Thu.Mar 30, 2023

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NRF Projects a 4% to 6% Sales Increase in 2023 as Consumers Recalibrate Shopping Patterns

Retail TouchPoints

The National Retail Federation (NRF) expects retail sales to grow from 4% to 6% in 2023, reaching between $5.13 trillion and $5.23 trillion for the year, according to data released at the State of Retail & the Consumer virtual event. This puts annual growth projections significantly above the pre-pandemic average of 3.6% , but below the 7% growth rate of 2022.

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Why Uniqlo and Burberry are increasing wages amid cost of living pressures

Inside Retail

There’s been much discussion about the wage-price spiral theory, which theoretically sees wages rise concurrently with prices, subsequently exacerbating inflationary pressures. In early March, the Reserve Bank of Australia increased the interest rate for a tenth consecutive period, to 3.6 per cent in order to control this cycle and curb inflation. However, according to recent data by the Australian Bureau of Statistics in late February, the gap between wages and prices was at 4.5 per cent, the l

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Foot Locker to Boost Digital Investments 50% as it Aims for 25% Online Sales by 2026

Retail TouchPoints

Foot Locker , which is aiming to grow its revenue to more than $10 billion through its Lace Up Plan, will expand tech investment to 3% or above annual sales — a move that will boost capital expenditure in the area by more than 50% over the coming four years and raise its overall capital expenditure by more than $50 million as it pursues 25% digital sales by 2026.

Planning 256
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H&M posts surprise profit, despite slow seasonal sales

Inside Retail

H&M, the world’s second-biggest fashion retailer, reported on Thursday a surprise operating profit for the December-February period, despite weak demand as consumers curtailed spending amid soaring inflation. Operating profit in the Swedish group’s fiscal first quarter was $69.73 million against a profit of 458 million a year earlier and a mean forecast of 1.10 billion loss in a Refinitiv poll of analysts.

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The Pragmatic Guide to Composability

Be empowered to master the digital landscape and implement modular and adaptable composable technologies. Authored by Orium, The Pragmatic Guide to Composability takes readers on a journey from composable’s beginnings to common misconceptions about the approach, then concludes with strategies for choosing implementations that result in quick wins to grow your ROI.

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Banana Republic Expands Home Goods Options with Bedding, Rugs and Décor

Retail TouchPoints

Banana Republic has expanded its selection of home goods with an exclusive spring collection of premium bedding, rugs, pillows and décor. The new additions to the BR Home collection will focus on craftsmanship and sourcing products using high-quality and natural fabrics such as European linen, plush cotton cashmere and organic cotton.  BR Home includes items crafted by artisans from around the globe, exclusively created and curated by Banana Republic.

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Adairs, Aboriginal artists Cungelella Art create new collection

Inside Retail

Homewares retailer Adairs has partnered with an Indigenous art project – Cungelella Art – to launch a limited-edition collection in-store and online. Cungelella Art is a project between four Kalkadoon sisters, named after the family’s grandmother. The collection reflects the stories of the sisters’ Kalkatungu homelands, with the colour palette “influenced” by the ancient rock faces, spinifex-covered hills and the shades of the Mt Isa sunset.

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Why retailers can’t afford to ignore cybersecurity

Inside Retail

With the Federal Government announcing a new national cyber office and an overhaul of Australia’s cyber law also announced, cybersecurity continues to be a top issue for business and industry. According to the Australian Cyber Security Centre’s Annual Cyber Security report , the average cost of cybercrime to Australian businesses has risen by 14 per cent from FY21 to FY22, and can cost $39,000 to a small business, $88,000 to a medium business, and more than $62,000 to large business per incident

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Private Label’s Growth Could Be Lasting — if Retailers Listen to Consumers’ Sustainability Preferences

Retail TouchPoints

The trend lines for private label sales have rarely looked better. The Private Label Manufacturers Association reported that sales of private label consumer packaged goods soared 11% last year to nearly $230 billion. Sales of store brand products often rise during periods of economic hardship, and it’s clear that double-digit inflation has spurred consumers to turn to cheaper alternatives to save money.

Consumer 199
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Alibaba’s restructuring: It’s all about agility and retaining synergies

Inside Retail

It’s a brave new world for Alibaba Group, which recently announced that it is planning to split into six units and explore fundraisings or listings for most of them. This is all part of a major revamp, as the Chinese government eases its regulatory crackdowns and starts to support its private enterprises. The six independent business units that have been proposed are: Cloud Intelligence Group, Taobao Tmall Commerce Group, Local Services Group, Cainiao Smart Logistics Group, Global Digital Comme

Finance 130
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Saks customers spend big on live-streamed events

Retail Wire

Customers shopping at Saks Live streaming events spend twice what the average shopper spends. “Luxury has a real heritage in these very intimate, very interactive experiences that get you really close to the fabulous things that we’re selling, the beautiful construction, the high quality,” said Saks CMO Emily Essner.

