Wed.Sep 13, 2023

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Silly Solly’s plans 10 more stores as it moves to franchise model

Inside Retail

Aussie discount retailer Silly Solly is on a growth trajectory, with plans to expand as a franchise, after shifting from a licensing model. Media spokesperson Solly Stanton told Franchise Executives, “We were a licence agreement and have progressively changed to a franchise model. This offers our store owners more protection and the opportunity to resell their business.

Planning 298
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As Advertisers Shift Budgets into Retail Media, IAB Releases Measurement Standards

Retail TouchPoints

The Interactive Advertising Bureau (IAB) has released a preliminary framework to standardize retail media measurement. The framework was developed in collaboration with the Media Rating Council (MRC) as well as 55 companies with a stake in the performance of retail media, including The Mars Agency , Albertsons Media Collective , Google , Unilever U.S. , Criteo , Best Buy Ads , Kroger Precision Marketing , Target , Vibenomics and Colgate-Palmolive.

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Myer sees elevated annual sales, but is cautious amid economic headwinds

Inside Retail

Department store chain Myer delivered its highest full-year sales since 2005 this year but remains cautious as consumer spending declines due to unfavourable economic conditions. Myer’s total sales grew 12.2 per cent to $3.36 billion in FY23. This reflects the scale of its online business – which had a revenue of $691 million, representing 20.5 per cent of total sales – and a 10 per cent increase in productivity gains at physical stores.

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Fanatics Names Opendoor, GoDaddy Veteran as New Commerce CEO

Retail TouchPoints

Fanatics has appointed Andrew Low Ah Kee as CEO of Fanatics Commerce, the company’s largest business unit, effective immediately. Low Ah Kee is replacing former Fanatics Commerce CEO Doug Mack, who announced his retirement last month, and will report to Michael Rubin, Chairman and CEO of Fanatics. Mack will stay on through the rest of this year to ensure a smooth transition and will continue as a special advisor to Rubin and Fanatics in the future.

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The Pragmatic Guide to Composability

Be empowered to master the digital landscape and implement modular and adaptable composable technologies. Authored by Orium, The Pragmatic Guide to Composability takes readers on a journey from composable’s beginnings to common misconceptions about the approach, then concludes with strategies for choosing implementations that result in quick wins to grow your ROI.

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Guzman y Gomez reveals $759 million revenue, 30-store plan

Inside Retail

Guzyman y Gomez founder Steven Marks has revealed a revenue of $759 million in the 2023 financial year, a lift of 32 per cent on the previous year. Underlying earnings rocketed 56 per cent to $32 million in what Marks described as “a phenomenal year” GYG reported the median weekly average unit volumes for a drive-thru restaurant was $106,000.

Planning 278
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How Speeding up Chargeback Resolutions can Boost Retailers’ Profits

Retail TouchPoints

Commerce is expanding rapidly, especially within the retail sector. Recent data shows that overall U.S. retail sales have increased 8.8% year-on-year, with ecommerce specifically up 8.4%. However, challenges are inevitable, despite the resilient consumer spending we’ve seen earlier in the year. For example, purchase confusion can arise (and does) when a customer sees unfamiliar names or references on bank statements.

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Business Intelligence: The Untapped Potential of Foot Traffic Analysis

Wiser

Understanding the dynamics of your business is crucial for its success. One effective way to gain valuable insights is by measuring foot traffic, a metric that offers a wealth of information about your physical store’s performance and customer behavior. Foot traffic data can be a game-changer for your business. It allows you to analyze peak shopping times, assess the effectiveness of your marketing campaigns, and understand how customers move within your store.

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“Doing nothing wasn’t an option”: M.J. Bale CEO Matt Jensen

Inside Retail

M.J. Bale director and designer Matt Jensen says the brand takes on the challenge of evolving with the market while honouring the pillars of the business. Here, he discusses how menswear has changed over the years, juggling creative and business responsibilities, the brand’s commitment to sustainability, and what’s in the works for the future. Inside Retail : Can you discuss the circumstances leading up to the creation of M.J.

Fashion 260
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GoodwillFinds Online Platform Now Serving More Than 500 Goodwill Stores

Retail Wire

GoodwillFinds, an e-commerce platform launched last year to facilitate online sales for Goodwill stores, has expanded its reach by adding four new regional members: Tacoma, Kansas, Miami, and Indianapolis. This expansion brings the platform’s coverage to over 500 individual Goodwill stores. The platform, created by a group of Goodwill members, allows stores to directly engage.

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Sotto heads to the US with NYFW debut 

Inside Retail

Sydney-based womenswear label Sotto Brand has made its debut at New York Fashion Week with its SS24 collections, eyeing global expansion. The show also introduced Sotto Brand’s first venture into footwear and accessories. The company said the debut at NYFW kicked off the brand’s expansion strategy and helped the brand further grow its global presence.

