Tue.Nov 15, 2022

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Nike Launches.SWOOSH Web3 Platform for Virtual Product Creators

Retail TouchPoints

Nike has beta launched.SWOOSH , a digital community and platform where athletes, creators, collectors and consumers can learn about and collect creations like virtual shoes and jerseys that can be worn in digital games and immersive experiences. Nike plans to use learnings and community feedback from the platform for its first digital collection, which will debut in 2023.

Planning 289
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Deliveroo Australia collapses, enters administration

Inside Retail

Delivery service provider Deliveroo has ceased trading in Australia, entering voluntary administration after about seven years of operation in the country. The British-headquartered multinational announced the closure to customers and online on Wednesday evening and said the decision was effective immediately, with the app disconnected. The company said the decision was driven by Deliveroo’s “disciplined approach to capital allocation”.

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Walmart Settles Opioid Claims for $3.1 Billion

Retail TouchPoints

Walmart has agreed to a $3.1 billion settlement framework to resolve substantially all lawsuits (current and potential) by state, local and tribal governments related to the opioid crisis. According to a company press release , Walmart believes the settlement framework is in the best interest of all parties and will provide significant aid to communities across the country, with the money reaching state and local governments faster than any other nationwide opioid settlement to date, subject to

ATS 289
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As warehouses get greener, demand for eco-friendly packaging is soaring

Inside Retail

As consumers expect more environmentally sustainable solutions for the packaging of products and deliveries, shippers may be missing equally compelling reasons to make the switch: significant cost savings and an increase in operational flexibility. Saar Davidi, innovation director, automation, at Ranpak says a combination of new technologies and sustainable materials is making it easier for marketplaces and retailers to satisfy consumer expectations – and suggests that those not taking advantage

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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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Parents out of work in record numbers caring for kids sick with RSV, COVID-19 and flu

Retail Wire

The number of parents staying home to look after sick kids rose to an all-time high in October, according to the Bureau of Labor Statistics. “We have sick kids at the same time we have a child-care crisis — you put the two together and there just isn’t any wiggle room,” said Diane Swonk, chief economist at KPMG. “People are falling through the cracks.

ATS 241
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TV Commerce: 3 Ways to Make Shopping Click for Consumers

Retail TouchPoints

Selena Gomez fans may love her wardrobe in Only Murders in the Building, but those who want to buy clothes like the ones she wears — or products advertised during the show — may find themselves grappling with an experience that’s as old school as her sidekicks in the Hulu series. Despite an increase in the number of households with smart TVs and the growing number of shoppable ad formats, the shopping cart remains stubbornly elusive for many brands and retailers.

Consumer 278

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Google Agrees to Pay Record $391.5 Million, Adjust Data Collection Policies in 40-State Privacy Settlement

Retail TouchPoints

Google has agreed to a $391.5 million privacy settlement , the largest in U.S. history, with 40 state attorneys general regarding allegations that it misled users into thinking they had location tracking turned off while still collecting their information. Under the terms of the settlement, Google will make its location tracking disclosures clearer beginning in 2023.

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Estee Lauder to buy Tom Ford in US$2.8 billion deal

Inside Retail

Estee Lauder has acquired luxury fashion label Tom Ford for US$2.8 billion, marking Estee Lauder’s biggest acquisition yet. Once the deal is completed next year, Estee Lauder will become the sole owner of the Tom Ford brand and all of its intellectual property. The company expects to fund this transaction through a combination of cash, debt and $300 million in deferred payments to the sellers that become due beginning July 2025.

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7 Pricing Strategies to Supercharge your eCommerce Christmas Sales

Intelligence Node

Price matters. As of 2022, the price has become a make-or-break factor for almost 50% of American shoppers. With the holiday season fast approaching, these price-sensitive consumers are looking to. The post 7 Pricing Strategies to Supercharge your eCommerce Christmas Sales appeared first on Blog.

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Louis Vuitton opens first store in Sydney Airport

Inside Retail

Louis Vuitton has opened its first retail store in Sydney International Airport’s new premium area. Featuring the architectural idea first applied by Peter Marino in Ginza Namiki Dori, Tokyo, Japan, Louis Vuitton Sydney Airport combines light woods and bright colours for the store design, which complements the airport’s setting while also incorporating local features.

