Sat.Sep 05, 2020 - Fri.Sep 11, 2020

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GameStop Will Close Up To 450 Stores In Fiscal 2020

Retail TouchPoints

GameStop is accelerating store closure plans as part of its “de-densification” strategy. The retailer plans to shutter 400 to 450 stores worldwide in fiscal 2020, which ends in February 2021. GameStop already has closed 388 locations this year; the retailer currently operates more than 5,100 stores around the world. “These closures, along with the growth in our online business and expanded omnichannel capabilities, will allow us to more efficiently and profitably service our customers,” said Jim

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The Tech Effect: What All Retailers Can Learn From Beauty Brands

Intelligence Node

This article was first published on Forbes on Apr 23, 2020, and is authored by Intelligence Node CEO Sanjeev Sularia in his capacity as a member of the Forbes Tech Council. Recent retail news depicts a tale of two distinct fates: stores that are prospering, and those that are barely hanging on. 2019 was a tumultuous year […]. The post The Tech Effect: What All Retailers Can Learn From Beauty Brands appeared first on Blog.

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O shop in Chengdu is a lifestyle store by day and a bar by night

Dezeen

A series of mirrored panels obscure the cocktail bar that lies inside this shop -cum-cafe in Chengdu , China created by design studio Office AIO. The shop, which is unusually called O, was named by its owner and the co-founder of Office AIO , Tim Kwan. Taking the first letter from the word "object", Kwan and the shop owner felt that O was the "perfect shape representing eternity – it has no beginning nor end, no direction nor a right way round".

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CPG Marketing Analytics - Benchmarking Study

Shopperations

CPG Marketing teams have long strived to quantify the results of their programs to show their business impact. As companies prioritize analytical capabilities and demand more accountability of their marketing investments, marketers are being asked to think more analytically and strategically about their roles. This is easier said than done.

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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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Bankrupt Century 21, Citing $175 Million Insurance Nonpayment, Will Cease Operations

Retail TouchPoints

Pioneering off-price retail chain Century 21 Stores has filed for Chapter 11 bankruptcy protection and plans to shut all 13 of its stores in New York, New Jersey, Pennsylvania and Florida. The company has filed motions with the bankruptcy court to keep the stores and web site in operation in order to run going-out-of-business sales. In tandem with the filing, the lawsuit Century 21 filed against several of its insurance providers — for nonpayment of losses the company claims should have been cov

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How to Maximize Your Retail Floor Space with a Little Help from NAHANCO

Nahanco

National Hanger Company is the retail supply source for all types of clothing stores, including department stores, specialty stores, consignment shops, thrift stores and any other type of retail location that needs visual merchandising support. We’ve been around for a few years (over 95 to be exact) so we know a thing or two about how to maximize floor space.

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How to Forecast Demand in Retail (2020)

Retalon

Top-performing retailers cannot rely on inaccurate, decades-old approaches to forecasting demand. In order to optimize their inventory investments and maximize GMROII, today’s retailers need accurate demand forecasts for every SKU in every store. But achieving this level of granularity requires a big data analytics approach to demand forecasting — designed for the digital era of retailing.

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Kohl’s Upgrades Loyalty Program With Kohl’s Cash Tie-In

Retail TouchPoints

After a successful pilot in 13 markets, Kohl’s is introducing its new, simplified customer loyalty program nationally. Kohl’s Rewards builds on the retailer’s Yes2You Rewards loyalty program but allows shoppers to earn more Kohl’s Cash in more ways. Members earn 5% Kohl’s Cash on every purchase along with personalized deals, a birthday gift and other perks.

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Technology Works Wonders for Workers

Natural Insight

Building toward a better future.

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New e-commerce solution takes back control from third-party delivery companies

Retail Technology Review

Cheerfy, the CRM, loyalty and e-commerce solution dedicated to the hospitality industry, has launched a new product called Cheerfy Shop, to help operators turn their website into an e-commerce site, as well as providing much needed at-table order and payment technology.

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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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Dynamic Pricing and Price Discrimination: What’s the Difference?

Wiser

Dynamic pricing and price discrimination are two concepts that are often used interchangeably. Dig into the details, though, and they couldn’t be more different. Both involve changing the price of a product or service depending on market conditions or customer attributes, but the way they’re executed reveals that there are some important differences between the two.

