Thu.Jun 13, 2024

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Shein raises prices ahead of planned IPO

Retail Gazette

Shein has increased prices by over a third on some core items, likely to boost revenues ahead of its anticipated IPO, according to a recent analysis of its pricing strategy. Shein’s average price hikes surpassed those of fellow fashion rivals H&M and Zara , according to data from London-based research firm Edited, which compared prices on 1 June with those from a year earlier.

Planning 105
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Raising the Bar: A Grocer’s Guide to Dominating Alcohol Sales in a Drizly-Free Market

Retail TouchPoints

And, just like that, Drizly is out. As of March 2024, the departure of what was once the largest online marketplace for alcohol in North America has created a significant void in the adult-beverage industry. However, this void also presents a significant opportunity for grocers. With customers increasingly returning to in-store shopping, grocery stores are now in a prime position to reclaim and expand their share of the alcohol market.

Marketing 269
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Costco Fans Frustrated by Exclusive Canadian Food Court Favorites

Retail Wire

Costco enthusiasts in the United States have been left frustrated and envious upon discovering that a popular food court item available in Canada is not offered stateside.

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Really, Truly Fake: The RealReal ‘Opens’ Counterfeit Handbag Store on Canal Street

Retail TouchPoints

The RealReal makes a concerted effort to keep counterfeit luxury items off the market, removing approximately 5,000 fakes each month (a total of 250,000 since 2011). So what are these faux handbags doing in a RealReal retail store located on NYC’s Canal Street, a notorious knockoff hub? The answer is simple: the fakes, identified by The RealReal’s stringent authentication process, are decidedly not for sale (“hours” listed on the store’s window indicate it is closed Monday through Sunday).

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Optimizing Frontend Delivery in Composable Commerce: The Buy vs Build Decision

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Meta To Reduce VP Positions in Continued Restructuring Effort

Retail Wire

Meta Platforms is reportedly making further reductions in its executive ranks, with plans to decrease the number of vice president positions from 300 to approximately 250.

Planning 279
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After Declining Amex, Ebay to Begin Accepting Venmo

Retail TouchPoints

Ebay has drawn a line in the sand when it comes to payments. After very publicly announcing last week that it would no longer accept American Express due to “unacceptably high fees,” today the online marketplace said it will be adding Venmo as a payment option in the U.S. as part of a “continued push to expand ways to pay and invest in digital natives.

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Poshmark Turns Livestreams into Community Selling Events with New Live Posh Parties

Retail TouchPoints

Poshmark has introduced Posh Party Live , daily events that will each be merchandised to a unique theme such as summer neutrals or luxury goods. Taking place daily at 2 p.m. Pacific, the new offering brings together the platform’s Posh Shows seller livestreams with its popular Posh Parties feature, which allow any seller to share listings that fit within a given theme.

Fashion 264
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Starbucks Adds Combo Meals to Its Menu

Retail Wire

The coffee retailer is taking a significant step to make breakfast more affordable for its customers.

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Why HOKA Raced to Midtown for its First Global Flagship

Retail TouchPoints

Initially a cult classic among runners and exercise fiends, HOKA is now undeniably a mainstream phenomenon. In fact, HOKA parent company Deckers revealed in its Q4 and results for fiscal 2024, which ended March 31, 2024, that the brand’s net sales for the quarter increased 34% year over year, while its full fiscal year net sales increased 27.9% over 2023 , reaching $1.8 billion.

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Johnson & Johnson Reaches $700 Million Talc Settlement

Retail Wire

The company reportedly misled consumers about the safety of its talcum powder products.

Consumer 280
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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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Harps Food Launches In-Store Retail Media via Grocery TV Network

Retail TouchPoints

Arkansas-based grocer Harps Food Stores is adding its 145 stores to the Grocery TV in-store retail media network. Harps will leverage Grocery TV’s end-to-end in-store retail media solution to engage shoppers with digital displays throughout its stores in Arkansas, Kansas, Louisiana, Missouri, Mississippi and Oklahoma. The Harps team also will be using Grocery TV’s Content Management System to launch and track in-store digital campaigns in order to increase the visibility of marketin

Grocer 162
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Denmark Recalls South Korean Instant Noodles for Being Too Spicy

Retail Wire

This ramen product could cause acute poisoning in some consumers.

Consumer 246
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New Era to acquire ’47, creating $2 billion global sport and lifestyle group

Inside Retail

Lifestyle brand New Era has entered an agreement to acquire premium sports label ‘47 for an undisclosed sum. Following the acquisition, the combined company is expected to generate approximately $2 billion in annual revenue. The two brands said they will continue to grow their licensing partnerships with many of the largest global sports leagues and events.

Consumer 147
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Chick-fil-A’s Summer Camp for Kids Sparks Debate in Louisiana

Retail Wire

A Chick-fil-A franchise in Hammond, Louisiana, has sparked a mixture of intrigue and controversy with its new offering: Chick-fil-A Summer Camp for children.

