Wed.Nov 09, 2022

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In $40M Deal, Gap Sells Greater China Business to Ecommerce Provider Baozun

Retail TouchPoints

Gap will sell its Gap Greater China (GGC) business to Shanghai-based ecommerce solutions provider Baozun in a $40 million all-cash transaction. The sale is the latest move by the retailer to scale down during a difficult year that included cutting 500 corporate positions in September 2022, including roles at main offices in Asia. Baozun recently established Baozun Brand Management (BBM), through which it will use its technology portfolio to cultivate brands.

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“Fresh, modern and relevant”: Strand CEO Felicity McGahan talks rebrand

Inside Retail

The iconic Australian fashion and travel bag company has changed its name from Strandbags to Strand as part of a modernisation strategy that will affect every element of the business. It follows 20 per cent growth for the brand compared to pre Covid-19 levels, with an eagerness to fly, as well successful initiatives, generating foot traffic and sales.

Fashion 246
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The Reality of the Metaverse: Debunking 3 Myths about the World(s) of Web3

Retail TouchPoints

While the initial consumer and media hype surrounding the metaverse seems to have simmered down from its 2021 highs, the virtual spaces that were the talk of the town last year continue to grow and attract visitors — consumers and brands alike. “ A lot of brands missed Web2 frankly, and those brands are the ones that are going gangbusters into Web3 ,” said Sasha Wallinger, Head of Metaverse and Web3 Strategy at innovation and design consultancy Journey in an interview with Retail TouchPoints.

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Qantas sells Helloworld travel agency stake

Inside Retail

Qantas has sold its remaining 12.4 per cent stake in travel agency Helloworld for $33 million. Since 2008, the national carrier had held a stake in the travel agency when it was spun off as a merger of Qantas Holidays and Jetset Travel. Qantas subsidiary QH Tours sold the shares at $1.71 each on Tuesday night. Qantas Group CFO, Vanessa Hudson, said now is the “right time” to make an exit since the carrier’s stake in Helloworld had reduced over several years.

ATS 245
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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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CNBC: Activist Investor Pressure Encouraged Kohl’s CEO to Take Levi’s Leadership Role

Retail TouchPoints

Levi Strauss & Co. (LS&Co.) CEO Chip Bergh said that pressure from activist investors encouraged Kohl’s CEO Michelle Gass to take on her upcoming role as President and eventual CEO of LS&Co. , according to CNBC. Firms have been pressuring Kohl’s to take measures that include spinning off its ecommerce business or selling itself , and while the executive team has focused on staying the course , the calls for more drastic action have not ceased.

Returns 298
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What the cost-of-living crunch means for Black Friday

Inside Retail

Black Friday and Cyber Monday sale events have turbo-charged Christmas trading, with the month of November overtaking December in total retail sales for each of the past three years. Retailers are hoping for more Christmas cheer this year from Black Friday on 25 November and the Cyber Monday promotion three days later. There is little doubt the events will underpin Christmas trading again this year but results may not be as robust as in the past three years.

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Carnaby celebrates Christmas with a new instagrammable installation

Retail Focus

Last night, Tuesday 8 November , Shaftesbury celebrated the launch of the new Carnaby Christmas installation with a Christmas Shopping and Dining Party. Thousands of shoppers attended the free, experiential event, with over 100 retailers, restaurants and bars coming together to offer immersive in-store activations, offers, and interactive workshops.

Shopping 182
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Macy’s Commits $30M to Support Diverse Businesses

Retail TouchPoints

Macy’s has unveiled its new Shared Purpose, Unlimited Reach (S.P.U.R.) Pathways program to drive growth and investment for businesses owned by members of underrepresented groups that typically face barriers to capital. Macy’s has pledged to invest a total of $30 million — $20 million of its own supplier access fund and an additional $10 million — over the next five years, building upon its previous Mission Every One $5 billion commitment to support greater equity and diversity in its business by

Finance 279
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FedEx says it is delivering fewer packages than expected

Retail Wire

Package volume is lower this quarter than expected at FedEx. “In the U.S., you’re seeing again, as anticipated, a bit of a reset from the e-commerce boom and the volume surges that accompany that,” FedEx CFO Michael Lenz said.”We projected to have lower volume in our fiscal first and second quarter already. It just came in lower than our initial projections were.