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Target Commits To Hiring 20% More Black Employees

Retail TouchPoints

To meet its goal of increasing diversity, Target is planning to boost the number of Black employees across the company by 20%. over the next three years. The move is part of a “longstanding commitment to creating a culture that is diverse, equitable and inclusive,” according to a company statement. “We know that having a diverse workforce and inclusive environment not only creates a stronger team, but also provides the perspectives we need to create the products, services, experiences and messag

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The Difference Call Extensions Can Make in Google Ads

Store Growers

Last Updated on November 27, 2020. The goal of ecommerce is for customers to be able to check out on their own. But what if they have some questions before purchasing? Providing a phone number or chat allows people to clear up any doubts before purchasing. It should be an essential part of your website, but can also work well when you a phone number as a call extension in your Search Ads.

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E-pharma set to revolutionise drug market access in India as COVID-19 drives e-commerce growth, says GlobalData

Retail Technology Review

The COVID-19 induced lockdown resulted in an unprecedented rise in e-commerce transactions across India. In line with this, e-pharma sector also witnessed growth despite regulatory challenges. Against this backdrop, e-pharma space is all set to revolutionise drug market access in the country, says GlobalData, a leading data and analytics company.

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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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How Data Analytics is Saving the Fashion Industry (2020)

Retalon

For the past few years, retailers have been faced with an exponentially growing gap between industry leaders and laggards. A Mckinsey & Company report shows clearly that those who leverage analytics are outperforming their competition by 68%, and the gap continues to widen exponentially. Source: Mckinsey & Company report. Digital transformation in the industry has created additional challenges for retailers to tackle.

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Rethinking E-Commerce Operations In the Face Of COVID-19’s Holiday Season

Retail TouchPoints

Beginning in late July, a number of major retailers announced that they would be closing stores on Thanksgiving Day for the first time in years. Walmart kicked it all off, stating they would be closing their stores on the major U.S. holiday for the first time in 30 years , with many other retailers, including Target, quick to follow their lead. Does this mean the end for Black Friday?

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Macy’s Electric Car Pop-Up Deploys AR For Digital ‘Test Drives’

Retail TouchPoints

Macy’s is expanding its pop-up shop program through a partnership with electric car brand Polestar. Shoppers can now digitally test drive the company’s Polestar 2 at Macy’s Union Square in San Francisco, using AR and VR to see the car in different configurations and environments. The experience is enhanced through the use of atelier tables designed to give the space a workshop-like feel.

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How Donating Masks Created A New Product Category For WestPoint Home

Retail TouchPoints

Growth can be a challenge, particularly when there’s new leadership at a company with brands that date back as far as two centuries as well as wide distribution across mass, department and specialty store and e-Commerce channels. WestPoint Home , a home textiles wholesaler and direct-to-consumer online retailer, is such a company, and CMO Regan Iglesia was eager to take up that challenge when he joined the company less than two years ago.

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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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How Worthy Conquered Mistrust Issues In Jewelry Resale

Retail TouchPoints

COVID-19 has accelerated an already-surging resale market. Consumers stuck at home have had the time to thin out their wardrobes and make room in the garage — along with strong financial incentives to turn their possessions into cash. Studies show how the secondhand market has picked up its pace during the pandemic. According to thredUP ’s 2020 Resale Report , “online thrifting is a bright spot in the broader COVID retail slump.

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CAYIN Technology Enhances Digital Signage With Facial Recognition

Retail TouchPoints

CAYIN Technology , a digital signage solution provider, has partnered with QNAP Systems to integrate facial detection technology with its digital signs. The combined solution is designed to engage shoppers using personalized advertising content based on their age and gender, as well as the number of customers within view of the screen. The solution harnesses QNAP’s QVR Face Tiger to update content on screens in real time.

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LVMH Pulls Out Of $16.2 Billion Tiffany Acquisition, Prompting Lawsuit

Retail TouchPoints

Luxury brand powerhouse LVMH Moët Hennessy Louis Vuitton has called off its planned $16.2 billion purchase of Tiffany & Co. , citing the threat of U.S. tariffs on French goods. However, it’s more likely that LVMH’s cold feet are a result of the battering that the overall luxury market has taken due to COVID-19. There had been signs that the deal, originally announced in November 2019 , was in trouble.

