Fri.Dec 09, 2022

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Prada Picks Former Luxottica Chief as CEO

Retail TouchPoints

Prada Group has hired Andrea Guerra as CEO, with the official appointment scheduled to be made during in January 2023. Miuccia Prada will remain in the roles of Creative Director of Miu Miu and Prada and as a member of the board. Prada will continue to share the lead creative role of her family’s namesake luxury brand with Raf Simons. Guerra will step into the role Current CEO Patrizio Bertelli has been appointed Chairman of the Board of Directors of Prada S.p.A.

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Walmart to offer buy now, pay later loans through fintech startup

Retail Wire

Walmart plans as early as next year to launch buy now, pay later loans through its “One” fintech startup that was formed with Ribbit Capital.

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How retailers can avoid overselling and thrive this holiday season

Inside Retail

Remember the early days of the pandemic? When locked down consumers were buying everything from loungewear to air fryers and warehouses across the world were being cleared as supply chain disruption hit hard. Today couldn’t be more different. Retailers are suffering from ‘inventory bloat’ or too much stock. In order to de-risk and become less dependent on global providers and their delivery time frames they bought too much stock they are now struggling to sell.

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Zebra Technologies Appoints New CEO and Executive Board Chair

Retail TouchPoints

Zebra Technologies has named Chief Product and Solutions Officer Bill Burns as its next CEO and board member, effective March 1, 2023. Current CEO Anders Gustafsson has been named Executive Chair of the Zebra Board of Directors. Burns, a 30-year technology veteran, joined Zebra in 2015 as the company’s SVP of Enterprise Visibility and Mobility, and was promoted to the product and solutions chief role in 2018.

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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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What Crypto Means for Retail and E-Commerce

Retail Focus

There has been a steady rise in e-commerce and online retail sales. The online sales sector has become a major component of modern business and online entrepreneurship. This article looks at how cryptocurrencies are changing online retail and e-commerce. The rise of e-commerce driven by crypto. Both retailers and consumers alike have been driven by the increase in the simplicity in which e-commerce and online retailing can be engaged in.

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VF Corporation Names Independent Director CEO as it Searches for a Successor

Retail TouchPoints

VF Corporation has named Benno Dorer, Lead Independent Director of the VF Board of Directors, as Interim President and CEO, effective immediately. He replaces retiring Chairman, President and CEO Steve Rendle and will hold the role while VF searches for a permanent successor. Dorer joined the VF Board in 2017 and has served as the Lead Independent Director since 2021.

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YOOBIC Communities Give Retailers a Secret Weapon to Combat Employee Turnover

Retail Focus

YOOBIC , the innovator of the all-in-one Frontline Employee Experience Platform, today announced the launch of YOOBIC Communities, a powerful expansion of the YOOBIC app designed to enable companies with frontline workers to drive engagement and give employees a shared space to build collaboration, camaraderie, and a sense of common purpose. The feature launch cements YOOBIC’s place as the premiere Frontline Employee Experience Platform (FEXP) for today’s most demanding distributed enterprises

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Amazon adds Tik-Tok style shopping feed to its app

Retail Wire

Amazon.com is adding Inspire, a short-form video and photo feed, onto its app. The feature will allow shoppers to see product content created by brands, customers and influencers. Inspire is being rolled out to select customers in the U.S. early this month before becoming more broadly available in 2023.

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In the News: Grants of $5,000 to $25,000 Available Now From Public and Private Organizations

Small Biz Trends

Ring in the New Year by applying for many of the available grants nationwide to start the year of right. These funds have been established to provide financial help for small businesses in a wide range of issues specific to the segment. As a small business owner, taking advantage of these opportunities is one way you can overcome any of the issues these grants seek to resolve.

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Costco reports gains in sales and earnings

Retail Wire

Costco’s same-store sales improved 6.6 percent year-over-year in its fiscal first quarter, and the warehouse club giant posted earnings of $3.07 a share, up from $2.98 in 2021.

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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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Co-op becomes first retailer to launch a £1m ‘warm spaces’ funding boost to support vital services and keep UK communities warm this winter

365 Retail

As winter looms, Co-op becomes first retailer to launch a £1 million ‘Warm Spaces’ funding boost, to provide urgent support to local community organisations across the UK, as they help communities navigate rising energy costs during the cold winter months. This funding comes as a welcome boost, with insight from more than 1,600 local community causes across the UK showing that nearly two-thirds (59%) of projects have experienced a shortfall in funding over the past 12 months.

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Cannabis sales fall below pandemic highs

Retail Wire

Sales of marijuana in medical dispensaries and retail stores have fallen year-over-year after posting big gains during the pandemic, according to Headset. “What we saw in 2020 was a massive spike in sales tied to the pandemic as people stayed home, had government stimulus money and not a lot to do,” said Chris Wash, CEO of Marijuana Business Daily.

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It’s Santa’s Busy Time of Year and He’s Got No Time for Meetings

Small Biz Trends

This article, " It’s Santa’s Busy Time of Year and He’s Got No Time for Meetings " was first published on Small Business Trends.

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FTC sues to scuttle Microsoft’s deal for Activision Blizzard

Retail Wire

The Federal Trade Commission has sued to block Microsoft’s $69 billion deal to acquire Activision Blizzard. Commissioners by three to one voted to file a suit citing the harm an approved deal would do to consumers. “Microsoft has already shown that it can and will withhold content from its gaming rivals,” said Holly Vedova, director of the FTC’s Bureau of Competition.

