Tue.Nov 08, 2022

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Preparing for the Rise in Online Retail Returns

Retail TouchPoints

In 2021, returns cost retailers a whopping $761 billion , or almost 17% of total U.S. retail sales. This year the powerful combination of the special sale dates in Q4 (like Target, Amazon and Walmart holding October Black Friday events) and an increase in ecommerce holiday shopping means that this upward trend for returns will continue. Returns can be an excellent opportunity to sell something new to a known customer.

Returns 300
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Inside Designworks’ four-pronged expansion strategy

Inside Retail

After honing its existing portfolio throughout the pandemic, Designworks is looking to harness the substantial growth it has experienced to develop its local and international presence in the years ahead. Designworks is the wholesale arm of Brand Collective, which recently merged with Pas Group to form a $600 million business in April. Its portfolio includes a mix of about 20 licensed, vertical and owned brands, including Everlast, Mossimo, Bluey, Lonsdale, Umbro and Peter Rabbit.

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Tuesday Morning Appoints New CEO and COO

Retail TouchPoints

Tuesday Morning , the off-price home goods retailer, has appointed Andrew T. Berger to lead the company as CEO. He replaces Fred Hand , who joined the company in May 2021. Berger’s appointment is effective immediately, following Hand’s decision to retire from the chief leadership role and the retailer’s board. At the time of Berger’s September 2022 appointment as Director of Tuesday Morning, the company had received a $32 million investment from Retail Ecommerce Ventures (REV), parent company of

Finance 283
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“Unkind and inconsiderate”: Why brands are leaving Twitter in droves

Inside Retail

The last few days have been particularly embarrassing for billionaire Elon Musk. The self-proclaimed ‘complaint hotline operator’s purchase of social media Twitter is the biggest story in tech circles, and not because it has gone smoothly. . Rather, the drama that is unfolding around his takeover has led many users, as well as crucial advertisers, to question whether they should keep using the service.

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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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Overstock Teams with UPS to Tackle Home Furnishings Returns

Retail TouchPoints

Overstock.com is piloting a new returns program with UPS that will allow Overstock customers to schedule doorstep pickup for returns of unwanted items with no re-boxing required. . The partnership will give both Overstock and UPS the “opportunity to better understand customer preferences” and “serve up options that align with their day-to-day lives,” said Overstock.com CEO Jonathan Johnson during the company’s Q3 earnings call on Oct 27, 2022.

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Australia’s retail sales growth can’t last. Here’s how to prepare for it

Inside Retail

The latest retail sales figures are really quite incredible. According to the Bureau of Statistics (ABS), retail sales rose by 0.6 per cent from August to September, the same figure as the month prior. It almost beggars belief considering interest rates have increased seven times since May with the Reserve Bank recently announcing another 0.25 per cent hike, adding an estimated $74 a month to repayments for Aussies with a $500,000 loan.

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Westfield Penrith unveils tenants for new food and entertainment precinct

Inside Retail

Westfield Penrith has revealed the brands that will join its $33 million casual dining and entertainment precinct. Coles supermarkets will be the first to open next Wednesday (November 16) with an open-front bakery, a large deli and Liquorland, followed by the Queensland-based Hanaromart Asian supermarket. Dining outlets including Thai Thae, No 1 Malatang and Smiling Dumplings and Noodles will open early next month.

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Amazon Commits $53M in Funding to Accelerate Climate Innovations by Women

Retail TouchPoints

To create greater equity for women entrepreneurs whose innovations combat climate change — but who often don’t receive crucial funding — Amazon will contribute $53 million through a partnership with the U.S. Agency for International Development (USAID). The retailer will give $3 million to support the USAID partnership and invest $50 million from its Climate Pledge Fund into women-led climate tech companies.

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Vegemite releases merch for summer festivals

Inside Retail

Vegemite is expanding its foray into fashion with the release of a summer merch capsule collection, which the company says has been designed for the upcoming festival season. Available only from the brand’s “Mitey Merch” store, the range includes both old styles and new arrivals, including tees, shirt and shorts sets, cropper shirts, a legionnaires hat, and a bum bag.

Fashion 243
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Levi’s Picks Kohl’s CEO as LS&Co. President

Retail TouchPoints

Kohl’s CEO Michelle Gass will leave the department store retailer to take on the newly created position of President, LS&Co., reporting to Levi Strauss & Co. President and CEO Chip Bergh. Beginning Jan. 2, 2023, Gass will lead the Levi’s brand and the company’s global digital and commercial operations, at which time she also is expected to join the company’s board of directors.

