Retail TouchPoints

FEBRUARY 27, 2024

Macy’s, Inc. has unveiled its Bold New Chapter strategy, signaling a major shift for the iconic department store retailer. Macy’s plans to close 150 underproductive nameplate stores — approximately 50 this year alone — and continue its expansion of smaller-format stores as it prioritizes investment in about 350 go-forward locations. Additionally, noting that its luxury banners have been outperforming other divisions, Macy’s will open about 15 Bloomingdale’s stores and at least 30 new Bluemercury

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Inside Retail

FEBRUARY 27, 2024

The median gender pay gap in the retail trade sector is 7.1 per cent – significantly lower than the national industry-wide median of 19 per cent. The majority of Australian employers engaged in retail trade have a policy for equal remuneration, according to Workplace Gender Equality Agency (WGEA) data. Since the passage of the Workplace Gender Equality Act 2012, employers with 100 or more employees have been required to submit an annual report to the WGEA containing remuneration information.

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Retail TouchPoints

FEBRUARY 27, 2024

In the last several years, retailers have increased the speed with which they have built online and mobile app presence. With this evolution into digital sales and the increased use of data mining, retailers are facing unprecedented challenges in digital security. Cyberattacks and network outages can disrupt operations and erode customer loyalty. This article delves into the evolving threat landscape, examining the impact of these disruptions on retail operations and exploring proactive measures

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Inside Retail

FEBRUARY 27, 2024

Footwear business Accent Group has revealed it will end its franchise model for The Athlete’s Foot brand within five years and will not renew franchise agreements at their expiry. The multi-brand business reports its ongoing franchise acquisition strategy “has driven significant operational efficiency and growth for the business over the last six years”.

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Customer Experience

Retail TouchPoints

FEBRUARY 27, 2024

Wawa has launched Goose Media Network, the c-store chain’s retail media network (RMN), to give brands the opportunity to reach Wawa customers online as well as via the mobile app and videos played at the gas pump. Wawa worked with Publicis Groupe’s Publicis Sapient , Epsilon and CitrusAd to create the new offering. “Goose Media Network elevates convenience by delivering offers to customers right where they shop and allows us to build new connections with our customers and partners’ brands,” said

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Retail Wire

FEBRUARY 27, 2024

In a bid to rejuvenate its brand amidst shifting consumer preferences, Macy’s is undergoing a significant makeover with 150 stores set to close.

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Retail Wire

FEBRUARY 27, 2024

Bloomin' Brands is closing 41 of its eateries due to loss in profits and costly improvements.

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Location 279

Retail TouchPoints

FEBRUARY 27, 2024

The non-alcoholic beverage (NA) market is projected to reach $176.7 billion in 2024. With a compound annual growth rate of about 25% , this category is poised to reach $426.2 billion in revenue by 2028. Big name alcoholic beverage players such as Anheuser-Busch and Diageo will be fighting to get a piece of this pie by bringing new products to market, especially with U.S. wine and beer sales declining and spirit sales barely seeing growth.

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Wholesale Fulfillment Consumer Specialty Retailers 264

Retail Wire

FEBRUARY 27, 2024

Kellogg's CEO, Gary Pilnick, recently suggested a thrifty solution to combat soaring grocery bills: eat cereal for dinner. During an interview with CNBC, Pilnick emphasized the affordability of cereal compared to other meal options, noting its suitability for cash-strapped consumers.

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Consumer 189

Retail TouchPoints

FEBRUARY 27, 2024

Digital Brands Group, Inc. (DBG), which has a portfolio of luxury lifestyle brands such as Bailey 44, DSTLD and Sundry , plans to open its first retail store in Dallas. Located at the Simon Premium Outlet Mall in the Dallas suburb of Allen, Texas, DBG will use the store to clear excess inventory it acquired with its Sundry acquisition, which was completed January 2023.

