May, 2024

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Shopify’s Double-Edged Sword: Tackling Accounting Complexities with Automation

Retail TouchPoints

In an era when ecommerce is reshaping retail, platforms like Shopify have emerged as indispensable allies for businesses large and small. Shopify, originally a beacon for small and medium-sized enterprises, is now expanding its reach to larger corporations. However, this expansion brings to light a critical issue for CFOs and finance teams: the intricate and often underestimated task of recognizing and booking revenue in the ecommerce domain.

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Miniso Australia business collapses – again

Inside Retail

Miniso ‘s business in Australia collapsed into administration for the second time, with the Chinese variety retailer appointing Melissa Lau, Andrew Spring and Peter Moore from insolvency firm Jirsch Sutherland as administrators earlier this month. This is the second time the local master franchisee of the Chinese discount variety products retailer has entered administration, having previously undergone a restructuring in 2020.

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BMW, Jaguar Land Rover, and Volkswagen Used Banned Chinese Parts

Retail Wire

BMW, Jaguar Land Rover (JLR), and Volkswagen (VW) have been found to have utilized components from a banned Chinese firm, implicating potential ties to forced labor practices.

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Asda unveils £50m upgrade programme for larger stores

Retail Gazette

Asda is launching a £50m store upgrade programme designed to improve the shopping experience for customers in its larger supermarkets and superstores. The grocer’s programme, which starts at its Long Eaton store in Nottingham before running across 170 stores in total, is expected to complete by the end of November. Asda said 50 of its larger stores “will receive major upgrades”, including the introduction of new in-store services and features.

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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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Queensland retailers face strict new laws on display, sale of knives

Inside Retail

A new set of laws taking effect in Queensland this September will bring about several restrictions on the sale of knives and similar products. As the laws prohibit the sale of knives to minors under 18 years, retailers will have to perform age checks, provide instructions to their staff, display in-store signage, and restrict advertising of such products.

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Walmart confirms hundreds of coporate layoffs

Retail Dive

The retailer also said “the majority” of remote workers and those at offices in Dallas, Atlanta and Toronto, must relocate — mostly to its Arkansas headquarters.

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More Trending

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Thriving in the new e-commerce landscape: 4 trends shaping customer experience

Retail Customer Experience

Retailers are collaboratively working with sellers to strategically target specific buyers across websites and channels. This involves a coordinated effort to prioritize streamlined management processes that contributes to a seamless user experience.

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Citigroup Requiring All Employees to Return to Office

Retail Wire

Citigroup is set to bring 600 of its U.S. employees back to the office full-time, signaling a shift in Wall Street's work culture as regulatory requirements tighten. This move comes as the Financial Industry Regulatory Authority (FINRA), the primary watchdog for U.S. brokerage firms and exchange markets, prepares to reinstate pre-pandemic rules to monitor workplaces effectively.

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Morrisons sued by French giant over £2.5bn petrol forecourts deal

Retail Gazette

Morrisons is being sued by a subsidiary of French giant Bouygues, over its £2.5bn deal to sell its petrol forecourts. In the wake of the sale, the supermarket abandoned a EV charging agreement it had signed in 2019 with Equans EV Solutions, which is owned by the French conglomerate, which gave it exclusive rights to install chargers at 273 of its forecourts.

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ARA predicts $1 billion cash splash for Mother’s Day

Inside Retail

Australian retailers are set to benefit from a surge in spending on Mother’s Day despite the current cost-of-living crunch, according to research conducted by the Australian Retailers Association (ARA) in collaboration with market research company Roy Morgan. The study predicts that Australians will spend $995 million on Mother’s Day this year, which is $70 million or 7.5 per cent more than last year.

Planning 321
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From Concept to Deployment: Building Commerce Storefronts with Composable UI

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J.C. Penney remains profitable, could open new stores

Retail Dive

Holiday and full-year sales fell, and net income plunged. But the CEO of one of the retailer’s owners says its ongoing profitability could merit an expansion.

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3 Brands Making AR the Star of the Customer Experience

Retail TouchPoints

Augmented reality (AR) has evolved from a novelty into a critical investment for retailers that want to capture audience attention and dollars. Businesses that offer AR-driven experiences are 41% more likely to capture consumer attention than those that do not, according to Deloitte, and 66% of consumers are interested in using this tech while shopping.