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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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KENJI launches West Midlands flagship at the Bullring

Retail Focus

Hammerson has announced that KENJI, the East-Asian-inspired homeware and stationery brand, has opened its debut location in the West Midlands at the Bullring. Located on the Bullring’s middle level, the 3,250 sq ft West Midlands flagship showcases KENJI’s full range of eclectic homeware, collectable plushies and kawaii stationery ranges, alongside the brand’s extensive selection of East-Asian snacks and confectionery. .

ATS 182
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Nurturing Influencers: How Adore Me, Walmart and Express Support Creators

Retail TouchPoints

The creator economy is worth approximately $104.2 billion, according to CBInsights, and that growth is poised to continue, especially as new solutions and services emerge to help these creators monetize and grow their individual brands and businesses. But what exactly do creators need to flourish and do their best work (and do their best for the brands they work with)?

Marketing 228
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Newson’s Yard unveils new brands

Retail Focus

Grosvenor unveils the design and interiors brands expanding into Newson’s Yard, a new sustainable design hub housed in a re-imagined historic timber yard, as the property owner supports the growth of the renowned Pimlico Road Design District in London’s Belgravia. Designed by Stiff + Trevillion , the innovative redevelopment of the 1840s buildings celebrates their heritage and character while providing five new retail units, two food and beverage spaces and nine homes.

Boutique 182
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Michelle Gass leaves Kohl’s as CEO for Levi’s

Inside Retail

Michelle Gass, CEO of Kohl’s Corporation, is to depart the department store chain next month to join Levi Strauss & Co (LS&Co) as its new president. Gass will step down as CEO and member of Kohl’s board on December 2. Tom Kingsbury, a director nominated by hedge funds Macellum Advisors and Ancora Holdings, will then serve as interim CEO until a permanent successor is named.

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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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Retail credit card holders are paying record high interest rates

Retail Wire

The average retail credit card rate has risen to a record 26.72 percent, according to a study by Creditcards.com. There are 24 cards on the market that now charge 30 percent interest on purchases. Retailers including Burlington, Dick’s Sporting Goods and Wayfair all have cards charging 30 percent.

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Ex-cop turned cafe owner becomes a viral sensation

Inside Retail

Kayahan Curtis Gunes of Wollongong, New South Wales has found himself becoming a viral sensation on the back of his posts on Instagram and TikTok that took followers behind the scenes of his life in the cafe he owns. An ex-cop turned cafe owner, Gunes originally created the posts with the aim of promoting his business Evil Eye Cafe. Over time, he has managed to gain 45.1k followers with 532.1k likes on TikTok, and 14.3k followers on Instagram.

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Amazon is still selling the antisemitic book and film promoted by Kyrie Irving

Retail Wire

Amazon.com continues to sell print and video versions of “Hebrews to Negroes: Wake Up Black America”, an antisemitic book that promotes lies about the Holocaust and other falsehoods about Jewish people. “The book has become hot because of the news. All the sellers, including Amazon, have cashed in,” said Alvin Rosenfeld, director of the Center for the Study of Contemporary Antisemitism and a professor at Indiana University.

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Behind the “massive” potential for premium outlet centres in Japan

Inside Retail

On 20 October, Mitsubishi-Simon, a joint venture of the Japanese commercial property developer and American mall operator, opened Fukaya-Hanazono Premium Outlets, its tenth premium factory outlet centre in Japan. It was the culmination of a development that first broke ground in July 2021 as part of an area improvement project. The centre is located in Fukaya City, Saitama Prefecture, north-west of Tokyo.

Shopping 130
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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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Kohl’s CEO Michelle Gass is moving to Levi’s

Retail Wire

Levi Strauss & Co has named Michelle Gass to lead the company, replacing long-time CEO Chip Bergh. Ms. Gass will leave Kohl’s, where she is currently CEO, in December. Levi’s succession plan calls for Ms. Gass to report to Mr. Bergh before fully taking over.