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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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RetailNext Acquires UK Counting and Footfall Solutions Specialist from Ipsos

Retail Focus

RetailNext, the leading analytics solution for brick-and-mortar retailers, today announced the acquisition of Retail Performance, the UK-based people-counting and footfall solutions from Ipsos, one of the world leaders in Market Research. The deal strategically positions RetailNext for further rapid growth in the UK and European retail intelligence space, and coincides with the company’s opening of new offices, headcount expansion, and onboarding of major new customers.

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“A perfect storm”: How mochi ice cream brand Little Moons blew up on TikTok

Inside Retail

Between Facebook’s shift away from being a place to connect with family and friends, and the rapid decline in usability of Twitter in recent weeks, many people are beginning to look elsewhere for their social media needs. There are myriad alternatives but one in particular has grabbed the attention of younger generations and has seen steady growth for some time: TikTok.

Finance 130
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October wholesale prices grew more slowly than expected

Retail Wire

The Producer Price Index, which measures the cost of wholesale goods and services, rose eight percent in October, below the 8.3 percent forecast by economists. Core PPI, which does not include food or energy, rose 6.7 percent.

Wholesale 130
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Designer labels for 15-year-olds? New generation splashes on luxury

Inside Retail

Luxury shoppers are getting younger and younger, forming a group that’s expected to buoy growth in the sector in the coming years with purchases being made from the age of 15, according to industry forecasts from consultancy Bain released Tuesday. Concern has risen in recent months that appetite from financially stretched Gen Z consumers for “aspirational” purchases, from $300 bucket hats to $900 sneakers, could wane, as inflation and rising living costs hurt the incomes of you

Finance 130
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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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Walmart agrees to pay $3.1 billion to settle opioid lawsuits

Retail Wire

Walmart has reached a deal to pay $3.1 billion to settle opioid lawsuits brought by states and municipalities for its role in the nation’s opioid crisis. The retailer maintains that the settlement is not an admission of guilt. Walmart intends to pay the settlement almost immediately unlike CVS and Walgreens, which will spread payments out over 10 years.

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KMD Brands bullish about Christmas after quarterly sales boost

Inside Retail

Outdoor apparel retailer KMD Brands has reported sales boomed across its brands as trading conditions normalise on both sides of the Tasman. For the 14 weeks to November 6, group sales rose 61.8 per cent compared to the same period last year with underlying operating profit increasing by nearly $27.33 million (NZ$30 million). Sales through its flagship Kathmandu chain increased 107.2 per cent while Rip Curl registered a 29.7 per cent increase.

Outdoor 130
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Amazon plans to cut 10K workers

Retail Wire

Amazon.com plans to lay off around 10,000 people, about one percent of its global workforce, cutting from its devices and retail divisions as well as human resources. The company saw its head count shrink by almost 80,000 people between April and September primarily due to hourly worker attrition.

Planning 100
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“It’s about doing less”: Kowtow MD talks sustainable growth

Inside Retail

Emma Wallace is the managing director of New Zealand-based fashion label Kowtow. Here, she discusses the challenges of a sustainable supply chain, how sticking to your established values helps you stand out, the hidden advantage in not having a strategy at first, and what the business has planned for the next 10 years. She also says there’s a good chance you’re mispronouncing the company name.

Fashion 130
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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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Bed Bath & Beyond to issue shares to pay off debt

Retail Wire

Bed Bath & Beyond said it would issue 11.7 million shares of its stock to some of the firms holding its bonds. The shares will pay off $123 million of the $1 billion in debt the retailer owes with notes coming due in 2024, 2034 and 2044.

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Inside Retail - Untitled Article

Inside Retail

Two Good Co is collaborating with a range of small businesses and social enterprises to release its new ‘Christmas gifts for good’ festive range. Starting in 2015 as an organic soup kitchen in Kings Cross, the social enterprise has scaled over the years. It now includes a ‘buy one, give one’ model – featuring luxury gift packs and self-care products – with proceeds going to local domestic violence refuges.

