Retail TouchPoints
MARCH 2, 2023
When Ebay debuted in 1995, it and Amazon were pretty much the only game in town. Fast forward 28 years and Amazon and Ebay are still the two largest marketplaces in the U.S. — albeit in a vastly more crowded landscape. Not only have a slew of new marketplaces launched, but big-name retailers like Walmart , Target and most recently Michaels are adding their own marketplaces.
Inside Retail
MARCH 2, 2023
Australian CBD retail vacancy rates showed a “lagged recovery” in the second half, and business confidence is running high, according to new CBRE data. The realtor assessed 5347 retail outlets across Sydney, Melbourne, Brisbane, Perth and Adelaide and found that retail vacancy rates have tightened by 13.9 per cent. CBRE’s Australian head of retail research, Kate Bailey, said that despite “heightened cost of living pressures”, there was a “healthy level” of discretionary spending during the secon
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Retail TouchPoints
MARCH 2, 2023
The world’s supply chains are under attack, and the vendors that organizations rely on could be the weakest link when it comes to protecting confidential information from falling into the hands of cybercriminals. An October 2022 report from BlackBerry Limited highlighted how extensive the threat to supply chains has become. BlackBerry found that 80% of organizations said they “received notification of attack or vulnerability” in their supply chain during the past year.
Inside Retail
MARCH 2, 2023
Retail Food Group is to raise $47.4 million in debt and equity capital to help fund expansion and strengthen its balance sheet. The company says it has already received commitments to $24.9 million via a share placement and secured a $20 million debt facility with Washington H Soul Pattinson and Co. RFG executive chairman Peter George said the capital raising and new debt facility will enable the company to “reset and strengthen its balance sheet” allowing it to pursue core business and inorgani
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
MARCH 2, 2023
SaksOff5th.com CEO Paige Thomas has left the company to pursue other opportunities, a company spokesperson has confirmed. Thomas has led the brand as President and CEO since February 2020, including through the spinoff of Saks Off 5th ’s ecommerce operations in June 2021. Rob Brooks, who was tapped to lead the Saks Off 5th store business (called O5 ) at the time of the spinoff, will take over the role of CEO of SaksOff5th.com, effective immediately.
Retail Wire
MARCH 2, 2023
A federal administrative judge has ordered Starbucks to reopen closed stores and to reimburse back pay and pay damages to employees who lost jobs due to union organizing. Judge Michael A. Rosas wrote that Starbucks acted with “a general disregard for the employees’ fundamental rights” as guaranteed under federal labor law. Starbucks spokesman Andrew Trull said the company disagreed with the ruling and is considering “all options to obtain further legal review.
Experience Retail Today brings together the best content for retail owners from the widest variety of industry thought leaders.
Inside Retail
MARCH 2, 2023
Major US retailers including Best Buy, Walmart and Amazon are increasing their offerings of healthcare and health-related products as inflation-wary Americans shift more of their budgets to services and away from goods. Electronics retailer Best Buy recently kicked off a partnership with Atrium Health, part of Advocate Health, one of the country’s largest nonprofit hospital systems, Best Buy Chief Executive Officer Corie Sue Barry announced Thursday on a call with analysts.
Retail TouchPoints
MARCH 2, 2023
Engage3 aims to help retailers grow revenue and drive store trips by tracking and optimizing their price image through the Omnichannel Intelligence module, part of the Price Image Management suite. The Engage3 Omnichannel Intelligence module was created to combine omnichannel data, machine learning-powered item linking, competitive intelligence reporting and price image elasticity models to help brands monitor and improve omnichannel performance.
Inside Retail
MARCH 2, 2023
Ikea has joined up with Canopy to keep the world’s ancient and endangered forests out of the viscose supply chain for home textiles. Ikea is reaffirming its commitment to the world’s forests by joining the CanopyStyle program and buying viscose for home textiles solely from suppliers who received the top score in Canopy’s Hot Button Report.
Retail TouchPoints
MARCH 2, 2023
A surprise loss in Q4 2022 put Kohl’s newly confirmed CEO Toms Kingsbury in the hot seat as the company continues to grapple with declining sales and pressure from activist investors. Steep discounts lead a more than 10 percentage point decline in Q4 gross margins to 23% , with net sales down 7.2% and comparable store sales down 6.6%. Digital sales, which made up 37% of total sales in Q4, also declined 12% year-over-year.
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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.
Retail Wire
MARCH 2, 2023
Apple has held up approval of an app that uses OpenAI’s ChatGPT chatbot to automate email writing. The tech giant wants an age restriction to prevent kids 17 and younger from sending inappropriate emails.
Inside Retail
MARCH 2, 2023
Sexual wellness company Lovehoney Group’s Australasian director Rob Godwin will step down from his role, effective April 2. Godwin founded the company in 2013 and was instrumental in growing the business overseas, leading to double-digit growth during the pandemic when demand soared. In August 2021, the company merged with Germany’s WOW Tech Group and combined a strong portfolio of brands, such as Fifty Shades of Grey, Happy Rabbit, Womanizer, We-Vibe, and Arcwave, as well as Swiss retailer Amor
Retail Wire
MARCH 2, 2023
Sales of legal cannabis last year fell 8.3 percent in California, 20 percent in Colorado and eight percent in Washington as consumers cut back because of inflation.
Inside Retail
MARCH 2, 2023
Adrian Norris is not only the co-founder and CEO of Aje, a hugely popular and growing Australian fashion brand, he’s also the founder of Ikkari , a holistic wellness brand that just launched this month. For most people, running one business is hard enough, so how does Norris handle two? We recently caught up with him to find out how he manages his time.