ATS 189
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Sephora Adds On-Demand One-Hour Delivery Across North America

Retail TouchPoints

Sephora shoppers will now be able to get the retailer’s beauty products delivered to them in under an hour, on average, thanks to a new partnership with DoorDash. Items will be fulfilled from Sephora’s 500+ U.S. stores. Customers can use either the DoorDash app or website, and members of the Sephora Beauty Insider loyalty program can earn points for these purchases by linking their account on the DoorDash app’s Sephora store page.

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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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Scentre Group thrives as customers return to malls

Inside Retail

As customers return to malls in the post-Covid ‘new normal’ Scentre Group says it is now focused on “creating places more people choose to come, more often, for longer” In the three months to September 30, the group achieved AU$6.4 billion in sales from 42 Westfield Living centres across Australia and New Zealand – up $2.7 billion more than last year.

Returns 130
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Mobile Ecommerce Success Calls for the ‘Instagramification’ of the App Experience

Retail TouchPoints

Global downloads of mobile shopping apps were up 16% year-over-year in the first half of 2022 while the number of sessions was up 29% , according to data from the It’s Not Luck, It’s Skill: Make Every Marketing Dollar Count This Holiday Season report by data.ai. More consumers than ever are using mobile apps across their entire journey, from finding inspiration to checking out, and understanding how they are viewing the most important touch points will be vital to ecommerce success d

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Coles defends sustainability plans as it enters a “transformational year”

Inside Retail

Coles chief executive Steven Cain told investors at the company’s annual general meeting on Wednesday that next year will be “one of the most transformational” in the supermarket’s 108-year history. Continued investment in logistics, as well as a pipeline of new stores, are set to drive growth for Coles, despite the ongoing impact a higher cost-of-living is having on its customers, and inflation is having on its suppliers.

Planning 130
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EY Consumer Future Index: Economic Fears Abound, but Americans Still Plan to Spend for the Holidays

Retail TouchPoints

Retailers have reason to be positive about the holiday season — Americans are still planning to spend about the same or more than last year on gifts, despite the fact that 93% are concerned about the economy and rising living costs, according to EY’s latest Consumer Future Index. Some retailers will still feel pain, with 52% of shoppers spending less on non-essential consumer goods, but the holiday surge should still be a powerful force.

Consumer 262
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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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Woolworths launches world-first price integration scales

Inside Retail

Woolworths has partnered with food-tech company Tiliter to launch new price integration scales at four Scan&Go stores in Sydney. The new technology – which Woolworths says is a world first – will show the exact price of loose fruits and vegetables as well as their corresponding weight helping customers budget and plan their purchase beforehand. Woolworths’ head of business solutions for customer, retail and emerging concepts, Sailesh Shankar, said the retailer wants to provide a solution and

Planning 130
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Maryland and Missouri vote for legal weed

Retail Wire

Voters in Maryland and Missouri have opted in favor of legalizing marijuana for recreational use by adults. Voters in Arkansas and North Dakota defeated similar proposals. Twenty-one states have now approved marijuana for recreational use.

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7-Eleven parent to sell Sogo & Seibu for US$1.4 billion – report

Inside Retail

Seven & I Holdings, which owns 7-Eleven chain, is set to sell its department store chain Sogo & Seibu to US fund Fortress for US$1.4 billion, according to Nikkei Asia. The site also said Japanese home appliance store operator Yodobashi Holdings is considering buying some of the Sogo & Seibu sites and diverting proceeds to the US fund. Yodobashi will also open stores in several Sogo & Seibu locations in the country.

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Facebook parent Meta cutting 13 percent of its workforce

Retail Wire

Facebook parent company Meta is laying off 11,000 employees, about 13 percent of its corporate workforce. “At the start of Covid, the world rapidly moved online and the surge of e-commerce led to outsized revenue growth,” Meta CEO Mark Zuckerberg wrote in a blog post to employees. “Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended.

ATS 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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Lululemon didn’t change activewear, it changed apparel

Retail Dive

The Canadian brand introduced retail to athleisure. Now Brooks Brothers sells stretch dress shirts and Levi’s owns a yoga business.

Apparel 123
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TikTok ad revenues are less than projected

Retail Wire

TikTok has cut about $2 billion off its goal for 2022 ad revenues, citing a global economic downturn and the subsequent cut in marketing budgets.