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Composable Commerce Reference Architecture 2024 Edition

Achieve more with your commerce with the help of Orium’s Composable Commerce Reference Architecture 2024 Edition. Presented in partnership with commercetools, Contentstack, and Google Cloud, this edition is packed with new insights and practical examples to help you navigate changes in digital commerce and construct an adaptable tech stack optimized for efficiency and scalability.

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How AI and IoT Are Shaping Consumer Electronics in 2024

Intelligence Node

The consumer electronics landscape is rapidly evolving, driven by a mix of innovation, changing consumer preferences, and technological advancements. Reports show that this year, 78.3% of total consumer electronics sales. The post How AI and IoT Are Shaping Consumer Electronics in 2024 appeared first on Blog.

Consumer 104
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Elon Musk’s Optimism on $56 Billion Pay Vote Sends Tesla Shares Up

Retail Wire

Tesla's stock saw a boost in pre-market trading following Elon Musk's statement that shareholders are likely to approve his $56 billion disputed package and his proposal to relocate the electric carmaker's incorporation to Texas.

Marketing 130
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J.C. Penney closing 4 stores in coming months

Retail Dive

The department store remains profitable, though net income plummeted nearly 90% last year and sales continued to slide.

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Microsoft Takes Responsibility for Tech Hack

Retail Wire

Microsoft previously denied any responsibility in the hack.

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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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John Lewis TV sales skyrocket ahead of 2024 Euros

Retail Gazette

John Lewis has seen demand for its TVs skyrocket ahead of the 2024 UEFA European football championship, which begins this Friday (14 June). The department store said TV and AV sales had soared 47% compared to the same period last year, with shoppers spending on average 13% more on their home entertainment set up. It noted many consumers were upgrading to larger screens, with sales of 65” TVs more than doubling (104%) and 70” screens skyrocketing 123%.

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Adults account for more toy sales than preschoolers: report

Retail Dive

Nearly half of shoppers over the age of 18 purchased a toy for themselves in the past year, according to a report by Circana.

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Tesco grows market share and sales in first quarter

Retail Gazette

Tesco has strengthened its market share and maintained its profit guidance for the year, after reporting a 4.6% rise in underlying UK sales for the first quarter. As a result, the UK’s biggest grocer has kept its forecast for retail adjusted operating profit of at least £2.8bn ($3.6bn) for 2024/25, up from £2.76bn in 2023/24. “We’ve continued to build momentum in the business, with strong volume growth across the UK, Republic of Ireland and Central Europe supported by easing in

Marketing 110
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Sony Pictures Is Set To Acquire the Alamo Drafthouse Cinema Chain

Retail Wire

On Wednesday, Sony Pictures Entertainment announced its acquisition of the Alamo Drafthouse, the dine-in movie theater chain.

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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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Figs taps Lululemon exec for CFO

Retail Dive

Sarah Oughtred spent almost 17 years at the activewear brand, where she helped scale the business from $270 million in revenue to about $10 billion.

ATS 111
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Winning New Exports

LS Retail

©iStock/Alberto Marrupe Gutierrez Whether you are based in Ireland or the United States, winning new exports comes in handy for newfound growth at your business. In this case, the Going for Growth program, which Enterprise Ireland and KPMG support, is designed to help female entrepreneurs achieve their growth ambitions by growing their sales, creating additional employment, and winning new exports.

ATS 99
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How retailers can fight theft without hurting customer experience

Retail Dive

Locked cases drive potential customers to online alternatives. Helpful associates assist customers while inconveniencing crooks.

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Operationalizing our custom “SOC in a Box” at the RSA Conference 2024

Cisco Retail

Cisco engineers often face the challenge of setting up a Security Operations Center in two days at global events. Aditya Sankar explains the process with our “SOC in a Box” in this blog.

ATS 98
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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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BWE Arranges $66.5 Million Financing for Plaza de Perris in Southern California

Shopping Center

Perris, Calif. — BWE has arranged $66.5 million in construction financing for a new phase of development at Plaza de Perris, a retail center located in Perris. Upon completion, the property… The post BWE Arranges $66.5 Million Financing for Plaza de Perris in Southern California appeared first on Shopping Center Business.

Finance 98
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Bolster SaaS Security Posture Management with Zero Trust Architecture

Cisco Retail

According to AppOmni’s 2023 State of SaaS Security report, 79% of organizations reported a SaaS security incident during the preceding 12-month period. As enterprises incrementally store and process more sensitive data in SaaS applications, it is no surprise that the security of these applications has come into greater focus.

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Revolve Group opens first physical store

Retail Dive

The Aspen, Colorado, location comes after a successful pop-up shop and will feature collections from both Revolve and Fwrd.

Location 119
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5 Things to Consider When Migrating from Legacy Integrations 

Mulesoft

Migrating off of legacy middleware requires careful planning and execution. Learn about legacy migration strategies and how to enable seamless digital transformation with MuleSoft. The post 5 Things to Consider When Migrating from Legacy Integrations first appeared on MuleSoft Blog.

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From Concept to Deployment: Building Commerce Storefronts with Composable UI