Inside Retail

FEBRUARY 27, 2024

The median gender pay gap in the retail trade sector is 7.1 per cent – significantly lower than the national industry-wide median of 19 per cent. The majority of Australian employers engaged in retail trade have a policy for equal remuneration, according to Workplace Gender Equality Agency (WGEA) data. Since the passage of the Workplace Gender Equality Act 2012, employers with 100 or more employees have been required to submit an annual report to the WGEA containing remuneration information.

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Retail TouchPoints

FEBRUARY 27, 2024

Macy’s, Inc. has unveiled its Bold New Chapter strategy, signaling a major shift for the iconic department store retailer. Macy’s plans to close 150 underproductive nameplate stores — approximately 50 this year alone — and continue its expansion of smaller-format stores as it prioritizes investment in about 350 go-forward locations. Additionally, noting that its luxury banners have been outperforming other divisions, Macy’s will open about 15 Bloomingdale’s stores and at least 30 new Bluemercury

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Inside Retail

FEBRUARY 27, 2024

Footwear business Accent Group has revealed it will end its franchise model for The Athlete’s Foot brand within five years and will not renew franchise agreements at their expiry. The multi-brand business reports its ongoing franchise acquisition strategy “has driven significant operational efficiency and growth for the business over the last six years”.

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Retail Wire

FEBRUARY 27, 2024

In a bid to rejuvenate its brand amidst shifting consumer preferences, Macy’s is undergoing a significant makeover with 150 stores set to close.

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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.

Checkout

Retail TouchPoints

FEBRUARY 27, 2024

In the last several years, retailers have increased the speed with which they have built online and mobile app presence. With this evolution into digital sales and the increased use of data mining, retailers are facing unprecedented challenges in digital security. Cyberattacks and network outages can disrupt operations and erode customer loyalty. This article delves into the evolving threat landscape, examining the impact of these disruptions on retail operations and exploring proactive measures

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Retail Wire

FEBRUARY 27, 2024

Bloomin' Brands is closing 41 of its eateries due to loss in profits and costly improvements.

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Retail Wire

FEBRUARY 27, 2024

Kellogg's CEO, Gary Pilnick, recently suggested a thrifty solution to combat soaring grocery bills: eat cereal for dinner. During an interview with CNBC, Pilnick emphasized the affordability of cereal compared to other meal options, noting its suitability for cash-strapped consumers.

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Retail TouchPoints

FEBRUARY 27, 2024

The non-alcoholic beverage (NA) market is projected to reach $176.7 billion in 2024. With a compound annual growth rate of about 25% , this category is poised to reach $426.2 billion in revenue by 2028. Big name alcoholic beverage players such as Anheuser-Busch and Diageo will be fighting to get a piece of this pie by bringing new products to market, especially with U.S. wine and beer sales declining and spirit sales barely seeing growth.

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Retail Wire

FEBRUARY 27, 2024

To celebrate Leap Day this year, Krispy Kreme has something sweet in store for its customers.

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Retail TouchPoints

FEBRUARY 27, 2024

Digital Brands Group, Inc. (DBG), which has a portfolio of luxury lifestyle brands such as Bailey 44, DSTLD and Sundry , plans to open its first retail store in Dallas. Located at the Simon Premium Outlet Mall in the Dallas suburb of Allen, Texas, DBG will use the store to clear excess inventory it acquired with its Sundry acquisition, which was completed January 2023.

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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.

Management

Retail Focus

FEBRUARY 27, 2024

With retailers removing best-before dates to reduce food waste, UK consumers still want supermarkets to offer discounts on goods nearing expiry, according to the latest data from Retail Insight , the leading provider of store operations execution software. With WRAP estimating the UK retail sector was responsible for 200,000 tonnes of food waste last year, supermarkets including Asda, Tesco, Sainsbury’s and Waitrose have already opted to remove best-before dates from fresh fruit and veg in a bid

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Retail TouchPoints

FEBRUARY 27, 2024

Wawa has launched Goose Media Network, the c-store chain’s retail media network (RMN), to give brands the opportunity to reach Wawa customers online as well as via the mobile app and videos played at the gas pump. Wawa worked with Publicis Groupe’s Publicis Sapient , Epsilon and CitrusAd to create the new offering. “Goose Media Network elevates convenience by delivering offers to customers right where they shop and allows us to build new connections with our customers and partners’ brands,” said

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Retail Focus

FEBRUARY 27, 2024

Asian grocery store, Tian Tian Market , which opened in Wembley Park earlier this month (February 2024), has reported a 30% surge in foot traffic over the Lunar New Year weekend, compared to average weekday figures. Tian Tian signed a 15-year lease with Quintain for the 4,268 sq. ft unit and has enjoyed footfall exceeding all expectations for the entire month of February.

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Retail TouchPoints

FEBRUARY 27, 2024

Olfactory NYC has ventured inside the Beltway for its latest store, which will open in April. The brand, founded in 2017, has three stores in New York City and one in Boston. The Olfactory NYC store experience is designed to eliminate the guesswork behind choosing — or even creating — a signature scent. When visiting a studio, customers can smell and select from nine core gender-neutral fragrances that they can then further customize to their wants and preferences.

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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.