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The Evolution of Retail Shopping – Balancing In-Store and Online Preferences

365 Retail

The retail sector has undergone significant transformations in recent years, driven by factors such as the rapid acceleration of e-commerce, a heightened demand for sustainable products, and the implications of Brexit. The recently published “ Retail Resilience ” report investigates these changes, offering a detailed analysis of in-store retail operations and consumer expectations.

Shopping 117
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Oakland To Sell A’s Stadium as Team Relocates to Las Vegas

Retail Wire

In a significant development marking the end of an era, the city of Oakland has agreed to sell its stake in the stadium that has been home to the Oakland Athletics since 1968.

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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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BookTok made me buy it: How TikTok is driving a book-buying renaissance

Retail Gazette

TikTok is often associated with viral dances, seductive cooking videos and travel vlogs, but it’s also quickly become the go-to destination for all things books. Dubbed BookTok, the online community has revived people’s interest across a range of genres, and led to a book-buying renaissance. It’s the largest community on TikTok, with over 243bn views under #booktok as users share their excitement for their favourite novels.

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Pizza Hut Australia fined $2.5 million over 10 million spam messages

Inside Retail

Pizza Pan Group, trading as Pizza Hut Australia, has been fined $2.5 million for sending more than 10 million spam messages within four months. The company sent more than 5.9 million texts and emails to customers who either had not consented or had withdrawn their consent to receive marketing from January to May last year, according to the Australian Communications and Media Authority (ACMA).

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TJX, the world’s largest off-price retailer, is poised to get a lot bigger

Retail Dive

The company said it could expand its global fleet by 1,300 or more additional stores in coming years, spurred in part by department store closures.

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Simon to Replace JCPenney with Luxury Apartments at San Diego’s Fashion Valley

Retail TouchPoints

Simon has unveiled plans for the next wave of redevelopment for its Fashion Valley shopping center in San Diego, which will include the addition of 850 multi-family luxury residences by AMLI Residential. Development of the residential component will begin immediately following JCPenney ‘s planned closure at the end of 2025 and is expected to be completed in late 2026.

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Brick & Mortar Retail Relevance: How to Stay Ahead of the Curve

Speaker: Jay Black, Senior Account Executive

Let's set the record straight: in-store retail isn't dead - it's evolving! Faced with the digital age and the demands of omnichannel shopping, some retailers are thriving while others are struggling to adapt. Join Jay Black in this exclusive session as he explores the strategies that set successful stores apart, including: Crafting unique and unforgettable in-store experiences 🛍️ Mastering the art of retail demands 🛒 Navigating inventory challenges in today's climate 📦 an

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Understanding shopper behavior drives big wins for jewelry retailer

Retail Customer Experience

Daniel’s Jewelers is enjoying robust return-on-investment in deploying RetailNext technology to measure shopper behaviors, predict traffic counts, analyze theft and assess digital ads effectiveness. It’s also proved a big win for customers.

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Amazon Fresh Is the Newest Retailer To Slash Prices for Inflation-Conscious Consumers

Retail Wire

Battling the prolonged effects of inflation, major retailers such as Target and Walmart have already reduced grocery prices to attract customers, and Amazon has now joined the list in pursuit of the same goal.

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Ocado to leave FTSE 100 after share price collapse

Retail Gazette

Ocado is set to leave the FTSE 100 after a drop in its share price, piling pressure on the business to consider ditching London for New York. The online grocery firm will be axed from the index during a quarterly reshuffle, according to the London Stock Exchange, after its valuation fell from a £22bn high in the pandemic to £3.6bn as of yesterday (28 May).

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ACCC allows talks among retailers, others over cash transit plight

Inside Retail

The ACCC has authorised – with conditions – that retailers, the Australian Banking Association (ABA), the Customer Owned Banking Association, banks and other industry participants can participate in talks over the distribution of cash in the country. The move came after Armaguard – a major supplier of cash-in-transit services – expressed its concerns about its operational future in the industry, given the declining use of cash.

