Retail TouchPoints
MAY 18, 2021
The days of poorly lit dispensaries with dusty shelves stocked with rolling papers, tie-dyed T-shirts and patchouli incense are over. The new 21st-century cannabis boutiques are taking a page from lifestyle aspirational brands, such as RH and Tiffany & Co. , with Instagram-worthy interiors that are driving up neighborhood property values and attracting luxury consumers.
Inside Retail
MAY 18, 2021
Australian discount department store business Best & Less plans to raise about $72.3 million through an initial public offering at $2.15 a share, according to a term sheet that was sent to potential investors this week. The retailer aims to list on the Australian Securities Exchange (ASX) in mid-June with a market capitalisation of $271.2 million, or four times its pro forma forecast EBITDA for the 2021 calendar year.
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Retail TouchPoints
MAY 18, 2021
Telia — a telecommunications company in the Nordic and Baltic states — is piloting a new self-service store model in Tartu, Estonia, as it looks for cost-effective ways to serve customers in regions where full-service offices aren’t in place. Developed in partnership with Estonian technology company Cleveron , the pilot will run through mid-August. Customers will be able to replace telecom devices such digital TV tuners, SIM cards and telephones, purchase new ones and pick up ordered goods at th
Inside Retail
MAY 18, 2021
Seven months after Kathmandu’s long-time group chief executive Xavier Simonet resigned , the outdoor fashion business has announced his replacement: RipCurl CEO Michael Daly. Daly has led RipCurl for the last eight years, according to chairman David Kirk, who said the group is confident he will bring a relentless focus on brand, product, people and the bottom line, as he did at RipCurl.
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
MAY 18, 2021
Jill Standish, Accenture. COVID-19 undoubtedly convinced a large number of ecommerce “virgins” to make their very first online purchase, but it’s likely much of the dramatic growth seen over the past year came from infrequent ecommerce users — those that had used online channels for less than 25% of their purchases prior to the pandemic. This group increased their online purchases by nearly 3.5X ( 343% ), according to a new global survey of more than 9,650 consumers in 19 countries conducted by
Inside Retail
MAY 18, 2021
Before Julie Mathers sold her eco-friendly e-commerce business Flora & Fauna to beauty giant BWX , she came first in Inside Retail’s Top 50 People in E-Commerce in 2021. We recently asked last year’s number one, Mark Teperson , then chief digital officer at Accent Group, and now chief strategy officer at Afterpay, to interview Mathers about her views on leadership, running a responsible business and the magic of retail.
Experience Retail Today brings together the best content for retail owners from the widest variety of industry thought leaders.
Inside Retail
MAY 18, 2021
Former design lead at Scentre Group, Reid Nakou, has joined the team at independent retail strategy agency, The General Store, taking on the role of head of retail and design. “Reid is a powerhouse strategic thinker and a world-class creative leader. His passion for bringing the future of retail to life for customers is something our clients are going to absolutely love,” Danny Lattouf, The General Store’s partner and chief strategy officer, said in a statement.
Retail TouchPoints
MAY 18, 2021
Retailers across the spectrum posted exceptional results in the latest quarter as U.S. consumers continued shopping online at record levels, including preparing for the end of quarantine with more apparel purchases. Walmart ’s Q1 2022 revenue rose 2.7% to $138.3 billion , bolstered by continued digital and grocery growth; Home Depot ’s Q1 2021 sales surged 32.7% to $37.5 billion on the back of large basket sizes; and Macy’s turned a $103 million profit in Q1 2021 thanks to stimulus checks and th
Inside Retail
MAY 18, 2021
Netherlands-based supermarket chain Spar saw sales increase 7.4 per cent for the year to December 2020, hitting $62.5 billion (€39.8 billion). And growth was highest in its Australian business, which saw strong revenue growth of 16.5 per cent off the back of its proximity and neighborhood format, as communities increasingly shopped locally due to the onset of the Covid-19 pandemic.