Customer Experience

Retail Focus

FEBRUARY 27, 2024

Pricer , a global leader of in-store automation and communication solutions, has today announced a strategic partnership with PaperShell , a high performance material innovation, in a move towards including more sustainable materials within Pricer’s Electronic Shelf Labels (ESLs). With original research of over 1,000 shoppers by Pricer showing that despite the cost-of-living crisis, 53% of consumers and 66% of Gen Z are now sustainably minded when shopping, meeting customers’ sustained demands

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Retail Wire

FEBRUARY 27, 2024

Online retailer SHEIN is scoping out the option of moving its initial public offering to London instead of New York due to challenges related to the listing in the U.S.

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Inside Retail

FEBRUARY 27, 2024

Ikea Australia has launched Ikea Kreativ, a free mixed-reality experience powered by AI that provides customers with a simple and intuitive method to design and rethink their living environments. Customers can use Ikea Kreativ to scan their living space, remove some or all of the current furnishings, then drag and drop Ikea furniture and home decor to experiment with new styling options.

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Retail Wire

FEBRUARY 27, 2024

Boeing, a well-known name in aviation, faces a critical evaluation from a recent report commissioned by the Federal Aviation Administration (FAA). Released on Monday, the report highlights substantial shortcomings in Boeing's safety culture, indicating a profound need for significant improvements.

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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.

Point of Sale

Inside Retail

FEBRUARY 27, 2024

Bayfair Shopping Centre has been at the forefront of sustainability efforts in New Zealand for the last two decades. Now, the retail hub has been certified with a four-star green performance rating by the New Zealand Green Building Council and, in turn, become New Zealand’s most sustainable shopping centre. One of the key initiatives that warranted the centre’s green-star rating was its innovative waste management system, which diverts 56 per cent of waste from its 440-seat food court away from

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Retail Wire

FEBRUARY 27, 2024

Apple is reportedly winding down its electric car project, Special Projects Group, marking the end of the company's ambitious attempt to develop an EV to rival Tesla.

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Inside Retail

FEBRUARY 27, 2024

The latest findings from the British Retail Consortium (BRC) cast a stark light on the escalating crisis of retail crime in the UK, painting a sobering picture of its impact on both businesses and communities. According to the BRC’s recent press release , incidents of retail crime have surged to alarming levels, with a myriad of offences ranging from theft and fraud to violence and organised crime.

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Retail Wire

FEBRUARY 27, 2024

Netflix customers who pay through Apple's App Store could soon be directed to change their payment method to prevent losing access to their account on the platform.

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Accounting 130

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

Management

Inside Retail

FEBRUARY 27, 2024

This week, Macy’s announced plans to shut down 150 “underproductive” stores, more than one-fifth of its department store assemblage, over the next three years. This also includes Macy’s San Francisco flagship in Union Square, a 400,000-square-foot property that has been one of the city’s iconic storefronts since its opening in 1947. The closures are a part of the retailer’s plan “to create a more modern Macy’s, Inc. that is expected to generate meaningful value for our shareholders in the

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Retail Wire

FEBRUARY 27, 2024

Travel giant Expedia is cutting 1,500 jobs, or roughly 9% of its workforce, throughout this year as it invests in the company's growth.

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Retail Gazette

FEBRUARY 27, 2024

Homebase racked up heavy losses last year, as it claimed customers had been “cautious” with their spending. The business reported an £84m loss in the year to January 2023, from a profit of £30m the year prior, according to accounts viewed by The Times. Sales also plummeted from £788m to £701m during the period. Describing 2022-23 as a “challenging year for Homebase and retail,” the retailer said: “Customers were cautious in their spending, our costs increased signif

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Retail Wire

FEBRUARY 27, 2024

Shares of Lowe's have seen an uptick following the release of its fourth-quarter report.

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Marketing 130

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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 Gazette

FEBRUARY 27, 2024

Shop price inflation dropped for the second consecutive month in February, hitting its lowest point of annual growth since March 2022. The latest BRC-NielsenIQ Shop Price Index found annual shop prices were down to 2.5% for the month, compared to 2.9% in January, putting them under the three-month average of 3.3%. Food inflation slipped 5.5% in February, compared to 6.1% in January, marking the tenth consecutive monthly drop in the category.

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365 Retail

FEBRUARY 27, 2024

The Retail Technology Show (RTS), the leading industry event that connects retail’s changemakers and leading tech innovators, has announced that Holly Tucker MBE, Founder of Holly & Co and Not On The High Street, will deliver a keynote session as part of its trailblazing 2024 conference programme. Taking place at London Olympia on the 24 and 25 April 2024, RTS is retail’s flagship event that brings the sector’s sharpest minds and leading luminaries to the stage.

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Retail Gazette

FEBRUARY 27, 2024

Homebase is up for sale for the second time within four years, with discussions recently being held with various potential buyers. Restructuring company Hilco Capital, which purchased Homebase for £1 in 2018, is thought to have been involved in talks with various parties, such as B&M European Value Retail and The Range. Insiders have indicated the home improvement company’s intellectual property, brand name, and UK and Ireland stores could be broken up and sold by its new owners.

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Shopping Center

FEBRUARY 27, 2024

New York City — Macy’s Inc. (NYSE: M) has announced plans to close 150 of its namesake department stores over the next three years. According to the retail giant, these stores… The post Macy’s to Close 150 Namesake Stores, Open More Bluemercury and Bloomingdale’s Stores appeared first on Shopping Center Business.

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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

Customer Experience