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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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Döner Shack named best fast-casual franchise in the UK

A1 Retail

Döner Shack , the Berlin street-food concept, is celebrating after being named as the number one fast-casual franchise in the UK. As its debut, the business has been ranked in the prestigious Elite Franchise Top 100 (EF100) from hundreds of entries across every sector. It is a title the brand can proudly hold throughout 2023, having competed alongside huge fast-food brands like Subway and Papa John’s.

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Retailers are ditching free online returns

Retail Wire

Retailers including Abercrombie & Fitch, Anthropologie, H&M, J.Crew and Zara now charge customers stocking fees for returned merchandise. Americans returned 47 percent of the items they ordered online this year, according to parcelLab.

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Self-checkouts are a less morally troubling target for shoplifters

Talking Retail

Shoplifting is increasing worldwide, according to retail artificial intelligence specialist Scanwatch. The technology company added that self-checkouts are being particularly targeted, including by first-time shoplifters who have no criminal background. Scanwatch said UK retailers had reported an 18% rise in theft in the second half of this year, while US National Retail Federation figures indicate.

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NY and NJ brings in more imports than LA and Long Beach

Retail Wire

The Port of New York and New Jersey have moved a record level of cargo this year and, in the process, supplanted Los Angeles and Long Beach as the busiest ports in the nation. More cargo is being shipped to East and Gulf Coast ports after backups caused supply chain delays in late 2021.

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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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Guest Post: Is Your Customer Journey Aligned with Brand Expectations? If Not, It Could Be Costing You Sales

Hyken

This week, we feature an article by Nick Bandy, Chief Marketing Officer at LiveVox , an omnichannel platform that helps brands seamlessly communicate with their customers. He shares how you can align your customer’s journey with their brand expectations. The customer journey is essential to any company’s success. And in today’s digital age, customer service is now more important than ever before.

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Amazon pilots returns at Staples stores

Retail Dive

With a relatively small store footprint, the e-commerce giant has forged partnerships with rivals and others to facilitate returns.

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Lids Hat Drop Debuts in Queens

VMS

Sports retailer Lids (Indianapolis) has unveiled a new retail concept, Lids Hat Drop, in Queens, New York. The store at 168-05 Jamaica Ave., is a bricks-and-mortar iteration of the brand’s LidsHatDrop.com platform that launched earlier this year. Like its online counterpart, the Lids Hat Drop concept will offer exclusive and limited-edition releases, including notable athlete and celebrity collaborations that pay tribute to the Jamaica, Queens neighborhood.

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Amazon rolls out TikTok-like shopping feature

Retail Dive

The new shoppable content function will allow consumers to buy from videos or photos directly within the app.

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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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Condado Tacos Charts 100 New Restaurants by 2026

VMS

Condado Tacos (Columbus, Ohio) is eyeing new markets as it looks to more than double its footprint over the next five years. The regional chain announced a plan to open 90 to 100 new restaurants by 2026, with 12 of those locations scheduled to open next year. The new markets the brand will enter in 2023 include St. Louis; Louisville, Ky.; Knoxville, Tenn.; Greenville, S.C.; and Birmingham, Ala.

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Walmart unveils visual search tool TrendGetter

Retail Dive

The retailer introduced the image search function during the holiday season to help shoppers find their desired items.

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Showfields’ Fifth Store Opens in Washington, D.C.

VMS

Showfields (New York), which describes itself as a lifestyle discovery store, has opened an outlet in Washington, D.C. Its latest locale is in a former menswear store at 3077 M Street NW in Georgetown. That space’s previous tenant was Brooks Brothers, and Showfields said its in-house design team re-envisioned it to create a colorful and engaging space while keeping the essence of the original design. “This store is a great example of how we approach the future of retail – we can take a her

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Lululemon touts ‘biggest day ever’ on Black Friday as sales jump 28%

Retail Dive

The brand is already outpacing its five-year growth expectations and appears untouched by inflation.

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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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A Beginner’s Guide to Selling on Amazon

Independent Retailer

Whether you are looking to grow your business or begin your journey as an entrepreneur, there is no doubt that Amazon is one of the fastest growing channels for sellers. With more than 200 million paid Prime members worldwide and roughly 7,400 products being bought per minute, the marketplace is unrivaled. Especially when utilizing Fulfillment by Amazon (FBA) , you can just sit back and watch as the money rolls in with little effort.

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The Weekly Closeout: Toys R Us launches NFTs and David’s Bridal debuts loyalty program for teens

Retail Dive

The toy company is releasing 10,000 digital collectibles, featuring its iconic mascot, and the bridal retailer launches a prom loyalty program.

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Retailers Seeking Supplier Diversity

Independent Retailer

Supplier diversity, wellness, and product discovery were all top-of-mind among buyers in Q3 as retailers seek new ways to entice consumers in the face of inflationary pressures. Surprisingly, Certified Organic USDA was also the most searched certification among APAC buyers across categories and Netherland health and beauty buyers. Men and women of all age ranges believe that self-care is an important part of making healthier lifestyle choices and many of them believe that self-care practices hav

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Registrations open for Retail Technology Show 2023, retail’s golden ticket

365 Retail

Registrations for retail’s golden ticket event, the Retail Technology Show , which brings together Europe’s most forward-thinking retailers and leading tech innovators, are now open, as it promises to bring a world of pure imagination, innovation and inspiration to the leading trade show. Taking place at London’s Olympia on 26-27 April 2023, the Retail Technology Show will be back bigger, better and bolder than ever before.

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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.