Retail TouchPoints
MARCH 30, 2023
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.
Inside Retail
MARCH 30, 2023
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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Retail TouchPoints
MARCH 30, 2023
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.
Inside Retail
MARCH 30, 2023
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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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.
Retail TouchPoints
MARCH 30, 2023
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.
Inside Retail
MARCH 30, 2023
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.
Experience Retail Today brings together the best content for retail owners from the widest variety of industry thought leaders.
Inside Retail
MARCH 30, 2023
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
Retail TouchPoints
MARCH 30, 2023
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.
Inside Retail
MARCH 30, 2023
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
Retail Wire
MARCH 30, 2023
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.
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.
Inside Retail
MARCH 30, 2023
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
Retail Wire
MARCH 30, 2023
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.
Inside Retail
MARCH 30, 2023
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.
Retail Wire
MARCH 30, 2023
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.
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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.
Retail Focus
MARCH 30, 2023
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.
Retail Wire
MARCH 30, 2023
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.
Retail Focus
MARCH 30, 2023
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.
Retail Wire
MARCH 30, 2023
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.
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
Dezeen
MARCH 30, 2023
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.
Retail Wire
MARCH 30, 2023
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.
A1 Retail
MARCH 30, 2023
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.
Retail Wire
MARCH 30, 2023
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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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.
Retail Dive
MARCH 30, 2023
The brand debuted both physical and digital wearables in a collaboration with DressX, Ready Player Me, Spatial, Roblox and Decentraland.
Retail Times
MARCH 30, 2023
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.
Retail Dive
MARCH 30, 2023
The retailer is also introducing three exclusive skin and hair care lines — featuring products for $6 or less — nationwide.
Mulesoft
MARCH 30, 2023
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.
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
Retail Dive
MARCH 30, 2023
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.
Mulesoft
MARCH 30, 2023
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.
Retail Dive
MARCH 30, 2023
The retail giant is providing few details about the downsizing of a network that it had grown quickly in recent years.
LS Retail
MARCH 30, 2023
©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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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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