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How to Stay Competitive in the Evolving State of Martech

Marketing technology is essential for B2B marketers to stay competitive in a rapidly changing digital landscape — and with 53% of marketers experiencing legacy technology issues and limitations, they’re researching innovations to expand and refine their technology stacks. To help practitioners keep up with the rapidly evolving martech landscape, this special report will discuss: How practitioners are integrating technologies and systems to encourage information-sharing between departments and pr

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‘The death of the mall was a myth’: Brookfield Properties CEO on the evolution of an aging retail concept

Retail Dive

Kevin McCrain isn’t bothered by department store anchors closing and says retailers need malls because people like to shop there — including Gen Z.

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The 2024 Brand Experience Award Winners are…

Retail TouchPoints

Retail TouchPoints is announcing winners of the fifth annual Brand Experience Awards , a program designed to spotlight the brands and retailers that are reimagining and elevating customer experiences across all channels. This year, we’ve identified 24 organizations that have successfully differentiated through their loyalty programs, marketing strategies, in-store experiences and even their approach to last mile and fulfillment.

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A look at new trends in CMS, cloud-based digital signage

Retail Customer Experience

Upcoming trends include growth in cloud-based digital signage, AI driving automation, dynamic content via integrations, and personalization for employees and customers alike.

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Top Deals for National Hamburger Day 2024

Retail Wire

National Hamburger Day 2024 is just around the corner, falling on Tuesday, May 28. This beloved day caps off National Hamburger Month, offering burger enthusiasts a variety of deals and free food options across the country. Here’s a roundup of some of the best offers available for National Hamburger Day.

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Exploring the Advantages and Hurdles of Direct Store Deliveries

Direct Store Delivery, or DSD, is a common practice among global suppliers and retailers – like PepsiCo, Frito Lay, CVS, and Dollar General – and its popularity is growing, with the global DSD market expected to reach $1.19 trillion by 2027. Download this eBook for exclusive insights into direct store deliveries, challenges, benefits, and future trends.

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Asos to launch in India as it signs licensing agreement

Retail Gazette

Asos is set to launch online and in-store in India as it signs a new licensing agreement with local retail company Reliance Retail. The fashion etailer said the long-term partnership will see Reliance Retail be the exclusive partner for the brand across all online and offline channels in the region. This includes the introduction of Asos’ portfolio of own-brand fashion labels to the Indian market through a multichannel presence, such as exclusive brand stores, multi-brand store expressions, and

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Retail Food Group settles class action filed by former franchisees

Inside Retail

Food and beverage company Retail Food Group (RFG) has entered into a binding deed to settle the class action filed by some of its former franchisees. The settlement, subject to court approval, involves a dismissal of the proceeding by the applicant without RFG making any admission or payment, the company said. However, as part of the agreement, RFG will release applicable members of the class action from historical debts alleged in the proceeding.

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Macy’s and J.C. Penney have two very different real estate strategies

Retail Dive

One has a downsizing plan that includes profitable stores. The other plans to keep — and possibly open — even low-volume stores. What’s going on?

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How Amazon, Poshmark and Rolling Stone Use Livestreaming to Break out from the Ecommerce Grid

Retail TouchPoints

Today’s consumers, especially Gen Z ( 73% ) and millennials ( 62% ), prefer to buy from a brand that offers interactive experiences that go beyond the standard ecommerce grid. And there’s no denying that video, whether live or recorded, is proving a powerful medium to create those experiences in digital environments. In fact, a study commissioned by real-time engagement platform Agora found that 61% of respondents under the age of 55 are interested in livestream shopping experiences, with

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Disruption Reimagined: How to Conquer, Not Crumble, During Supply Chain Instability

Speaker: Robyn O’Brien - Founder of Sirona Ventures, Adjunct Professor at Rice University’s Business School, Supply Chain Optimization and Logistics Expert

Today’s supply chain leaders are required to stay strong in the face of disruption and not only accept it, but embrace it – after all, progress is made outside of your comfort zone. While it’s easier said than done, conquering the fear of instability in your supply chain is within your reach. Thanks to the advancement of technology and AI, we now have more tools and resources at our disposal than ever before to conquer, not crumble, in the face of uncertainty.