Marketing 130
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Record High Heating Oil Prices Top $6 in Some States

Small Biz Trends

Heating oil prices have reached another record high in the US. According to new information today from the Energy Information Administration (EIA), the average price for a gallon of heating oil in the US is $5.90. That’s up 7 cents in the last week, and marks another all-time record high. ? Record High $6 Heating Oil in Several US States. The price for a gallon of heating oil is more than $6 in four US states: Delaware – $6.16.

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Allbirds posts higher 3Q sales and a bigger loss

Retail Wire

Allbirds reported that its third-quarter net revenues were up 16 percent year-over-year. The footwear brand posted a net loss of $25.2 million, compared to $13.8 million in 2021.

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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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O2 launches heart-warming Christmas campaign to help connect those most affected by the cost of living crisis

A1 Retail

The integrated campaign aims to get data into the hands of those who need it most through Virgin Media O2’s National Databank. Virgin Media O2 set up the National Databank in 2021 in partnership with Good Things Foundation to help tackle data poverty. The endearing narrative taps into the challenging reality of being unconnected and leans into the festive spirit of giving by championing the gift of data.

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Weis Markets reports strong results

Retail Wire

Weis Markets posted an 8.2 percent net sales gain for the third quarter. Same-store sales were up 7.9 percent. “As customers look for more ways to save, the Weis Gas Rewards Program, Weis Quality private-label products, and our ‘Low, Low Price’ programs offer strong value. We will build on our value proposition in the fourth quarter, when customers can earn a free turkey or ham for their holiday celebrations based on their purchases,” said Weis chairman, president and CEO Jonathan Weis.

Marketing 100
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16 Christmas Wreaths to Make and Sell

Small Biz Trends

Christmastime is always a busy shopping season, and consumers love to dress up their homes with festive holiday decor, such as hanging wreaths on their front door. This popular tradition makes a DIY Christmas wreath business a profitable opportunity. With just a little bit of skill and the right supplies, you can make unique Christmas wreaths that sell better than any generic store-bought wreaths.

Outdoor 98
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Impossible Foods hires CMO to sell plant-based products to carnivores

Retail Wire

Impossible Goods has hired Leslie Sims for the newly created position of chief marketing and creative officer. Ms. Sims, the current U.S. chief creative officer at Deloitte Digital, will begin her new role on Jan. 1.

Marketing 100
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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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Shaftesbury announces the opening of RIXO’s newest store on Carnaby Street

A1 Retail

Shaftesbury announces the opening of RIXO’s newest store on Carnaby Street. RIXO opened its third store located at 44 Carnaby Street, in the heart of London’s busiest shopping area. The 995 square ft store opens this November. The RIXO Carnaby store is the first to be curated with a design studio. The fit out of the store will be vintage inspired, keeping true to RIXO’s brand DNA.

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Chicago Update: While Some Tenants Have Vacated Storefronts, Other Retailers Have Expanded

Shopping Center

This summer, Canadian women’s fashion retailer Aritzia signed a lease for 46,000 square feet at 555 N. Michigan Ave. for its fourth Chicago-area location. At the time of the lease signing, the deal represented the largest completed transaction on the… The post Chicago Update: While Some Tenants Have Vacated Storefronts, Other Retailers Have Expanded appeared first on Shopping Center Business.

Fashion 98
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Consumer spending grew 3.5 per cent in October, yet festive season set to be impacted as Brits plan to reduce Christmas purchases

A1 Retail

Growth of spending on utilities slowed as households started receiving discounts from the government’s Energy Bills Support Scheme. Hospitality & leisure struggled as Brits cut back on discretionary spending and rail strikes dissuaded many from drinking and dining out. Barclaycard’s “insperience” index, including digital subscriptions and takeaways, saw its strongest growth in 2022, as Brits spent more evenings in.

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Panera Targets Urban Markets With Downsized Cafes

VMS

Panera Bread (St. Louis) has opened its updated urban store format in New York, the latest of several new formats the fast-casual chain is targeting at more densely populated and non-traditional trade areas. With digital sales at Panera now representing 50 percent of total system sales, Panera now offers a portfolio of store formats designed to cater to the needs of an increasingly digital and off-premise guest.

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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.