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Innovation Fest: Summer of AI

Join Bloomreach at Innovation Fest: Summer 2024, a virtual event, to explore the future of personalized marketing and merchandising! Along with the company’s top product experts, CEO Raj De Datta will provide an exclusive look at the company’s latest AI innovations reshaping the omnichannel experience. Don’t miss out on this exciting opportunity to connect with fellow industry leaders and explore the latest trends in retail technology.

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eBay Launches Consignment Offering for Luxury Fashion Sellers

Retail Wire

eBay is stepping into the consignment market for luxury fashion, aiming to rival platforms like The RealReal and ThredUp. Partnering with experienced seller Linda Lightman of Linda’s Stuff, eBay’s new service will initially focus on designer handbags from brands such as Chanel and Louis Vuitton. This move complements eBay’s recent efforts to enhance its authenticity.

Fashion 113
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LSKD launches store on wheels 

Inside Retail

Australian sportswear brand LSKD has unveiled its BAF (Big As F*ck) double-decker bus, with its ‘Chase The Vibe Tour’ set to launch later this month. The double-decker vehicle, which began life as ‘The Love Bus’ in Byron Bay, has been revived and outfitted for functional exercises, exclusive product shopping, and recovery sessions, with air conditioning, couches, massage guns, and recovery drinks.

Outdoor 237
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Coke’s Latest Mystery Flavor Is Here. It’s Created by AI

Retail Wire

Coca-Cola has unveiled its latest mystery flavor, Coca-Cola Y3000, with a futuristic theme aiming to appeal to younger consumers. This limited-edition beverage, created through the company’s Creations platform, uses artificial intelligence to determine both the flavor and packaging. The AI-generated images for the packaging design, resembling a Y2K aesthetic, and the inclusion of a QR.

Consumer 113
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Apple vs Huawei: a new smartphone battle divides China

Inside Retail

Apple’s iPhone 15 drew mixed reactions in its third largest market of China on Wednesday, with many online users liking its faster chip and improved gaming capabilities while others preferred Huawei’s new smartphone. China remains key for the US tech giant, which unveiled its new iPhone lineup on Tuesday. The company occupies a leading position in China’s premium smartphone market, in part due to the decimation of Huawei Technologies’ smartphone business by US export cont

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From Concept to Deployment: Building Commerce Storefronts with Composable UI

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BREAKING: The Range buys Wilko brand for £5m

Retail Gazette

The Range is understood to have bought Wilko’s brand in a deal worth around £5m. Sky News revealed that the deal is set to be confirmed by Wilko administrator PwC later today. The Range, set up by Devon-based entrepreneur Chris Dawson, had faced competition from online marketplace OnBuy to snap up Wilko’s brand assets. The deal could see the Wilko name live on as The Range could sell Wilko-branded goods in stores and could also trade under the name online.

Shopping 136
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Birkenstock plans to go public in the US

Inside Retail

German sandal maker Birkenstock has filed for an initial public offering (IPO) in the US, following the footsteps of British chipmaker Arm to become the second European giant seeking a foreign listing this month. Financial details of the filing were not disclosed, but some sources reported that the company is targeting a valuation of more than $8 billion.

Planning 130
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Parents Are Using Target’s Unusually Generous Returns Policy To Exchange Outgrown or Worn-Out Cat & Jack Kids Clothes for Cash

Retail Wire

Parents have found a money-saving trick using Target’s Cat & Jack children’s clothing line, which offers a one-year return policy. This allows parents to return outgrown, stained, or damaged clothes for a full refund or exchange, which some have taken advantage of.

Returns 100
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BP joins Woolworths NZ as foundation loyalty program partner

Inside Retail

Woolworths has announced BP as its first partner for the revamped Everyday Rewards program in New Zealand, which delivers a multi-million dollar increase in rewards from next year. The program adopts the existing one-for-one points system, which rewards shoppers one point for every dollar spent at the supermarkets. At BP, members will earn one point for every litre of fuel and dollar spent at the shop, Wildbean cafe or on BP car washes.

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Secrets of a Successful Sale: Optimizing Your Checkout Process

Speaker: David Nisbet, 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.

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Cold Pills Could Be Yanked off the Shelf. An FDA Panel Just Ruled Some of Them Don’t Work.

Retail Wire

A Food and Drug Administration (FDA) panel has unanimously ruled against the effectiveness of phenylephrine, a commonly used decongestant found in popular cold medications like Sudafed and Allegra. This decision could potentially lead to the removal of these medications from store shelves. The panel’s evaluation was prompted by recent studies suggesting that phenylephrine doesn’t outperform.

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Is end-to-endless customer service the key to the great retail renaissance?

Inside Retail

Unprecedented macroeconomic challenges have manifested a state of permanent flux in the retail industry. The pandemic, geopolitical tensions, climate change and cost-of-living crisis have all redefined consumer behaviours. For resilience in these new waters, retailers must reshape conventional thinking and rekindle the essence of customer service. We are at the nexus of digital innovation and human-centred values.