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.
Retail Wire
MARCH 2, 2023
Amazon.com in April began adding a $5 fuel surcharge on third-party merchants who used its fulfillment services when gas prices spiked following Russia’s unprovoked attack on Ukraine. The company ended the surcharge as gas prices dropped, but has since increased its standard fulfillment rates for marketplace sellers.
Inside Retail
MARCH 2, 2023
Last December, Garrett Popcorn opened its ninth store in Malaysia. Located in Aeon Mall in Johor’s Tebrau City, the store was unveiled just in time for the year-end holiday season, and there was plenty for the brand to celebrate, according to Cindy Geskin, the president and CEO of Southeast Asia and China for Garrett Popcorn Shops. “I’d be remiss to talk about 2023 without mentioning how well our brand recovered and expanded in 2022.
Retail Wire
MARCH 2, 2023
Best Buy was one of the biggest beneficiaries of the work and study-from-home phenomena that resulted from COVID-related shutdowns in 2020 and 2021. The consumer electronics retailer saw its sales take a step back in 2022 and expects another decline this year.
Inside Retail
MARCH 2, 2023
Coco Republic appoints lead director to power US expansion By Dean Blake Homewares brand Coco Republic has appointed former president and CEO of H&M North America Daniel Kulle as its Lead Director. Kulle, brings 30 years of experience in the retail industry, and has expertise in leading global brands’ international expansion, having held executive positions in a number of retailers: most recently as CEO of Forever 21.
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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.
Retail Wire
MARCH 2, 2023
Kroger Co. expects adjusted earnings per share of between $4.45 and $4.60 for the 2023 fiscal year, well above the Wall Street consensus of $4.20. The grocery giant expects same-store sales, excluding fuel, to increase between one and two percent, below analysts’ estimate of 2.23 percent.
Inside Retail
MARCH 2, 2023
Retailers are constantly on the lookout for cutting edge technologies that improve efficiencies and productivity, streamline operations and improve the customer experience. One such advancement is the development of Autonomous Mobile Robots (AMRs), which have been implemented by a range of companies – including Catch, Toys R Us , and a number of other retailers – for task enhancements ranging from inventory management, order fulfilment, delivery and customer service.
Retail Wire
MARCH 2, 2023
American Eagle Outfitters has affixed a mezuzah, a parchment inscribed with religious texts in a metal box as a sign of Jewish faith, to the front door of its store in New York’s Times Square. The retailer’s CEO, Jay Schottenstein, is a Jewish philanthropist whose family has donated tens of millions of dollars to Jewish groups.
Inside Retail
MARCH 2, 2023
In the past, taking time out from your career was seen as a career derailer; however, it can be an asset with some planning and focus. There are many reasons people take a career break, whether it be raising a child, caring for an elderly parent, recovering from illness or needing space after an intensive work project. Whatever the reason, it’s a perfect time to reassess your career, take stock, and decide what you need to shift or change to step ahead.
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 Wire
MARCH 2, 2023
Macy’s reported better-than-expected revenues for the holiday quarter as it ramped up promotions to turn merchandise and reduce inventory. The department store retailer discounted merchandise but remained mindful of its profit margins. “[We] took strategic markdowns and intentionally did not chase unprofitable sales,” said CEO Jeff Gennette.
Inside Retail
MARCH 2, 2023
Located in the rapidly growing Moreton Bay region, MKT Square’s stage two master-planned multi-million-dollar transformation is nearing completion, offering retail and hospitality operators far and wide the opportunity to be part of the growing market. With a bustling market square at its centre, the energetic retail hub for locals and must-stop for passersby will boast a new full-line 3850sqm market-style Coles supermarket, a modern designed Coles precinct, new specialty stores, and internal an
Retail Dive
MARCH 2, 2023
CEO Jeff Gennette also said the retailer has closed its most unprofitable mall stores and that 99% of its mall base is now profitable.
Hunton Andrews Kurth
MARCH 2, 2023
The FTC has announced the next step in its ongoing review of the “Green Guides.” According to the FTC’s most recent announcement, it is zeroing-in on “recyclable” claims and will be hosting a workshop titled “ Talking Trash at the FTC: Recyclable Claims and the Green Guides.” During the workshop, panelists will discuss the kinds of recyclable claims that consumers see in the marketplace, how they perceive or interpret those claims, and the current state of recycling in the U.S.
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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 Dive
MARCH 2, 2023
Bill Wafford, who also served as chief financial officer at J.C. Penney and The Vitamin Shoppe, is joining the company in the midst of its turnaround plan.
365 Retail
MARCH 2, 2023
A recent analysis by social media specialists Maybe* has revealed that Aldi was the most engaging supermarket on social media for Pancake Day. According to the report, the discounter’s Instagram recipe reel on caramel protein pancakes gained an impressive 247,000 views and nearly 2,700 likes, while two of its other pancake-related reels secured almost 350,000 views between them.
Retail Dive
MARCH 2, 2023
The electronics retailer is also remodeling stores to its experiential format and opening 10 outlets.
365 Retail
MARCH 2, 2023
The retail sector is fighting hard to survive thanks to the knock-on effects of the covid pandemic and now the cost-of-living crisis. The economic uncertainty is creating a great deal of pressure on high-street firms, which is why the time is right to invest in technology. Why Invest In Technology Now? By investing in technology, bricks and mortar businesses give themselves the best possible chance to survive and even thrive during these economically turbulent times, by encouraging repeat stor
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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