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JCPenney Eyes $1.75 Billion Purchase By Brookfield And Simon Property

Retail TouchPoints

J.C. Penney Company has entered an agreement in principle to sell JCPenney to Brookfield Property Partners and Simon Property Group for $1.75 billion. JCPenney intends to execute a stalking horse asset purchase agreement and auction that will conclude before the 2020 holiday season. The agreement would involve the formation of a separate real estate investment trust and a property holding company, which will include 161. of JCPenney’s real estate assets and all of its owned distribution centers.

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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 Begins Testing Drone Deliveries In North Carolina

Retail TouchPoints

Walmart is launching an on-demand drone delivery pilot in Fayette, N.C. with a focus on select grocery and household items. Orders will be delivered via Flytrex automated drones, which can be controlled over the cloud using a smart control dashboard. The test will help the retail giant gain insight into the customer and associate experience, from picking and packing to takeoff and delivery.

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LVMH To File Lawsuit Against Tiffany, Citing Alleged Mismanagement

Retail TouchPoints

LVMH Moët Hennessy Louis Vuitton (LVMH) plans to file a lawsuit against Tiffany , accusing the jewelry retailer of dishonesty and mismanagement of its operations during the coronavirus pandemic. The company also stated that Tiffany’s own lawsuit , filed in response to LVMH’s cancellation of its $16.2 billion acquisition of Tiffany is “totally unfounded,” and that it has taken the necessary steps for regulatory approval of the merger in a timely fashion.

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Site Speed Enhancements Help The Company Store Handle COVID Sales Surge

Retail TouchPoints

When COVID-19 hit, many consumers sought comfort, from junk food to familiar entertainment choices. These desires proved to be good news for The Company Store : sales shot up 50% during the initial lockdown as consumers flocked to the site that says, “We’re all about comfort.”. Founded in 1911 by Scandinavian immigrants who crafted down comforters, down pillows and down-filled featherbeds to cope with Wisconsin winters, The Company Store still specializes in down, but it has expanded into other

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The Paper Store Emerges From Bankruptcy Under New Ownership

Retail TouchPoints

The Paper Store will emerge from Chapter 11 bankruptcy after less than two months. Retail-led real estate firm WS Development acquired the retailer, which will be added to its 95 -location property portfolio. The Paper Store continued operating uninterrupted during the proceedings and expects to seamlessly transition to its new ownership as it emerges from bankruptcy.

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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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Oculogx Launches A Trio Of Solutions To Streamline Order Fulfillment

Retail TouchPoints

Oculogx , an omnichannel order fulfillment solution provider, has launched a suite of products designed to improve order fulfillment speed and accuracy. The solutions were created for storefronts, warehouses and retail stores, and include wearables for hands-free order picking, real-time order management and analytics, and a mobile fulfillment application.

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Home Depot, Amazon Extend Black Friday Deal Windows For Holiday 2020

Retail TouchPoints

As Home Depot and Amazon approach an uncertain Q4, these retailers are seeking to embrace the extended digital nature of this year’s season. Home Depot is extending its Black Friday deals from early November through the end of December, both in-store and online, and partnering with Pinterest to help shoppers discover DIY gifts. Amazon is reportedly starting its own Early Black Friday deals on October 26 and not restricting discounts to Prime members, according to Tamebay , a publication for mark

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Olivela CXO: Content, Charitable Giving Keep Luxury Consumers Engaged

Retail TouchPoints

The luxury market has taken a significant hit as a result of the pandemic, but some brands and retailers are finding new ways to adapt, respond and thrive. Olivela , a digitally native, mission-based retail platform, is emphasizing its key differentiators as a way to forge stronger relationships with customers and reach new audiences across channels.

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Olivela CXO: Content, Charitable Giving Keep Luxury Consumers Engaged

Retail TouchPoints

The luxury market has taken a significant hit as a result of the pandemic, but some brands and retailers are finding new ways to adapt, respond and thrive. Olivela , a digitally native, mission-based retail platform, is emphasizing its key differentiators as a way to forge stronger relationships with customers and reach new audiences across channels.

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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.