Fri.Nov 19, 2021

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$400 Million Funding Round Pushes Wholesale Marketplace Faire’s Value to $12.4B

Retail TouchPoints

Online B2B wholesale marketplace Faire has closed a $400 million Series G funding round, its third in the last year. With this latest round, which pushes the company’s total funding to date above $1 billion , Faire is now valued at $12.4 billion. This round comes just five months after the close of Faire’s Series F and the company’s expansion into 15 markets across the UK and Europe — a region that has grown by more than 10X for the company since its initial launch there in March 2021.

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Americans are cozying up with catalogs

Retail Wire

Many Millennials prefer to leaf through a printed catalog than being overwhelmed with choices online. “I feel like I’m always on my phone or the computer, so it’s kind of soothing sitting down with a cup of coffee and a tactile catalog and just flipping through it,” said Kristi Krass, a mother of three from Michigan.

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H&M NYC Flagship Spotlights ‘Buy From a Black Woman’ With Holiday Events

Retail TouchPoints

Fashion retailer H&M is providing a high-profile platform to Black women-owned businesses with the Buy from a Black Woman Holiday Market at its Times Square flagship. Kicking off on Small Business Saturday, Nov. 27, 2021, the event will feature 26 businesses owned by Black women from across the country, featuring products ranging from skin care to stationery, home accessories and more.

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Apparel retailers pass higher costs along to consumers

Retail Wire

Retailers including Kohl’s and Macy’s have seen their stock prices rise as they have held the line on discounting to keep margins high. “We’ve clearly been through these inflationary cycles before, and so we have a lot of experience with it,” said Macy’s CEO Jeff Gennette. “And with fashion, sometimes you can pass that on, and you can get a higher ticket and a higher sale price.”.

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Get MACH Ready: Preparing Your Business for Digital Transformation

Adopting MACH technology means more than implementing new platforms. This type of digital change affects your organization at every level and requires a thoughtful approach to navigate challenges that crop up. The Get MACH Ready report, co-authored by MACH Alliance member Scott Canney in collaboration with Orium, commercetools, and Contentstack, will provide you with strategies to prepare your organization for a digital transformation.

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Secure Code Warriors – Final Battle Winners

Cisco Retail

We have arrived at the third and final blog post around Secure Code Warrior. In the first two blogs… So, You Can Code… But Can You Write Secure Code? Finding Cisco DevNet Elite Secure Code Warriors. … we introduced you to the Secure Code Warrior tournament held during Cisco DevNet Create 2021. In this final blog post, I wanted to report back about the final battle between the crème-de-la-crème – the DevNet Secure Code Warrior Top 25.

ATS 140
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Retailers pack containers to meet demand and keep costs down

Retail Wire

Retailers are prioritizing goods that will maximize shipping containers and fill up shelf space when they order goods from overseas markets. “When you go from $2,000 per container to $20,000, the math just doesn’t work anymore for big, bulky things,” said Magi Raible, owner of LiteGear Bags in California. “I’ve had to leave behind some popular items because it’s just too expensive to ship right now.”.

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How a Global Pandemic Changed the Way We Work, Forever

Cisco Retail

Part of the Hybrid Work Success series: Rethinking a hierarchy of needs in the context of work — how a global pandemic changed the way we work, forever. In a moment of reflection amidst all the pandemic induced change, I find myself asking how we move away from the adrenaline induced reactive motions to more strategic and enlightened thinking. Perhaps the most radical of changes is the profound shift in work.

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In Pursuit of Smart City Vision, Startup Two-i Keeps an AI on Worker Safety

Nvidia

When Julien Trombini and Guillaume Cazenave founded video-analytics startup Two-i four years ago, they had an ambitious goal: improving the quality of urban life by one day being able to monitor a city’s roads, garbage collection and other public services. Along the way, the pair found a wholly different niche. Today, the company’s technology — which combines computer vision, data science and deep learning — is helping to prevent deadly accidents in the oil and gas industry, one of the world’s m

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Alibaba cuts annual sales forecast

Retail Wire

Alibaba Group Holding Ltd said it now expects revenue for the year to rise between 20 and 23 percent, down from its earlier guidance 29.5 percent. The company pointed to supply disruptions and a more cautious Chinese consumer in the face of COVID-19 as factors for its change.

