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With the holiday season just concluded, the challenge of managing merchandise returns is a reality for many retailers. According to the latest data from the National Retail Federation (NRF), merchandise returns are projected to reach an astounding $890 billion in 2024, accounting for approximately 16.9%
The department store chain noted incurring higher employee costs, higher support office costs related to a new marketing agency and a separate investment in transformation capabilities. “In a year of transition, we remain focused on executing our strategic plans to drive growth and attractive shareholder returns.”
Amazon’s summer Prime Day sales event now serves to kickstart many retailers’ summertime sales and back-to-school marketing efforts, and is generally pivoting marketers’ planning calendars. And now, brand marketing teams wonder if the holiday marketing calendar has been elongated too.
During the pandemic, ecommerce returns majorly impacted retailers profit margins. As customers return to in-store shopping, retailers are continuing to face an increase in returns from online and in-store sales. This holiday season, consumers who frequently make returns may be in for a surprise.
One of the biggest challenges for any B2B marketer is understanding your prospects’ next move — who is most likely to buy and when. Without these insights, marketing campaigns can feel more like guesswork, with high investment and little return. We’re here to tell you there’s a better way.
Total returns are projected to reach $890 billion in 2024, up from the estimated $743 billion of merchandise returned in 2023 , according to a new report from the National Retail Federation and Happy Returns , a UPS company. This would account for 16.9% of retailers’ annual sales in 2024, increasing from 14.5%
“VNCE is the perfect partner for P180; the brand’s dominance in the luxury contemporary market aligns seamlessly with our acquisition strategy, said incoming Vince CEO and P180 Co-founder Hoffman in a statement.
Retail media allows brands to target shoppers at or near the point of purchase, leveraging a retailers first-party data to deliver relevant, conversion-focused marketing. Your marketing and category teams may find themselves juggling media sales and execution alongside their day jobs, so they are going to need extra resources.
Whether its attacks on our public lands or basic human rights or volatility that were all still feeling around tariffs , the uncertainty around things like consumer confidence and the stock market its been a lot.
Any return to normalcy may seem far-off, but sales and marketing are on the front lines of restarting the economy. However, there’s no team better suited to lead that charge than the marketing department. Most have already sustained massive damage, and we still have yet to see the scope of this global pandemic.
Indian retail conglomerate Reliance Retail has introduced an app in India to sell Sheins fashion products through a licensing agreement, marking the Chinese brand’s return after a five-year ban due to diplomatic tensions. According to Westphal, India’s fast fashion market features a diverse mix of international and local brands.
But reaching them requires more than flashy social campaigns or discounts theyre more resilient to being marketed to as well as ham-fisted attempts to study them. Retailers must reflect this diversity in their marketing. The ease of online shopping is partly driven by flexible return policies.
After a four-year hiatus, G-Star Raw is poised to re-establish its presence in Australia and New Zealand, emerging from a turbulent chapter in the market. The Australian arm of the Dutch-founded denim giant, established in 1989, collapsed into voluntary administration in early 2020 as the advent of covid engulfed the market.
Better demand forecasting with AI Using AI algorithms to analyse historical sales data, seasonal trends and other market factors can help retailers predict future demand with higher accuracy. Using AI for returns optimisation Another growing supply-chain issue for retailers is returns. per cent vs 10 per cent).
With vaccination rates rising, consumers spending more money, and people returning to offices, the job market is going through a period of unprecedented adjustment. Businesses are looking to hire quickly, but they face a disjointed market. As the New York Times observed, “It’s a weird moment for the American economy.”
The Poltronesofà group operates over 310 stores across Europe and is the market leader in both Italy and France, with a market presence in Belgium, Switzerland, Malta and Cyprus. Poltronesofà acquired ScS to enter a key market and support the next stage of its development, providing the capital needed to accelerate its ambitions.
Dillards has been executing a highly successful strategic plan focused on improving operating margins, prudently managing capital expenditures and aggressively returning capital to stockholders, said James Mitarotonda, Chairman of Barington in a statement. Since fiscal year 2014, Macys has spent $9.7
YoY in its fiscal Q3, which ended May 3, marking a return to year-over-year revenue growth after several years of declines. This differentiation is key to us gaining market share.” Subscription styling service Stitch Fix reported a revenue increase of 0.7% YoY in Q3 to $542 per client.
These networks enable targeted marketing, allowing retailers to deliver personalized offers that boost conversion rates. Additionally, retailers gain valuable insights into customer behavior, enabling effective marketing campaigns that attract new customers and re-engage lapsed ones.
Enter conversational marketing — the new paradigm to tackling your business deals and converting prospects in minutes. Studies show the return on investment (ROI) of conversational marketing helps your marketing team drive revenue.
The retailer is offering free returns on all Amazon Haul purchases over $3 within 15 days of delivery, and shoppers can drop off these returns at more than 8,000 drop-off locations, including Amazon Fresh, Whole Foods Market, UPS, Staples and Amazon Lockers.
According to PwC, businesses that reduce friction for consumers and empower all employees to make things right whether through returns, price adjustments or other policies bring higher customer satisfaction and more forgiveness. Delivering a smooth and frictionless post-purchase experience should be a top priority for every retailer.
Brands like Currys, Kwik Fit and Bensons for Beds have realised that for their best chance of differentiation, they should return to the truth of what made their image successful in the first place their employees. Employee-centric communications were relegated to the scrap heap of advertising. But now, there has been a renaissance.