Shopping 130
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Innovation Fest: Summer of AI

Join Bloomreach at Innovation Fest: Summer 2024, a virtual event, to explore the future of personalized marketing and merchandising! Along with the company’s top product experts, CEO Raj De Datta will provide an exclusive look at the company’s latest AI innovations reshaping the omnichannel experience. Don’t miss out on this exciting opportunity to connect with fellow industry leaders and explore the latest trends in retail technology.

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Retail appointments of the week

Inside Retail

Redbubble co-founder Martin Hosking named CEO By Rakshnna Pattabiraman Martin Hosking has been appointed CEO and MD of the Redbubble Group, effective immediately. Outgoing CEO Michael Ilczynski resigned to pursue other opportunities in a non-competitive area and will provide assistance to Hosking until June 30 to ensure a smooth transition. “While I am disappointed the group has not returned to growth under my leadership, I am proud of the progress we have made towards achieving our strategic ob

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The metaverse dream seems light-years away

Retail Wire

It looks like we’ll have to remain content living in the material world as the hyped-up dreams of a virtual one (AKA the metaverse) seem a long way from becoming a reality. Disney, Meta and Microsoft are among the major companies with grand visions for the metaverse that have since cut back on those efforts or abandoned them altogether.

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How Cadbury, Darrell Lea and Koko Black are changing the Easter recipe

Inside Retail

Ten consecutive cash rate rises, as well as grocery price increases of almost 10 per cent during the three months to December 2022, could set the scene for the next major retail sales event: Easter. The holiday is expected to see Australians indulge, according to the Australian Retailers Association (ARA), which is tipping consumers will spend almost $1.7 billion during Easter – a figure which is up 14.5 per cent on 2022, and which outstrips base-line inflationary increases.

Marketing 130
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ByteDance preps new U.S. app launch despite TikTok ban talk

Retail Wire

ByteDance, the parent company of TikTok, has begun trying to drum up interest in a new social media app focused on fashion, food and wellness. The new Lemon8 platform is trying to recruit creators before it officially rolls out in the U.S. later this year. ByteDance is under pressure to cut its alleged ties with the Chinese government or sell TikTok to avoid an outright ban on the video-sharing site in the U.S.

Fashion 130
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From Concept to Deployment: Building Commerce Storefronts with Composable UI

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The Visual Merchandising and Display Show Preview: An Exciting Showcase of Innovation, Creativity, and Expertise in the Retail Design Industry

Retail Focus

The Visual Merchandising and Display Show is one of the most highly anticipated events in the retail industry, providing a unique platform for professionals to come together and showcase the latest innovations, trends and techniques in the field of visual merchandising and display. The show will take place on the 18th to 19th April 2023 at the Business Design Centre in London and is set to be a must-attend event for anyone looking to stay ahead of the curve in retail.

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More Americans filed for unemployment last week

Retail Wire

First-time jobless claims rose 7,000 to 198,000 last week, according to the Labor Department. The four-week average rose to 198,350, marking the tenth straight week under 200,000.

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10 Different Techniques to Try to Increase High-End Retail Sales

Retail Focus

While all retail stores use similar marketing techniques , high-end retail stores have to use that blueprint and turn it on its head. After all, no one is going to buy a $5,000 bag just because it’s expensive; they buy it for the name brand. But if you don’t have a name, what can you do? 10 Different Techniques to Increase Luxury Sales Figures Gucci, Dior, and Chanel can get by with just name recognition alone, but your brand will need something more.

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Dutch Bros. continues eastward expansion

Retail Wire

The Dutch Bros. coffee chain, which opened in 1992 in Oregon, plans to open 150 new shops this year,including its first locations in Alabama and Kentucky. The company, which opened 133 new shops in 2022, expects to have 1,000 in operation by the first half of 2025.

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Secrets of a Successful Sale: Optimizing Your Checkout Process

Speaker: David Nisbet, Everett Zufelt, and Michaela Weber

Once upon a time, in the vast realm of online commerce, there lived a humble checkout button overlooked by many. Yet, within its humble click lay the power to transform a mere visitor into a loyal customer. 🧐 💡 Getting checkout right can mark the difference between a successful sale and an abandoned cart, yet many businesses fail to make payments a part of their commerce strategy even when it has a direct impact on revenue.

