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REI Shutters Experiences Business that was Losing Millions Annually, Cuts 400+ Jobs

Retail TouchPoints

After 40 years of providing adventure travel, day tours and classes, outdoors retail co-op REI will shut down its Experiences business, which had been losing millions of dollars every year and was being subsidized with profits from other parts of the business, according to a statement from CEO Eric Artz.

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7-Eleven Plans 500 New ‘Food-Forward’ Stores by 2027

Retail TouchPoints

The “New Standard” stores will be larger than traditional 7-Eleven stores and will include expanded fuel offerings as well as digital innovations to support more frictionless shopper journeys. The c-store giant’s road to the new store design began with its Evolution store format, which was launched in March 2019 with a store in Dallas.

Planning 277
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Inside Best Buy’s 5-Year Effort to Evolve with Today’s Consumer

Retail TouchPoints

Its a tenet that the companys latest CEO, Corie Barry, kept front of mind as she took the helm in 2019 , throughout the upheaval of the pandemic and into today. That is what Barry has spent the last five years doing.

Consumer 287
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AI in CX Innovation and Journey Management: Key Insights for Retail Business Leaders

Retail TouchPoints

Retailers that take a journey management approach can bridge the gap between data and action, ensuring insights lead to real improvements in efficiency and customer experience and drive bottom-line results. Finally, many retailers operate in a siloed manner. Thats where journey management comes in. What is Journey Management?

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Exclusive Q&A: B2B Cruise Retail Player Comes Ashore to Support Resort-Based Luxury

Retail TouchPoints

Stacy Shaw: I joined the company in 2019 to create a luxury division; Starboard had been discussing this as a strategic move even back then. She revealed Starboard Groups sometimes twisty path to land-based retail and the strengths it brings to the luxury retail space.

Shipping 278
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GameStop Will Close Up To 450 Stores In Fiscal 2020

Retail TouchPoints

Comparable store sales declined 12.7% , even with an 800%. GameStop attributed the losses to a 13% reduction in total store operating days due to COVID-19 shutdowns, as well as a 10% reduction in its store base as part of the de-densification strategy. For the three months ended Aug. rise in global e-Commerce sales.

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Kohl’s Expands Return Services for Additional Brands and Retailers

Retail TouchPoints

The retailer has partnered with Inmar Post-Purchase Solutions and Narvar to provide shoppers with package-free, label-free returns in its 1,100+ stores nationwide. Kohl’s has years of experience in this area; the retailer partnered with Amazon in 2017 to accept returns for the ecommerce giant, expanding the service chainwide in 2019.

Returns 304