Retail TouchPoints
MAY 18, 2021
J.Crew Group has appointed Brendon Babenzien, Co-founder of Noah and former Design Director at Supreme , as Creative Director of J.Crew Men’s, effective immediately. His vision as Design Director at Supreme elevated the niche skatewear brand to the global stage. Babenzien will work alongside J.Crew Group CEO Libby Wadle to “redefine the brand, merging the vitality and creativity of today’s style subcultures with an innovative appreciation of classic menswear,” the company said in a r
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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.
Inside Retail
MAY 18, 2021
80 Collins leans into foodie experiences. Melbourne’s new retail and food precinct 80 Collins is partnering with the Melbourne Food & Wine Festival on an event series designed to draw foodies to the area. Visitors can indulge in barrel aged negronis at the hotel barrel ageing room, Oregon pinot wine tasting during a winemaker masterclass or enjoy frozen capped liquid nitrogen cocktails.
Retail TouchPoints
MAY 18, 2021
Some of the fastest-growing organizations today are turning to subscriptions to sell everything from food and wellness products to beauty and homecare. In fact, Gartner predicts that by 2023, 75% of DTC businesses will have a subscription offering. However, taking advantage of this growing market isn’t easy, with higher churn rates making it difficult for brands to cover acquisition costs and scale revenues.
Inside Retail
MAY 18, 2021
Following a once-in-a-lifetime health pandemic and a similarly once-in-a-lifetime, albeit shorter, recession, Australians overall financial wellbeing has actually improved substantially – with the latest Commbank financial wellbeing report finding the index rose 7.8 per cent to a record score of 51.1. This represents the largest year-on-year increase since the score begun being calculated in 2017, and is largely due to cautious consumerism and a focus on saving, rather than spending, during the
Retail Focus
MAY 18, 2021
In a time of economic downturn, most businesses will be looking for ideas on how to cut costs and maximise their profits wherever possible. In the retail sector, there have been limited opportunities for small businesses to function, and therefore make enough sales revenue to stay afloat. Here are the top ways in which retail outlets can keep costs down.
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.
Inside Retail
MAY 18, 2021
Under Armour flagship store opens in Dubai Mall Village. Sportswear brand Under Armour is rolling out a new flagship store in Dubai Mall. Retail design firm Green Room led the construction, working with the brand’s Under Armour US and EU global store design and brand teams, as well as its partner in Athlocity. “It’s a gamechanger for the brand,” said Lee Devon, vice president and general manager at Athlocity for Under Armour.
Retail Focus
MAY 18, 2021
There is no denying that when it comes to business management, marketing rises at the top of the priority list. Without proper marketing, a business will cease to function, as even the best products and services around will not get you anywhere if there aren’t enough people who know the company even exists. Most startups will end up wrestling with a lack of influence or clout, hoping that with enough effort, their marketing strategy snowballs into something more sustainable.
Inside Retail
MAY 18, 2021
The luxury goods sector could shrug off the hit from the coronavirus crisis as early as this year as Chinese and US shoppers help sales recover to pre-pandemic levels, consultancy Bain said on Monday. Bain now sees a 30 per cent probability that sales of high-end handbags, clothes and jewellery will return to or exceed their 2019 level of US$340 billion this year, depending on how quickly vaccines are rolled out and tourism picks up.
Retail Focus
MAY 18, 2021
Hybrid is a term that we are seeing a lot right now, as businesses across the globe look to combine homeworking with office-based employment. It’s not flexitime, it’s an effective blend of central offices and productive, supported homeworking. It sounds brilliant on paper: company cultures will still thrive, people can bounce ideas off their colleagues, but life will be easier to manage as people are able to work from home much more often.
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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.
Inside Retail
MAY 18, 2021
With online sales growing at an average rate of almost 65 per cent year on year in Australia, according to the ABS, delivery is now a mission critical part of the business. But when it comes to reining in costs, many businesses don’t know where to begin. “Most retail businesses focus on their product or marketing. That’s fantastic, but when you look at your cost structure, 10-30 per cent of it can be freight.
