The state of digital customer experience | MarTech
The retail industry is experiencing significant digital transformation, highlighting the importance of technology, data, and maintaining a human touch in digital experiences. [ more ]
Allbirds and Outdoor Voices wanted to be the next Nike and Lululemon. Here's what went wrong
Direct-to-consumer (DTC) brands are facing challenges in achieving profitability despite significant investments.
Struggles of pioneering DTC brands like Allbirds and Outdoor Voices highlight the pressure for growth and the need for a sustainable business model. [ more ]
Shopify boosts its commerce platform with 'Magic' image editor and other AI enhancements
Shopify has introduced over 100 new updates to its commerce platform, with AI emerging as a key theme.
The new AI-powered capabilities include Shopify Magic for generating product descriptions and Smart Sidekick for providing personalized recommendations. [ more ]
What role will technology play in the future of African retail?
The future of retail is an exciting and ever-changing landscape.With technology revolutionizing the way consumers shop and interact with brands, the retail industry is on the brink of a major transformation.In the coming years, retailers will need to be more agile and adaptive to keep up with the ever-changing demands of customers.
Analysis | The Pet Pandemic Boom Is Well and Truly Over
As investors look for signs of cooling inflation, there is one discretionary purchase that is firmly in deflation: pets.Prices of our furry friends have slumped over the past year as demand has fallen with people returning to offices and rising costs pinching wallets.The pandemic pet boom is well and truly over.
Analysis | Consumers in the US and Europe Will Diverge in 2023
What to expect in 2023:For the past two years, I've been tracking what I like to call the "Great Rotation."This is the shift away from pandemic purchasing trends to consumption associated with reopening.In 2022, the Great Rotation met the "Great Inflation" - the change in habits as consumers in the US and Europe adapted to higher prices.
John McCracken says he was shocked when he recently spotted a new sign at his local Loblaw-owned Superstore just outside Halifax, warning customers the store was conducting receipt checks when shoppers exit."I was really disgusted.I thought it was really adding insult to injury after all the price gouging," said McCracken, referring to claims Loblaw has inflated grocery prices which the retailer denies.
Pathmatics names Facebook top platform for digital advertisers
Pathmatics has revealed that social media is set to dominate advertising trends for the year ahead.This comes as the digital marketing intelligence platform has invested heavily in its platform to better understand the use of social media by launching mobile app-specific panels in Australia for Instagram, Snapchat and TikTok to complement its Facebook insights that have existed since January 2020.
Facebook still reigns for advertisers as Meta takes nearly 90% of social budgets: Pathmatics
In the past 6 months Facebook landed 63% of social media budgets across Australia's top 20 digital advertisers, according to new figures from Pathmatics, while Instagram took 27%, TikTok 7% and Snapchat 3%.This means Facebook and Instagram's parent company, Meta, netted close to 90% of the social media budgets across those advertisers.
Analysis | Inflation Peaking Is Great for Us, Terrible for Grocery Stores
A shopper removes bags from a trolley outside a J Sainsbury Plc supermarket in Godalming, UK, on Tuesday, Jan. 10, 2023.Sainsbury's are due to release a trading update on Wednesday.(Photographer: Bloomberg/Bloomberg)Inflation isn't killing food retail.But prices peaking this year might prove to be the bigger challenge.
Analysis | Holiday Discounts Have Outlived the Holidays
HOUSTON, TEXAS - DECEMBER 13: A makeshift discount ornament is displayed on a Christmas tree at a Macy's department store at the Galleria Mall on December 13, 2022 in Houston, Texas.Consumer prices moderated in November after coming off a four-decade high earlier this year.(Photo by Brandon Bell/Getty Images) (Photographer: Brandon Bell/Getty Images North America)With the festivities done, we are clearly in hangover territory.
Analysis | Black Friday Deals Couldn't Soothe Anxious Shoppers
Shoppers at the Somerset Collection Mall on Black Friday in Troy, Michigan, US, on Friday, Nov. 25, 2022.US retailers are bracing for a slower-than-normal Black Friday as high inflation and sagging consumer sentiment erode Americans demand for material goods.(Photographer: Bloomberg/Bloomberg)Black Friday looked a little gray this year.There's mounting evidence that consumers, drowning in discounts since the summer, are exhausted.
Analysis | The Consumer Economy Is Starting to Crack Under Inflation
What will fit?(Photographer: Bloomberg/Bloomberg)Shoppers on both sides of the Atlantic are under intense pressure from inflation.So far, sales of everything from luxury goods to laundry detergent have been better than expected.But cracks are already emerging in demand - and these are set to intensify as winter draws in.
Analysis | Big Tobacco's Investment in Juul Is Going Up in Vapor
Juul Labs Inc. had already slipped from Altria Group Inc.'s crown.Now the tobacco company's investment in the e-cigarette maker could receive a further setback.