Planning 130
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How Sük Workwear is challenging stereotypes about women’s fashion

Inside Retail

Launched in 2019, Sük offers practical and stylish workwear for women both online and at its store in Melbourne. After focusing on fit for the past two years, the brand now offers sizes 4-30, and is gearing up to launch new products and styles that work for all body types. Here, founder and creative director Mimosa Schmidt shares why she launched the brand, what the customer response has been like so far and what’s next for Sük.

Fashion 130
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Tyson Foods CFO arrested for public intoxication and trespassing

Retail Wire

Tyson Foods CFO John R. Tyson was arrested over the weekend for allegedly getting drunk and falling asleep in a home that was not his own. A woman in Fayetteville, AR, entered her home on Sunday to find a man sleeping in her bed. “Tyson was not invited to stay at the residence and the occupants did not know who he was,” according to the police report.

ATS 130
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Measure and improve your in-store execution with crowdsourced audits

Inside Retail

Measuring your brand performance in-store can often feel like you’re trying to hit a moving target. This is where retail auditing comes in. Retail auditing involves collecting in-store data to measure the effectiveness of a store’s retail execution. These insights can be collected by retailers in-house or by third-party research firms or solutions providers.

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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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Goldman Sachs says U.S. recession is not a foregone conclusion

Retail Wire

Goldman Sachs sees a 35 percent chance of the U.S. economy going into a recession over the next 12 months. The investment bank points to slowing job and wage growth as the most encouraging signs that the national economy will continue to eek out gains. “We still see a very plausible non-recessionary four-step path from the high-inflation economy of the present to a low-inflation economy of the future,” wrote Goldman Sachs chief economist Jan Hatzius in a report.

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How to Buy a Franchise in 2022

Small Biz Trends

Buying a franchise business system can be a savvy financial strategy because you get to use an established brand and its products. According to statistics from the ADP National Employment report, franchise system businesses continue to attract a reliable stream of employees and customers. The same customers who visit a certain franchise in Texas are apt to visit another in Pennsylvania, or wherever their travels take them.

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Anheuser-Busch buys a pro pickelball team

Retail Wire

Anheuser-Busch will acquire a Major League Pickleball team that will begin play in the 2023 season. The financial terms of the deal were not disclosed. “We love the accessibility of pickleball and we think it’s an amazing opportunity for us to gain relevance and excitement for our brands,” said Matt Davis, head of Anheuser-Busch’s U.S. sports marketing and partnerships.

Marketing 130
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Cornish Bakery opens Scottish location at Caledonia Park, Gretna Green

A1 Retail

Cornish Bakery, one of the UK’s fastest growing, award-winning, independent bakery companies has opened another new location in Scotland’s premier design village, Caledonia Park at Gretna Gateway. The 2,500 square foot property marks Cornish Bakery’s second Scottish location, with the company set to open a bakery per month in the coming year. Owned by Railpen, one of the largest pension managers in the UK, Caledonia Park is home to the best designer shopping experience, and a strong partner in t

Location 105
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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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Adidas makes a change at the top

Retail Wire

Bjørn Gulden, who has led Puma SE for nine years, will become CEO of Adidas AG beginning on Jan. 1. He replaces Kasper Rorsted who is stepping down following a series of disappointing quarterly results and a reduction in the company’s forecast. Adidas CFO Harm Ohlmeyer will serve as interim CEO through the balance of the year.

ATS 100
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Food price inflation could hit 17-19% early next year, says analyst IGD

Talking Retail

The rate of food price inflation will peak at 17-19% in early 2023, then begin to slow over the following 12 months, suggests a new forecast by grocery market analyst IGD. Speaking at today’s Insight & Impact 2022 conference in London, IGD chief economist James Walton said the biggest food price inflation drivers would come. This story continues at Food price inflation could hit 17-19% early next year, says analyst IGD.

Marketing 104
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Big tobacco tries to slow the transition to a smoke-free future

Retail Wire

Big tobacco companies acknowledge the dangers of their products and publicly call for a future without smoking. The companies, at the same time, are taking steps to prevent a smoke-free future from coming about by fighting local initiatives that would ban menthol cigarettes, as example.

ATS 100
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Showfields Debuts Home-Focused Store in Brooklyn

VMS

Lifestyle retailer Showfields (New York) is opening a concept store, House of Showfields, this week in Brooklyn’s Williamsburg neighborhood. “After three years of serving up the most unique brands and stories, we have launched a new concept store designed around the foundation from which our lives are built – the home,” the company says on its website.

Outdoor 99
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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.