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Wholesale Location Planning ATS 264

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Accounting

Retail Wire

FEBRUARY 27, 2024

To celebrate Leap Day this year, Krispy Kreme has something sweet in store for its customers.

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Retail TouchPoints

FEBRUARY 27, 2024

Olfactory NYC has ventured inside the Beltway for its latest store, which will open in April. The brand, founded in 2017, has three stores in New York City and one in Boston. The Olfactory NYC store experience is designed to eliminate the guesswork behind choosing — or even creating — a signature scent. When visiting a studio, customers can smell and select from nine core gender-neutral fragrances that they can then further customize to their wants and preferences.

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Customer Experience ATS 262

Retail Focus

FEBRUARY 27, 2024

With retailers removing best-before dates to reduce food waste, UK consumers still want supermarkets to offer discounts on goods nearing expiry, according to the latest data from Retail Insight , the leading provider of store operations execution software. With WRAP estimating the UK retail sector was responsible for 200,000 tonnes of food waste last year, supermarkets including Asda, Tesco, Sainsbury’s and Waitrose have already opted to remove best-before dates from fresh fruit and veg in a bid

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Retail Wire

FEBRUARY 27, 2024

Online retailer SHEIN is scoping out the option of moving its initial public offering to London instead of New York due to challenges related to the listing in the U.S.

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Customer Experience

Retail Focus

FEBRUARY 27, 2024

Asian grocery store, Tian Tian Market , which opened in Wembley Park earlier this month (February 2024), has reported a 30% surge in foot traffic over the Lunar New Year weekend, compared to average weekday figures. Tian Tian signed a 15-year lease with Quintain for the 4,268 sq. ft unit and has enjoyed footfall exceeding all expectations for the entire month of February.

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Inside Retail

FEBRUARY 27, 2024

Ikea Australia has launched Ikea Kreativ, a free mixed-reality experience powered by AI that provides customers with a simple and intuitive method to design and rethink their living environments. Customers can use Ikea Kreativ to scan their living space, remove some or all of the current furnishings, then drag and drop Ikea furniture and home decor to experiment with new styling options.

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Retail Focus

FEBRUARY 27, 2024

Pricer , a global leader of in-store automation and communication solutions, has today announced a strategic partnership with PaperShell , a high performance material innovation, in a move towards including more sustainable materials within Pricer’s Electronic Shelf Labels (ESLs). With original research of over 1,000 shoppers by Pricer showing that despite the cost-of-living crisis, 53% of consumers and 66% of Gen Z are now sustainably minded when shopping, meeting customers’ sustained demands

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Green Retail Consumer Shopping ATS 147

Inside Retail

FEBRUARY 27, 2024

The path to purchase is complex. It is getting harder to turn visitors into buyers and consumers are overwhelmed with choices. However, by embracing personalisation and optimising the timing and content of communications, retailers can have a better chance than their rivals of converting visitors across any channel into repeat customers. Braze is a cloud-based customer engagement platform designed to help businesses of all sizes manage customer interactions to improve product experience, retenti

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Advertiser: Experience Retail Today

I’m getting in touch with the news that fashion retailer, Gina Trictot, has achieved 98% inventory accuracy thanks to its partnership with SML RFID. Please see the full press release below, including exclusive quotes.

Fashion

Retail Wire

FEBRUARY 27, 2024

Boeing, a well-known name in aviation, faces a critical evaluation from a recent report commissioned by the Federal Aviation Administration (FAA). Released on Monday, the report highlights substantial shortcomings in Boeing's safety culture, indicating a profound need for significant improvements.

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Inside Retail

FEBRUARY 27, 2024

Bayfair Shopping Centre has been at the forefront of sustainability efforts in New Zealand for the last two decades. Now, the retail hub has been certified with a four-star green performance rating by the New Zealand Green Building Council and, in turn, become New Zealand’s most sustainable shopping centre. One of the key initiatives that warranted the centre’s green-star rating was its innovative waste management system, which diverts 56 per cent of waste from its 440-seat food court away from

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Shopping Management ATS 130

Retail Focus

FEBRUARY 27, 2024

In recent years, CBD vaping has surged in popularity as a means of enjoying the potential health benefits of cannabidiol in a convenient and enjoyable manner. With its rise, however, comes a myriad of questions and considerations for those exploring this alternative wellness option. From understanding the basics of CBD to choosing the right vaping device and dosage, navigating the world of thc vape uk requires a nuanced approach.

