Tue.Feb 20, 2024

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Woolworths CEO Brad Banducci to retire

Inside Retail

Woolworths Group CEO Brad Banducci is set to retire in September, coinciding with the supermarket chain’s 100th anniversary. Banducci will retire after serving the company for 13 years, with eight and a half of those as CEO. Woolworths has named current MD of Woolies X Amanda Bardwell as MD and CEO, effective September 1, following the release of the company’s annual financial results. “It has been a privilege to be a member of the Woolies team and one I have never taken for gr

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Bed Bath & Beyond, Overstock Get New CEOs

Retail TouchPoints

Beyond, Inc. — parent company of Bed Bath & Beyond and Overstock.com — has appointed new CEOs for both brands, and also named Camping World CEO and TV personality Marcus Lemonis as Executive Chairman of its board of directors. The appointments follow the abrupt departure of former Beyond CEO Jonathan Johnson in November 2023. Johnson oversaw Overstock’s purchase of the Bed Bath & Beyond IP and digital assets with a $21.5 million bid in June 2023.

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Woolworths books higher net profit, sales in first half

Inside Retail

Solid results in the Australian food and B2B business segments drive an increase in first-half sales and net profit for Woolworths Group. The supermarket group’s net profit rose 2.5 per cent year over year to $929 million as sales jumped 4.4 per cent to $34.64 billion. Earnings before interest, taxes, depreciation, and amortisation climbed 5.3 per cent to $3.08 billion.

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Using AI to Build a More Creative, Strategic Future for Marketers

Retail TouchPoints

Retail marketers stand to gain much-needed support and time from AI in a sector fueled by creativity and innovation. We know that AI can help build more meaningful connections between people and content. For example, on Instagram, 40% of the content people see comes from recommendations that are powered by AI. But as this technology becomes an increasingly visible asset, it holds the power to free up time, break through creative blocks and solve customers’ needs in new ways.

Marketing 264
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Get MACH Ready: Preparing Your Business for Digital Transformation

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.

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Ford Slashes Prices on 2023 Mustang Mach-E to Challenge Tesla

Retail Wire

In a bid to compete with Tesla and attract budget-conscious buyers, Ford Motor Co. has significantly reduced the prices of its electric 2023 Mustang Mach-E SUV.

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Klarna Adds Login that Gives Consumers Control Over Which Data Points They Share

Retail TouchPoints

Payments platform Klarna has expanded its “Sign in with Klarna” service to 23 countries, including the U.S. and UK, following a test period with two Sweden-based companies, the restaurant app Maitres and the Tradera marketplace. The service enables consumers to choose which data they share with the merchant, such as purchase histories that would enable more personalized product recommendations based on interests as well as sizes, style and color preferences for clothing.

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Walmart Advances Media Ambitions with $2.3 Billion Acquisition of Vizio

Retail TouchPoints

The rumored purchase of Vizio by Walmart is no longer a rumor: the retail giant has announced that it will purchase the TV maker, and its SmartCast Operating System, for approximately $2.3 billion in cash or via debt, subject to customary regulatory clearance. The acquisition is designed to support Walmart Connect , the company’s retail media business, by combining Vizio’s advertising solutions with Walmart’s reach and capabilities.

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Adare Manor Launches Brand-New Retail Concept Store Designed by Kim Partridge Interiors

Retail Focus

Adare Manor , Europe’s most beloved countryside resort debuts a new shopping experience with the launch of a uniquely designed retail Boutique. Showcasing incredible artisans and craftsmanship from Ireland and Europe designers alongside the much-loved Adare Manor products, the new guest experience has been created following the success of the property’s online retail concept and former on-site gift store.

Boutique 147
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RICE Keynoter Dr. Marcus Collins: ‘Consumption is a Cultural Act’

Retail TouchPoints

Dr. Marcus Collins, a marketing professor at the Ross School of Business at the University of Michigan who also has deep marketing strategy experience within the worlds of retail, tech and music, calls himself a cultural translator. That’s someone “who can see the world through lenses that are not their own, make meaning of the world through said lenses and then be able to communicate said meaning to people who are not from that community, that group, that constituency, so they can…see the

Consumer 262
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Wolf & Badger opens flagship Soho store with Shaftesbury Capital

Retail Focus

Shaftesbury Capital has announced that Wolf & Badger, the award-winning multi-channel retailer, has launched its UK flagship at 102 Berwick Street, in Soho. The opening represents a milestone moment in the brand’s bricks-and-mortar presence, and reaffirms Shaftesbury Capital’s portfolio-wide appeal to high-quality retailers. Wolf & Badger’s 1,400 sq ft unit at 102 Berwick Street presents an ever-evolving collection of unique items, from a dynamic range of over 100 independent and sustain

Fashion 147
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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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What retailers can learn from Starbucks’ accessible store design

Inside Retail

This month, the American coffee chain Starbucks opened the first store to be built using its Inclusive Spaces Framework at Union Market in Washington, DC. The framework aims to bring more inclusive innovation in physical and digital spaces while enabling Starbucks to scale accessible design across its store portfolio. In a company press release, Katie Young, Starbucks’ senior vice president of store operations, said the framework “is central to our mission of connection and will lead to greater

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81% of UK shoppers always open delivery notification emails from retailers, offering increasing customer engagement opportunities

Retail Focus

Retailers and brands who outsource post-purchase updates to third-party fulfillment or courier companies could be missing out on valuable customer engagement opportunities, according to the latest research from Scurri , the next-generation delivery management platform. Original research of 1,000 UK consumers in its Getting personal in the last mile and beyond report, reveals that 81% always open delivery updates from a retailer or brand, while less than a fifth (38%) always open unbranded update

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The co-founder of Bassike on embedding sustainability into the brand’s DNA

Inside Retail

Inside Retail interviewed the co-founder of Bassike (pronounced “basic”), Mary Lou Ryan, on what the brand achieved in 2023 and how it is preparing to navigate 2024. The Australian designer clothing label is doubling down on its sustainability initiatives for its customers, local industry and the planet. Inside Retail : What were some of Bassike’s proudest achievements in 2023?