Consumer 100
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Macy's hires the firm behind Saks' e-commerce spinoff

Retail Dive

With activist investors reportedly pushing the department store, Macy's CEO Jeff Gennette acknowledged how Wall Street values online-only retail.

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How Retailers Are Transforming Customer Experiences with Data & 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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Starbucks hands out free reusable holiday mugs

Retail Wire

Customers who ordered holiday beverages at Starbucks yesterday were served the drinks in a free “limited-edition reusable red cup.” The chain’s holiday cups have become an annual tradition.

ATS 100
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The Weekly Closeout: Amazon clashes with Visa and Petco posts 'record' Q3

Retail Dive

The e-commerce giant said it will no longer accept United Kingdom-issued Visa credit cards for transactions, while the pet retailer reported double-digit growth in owned brands.

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States investigate Instagram’s impact on children

Retail Wire

The attorney generals of eight states — California, Florida, Kentucky, Massachusetts, Nebraska, New Jersey, Tennessee and Vermont — are joining together to investigate Instagram and whether it harms children. “When social media platforms treat our children as mere commodities to manipulate for longer screen time engagement and data extraction, it becomes imperative for state attorneys general to engage our investigative authority under our consumer protection laws,” said Nebraska AG Doug Peterso

Consumer 100
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Norm Architects fashions industrial yet warm interiors for Notabene flagship in Copenhagen

Dezeen

A harmonious mix of concrete, oakwood and aluminium features in this Copenhagen shoe store , which has been designed by Danish studio Norm Architects. When it came to devising a fit-out for the Notabene store in Copenhagen's Old Town, Norm Architects worked on fostering "contrast and beauty" between the site's existing industrial features and the warm, tactile material palette that the studio felt was representative of the footwear brand.

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Forrester Report: Demystifying The Technical Functions of POS Solutions

Understanding the intricate world of Point-of-Sale (POS) technology is a common challenge for tech buyers. When it comes to defining the functions of Point-of-Sale systems, the communications have yet to be standardized–—until now. Forrester’s new report, Demystifying The Technical Functions of POS Solutions, breaks through the noise and provides business leaders with the information and tools they need to evaluate the features of POS systems.

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Grocery store shelves are cleared in British Columbia following floods

Retail Wire

Canadian consumers located in British Columbia engaged in panic buying as floods and landslides disrupted life in the province. “This is what we’re going to deal with: The impact of centralizing everything and just-in-time delivery,” said executive director of the Central Kootenay Food Policy council Abra Brynne. “We have to recognize that building in structures that create that level of vulnerability … is crazy.

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An Elevated Experience: Xpeng G9 Takes EV Innovation Higher with NVIDIA DRIVE Orin

Nvidia

You don’t need a private plane to be at the forefront of personal travel. Electric automaker Xpeng took the wraps off the G9 SUV this week at the international Auto Guangzhou show in China. The intelligent, software-defined vehicle is built on the high-performance compute of NVIDIA DRIVE Orin and delivers AI capabilities that are continuously upgraded with each over-the-air update.

Marketing 100
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Nordstrom broadens its reach with Fanatics deal

Retail Wire

Nordstrom.com’s customers can now shop for licensed sports team merchandise as part of a deal between the retailer and Fanatics, which will fulfill all orders.

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Phase II of Development Underway on $450 Million Mixed-Use Project in Midtown Atlanta

Shopping Center

Atlanta — Phase II of development is currently under way on The Interlock, a $450 million mixed-use project located in the Midtown neighborhood of Atlanta. Developed by SJC Ventures, the new phase will include a 42,500-square-foot Publix grocery store, 186,000… The post Phase II of Development Underway on $450 Million Mixed-Use Project in Midtown Atlanta appeared first on Shopping Center Business.