It would be an understatement to say that 2022 has not been kind to Amazon investors, who have watched the e-commerce giant's stock lose almost 50% of its value.In fact, after its big run-up during the onset of the pandemic, Amazon stock has been a bit of a bummer to own, first going nowhere in 2021 and then collapsing this year.
Analysis | Prada's New CEO Takes the Reins at a Delicate Time
Shoppers looks in a window at the Prada SpA boutique in Galleria Vittorio Emanuele II shopping center in Milan, Italy, on Saturday, Dec. 3, 2022.The Italian Statistics Institute are due to release their latest retail sales figures on Dec. 7. (Photographer: Bloomberg/Bloomberg)Prada SpA has begun the process of handing over leadership to the next generation of its controlling family.
Analysis | Will Prada's New CEO Rupture Its Gen Z Revival?
Shoppers looks in a window at the Prada SpA boutique in Galleria Vittorio Emanuele II shopping center in Milan, Italy, on Saturday, Dec. 3, 2022.The Italian Statistics Institute are due to release their latest retail sales figures on Dec. 7. (Photographer: Bloomberg/Bloomberg)Prada SpA has begun the process of handing over leadership to the next generation of its controlling family.
Why Playing It Safe Is the Riskiest Strategic Choice
Steve Dennis is a renowned retail influencer and author, known for his expertise in strategic advising and customer growth in the retail sector.
HBR Learning offers online leadership training courses like Strategy Planning and Execution to help individuals enhance their skills and advance their careers. [ more ]
Here's one Japanese store's enterprising method of selling broken Intel chips - for less than $5
Selling broken Intel chips from a Gacha machine provides a quirky, low-cost alternative for consumers and a means for retailers to recoup cash. [ more ]
Is London pricing itself out of the property market?
London's soaring property prices are affecting businesses, leading to closures in the retail, entertainment, and food industries.
Factors beyond property prices, such as the trend of home entertainment and the digital transformation of the casino industry, also impact business closures. [ more ]
These three London Primarks are getting massive makeovers - with one doubling in size
Primark is investing £100 million in upgrading 15 stores across the UK, including doubling the size of its Westfield Stratford location.
The investment is a move to strengthen Primark's presence on the UK high street and demonstrates the retailer's commitment to the local market. [ more ]
Consumer Goods & Retail Expert Jean Louis Delamarre Joins Zeotap as Senior Advisor & Shareholder
Jean Louis Delamarre joins Zeotap as a senior advisor and shareholder, focusing on strategic partnerships with major international retailers.
Delamarre brings extensive experience in brand building and retail expansion to Zeotap, aligning with the company's vision to win retail market share. [ more ]
Stores are increasingly using aggressive loss-prevention measures like locking up items and implementing security gates.
Retailers acknowledge that anti-theft measures can impact sales and are exploring technologies that allow a positive shopping experience while controlling inventory. [ more ]
HBC laying off 250 people in latest round of cost cutting | CBC News
Hudson's Bay is laying off another 250 workers, the second round of cutbacks this year.The Canadian retail arm of Hudson's Bay Co. says the layoffs will impact corporate roles and brings the total number of employees laid off this year to about 500.None of the job losses have affected retail workers at Hudson's Bay's 84 department stores across Canada.
Are we getting a ginormous mall with a ski slope? What to know about American Dream Miami
The American Dream Miami project aims to build the largest mall in the country, offering a mix of retail stores, restaurants, and entertainment options.
Despite being announced in 2015, ground has not been broken for the American Dream Miami mall, facing delays in its development timeline. [ more ]
Bright and beautiful: lamps are the new living room status symbol
The trend for 2024 in interior design is side lights and table lamps, with secondhand homeware platforms reporting a significant increase in lamp sales.
Major retailers are expanding their lighting departments to meet the growing demand for table lamps, wall lights, and lampshades. [ more ]
Popular stores like L'Occitane and Sephora are closing at the former Westfield San Francisco Centre.
New mall owners are rebranding the center to Emporium Centre San Francisco and planning to revitalize it with experiential, entertainment, and food-focused tenants. [ more ]
Iconic San Francisco toy store that inspired 'Toy Story' films closing after 86 years over 'perils and violence' in city's downtown
San Francisco's oldest toy store, Jeffrey's Toys, is permanently closing due to the city's widespread crime and violence problem.
The store has been struggling for years due to multiple factors including downtown environment, inflation, decreased consumer spending, and the demise of retail. [ more ]
Nike's influence is wavering due to diminished appeal among young consumers, rising competition, and questionable retail strategies.
Competitors like Adidas, Lululemon, and Deckers are experiencing significant growth, while Nike's stock price has declined by roughly 20% in a year. [ more ]
New York City Has Lost Tens of Thousands of Retail Jobs, Report Finds
The retail industry in New York City has shed thousands of jobs since the pandemic, even as the rest of the job market has almost fully recovered, according to a new report released on Thursday from the Center for an Urban Future, a public policy think tank.The study found that in the three years since February 2020, New York City lost 37,800 retail jobs, an 11.1 percent decline, while the overall private employment sector has regained all but 0.8 percent of jobs.
