Retail TouchPoints
AUGUST 1, 2023
How can retailers transform losses into profits? External economic factors, such as fluctuating interest rates, an unpredictable housing market and persistent inflation have prompted consumers to rethink their spending habits. As a result, profitability is now a top priority for retail CEOs. Faced with shifting economic and consumer dynamics, retail leaders strive to unlock strategies that turn losses into profits.
Inside Retail
AUGUST 1, 2023
As marketing budgets continue to shrink in the face of economic uncertainty, many in the C-suite are trying to find ways to save money while maintaining, or preferably increasing, sales. It’s no surprise that June data from last-mile delivery platform Shippit showed that people were both spending less on each purchase and making fewer transactions than at the same time a year ago.
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Retail TouchPoints
AUGUST 1, 2023
Under Armour has launched its first-ever loyalty program, UA Rewards , for its U.S.-based customers. Members will earn reward points for making purchases, writing product reviews on eligible products and completing UA MapMyRun challenges. Currently available only online, Under Armour plans to roll out UA Rewards to its stores later this year. “Our consumers are incredibly engaged with our brand, and UA Rewards will enable a deeper connection, delivering the value and benefits they’ve been cravin
Inside Retail
AUGUST 1, 2023
Premium chocolatiers, much like other companies specialising in discretionary goods, are facing challenges brought about by current macroeconomic conditions. As cost of living pressures continue to rise, a large proportion of their consumer base is pulling back on non-essential items to ensure they can afford to pay bills and other essentials. Meanwhile, the cost of key ingredients such as cocoa continues to soar, with commodity prices up over 25 per cent year-over-year.
Speaker: Loreal Lynch, 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.
Retail TouchPoints
AUGUST 1, 2023
Named after Walmart’s eighth store, in Morrilton, Ark., Store No. 8 is Walmart’s incubation arm and a key part of the retailer’s broader innovation strategy. Founder Sam Walton used the Martin store to test new concepts and ideations that have since become key differentiators for the retailer. Store No. 8 acts as a strategic vehicle to think about “larger bets” that will be “transformational for Walmart in the medium- to long-term,” according to Jaya Balasubramaniam, VP of Incubation, Strategy a
Inside Retail
AUGUST 1, 2023
French-founded and Australian-owned skin and beauty retailer Ella Bache has powered through almost 70 years of ups and downs. And with the recent slowdown in consumer spending and rising cost of doing business, that experience is proving invaluable. According to the business’ third-generation owner and chief executive Pippa Hallas, Ella Bache is in a “strong” position to thrive in the current macroeconomic climate, thanks to the much-touted ‘lipstick effect,’ which has seen beauty brands histori
Experience Retail Today brings together the best content for retail owners from the widest variety of industry thought leaders.
Inside Retail
AUGUST 1, 2023
Woolworths Group and its subsidiary Woolstar have allegedly failed to pay more than $1 million in long service leave to 1235 former employees. According to Wage Inspectorate Victoria, between 2018 and 2021 Woolworths Group contravened the state’s Long Service Leave Act 2018 by failing to pay more than $960,000 in entitlements to 1199 former employees.
Retail TouchPoints
AUGUST 1, 2023
Lacoste has opened a new virtual store in partnership with Emperia to showcase its summer collection and expand the exclusive experiences tied to its NFT-based UNDW3 (pronounced “underwater”) loyalty program. This is the brand’s second virtual store; the first was a holiday-themed store that Lacoste launched with Emperia in December 2022. The goal of the new store is to “create a deep sense of community and shopper loyalty appreciation by offering a unique retail experience that extends beyond i
Inside Retail
AUGUST 1, 2023
Apple is likely to report a dip in iPhone sales in the April-June quarter as shoppers held out for a new model in a slow economy, making it important for the company to detail how it is using artificial intelligence to augment growth, analysts said. The world’s most valuable firm will wrap up Big Tech earnings on Thursday, with a likely 1.6 per cent drop in total quarterly revenue, according to Refinitiv – its steepest drop in third-quarter revenue since 2016.
