Wed.Aug 17, 2022

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8 Key Ecommerce Automation Strategies That Drive Sustainable and Profitable Growth

Retail TouchPoints

It’s hard to say that 2022 has been the year of ecommerce so far. Looking at all the stats, frankly one might even say quite the opposite. According to the latest Mastercard SpendingPulse report, ecommerce transactions have declined 1.8% from a year ago, while in-store sales rose 10%. From another perspective, research showed that on average, the online share of total spending rose sharply, from 10.3% in 2019 to 14.9% at the peak of the pandemic.

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E-commerce sales fall as cost-of-living pressures hit consumers

Inside Retail

As inflation and rising interest rates start to bite and reduce consumers’ spending capacity and confidence, Australian e-commerce sales declined sharply in July. . According to new figures from global e-commerce and marketplace accelerator Pattern , online retail sales in July across Australia declined by 34 per cent compared to the same period last year.

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Lids Picks Basketball Theme for First Brick-and-Mortar Store in Australia

Retail TouchPoints

Photo courtesy of Lids. Photo courtesy of Lids. Photo courtesy of Lids. Photo courtesy of Lids. Photo courtesy of Lids. Lids is continuing its brick-and-mortar expansion with its first store in Australia, focusing on the NBA and WNBA for the Melbourne shop. The retailer is planning to open a second Australia location with a brick-and-mortar store in Sydney later in 2022.

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Western Australia gets its first Coles Local store, in Perth

Inside Retail

Coles is set to open its first Coles Local supermarket store in Perth, Western Australia, in November. The new store will be located in South Perth’s Angelo Street and will sell products from 45 suppliers unique to Coles Local, including bread and pastries from Mary Street Bakery, artisan deli goods from The Farm Margaret River, pantry items from Dirty Clean Food and convenience meals from Hail the Kale.

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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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How Kids Foot Locker Inspires Gen Alpha…from TikTok to the Metaverse

Retail TouchPoints

While many brands and retailers are focusing on engaging Gen Z, Gen Alpha is slowly creeping into the picture. Gen Alpha — consumers born after 2010 — have grown up immersed in technology. They are truly digitally omnipresent, using smartphones, social networks, gaming platforms and the metaverse to connect with each other and express their individuality.

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‘Reclaiming’ lost loyalty for high-street brands via the Metaverse

Retail Focus

Mark Zuckerberg has tongues wagging with big claims about his “Metaverse”, and while he’s since shed very little light so far on what this will entail, or how far it’s progressed, we know the aim is to create a ‘phygital’ world where people can work, play and hangout, accessed by virtual and augmented reality tools. . For the physical retail world, the thought of all this taking place within the Metaverse could seem like a real threat.

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ACCC probes consumer concerns, competition in the social-media market

Inside Retail

Australian businesses and consumers are encouraged to share their views on social media services as the Australian Competition and Consumer Commission (ACCC) prepares the sixth interim report in its Digital Platform Services Inquiry. The commission will examine various “consumer protection issues” such as the state and degree of competition in these services, trends in mergers and acquisitions by social media platforms, the use and abuse of social media services for scams and the role of adverti

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ThredUP Forges Ahead with its War on Fast Fashion Amid Cost-Cutting Initiatives

Retail TouchPoints

Resale platform ThredUP has debuted a new, light-hearted marketing ploy in its ongoing battle against “fast fashion addiction,” mere days after announcing it was joining the ranks of tech companies cutting staff amid an economic slowdown. Strong Q2 Masks Impending Slowdown. On Aug. 15 ThredUP Co-founder and CEO James Reinhart announced during a Q2 earnings call that the company would lay off approximately 15% of its corporate workforce and close its processing center in Vernon Hill, Ill.

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How to humanize your FMCG brand to bond with shoppers

Tokinomo

The FMCG sector is a competitive one. Thousands of products from hundreds of brands are displayed to the shoppers in supermarkets, grocery, and convenience stores. How can an FMCG brand remain top of mind of customers and increase its market share? By connecting with the customer.