Boutique 130
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Georgia’s Export Boom, Alabama’s Rail Push, and Ohio’s Port Modernization

Retail Wire

Georgia set a new record in exports in 2023, the Alabama Port Authority and CSX Transportation are teaming up to bolster rail connectivity, and the Port of Cleveland secured $32 million in grants for modernization projects in Ohio.

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Forrester Report: Demystifying The Technical Functions of POS Solutions

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.

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Three Customer Service and CX Metrics Every Employee Needs to Understand

Hyken

Many of you who read my articles or watch my videos may not have jobs related to customer service or CX measurement, but that doesn’t mean you shouldn’t pay attention to what I’m about to share. I recently wrote an article that included 14 customer service and CX metrics that CX leaders should consider, and today, I’m going to cover three of them that anyone who has any interaction with a customer, whether in sales, support or just might happen to answer a customer’s call, should pay attention t

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Walmart Discreetly Shut Down 101 Locations Last Year

Retail Wire

According to Walmart's investor website, the giant quietly reduced its number of stores by 101 between January and August last year.

Location 147
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6 retailers offering a four day work week

Retail Gazette

Morrisons became one of the first major UK retailers to introduce a four day week for its employees at its Bradford head office back in 2020. However, last month it revealed that it was adjusting its policy and moving staff onto a four and a half day working week instead. As one retailer pulls back, Retail Gazette rounds up the retailers offering its employees a shorter working week.

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Chuck E. Cheese Rekindles NASCAR Partnership

Retail Wire

Chuck E. Cheese, the popular kids' entertainment and pizza chain, has found a new way to engage its young fans: through the fast-paced world of NASCAR racing.

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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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Wilko reveals further store opening plans

Retail Gazette

Wilko is set to launch a new store in Poole in Dorset, as it confirms the opening dates of its upcoming Rotherham and St Albans shops. The hardware retailer revealed it will open in Poole’s Dolphin shopping centre, with the launch date to be announced shortly, as new owner The Range continues its national roll-out of Wilko shops after it acquired the brand’s IP out of administration last October.

Planning 122
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American Airlines Raises Checked Bag Fees

Retail Wire

American Airlines recently announced an increase in checked bag fees, aiming to affect travelers at both the airport and those checking bags online.

ATS 130
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Why social commerce is transforming online retail

Retail Dive

Once hubs for casual entertainment, social media platforms now serve as bustling marketplaces. Today’s social media scroller has become a digital window shopper with the power to buy in seconds.

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Diane Von Furstenberg Set To Release a Target Collaboration

Retail Wire

Famous international fashion designer Diane Von Furstenberg is teaming up with Target for a significant collaboration set to launch on March 23.

Fashion 130
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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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BREAKING: The Body Shop to axe half of stores and 40% of head office jobs

Retail Gazette

The Body Shop administrators said it will retain “more than half” of the brand’s 198 UK stores, with seven shops set to close today. The ethical beauty chain will also axe around 40% of head office roles, to around 400 full-time staff. Administrators FRP, which were appointed last week, said: “After years of unprofitability and following a full evaluation of The Body Shop’s UK business, the joint administrators have concluded that the current store portfolio mix is no lon

Shopping 116
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Toyota Union Pushes for Bonus Wage Increases

Retail Wire

In preparation for the yearly wage talks with Toyota Motor Corp., the workers' union is aiming for a bonus equivalent to 7.6 months of pay.

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Ocado launches ‘fine dining’ ready meals for pets

Retail Gazette

Ocado is launching a range of “fine dining” frozen ready meals for dogs and cats in a bid to appeal to health-conscious pet owners. The online supermarket will to sell seven different types of microwavable frozen meals for kittens, puppies, and adult cats and dogs. Hitting stores this week, the meals from Ted’s Bowl, which cost between £4.49 to £4.59, will include human-grade meat, fish or poultry, with a minimum of 98% for cats and 70% for dogs.

Grocer 116
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Man Sues Powerball Over $340M ‘Mistake’

Retail Wire

John Cheeks claims the numbers he saw listed on the lottery website matched his ticket, but lottery officials say it was a mistake.

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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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Why is Currys a takeover target and how much is it worth?

Retail Gazette

Currys has found itself at the centre of a bidding war, with Waterstones owner Elliott and Chinese online shopping giant JD.com both considering takeover bids for the tech giant. The electricals retailer said on Saturday it had rejected the book shop owner’s £700m offer as it believed it “significantly undervalued the company and its future prospects” On Monday, JD.com revealed it was considering throwing its hat in the ring to snap up Currys.

Shopping 115
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Delta Flight Will Allow Air Travelers To See Eclipse From the Sky

Retail Wire

Ever wanted to view an eclipse from the sky? Delta Air Lines is providing passengers with prime viewing spots from its planes.

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Tesco rolls out Clubcard unit pricing amid fears of misleading shoppers

Retail Gazette

Tesco will update how it displays Clubcard prices following criticism from consumer group Which? that claimed the promotions made it difficult for shoppers to spot the best deals. The supermarket giant said it will update the prices on its shelves in the coming weeks to allow customers to see the unit pricing of products sold under its loyalty scheme.

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Sony May Release ‘Pro’ Edition of the PlayStation 5 This Year, According to Analysts

Retail Wire

According to analysts, Sony will likely introduce an updated version of the PlayStation 5 this year, following the firm scaling back its sales projections for its leading console.

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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.