Retail TouchPoints
AUGUST 1, 2023
Seeking to bring in more small business clients, Instacart is making a limited time offer that will give SMBs in the U.S. and Canada free access to Instacart+ for a year. First-time business users that sign up for an Instacart Business account will receive a 2% credit back on orders over $250 and a complimentary year-long Instacart+ membership, which gives them free same-day delivery on orders over $35 as well as additional savings.
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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.
Tokinomo
AUGUST 1, 2023
Everybody knows about the four Ps of marketing. Product, Price, Place, and Promotion are the core of marketing. In this article, we are going to focus on the Price. How much should customers pay to get the product? What impacts the pricing strategy? Which pricing strategy works best for different products?
Retail TouchPoints
AUGUST 1, 2023
Walmart has upgraded its Walmart Restored program by introducing Walmart Restored Premium , offering a broader assortment of “like new” refurbished items at the retailer’s everyday low prices. The original program debuted in August 2022. Items in the Restored Premium category show no signs of cosmetic damage and come with a 1-year warranty and 30-day (or more) free returns.
Inside Retail
AUGUST 1, 2023
Siam Piwat, a leading real estate and retail developer behind iconic landmarks such as Siam Paragon, Siam Center, and Siam Discovery,is charting a new course in digital innovation. In partnership with Pivot Digital Pte Ltd, Siam Piwat has established a joint venture named Xponential Co. Ltd, which is primed to enhance the OneSiam SuperApp to better serve the rapidly evolving needs of customers, business partners, and alliances.
Retail Focus
AUGUST 1, 2023
Following another year of exponential growth (+62% ‘23 vs’ 22, / +51% ‘22 vs ’21) and the successful opening of the flagship store in Marlow, British purpose-led fashion brand Scamp & Dude announces two new stores as part of its retail expansion. With a vision to be the UK’s most respected and loved purpose-led fashion brand, the two new stores aim to satisfy high demand for their womenswear and force for good charitable partnerships from its loyal and rapidly growing community.
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
AUGUST 1, 2023
Debra Perelman has stepped down from her role as president and CEO of Revlon Group Holdings. The cosmetics company has appointed Elizabeth A Smith as interim CEO, effective immediately, while Perelman will serve as an advisor during a transition period. Smith previously served as executive chairman and CEO of Bloomin’ Brands, was chair of the Federal Reserve Bank of Atlanta, and president of Avon Products.
Retail Wire
AUGUST 1, 2023
Schnuck Markets, a St. Louis-based grocery chain, has emerged as the most innovative grocer in America, outpacing giants like Walmart and Amazon in technology adoption. The company recently partnered with Instacart to introduce smart carts, called Caper Carts, that use AI and computer vision to identify items shoppers put into them, allowing customers to skip.
Inside Retail
AUGUST 1, 2023
“Data! Huh, yeah. What is it good for? Absolutely everything. Say it again!” While not as catchy as Edwin Starr’s No. 1 hit, the sentiment behind this version of the lyrics rings true in how we used to think about data. You probably know the importance of data to modern businesses well, and have heard it often described as ‘The new oil’. Yet, the way retailers need to think about data is changing.
Retail Wire
AUGUST 1, 2023
LVMH’s partnership with the Paris 2024 Summer Olympics is bringing luxury and sport together, creating opportunities for creativity and collaboration across various industries, particularly in apparel. The blending of activewear and tailored pieces is gaining popularity, offering versatility and comfort in clothing. Brands are tapping into this trend, creating wear-to-work staples and expanding their assortments.
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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.
Inside Retail
AUGUST 1, 2023
Pharmacy retailer Chemist Warehouse has joined forces with AFR Rich Listers Stuart Giles and Cathie Reid to form a new joint venture, Chemist Warehouse Hospital Pharmacy. Hospital pharmacies dispense more complex and expensive medicines than community chemists. The sector has already attracted the interest of groups such as ASX-listed Ramsay Health Care, the AFR points out.
