customer service interactions, product recommendations, marketing outreach, and yes, even commerce experiences. But not every use of AI provides the same value to your brand. In this masterclass, experts from Constructor, commercetools, Contentstack, and Orium discuss how AI can complement your composable tech stack and help bring in immediate ROI.

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Five Below Plans 200-Plus New Stores in 2023

VMS

Discount retailer Five Below (Philadelphia) said it plans to open more than 200 new stores and renovate 400 more in the coming year. The company disclosed that information in a news release on its sales results for the holiday season, from Oct. 30 of last year through Jan. 7, during which it recorded an 11.2 percent increase over the year-earlier period.

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Automate for Fast, Easy Customer Solutions That Accelerate Digital Initiatives

Mulesoft

Automate for Fast, Easy Customer Solutions That Accelerate Digital Initiatives Ready to unleash innovation together? Learn how you can empower everyone in your organization to automate anything, integrate data, and connect applications with MuleSoft. From IT to business teams, discover the tools and strategies to do more with less and deliver seamless customer experiences – […].

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Independent Retailers Had Strong December

VMS

Sales for independent, mainly urban retailers grew 9.8 percent over the same period a year ago, reports NRSInsights in a summary of sales data and analytics drawn from retail transactions processed through its National Retail Solutions point-of-sale platform. In addition, NRSInsights said full-year sales for such retailers in 2022 were up 8.2 percent from a year earlier.

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Rite Aid CEO exits

Retail Dive

Heyward Donigan, who has led the company since 2019, is out and Elizabeth Burr has been named interim CEO.

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2024’s Retail Odyssey: Going Small, Artificial, and Augmented!

Speaker: Kelly Goetsch - Chief Strategy Officer at Commercetools | Jason Cottrel - CEO & Founder at Orium | and guest speaker Brendan Witcher - VP, Principal Analyst at Forrester

Significant modifications are on the horizon for digital commerce in retail and customer experience come 2024. The pace of tech shifts will intensify, businesses are set to defund legacy solutions, and attractive opportunities will surface as social and retail media players join forces. To stay ahead of the curve, digital leaders are experimenting with less risky initiatives and scaling back on outdated projects that no longer yield impactful results.