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Promotions Management Consumer 130

Inside Retail

FEBRUARY 27, 2024

The latest findings from the British Retail Consortium (BRC) cast a stark light on the escalating crisis of retail crime in the UK, painting a sobering picture of its impact on both businesses and communities. According to the BRC’s recent press release , incidents of retail crime have surged to alarming levels, with a myriad of offences ranging from theft and fraud to violence and organised crime.

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Accounting ATS 130

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Wholesale

Retail Wire

FEBRUARY 27, 2024

Apple is reportedly winding down its electric car project, Special Projects Group, marking the end of the company's ambitious attempt to develop an EV to rival Tesla.

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Inside Retail

FEBRUARY 27, 2024

This week, Macy’s announced plans to shut down 150 “underproductive” stores, more than one-fifth of its department store assemblage, over the next three years. This also includes Macy’s San Francisco flagship in Union Square, a 400,000-square-foot property that has been one of the city’s iconic storefronts since its opening in 1947. The closures are a part of the retailer’s plan “to create a more modern Macy’s, Inc. that is expected to generate meaningful value for our shareholders in the

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Department Stores Location Finance Planning 130

Retail Wire

FEBRUARY 27, 2024

Netflix customers who pay through Apple's App Store could soon be directed to change their payment method to prevent losing access to their account on the platform.

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Accounting 130

Retail Gazette

FEBRUARY 27, 2024

Homebase racked up heavy losses last year, as it claimed customers had been “cautious” with their spending. The business reported an £84m loss in the year to January 2023, from a profit of £30m the year prior, according to accounts viewed by The Times. Sales also plummeted from £788m to £701m during the period. Describing 2022-23 as a “challenging year for Homebase and retail,” the retailer said: “Customers were cautious in their spending, our costs increased signif

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Accounting Marketing Consumer ATS 119

Speaker: Jennifer Wright and Nick Barron

2025 is right around the corner, and with it comes a new wave of consumer expectations, competitive pressures, and operational challenges. Success lies in finding the balance between operational flexibility and creating experiences that keep customers coming back. The future of retail belongs to those who can stay ahead of shifting customer preferences and marketing trends. 🔮 In this session, we’ll dive deep into what it takes to keep customers engaged and your operations nimble, no matt

Customer Experience

Retail Wire

FEBRUARY 27, 2024

Travel giant Expedia is cutting 1,500 jobs, or roughly 9% of its workforce, throughout this year as it invests in the company's growth.

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Retail Gazette

FEBRUARY 27, 2024

Shop price inflation dropped for the second consecutive month in February, hitting its lowest point of annual growth since March 2022. The latest BRC-NielsenIQ Shop Price Index found annual shop prices were down to 2.5% for the month, compared to 2.9% in January, putting them under the three-month average of 3.3%. Food inflation slipped 5.5% in February, compared to 6.1% in January, marking the tenth consecutive monthly drop in the category.

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Retail Wire

FEBRUARY 27, 2024

Shares of Lowe's have seen an uptick following the release of its fourth-quarter report.

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Marketing 130

Retail Gazette

FEBRUARY 27, 2024

Homebase is up for sale for the second time within four years, with discussions recently being held with various potential buyers. Restructuring company Hilco Capital, which purchased Homebase for £1 in 2018, is thought to have been involved in talks with various parties, such as B&M European Value Retail and The Range. Insiders have indicated the home improvement company’s intellectual property, brand name, and UK and Ireland stores could be broken up and sold by its new owners.

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Finance Fashion Shopping 115

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