Retail Wire
AUGUST 1, 2023
Major retailers like Walmart, Target, Home Depot, and Walgreens are using artificial intelligence (AI) in combination with anti-theft technology to combat organized retail theft, which has been on the rise in recent years.
Inside Retail
AUGUST 1, 2023
McDonald’s is to launch CosMc’s, a small-format concept, testing the spin-off brand at a few sites within a “limited geography” next year. CosMc is named for an alien character who visited the McDonaldland fantasy world and featured in a series of McDonald’s commercials. The character also made a brief appearance in the video game M.C. Kids. Global president and CEO Chris Kempczinski said the new concept will have “all the DNA of McDonald’s but its own unique personality”.
Retail Wire
AUGUST 1, 2023
Subway is offering a chance for one lucky fan to win free sandwiches for life, but there’s a catch – they must legally change their first name to “Subway” before Friday at midnight. The winner will be reimbursed for the legal fees of the name change. The promotion is part of Subway’s efforts to engage.
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
Retail Gazette
AUGUST 1, 2023
An email leaked to ITV News has shown that almost 55,000 shopfloor workers involved in a major equal pay battle with Asda may have seen a significant boost to their case. The message, which was sent to all claimants by their legal team at Leigh Day, suggests an independent expert has compared the jobs of mainly women working on the shop floor to their predominantly male colleagues in distribution centres – scoring them across 11 factors including knowledge and responsibility.
Retail Wire
AUGUST 1, 2023
Amazon has announced plans to double its number of same-day delivery facilities in the coming years, aiming to offer even faster delivery services. The company reported delivering over 1.8 billion packages in the same or next day to U.S. Amazon Prime members this year, a significant increase from 2019. While this expansion will provide more.
Retail Gazette
AUGUST 1, 2023
Birkenstock’s private equity owner L Catterton is considering launching an IPO of the shoe company, which could happen as soon as September. The stock market listing could value the footwear brand at over $8bn, sources told Bloomberg. Final decisions on the timing or size of the IPO are understood not to have taken place. Subscribe to Retail Gazette for free Sign up here to g et the latest news straight into your inbox each morning L Catterton, which is backed by luxury giant LVMH, bou
Retail Wire
AUGUST 1, 2023
Instacart has implemented a significant pay cut for its delivery drivers, reducing the minimum base pay per order from $7 to $4. This change, which makes drivers more dependent on customer tips, has sparked anger among the workers who say it is now harder to earn a decent income on the platform. Drivers’ earnings have.
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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.
Hyken
AUGUST 1, 2023
We have the privilege and honor of working with some amazing clients. One of them asked us to work with her team on a customer experience initiative that included every company employee. One of the regular assignments for their employees is to share examples of how they created a Moment of Magic® for a customer or colleague. They do short write-ups and share them with their managers.
Retail Wire
AUGUST 1, 2023
Walmart has acquired the remaining stakes of hedge fund Tiger Global and venture capital firm Accel in Indian e-commerce company Flipkart, further increasing its control over the firm. The retail giant reportedly paid $1.4 billion for Tiger Global’s shares, valuing Flipkart at approximately $35 billion, a decrease from its 2021 valuation of nearly $38 billion.
Retail Gazette
AUGUST 1, 2023
The Co-op has revealed its biggest ever pricing investment of £70m, as it extends lower prices across everyday essentials such as milk, eggs and bread. The convenience retailer – which has more than 2,400 food stores and 4.58 million active members – looks to lower the cost of ‘member-only’ prices on everyday essential products. As a result, Co-op members have a chance to save up to 11% on retail prices and an average of £500 a year, with Co-op British Milk one pint selling for 85p,
Retail Wire
AUGUST 1, 2023
Taco Bell is facing a proposed class-action lawsuit for alleged false advertising of its Crunchwraps and Mexican pizzas. The plaintiff, Frank Siragusa, claims that the food he received did not match the vibrant and abundant images shown in the chain’s advertising, accusing Taco Bell of deceiving consumers by falsely representing the actual content of their.
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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