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How to Build a Customer Company Through Integration

Mulesoft

Learn how integrating your touchpoints throughout your customers' buying journeys will help you develop a true customer company. The post How to Build a Customer Company Through Integration first appeared on MuleSoft Blog.

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America’s largest egg producer reports a 718 percent gain in profits

Retail Wire

Cal-Maine Foods, the largest egg producer in the United States, saw its sales double year-over-year in the quarter ending February 25. The company’s quarterly profits jumped 718 percent as it raised prices. The total number of eggs sold inched up one percent.

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Moschino flagship store references the "history of ancient Italy"

Dezeen

Italian studio Andrea Tognon Architecture has collaborated with former Moschino creative director Jeremy Scott to renovate the brand's flagship store in Milan. Located on Via della Spiga, one of Milan's famed shopping streets, the store sits within the 18th-century Palazzo Perusati, which was recently transformed by real estate company Hines into a luxury retail development.

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CVS CEO decries reduced access to maternal health services

Retail Wire

CVS Health CEO Karen Lynch says the company is a “strong proponent” of maternal health and is concerned that access may be restricted. “Just look at the numbers with maternal health in America. It is unacceptable that a country of ours is going backwards in maternal health,” Ms. Lynch said. “We need to make sure that people and women are getting the care and the services that they need.” Ms.

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Get MACH Ready with Orium, Commercetools, and Contentstack

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DPD supports RSPB with wetlands restoration project

A1 Retail

Parcel delivery firm DPD has donated £90,000 to the RSPB to support the nature conservation charity’s work restoring a sand and gravel quarry on the banks of the River Trent, in Nottinghamshire. Langford Lowfields is a flagship conservation project, created out of a partnership involving the RSPB and Tarmac. The reserve currently covers 120ha and provides a haven for nature.

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3 Best Practices for API Governance Across Your Organization 

Mulesoft

API governance ensures consistent API quality and security through design, development, and deployment. We often see API governance as an impediment to product delivery. But without proper governance, the APIs we build and use to create a composable enterprise become the weak link that leaves data exposed. The post 3 Best Practices for API Governance Across Your Organization first appeared on MuleSoft Blog.

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Tommy Hilfiger introduces multi-metaverse hub for Metaverse Fashion Week

Retail Dive

The brand debuted both physical and digital wearables in a collaboration with DressX, Ready Player Me, Spatial, Roblox and Decentraland.

Fashion 114
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Employing skilled talents without degree ‘could close digital skills gap’, research finds

Retail Times

The subject of the tech skills gap remains a hot topic of conversation in both tech and wider business circles, with Fortune recently reporting on how the gap may well widen if uptake of tech careers continues to remain low amongst Gen Z.

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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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Dollar General to bring expanded beauty offering to 300 stores this year

Retail Dive

The retailer is also introducing three exclusive skin and hair care lines — featuring products for $6 or less — nationwide.

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Alibaba Restructures

LS Retail

©iStock/Robert Way The Jack Ma-founded conglomerate, which includes Alibaba , said on Tuesday, March 28, 2023 it was planning to split into six units and explore fundraisings or listings for most of them, marking the biggest restructuring in its 24-year history. This might be a signal that Beijing’s regulatory crackdown on corporates is ending, propelling the conglomerate's shares higher and boosting investor confidence in prospects for Chinese tech firms.

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The Backroom: Unearthing financial details about J.C. Penney

Retail Dive

The team talks about the treasure trove of information on the department store’s financial health, found thanks to a tip from one of its new owners.

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Westar to Develop 175,000-Square-Foot Retail Center in Southern California

Shopping Center

Rancho Mission Viejo, Calif. — Westar Associates will develop Esencia Commons, a 175,000-square-foot retail center in Rancho Mission Viejo. Upon completion, the property will feature a supermarket, fitness center, gas station and other retail and restaurant spaces. Groundbreaking for the… The post Westar to Develop 175,000-Square-Foot Retail Center in Southern California appeared first on Shopping Center Business.

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From Data to Decisions: Maximizing Retail Potential With AI

Discover how retailers are transforming data into actionable insights for growth. By leveraging data and analytics to their potential, retailers can enhance decision-making, improve customer experiences, and streamline operations to stay ahead of the competition. From Data to Decisions: Maximizing Retail Potential With AI, authored by Orium, commercetools, and Google Cloud, demonstrates how businesses can unify and activate data across the tech stack to achieve retail excellence and create growt