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Ikea launches AI-powered mixed-reality experience

Inside Retail

This is a significant investment for Ikea in cutting-edge digital AI technology which is market-leading for a home furnishing retailer in Australia,” said Giovanni Rutigliano, Ikea Australia’s digital manager.

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Retail appointments of the week

Inside Retail

Kulle said he was honoured to take up the role, and that he is excited to help drive international momentum in the business’ US launch, as well as help turn it into a global leader in home furnishings.

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John Lewis signs deal with Tesco for warehouse space in online sales push

365 Retail

The agreement with the supermarket for the site, at Fenny Lock in Milton Keynes, will run for 11 years and will help the department store’s push away from stores and into web sales, which jumped from 40% to 60% of sales during the pandemic. The site is four miles from the retailer’s largest distribution hub, which is two million square feet.

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After Wilko’s demise, what’s next for the value sector?

Retail Gazette

It’s a formula that’s been mastered by TK Maxx for the last 29 years, with a typical shop stocking everything from fashion, handbags and accessories to cooking utensils, stationery and home furnishings at – more often than not – significantly reduced prices. But it wasn’t just pricing that saw Wilko fall out of favour.

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What is Inventory Turnover in Retail? (Formulas, Benchmarks, Examples)

Retalon

As a retailer, effectively managing your inventory is critical to the success of your business. It indicates how efficiently inventory is managed and whether excess inventory is tying up too much capital. This indicates strong sales and effective inventory management practices. Grocery stores overall turnover steadily at 15x.

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5 Examples of the Store of the Future

Indigo 9 Digital

The Chinese eCommerce giant made a move into physical retail in 2016 by opening a chain of futuristic supermarkets called Hema or Freshippo in English. This allows us to offer more selection without requiring customers to sift through racks to find that right color, size and fit,” said Simoina Vasen, managing director of Amazon Style.

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We’re Living in the Age of Conscious Consumerism

Rangeme

MIT Sloan Management Review. Supermarket News. IKEA is phasing out non-rechargeable alkaline batteries from its home furnishings, encouraging customers to reuse and recycle items, and will no longer print its iconic catalog. MIT Sloan Management Review. Supermarket News. 2 Mummalaneni, Simha and Jonathan Z.