In the age of omnichannel retail and ever-expanding social media channels, retail marketing has never been more complex than it is today. Effective techniques to drive loyalty in 2025 Over the past few years, True Religion has grown exponentially, and marketing has played a pivotal role in the brands transformation, DArcy explained.
Speaker: Kelly Barner - Co-Founder & Managing Director of Buyers Meeting Point, LLC
It was followed by port blockages and congestion, strikes among truck drivers and railway workers, a major recall and plant closure that led to a disastrous baby formula shortage, concerns about the future of semiconductor availability, turbulence in the ESG investment market, and much more. What will 2023 bring?
Earlier this month, Asda’s market share tumbled further, dropping one percentage point from 13.5% Commenting on Leighton’s return to the supermarket giant, Grocery Insight CEO Steve Dresser notes: “I don’t think anyone could have foreseen it. as sales fell 5.5% in the 12 weeks to 3 November.
The digitalisation of media has seen advertising budgets diverted towards social media campaigns and search engine marketing in Australia, 70 per cent of digital advertising spend goes to Meta and Google. For many retailers, these platforms have grown to consume the whole marketing funnel and their templated options have become the default.
Australia and New Zealands leading pureplay online fashion, lifestyle and sporting destination has had a year of evolution; with seemingly smooth transitions overhauling the businesss order warehouse management system (OWMS), building a new B2B platform business and tackling the intricate returns issue. So of that, whats actually bracketing?
Heavy online marketing spending by Temu and Shein is making it more costly for other retailers and brands to reach shoppers on Black Friday, marketing and industry experts say, with both platforms bidding heavily on search keywords used by competitors. Shein did not immediately reply to a request for comment.
A strong employer brand is an asset in the highly competitive retail job market, helping companies stand out and hire the best candidates. Creating Brand Advocates In the competitive retail job market, using employee stories as part of an employer brand is a powerful way to stand out.
We wanted to ensure our Roblox update would create strong reach and impressions for our target youth market,” the Clarks marketing team said in a statement to Retail TouchPoints. Clarks has seen “incredible success” on the platform, according to the brand’s marketing team, generating the following results: 16.2+
Experts from retail marketing consultancy Gekko have utilised their GWS Price Analysis Tool to do the heavy lifting, crunching the numbers to analyse average prices in categories including consumer electronic products and household goods, across major retailers, including AO, Argos, Currys, Harvey Norman, and John Lewis.
As of December 29, 2023, all cosmetics marketed in the U.S. For retailers, sourcing only MoCRA-compliant products is essential, as non-compliance risks customer complaints and returns, inventory issues, negative media coverage and potential lawsuits. Some exemptions do apply. David Lennarzis President at RegistrarCorp.,
Key Takeaways High Return Categories: Apparel, electronics, home goods, and beauty products are among the most returned items due to sizing issues, defects, and customer dissatisfaction. Quality Control: Ensuring product quality through rigorous checks can significantly reduce return rates and enhance customer trust.
“The owners have done everything they can to keep Jeanswest going, but market conditions mean sustaining brick-and-mortar stores is not viable and unlikely to improve,” he said. “We will be opening the doors of all stores and selling online to clear all stock to secure a return to creditors,” Bainbridge said.
In-store AI touchpoints are also being embraced in the burgeoning resale market. For Kennedy, the next evolution of resale is happening at the store level through smart kiosks and self-serve authentication points that eliminate ambiguity at the moment of purchase or return. Resale isn’t a niche anymore, it’s mainstream commerce.
For mid-market companies that may not have the budgets and resources to compete with larger, multinational brands, data is the key to success. Heres how RMNs are helping mid-market brands stand out, inspire shoppers and, ultimately, get in the basket during the busy holiday shopping season and beyond.
It’s not easy to be a mid-market retailer in Australia right now. There is increased competition from e-commerce players, the local market and major international brands. Our numbers continue to get better and better when technically the market remains challenging. We’re a mid-market Aussie retailer.
Kantar reported that the market share for the UK’s third largest grocer now sits at 12.6%, down 1.1% Asda’s weak performance contrasts discounter rivals Aldi and Lidl, both of which gained ground during the period in both sales and market share terms. during the period, which helped to bump its market share up 0.1
And some seven years on, much to the dismay of retailers, it is now starting to shake the tree and become a real force in the market , as Australian shoppers increasingly turn to alternatives to manage the cost-of-living crisis. billion in gross merchandise volume (total spend before fees, discounts and returns) up from $4.5
In addition to rapid advances in AI that have brought the technology into the mainstream, Stitch Fix also has struggled to maintain its first-mover advantage in the world of subscription fashion, with a host of new entrants pulling away clients and market share. explained Funderburk.
These insights also can support brands retail media strategies , which 53% of respondents added to their marketing and advertising mix over the past year. Partnering with a marketplace also means brands dont have to manage the returns process, which is another growing challenge. According to Emarketer , U.S. in 2024 to $52.3
Customer profiles that are correct, current and enhanced with demographic and geographic data allow organizations to personalize communications, optimize marketing efforts and uncover new customer prospects. Ecommerce businesses can better understand and serve their clientele when interactions are powered by clean customer data.
Kogan has returned to strong top-line growth in the fiscal first half, which was fuelled by solid holiday sales. A strategic decision to invest incremental profitability in marketing and promotional activity from November helped the company to achieve accelerated topline growth, the company elaborated. per cent increase year-on-year.
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