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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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ICSC: 86% of consumers will shop over Thanksgiving weekend

Retail Dive

Shoppers are nearly evenly split in their decision to shop in stores versus online on Thanksgiving Day.

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Managed Services Is Our Market to Win, Together

Cisco Retail

I recently had to shop for a new dishwasher for the first time in six years. Wow, how the experience has changed. The selling dynamic has shifted from lengthy discussions about models and capabilities to a tailored conversation about my needs in use and care. At the end of the day, I purchased a plan (with ongoing services) so that my family and I can focus on using the dishwasher in the ways that support our needs.

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Foot Locker names COO as sales grow 13% over 2019

Retail Dive

Frank Bracken will take on the newly created role, overseeing global operations, including customer experience, technology and supply chain.

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Xero and Shopify join forces to support small businesses globally

A1 Retail

Xero joins Shopify Plus Certified App Program and launches new Xero & Shopify integration. Xero , a global small business platform, has announced a new integration with Shopify and revealed it has joined the Shopify Plus Certified App Program (PCAP), a select group of partners that supports the advanced needs of Shopify’s global merchants. These are important steps towards solving common customer pain points and demonstrate a commitment to help ecommerce sellers to get started, grow, and inc

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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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Kohl's enjoys some upside from inventory scarcity

Retail Dive

Margins spiked and inventory turn reached a 10-year high as product levels came in 25% below 2019 amid shipping delays.

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Retail unhappy as efforts to make attacking shopworkers a specific offence are rebuffed

Talking Retail

Retailer organisations have united in disappointment at the government’s continued unwillingness to introduce specific legal protection for shopworkers who are assaulted. Although some peers in the House of Lords yesterday spoke in favour of the measures, two proposed amendments to the Police, Crime, Sentencing and Courts Bill were withdrawn. The government argues that a wide.

ATS 69
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Starbucks, Amazon Go open cashierless store concept in NYC

Retail Dive

The two plan to open additional stores in 2022, as more retailers experiment with grab-and-go technology.

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Food sales fall back as other retail rises

Talking Retail

Food store sales fell in October, according to figures from the Office for National Statistics (ONS), although overall retail sales rose. A sharp difference between retail sectors saw an overall 0.8% rise in retail sales driven by more spending on toys and clothes, while food sales were down by 0.3%. Analysts said the increase in. This story continues at Food sales fall back as other retail rises.

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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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Guest Post: How to Level-Up Your Email & SMS CX This Holiday Season

Hyken

This week we feature an article by Devin Pickell, a Growth Marketer at Nextiva. He shares his quick tips for keeping your customers informed through email and SMS to level up their buying experience. . The holiday season is fast approaching, and you’re an online merchant expecting a large volume of orders to come through soon. That’s great news! But while you’re fulfilling orders, it’s imperative that you keep your customers in the loop on channels like email and SMS.

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Nordstrom employs drop-ship model in new Fanatics partnership

Retail Dive

Nordstrom says the deal reflects a departure from wholesale. But one analyst says it's more of an evolution, and a sign that department stores still matter.

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Dyson Demo VR: powerful lab technology drives new virtual store

Retail Times

Dyson today unveiled the latest chapter in its fast-expanding direct to consumer retail approach, introducing advanced virtual reality technology to enable its customers to experience and test Dyson technology hands-on from their own homes using a VR headset.

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Piecemeal plastic bans are not enough, say campaigners

Talking Retail

The government’s consultation on banning plastic cutlery, cups and plates is an “inadequate” response to the waste crisis, says Friends of the Earth. The green campaign group argues that while the proposed ban is useful, only a broad scale and firmer ban on plastics will have a serious effect. Camilla Zerr, a plastics campaigner with. This story continues at Piecemeal plastic bans are not enough, say campaigners.

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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.