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Shopify Debuts Creator Marketplace to Connect Influencers with Merchants

Retail TouchPoints

Shopify has launched a new platform called Shopify Collabs that makes it easier for creators to find and partner with Shopify merchants looking for marketing support. The new platform aims to do for creators — which Shopify sees as the “next generation of entrepreneurs” — what Shopify has already done for millions of SMBs: help them easily digitize and monetize their businesses.

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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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Retail appointments of the week

Inside Retail

Woolies exec Claire Peters exits, joins Amazon US. Claire Peters, Woolworths’ MD of B2B & Everyday Needs, has resigned to take up a new role with Amazon in the US. Peters joined Woolworths as MD of supermarkets in 2017, before taking on her current role in 2020. She will leave the company at the end of this year to relocate to Seattle, Washington, and take up the role of VP worldwide at Amazon Fresh.

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After ‘Pandemic Hangover,’ Rebel Green Gains Actionable Insights With Data Analytics Solution

Retail TouchPoints

When the COVID-19 pandemic hit, eco-friendly household cleaner brand Rebel Green happily grappled with a surge in overnight mainstream success as consumer demand for cleaning products skyrocketed. It was a dream come true, but Rebel Green had a rude awakening once the surge slowed. The growth spike exposed multiple inefficiencies in the company’s management of its sales and inventory data.

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Meal delivery startup ChefPrep buys Co-Lab Pantry

Inside Retail

Australian gourmet ready-meal delivery startup ChefPrep has acquired artisan food vendor Co-Lab Pantry , with the retooled venture promising to become the “Amazon for food” with next-day delivery across the country. Dubbed CoLab, the fresh face of Australia’s culinary delivery sector boasts ready-to-cook meals from more than 150 restaurants nationwide, spanning the fried chicken dishes of Sydney institution Butter, the comforting Italian fare of Salt Meats Cheese, to a slew of avant-garde Drumpl

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Target sells off excess inventory and profits drop

Retail Wire

Target moved aggressively to sell off excess inventory in the second quarter, leading to lower profits. The chain posted net income of 39 cents a share, down from $3.65 a year earlier. “While these inventory actions put significant pressure on our near-term profitability, we’re confident this was the right long-term decision in support of our guests, our team and our business,” CEO Brian Cornell said.

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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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Sneakers for all: How online marketplace Kicks Crew plans to take over the world

Inside Retail

Kicks Crew has had quite an eventful year so far. Back in March, it secured USD$6 million in Series A funding, which it will use to increase its foothold in the US market and attract talent across engineering, products, and its marketing team. For the uninitiated, Kicks Crew is an e-commerce marketplace for sneakers, apparel and accessories, and it offers over 400,000 unique styles online and ships worldwide.

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Retail sales were flat in July

Retail Wire

Total U.S. retail sales were flat in July, against a 0.8 percent increase in June, according to the Commerce Department. Retail sales minus automotive posted a 0.4 percent gain during the month.

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It’s not just wax and a wick: Ecoya CEO on the rise of home fragrance

Inside Retail

Ecoya’s new CEO Claire Barnes discusses the booming home fragrance sector, her favourite New Zealand brands and the evolution of the business. . Inside Retail : Congratulations on your new appointment as CEO at Ecoya. You’ve been at the business for 13 years. What’s it been like to watch it grow in that period of time? Claire Barnes : Thank you, it’s been fast paced and a privilege to be a part of.

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Bed Bath & Beyond shares rise on meme trading craze

Retail Wire

Investors continued to buy Bed Bath & Beyond shares with the price per unit rising 29 percent in premarket trading. The struggling retailer has seen the value of its shares rise nearly 300 percent since the beginning of August, driven by investors looking to push out hedge funds that shorted the stock.

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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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Myer bringing student projects to life with Miss Shop

Inside Retail

Department store Myer has recently launched a program giving fashion design students the opportunity to sell their products in-store. As part of the Artist Pathway Program, the retail business is working with Billy Blue College at Torrens University to guide young designers through the product design process. Five students’ pieces will be released under Myer’s Miss Shop brand in the coming months.