Retail Focus
MAY 18, 2021
It’s difficult to say anything new about how hard the past 12 months have been. We are all aware that the global pandemic that has torn through our lives has had a devastating impact on almost every sector, with retail continuing to feel its brutal effects. . Less comprehensively covered, however, has been the incredible work retailers have done to adapt and to ensure hopes are high for a much improved 2021.
Retail Wire
MAY 18, 2021
Oatly, a Swedish company that manufactures a substitute for milk, will go public this week and the company is expected to see its valuation rise to $10 billion in the process. The attractiveness of the company’s stock is in line with greater consumer acceptance of healthier and more sustainable food options, a trend that Oatly addressed in its prospectus.
Nvidia
MAY 18, 2021
GeForce products are made for gamers — and packed with innovations. Our RTX 30 Series is built on our second-generation RTX architecture, with dedicated RT Cores and Tensor Cores, delivering amazing visuals and performance to gamers and creators. Because NVIDIA GPUs are programmable, users regularly discover new applications for them, from weather simulation and gene sequencing to deep learning and robotics.
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
MAY 18, 2021
Home Depot’s sales for the quarter ending May 2 rose to $37.5 billion compared to $28.26 billion during the same period last year. The home improvement chain’s earnings per share was $3.86 vs. the expected $3.08. The retailer benefitted from Americans’ ongoing focus on home projects and disposable income propped up by federal stimulus checks.
Talking Retail
MAY 18, 2021
Brothers Ricky and Amrit Dougall have revamped their Coventry city centre store in response to changes in customer demand. The Nisa partners have introduced a raft of new services to their Millennium View store to appeal to the transitional demographic that make up a large proportion of the store’s customers, which and have seen immediate. This story continues at Retailing family revamps Coventry c-store.
Retail Wire
MAY 18, 2021
Walmart posted a 6.2 percent gain in same-store sales during the first quarter as its e-commerce business grew 37 percent. The retailer also raised its sales and earnings outlook for the year. “We have a strong position as our store environment improves and e-commerce continues to grow,” McMillon added. “Stimulus in the U.S. had an impact, and the second half has more uncertainty than a typical year.
Talking Retail
MAY 18, 2021
Pricewatch, a 12-site forecourt network based in Sussex, has awarded a contract to Henderson Technology for its EDGEPoS platform. The contract will see the Henderson Technology EDGEPoS Head Office installed at Clayhill Service Station, Lewes, to allow full control of all 12 sites from this one central location. EDGEPoS covers the three main areas of.
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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.
Small Biz Trends
MAY 18, 2021
As the resale market continues to grow, it is proving to be an excellent way to make money. Small businesses can use websites such as StockX for buying and selling, and start to capture some of the resale market. StockX is an excellent place to sell sneakers, clothing, handbags, watches, and other collectibles. This guide will take you through the process of selling on StockX, including how to set up an account and the benefits and drawbacks of selling on StockX.
Wiser
MAY 18, 2021
As a brand, do you have a way to get your products into new stores? Do you know what your products look like inside existing locations? Have a way to measure how product placement affects the bottom line? If you can answer yes to any of these questions, you have existing relationships with brokers or field teams. Brokers and fields teams are two crucial components of any successful brand manufacturer.
Talking Retail
MAY 18, 2021
JJ Whitley Vodka has added two new formats to its portfolio, in a move designed to enable retailers to tap into a wider range of missions. The new 350ml and 200ml bottle formats are available across all JJ Whitley’s products, including JJ Artisanal Russian Vodka and Raspberry Vodka. The sizes join existing 17.5ml, 50ml, 700ml. This story continues at JJ Whitley extends vodka range with new formats.
Retail Wire
MAY 18, 2021
Individuals who work 55 hours a week or more may be at greater risk of suffering heart attacks and strokes than others who spent fewer hours working. A new report from the World Health Organization and the International Labour Organization found that in 2016 that 347,000 died from heart disease and 398,000 from strokes. One thing these individuals held in common is that they all worked at least 55 hours a week.
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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