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Criteo Sees a $42 Billion Opportunity From Retail Media, but Must Solve a Challenge That Could Cut Those Revenues by 20%

Retail Wire

Criteo, a leading adtech company, is targeting a $42 billion share of the rapidly growing retail media market, projected to be worth $110 billion in 2023. However, the challenge lies in overcoming fragmentation, where advertisers need to buy from individual retailers, potentially causing a 20% drop in retail media revenues. To address this, Criteo has.

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Apple ditches leather as part of ‘net zero by 2030’ target

Retail Gazette

Apple is to ditch the use of leather in all of its accessories in an effort to meet its ‘net zero by 2030’ goal. The tech giant will replace the animal-made material in its watch straps and phone cases with a 68% recycled textile called ‘FineWoven’. Apple vice president for environment Lisa Jackson said: “Leather is a popular material for accessories, but it has a significant carbon footprint, especially at Apple’s scale.

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Get MACH Ready with Orium, Commercetools, and Contentstack

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Walmart Customers either Hate or Love the Chain’s New Shopping Carts. We Tried One Out, and It’s Clear Why They Are So Polarizing.

Retail Wire

Walmart’s newly designed shopping carts, featuring a cupholder and slot for a phone or grocery list, have garnered mixed reactions from shoppers. Some praise the additions, while others find the taller design uncomfortable, particularly for shorter customers. The carts, rolling out at Walmart stores across the U.S. over the past two years, maintain similar width.

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Ex-finance bosses face fraud charges over collapse of Patisserie Valerie

Retail Gazette

Two former Patisserie Valerie finance bosses are among four individuals that have been charged in relation to the bakery chain’s abrupt collapse in 2018. The charges are connected to an investigation that began two days after the bakery chain suspended trading in October that year, the Serious Fraud Office (SFO) said. Among those facing charges is the company’s former chief financial officer Christopher Marsh, his wife Louise, financial controller Pritesh Mistry as well as financial consul

Finance 111
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The Rise and Fall of Birchbox, the Once-Buzzy Startup That Was Sold off Twice in 2 Years and Has Recently Resumed Shipping Boxes

Retail Wire

Birchbox, the pioneer of monthly beauty subscription boxes, has made a comeback after a series of challenges, including being sold off twice in recent years. Once valued at nearly $500 million, the brand was acquired in 2021 for just $45 million. After a period of dormancy, it recently resumed shipping boxes, but some customers have.

Shipping 100
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The Entertainer hires John Lewis COO as new boss

Retail Gazette

The Entertainer has snapped up outgoing John Lewis Partnership COO Andrew Murphy as its new chief executive. Murphy, who resigned from John Lewis Partnership last year after 30 years at the retailer, will join The Entertainer in mid-October. He replaces Mark Campbell who left the toy retailer this summer. He said: “My time with The John Lewis Partnership comes to an end in the next few weeks.

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How Retailers Are Transforming Customer Experiences with Data & 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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Tech Transformation Podcast: Kimberly-Clark’s Jeannette Chantalat On New KPIs for Sustainable Innovation

RIS News

Learn how Kimberly-Clark is using their vast reach to understand consumers at very local levels — and then marrying it with technology to meet consumer needs in new and more sustainable ways.

Consumer 103
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Wilko: A cautionary tale for retail – and the high street

Retail Gazette

After many twists and turns, the Wilko story came to a sad conclusion this week when it emerged that no white knight would save the retailer. It was confirmed that all 400 Wilko stores would close – although B&M and Poundland have now snapped up more than 120 shops between them – and 12,500 jobs would be lost as the value chain became one of the biggest high street casualties of the 21st century.

Shopping 105
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Amazon Taps AI to Expand Sellers’ Ecosystem and Supply Chain Capabilities

RIS News

Amazon is building out its supply chain services for sellers, offering merchants the ability to distribute products from its warehouses to physical stores and fulfillment centers.

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Primark owner calls for tougher enforcement on shoplifting

Retail Gazette

Judges need to toughen enforcement on shoplifting to tackle the rise in thefts across Britain, the owner of Primark has said. Associated British Foods chief executive George Weston revealed the fashion retailer was experiencing a record number of shoplifting cases and assaults on workers. He explained Primark was introducing body cameras for staff, and increasing its CCTV and security guards to tackle the issue.

Fashion 105
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From Data to Decisions: Maximizing Retail Potential With AI

Discover how retailers are transforming data into actionable insights for growth. By leveraging data and analytics to their potential, retailers can enhance decision-making, improve customer experiences, and streamline operations to stay ahead of the competition. From Data to Decisions: Maximizing Retail Potential With AI, authored by Orium, commercetools, and Google Cloud, demonstrates how businesses can unify and activate data across the tech stack to achieve retail excellence and create growt