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TJX lowers its forecast as consumers cut discretionary spending

Retail Wire

TJX Cos, which operates HomeGoods, Marshalls and T.J. Maxx, has cut its annual earnings forecast after pointing to a slowdown in discretionary spending necessitated by rising prices. The retail chain operator expects adjusted per-share earnings of $3.05 to $3.13 in the current fiscal year, down from its guidance of $3.13 to $3.20.

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Coles CMO Lisa Ronson quits citing new career interests

Inside Retail

Lisa Ronson, chief marketing officer at Coles, has announced on Linkedin her departure from the company. . Ronson joined Coles in 2019 and worked in different sectors throughout her career including FMCG, payments, banking, retail, tourism and supermarkets. The CMO says she wants to pursue new business opportunities while also focusing on her directorships and her new position as an adjunct professor of marketing at Deakin University.

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Howard Schultz intent on crushing Starbucks unionizing efforts

Retail Wire

Howard Schultz was known as “a likable leader with a fantastic ability to relate to people” in his previous stints as Starbucks CEO. Many employees within the company now see Mr. Schultz as a divisive figure as he appears hellbent on busting up any dissent or union activity taking place in the chain’s stores.

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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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Sneakers for all: How online marketplace Kicks Crew plans to take over the world

Inside Retail

Kicks Crew has had quite an eventful year so far. Back in March, it secured USD$6 million in Series A funding, which it will use to increase its foothold in the US market and attract talent across engineering, products, and its marketing team. For the uninitiated, Kicks Crew is an e-commerce marketplace for sneakers, apparel and accessories, and it offers over 400,000 unique styles online and ships worldwide.

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Lowe’s paying bonuses to frontline workers to offset inflation

Retail Wire

Lowe’s said it is paying out $55 million in incremental bonuses to help frontline workers make ends meet during the current inflationary period. The retailer posted a decline in sales as homeowners cut back on home improvement projects as part of an overall pullback on discretionary spending.

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15 Macrame Ideas to Make and Sell

Small Biz Trends

Macrame is currently enjoying a resurgence. The knot-tying craft that was popular in the Seventies is providing tons of opportunities for crafty business owners. Part of the rise in popularity has to do with the Bohemian decor styles circulating on Pinterest and decor blogs. But it’s also a very practical craft to learn, since it mainly just involves tying rope or other fibers in unique patterns.

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Chipping Away at Game-Changing Operational Efficiency

Cisco Retail

When I’m not leading my region’s global enterprise sales team for Cisco, I can be found hanging out with my family or playing golf. And while I once threw a club (out of excitement) after sinking a birdie, I wouldn’t call myself a scratch golfer by any means. But just like work, I take my golf game seriously. Whether on the course or at the office, I’m obsessed with efficiency.

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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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What Mixed Signals Do You Send Your Customers?

Hyken

Then I read Jan Carlzon’s book, Moments of Truth, many years ago. It was one of the most powerful customer service and experience books at the time, and the content aligned perfectly with my idea of creating Moments of Magic for our customers. Carlzon’s definition of the Moment of Truth was: . Anytime a customer comes into contact with a business, however remote, they have an opportunity to form an impression. .

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Be Prepared for an Emergency with a Portable Power Station

Small Biz Trends

Do not let power disruption or the wilderness stop you from accessing your essential devices. Just like batteries, a portable power station will provide you with electric power whenever you need it. Some of the modern power stations carry a high electrical capacity, are lightweight, and can also charge them using solar, EV station charging, and wall outlets, among many other ways.

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How to Use Inventory Management to Increase ROI for Your Small Business

National Retail Solutions

What is Inventory Management? Inventory management is when a business owner controls the amount of merchandise in-store and online. There are several factors to remember while tracking inventory, such as keeping hot-selling items on hand, avoiding over-ordering, and determining when to put products on clearance or markdown. Business owners may[.]. The post How to Use Inventory Management to Increase ROI for Your Small Business appeared first on National Retail Solutions.

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22 Small Business Ideas for Men in 2022

Small Biz Trends

There are a lot of opportunities for men who are looking to start their own businesses and earn extra cash or gain financial freedom in 2022. The business ideas for men in this article are some of the most promising opportunities available. We’ll talk about home inspection, event planning, and more. So if you’re thinking about becoming your own boss, read on!

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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.