Vegan Fried Chick*n Company VFC Expands US Retail Footprint, Launching in Raley's Supermarkets
VFC - the UK-founded, bold vegan fried chick*n brand and trailblazer in vegan chick*n protein, today announced an exciting milestone in the company, with its expansion across the US retail industry, launching in the American grocery store, Raley's.The launch taps into the growing consumer demand for vegan and plant-based protein alternatives.
Retail, CPG brands attempt to cash in on Super Bowl spots
Francis Scialabba Stay up to date on the retail industry All the news and insights retail pros need to know, all in one newsletter.Join over 180,000 retail professionals by subscribing today.While Eagles fans are still licking their wounds, retail and CPG brands are reaping the rewards from their 2023 Super Bowl ads.
The secret behind building Instagram's favorite luxury lifestyle brand
Simon Miller Scrolling through Instagram these days seems like walking through a maze of sponsored content and posts you don't necessarily care about.Being a brand, especially a fashion brand, that can stand out in this tsunami of content can be tough.But that's where California-based luxury womenswear brand Simon Miller shines the most.
Adidas is looking to repurpose unsold Yeezy products. Here are some of its options
An Adidas store stands in Manhattan on October 25, 2022, in New York City.The company is facing big losses after terminating its relationship with Kanye West.Spencer Platt/Getty Images When Adidas cut ties with Ye, formerly known as Kanye West, over the rapper's antisemitic remarks, the sportswear giant quickly had another problem on its hands: what to do with all of its merchandise associated with Ye, branded as Yeezy.
The way people shop has changed in recent years.Some have signed up for subscriptions.Others have gotten rid of them.Some have tried selling their used stuff for the first time.Others have tested out what it is like to rent items.During the pandemic, many retailers whether established names or Silicon Valley start-ups were forced to think differently about their business models and adjust the type of services they offered.
The Tories know the game is up, even if the City of London doesn't
Economic menus have rarely sounded so bland.A mild recession in 2023, followed by a fall in inflation and, for dessert, a return to modest growth.The current consensus view among City economists of next year's overarching economic outlook would appear to be fairly benign, compared with the Armageddon promised by the Truss/Kwarteng fiasco of a few months ago.
Biden, family hit Nantucket stores for some holiday shopping
Politics Biden, his wife, Jill, and daughter Ashley went from store to store on Main Street in downtown Nantucket.NANTUCKET, Mass.(AP) - President Joe Biden went holiday shopping on the Massachusetts resort island where he spends Thanksgiving, patronizing smaller independently owned stores on what the retail industry has called "Small Business Saturday."
Biden, family hit Nantucket stores for some holiday shopping
NANTUCKET, Mass.President Joe Biden went holiday shopping on the Massachusetts resort island where he spends Thanksgiving, patronizing smaller independently owned stores on what the retail industry has called Small Business Saturday.Biden, his wife, Jill, and daughter Ashley went from store to store on Main Street in downtown Nantucket, lingering at Polo Ralph Lauren, Murray's Toggery Shop and The Black Dog, among other establishments.
Analysis | Black Friday's Blowout Bargains Smell Musty This Year
Your Black Friday bargain is most likely spring's leftover sweatpants.American retailers have too much stock of everything from toys to women's casual tops.While the markdowns will be welcomed by many cash-strapped shoppers, the holiday deals underline companies' struggle to work through bloated inventories pressuring their profits.
Analysis | Tom Ford Is Now Estee Lauder's Big Fashion Challenge
Estee Lauder and Mac displays at a Nykaa store in New Delhi, India on Saturday, July 30, 2021.Nykaa has grown into India's top e-commerce site for beauty products, with the endorsement of Bollywood stars and a fervent following among twenty-somethings.The startup filed preliminary documents on Aug. 2 for an initial public offering, which Bloomberg News has reported could value the business at more than $4 billion.
Analysis | Where Should Brits Invest Now? Think Jumpers and Duvets
Whether porridge sales actually increase will be worth watching.Kingfisher Plc said sales of insulation at its B&Q DIY chain in the three weeks to Sept. 17 were up 82% from last year, and were 110% higher than 2019.Elsewhere, retailers report surging sales of cozy pajamas, dressing gowns and sweaters.Although the prospect of a freezing midwinter might boost sales of electric blankets now, customers may ultimately have less money to spend on the things they want.Last week alone, the department store doubled its sales of women's dressing gowns, snuggly tops and onesies compared with last year.
"Never the same again" was the name Marks & Spencer Group Plc gave to its effort to transform in the wake of Covid-19.But perhaps "Never had it so good" would have been more apt.