Apparel 130
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Home Depot exceeds 3Q expectations but keeps guidance as-is

Retail Wire

Home Depot posted a 5.6 percent year-over-year gain in sales in the most recent quarter but kept its full-year growth forecast at three percent as the housing market slows. The home improvement giant posted an earnings gain of 5.1 percent in the third quarter.

Marketing 100
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15 Phishing Examples

Small Biz Trends

The rise of phishing attacks poses serious security challenges to small business owners. As phishing attacks exploit human psychology, learning about various phishing examples is the most effective way to protect businesses from phishing scams. This article will explore common examples of phishing attacks to help you protect your data and IT infrastructure.

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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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Grocery strength gives Walmart confidence to raise its outlook

Retail Wire

The news is good at Walmart, which raised its annual forecast after its third-quarter sales increased 2.1 percent in the U.S. “Walmart U.S. continued to gain market share in grocery, helped by unit growth in our food business,” said CEO Doug McMillon. “We significantly improved our inventory position in the third quarter, and we’ll continue to make progress as we end the year.

Marketing 100
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Rieva Lesonsky on Understanding Millennials and Gen Z

Small Biz Trends

? If you own a retail business, you may have noticed that your customer base is not what it used to be. Rieva Lesonsky, CEO of GrowBizMedia/SmallBusinessCurrents.com sits down with Shawn Hessinger, Executive Editor of Small Business Trends to discuss how millennial shopping habits and Gen Z shopping habits are changing retail, and how your business needs to adapt to these changing retail trends.

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Amazon Clinic is Amazon’s new virtual health service

Retail Wire

Amazon.com has launched Amazon Clinic, a new virtual healthcare platform where customers can get help with 20 common conditions such as acne, migraines and seasonal allergies. The new service is separate from One Medical, the primary care company that Amazon has offered $3.9 billion to acquire.

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Kinetic Business Offers $2,500 Grants for Black-Owned Businesses

Small Biz Trends

Kinetic Business by Windstream is offering grants to Black-owned businesses within its service area. The Black Business Support Fund aims to support this traditionally underserved group by providing financial support and free internet service. About the Kinetic Black Business Support Fund Grant. The network and connectivity solutions provider originally launched the Black Business Support Fund back in 2020.

Finance 98
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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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Atlantic Capital Partners Arranges Sale of 233,008-Square-Foot Former Sears Building in Salem, New Hampshire

Shopping Center

Salem, N.H. —Atlantic Capital Partners has arranged the sale of a 233,008-square-foot retail building formerly occupied by Sears in Salem, located roughly 30 miles north of Boston. The building is situated within the 1 million-square-foot Rockingham Park Mall and currently… The post Atlantic Capital Partners Arranges Sale of 233,008-Square-Foot Former Sears Building in Salem, New Hampshire appeared first on Shopping Center Business.

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10 Places to Get Glass Blowing Supplies for Your Business

Small Biz Trends

Glass blowing can be a fun and creative way to make money. This method can be used to produce a huge array of products, from easy, simple glassware to intricate works of art. If you’re interested in taking up this hobby or growing a business around it, here’s a guide to sourcing supplies. The Glass Industry in 2022. The glass industry is mainly made up of large companies that manufacture sheets of glass for windows and other fixtures.

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Cannabis Hospitality Concept Set to Break Ground

VMS

Several Michigan entrepreneurs are banding together to develop a cannabis hospitality concept that will begin construction this month. Called Fields Cannary, the $10 million project will span four acres in Muskegon, Mich., and serve as a one-stop cannabis destination when it’s completed by the fall of 2023, MiBiz reports. The developers plan to convert an existing structure at 420 S.

Outdoor 97
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Best Wall Clocks For Your Office or Business

Small Biz Trends

Having a wall clock may seem redundant these days since everyone has phones, computers, and other tech that can display the time. However, wall clocks are still an important accessory in your office or business. Most people rely on wall clocks just as much as the ones on their devices, and they can also double as wall decorations. Wall clocks are also helpful for employees to set their times and for customers to easily see what time it is.

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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.