Wed.Apr 24, 2024

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Coles taken to task over ‘discount’ promotions consumers don’t understand

Inside Retail

Coles has the most confusing promotional labels, consumer advocacy group Choice said as it calls for supermarkets to make their tags clear and easy to understand for shoppers. Choice found in a survey that Coles’ ‘Down Down’ and ‘While Stocks Last’ labels confused shoppers as to whether the item was marked down or not. Meanwhile, shoppers are also confused on Woolworths’ ‘Prices Dropped’ label, unsure if the product was already discounted.

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GM Reports Surge in Profit on Gas Car Sales

Retail Wire

Although General Motors has had trouble selling its electric cars, a recent report indicates that the increase in sales of gas-powered vehicles helped the company generate a profit.

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Nick Scali to acquire Fabb Furniture to enter UK

Inside Retail

Furniture retailer Nick Scali is entering the UK market through acquiring Anglia Home Furnishings, trading as Fabb Furniture, for £3.5 million ($6.7 million). Nick Scali intends to pay $1 million to exercise the option to exit the existing distribution centre arrangement and inject up to $11.5 million of working capital. After the acquisition, Nick Scali said it plans to invest in the existing Fabb Furniture network, which will include store refurbishments and rebranding, setting up a new distri

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Whole Foods and Amazon Fresh Offer Unlimited Deliveries for $10 a Month

Retail Wire

Amazon has unveiled a new program that allows customers of both Whole Foods and Amazon Fresh to receive unlimited grocery delivery for just $10 per month.

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5 Ways You Can Win Faster with Gen AI in Sales

Incorporating generative AI (gen AI) into your sales process can speed up your wins through improved efficiency, personalized customer interactions, and better informed decision- making. Gen AI is a game changer for busy salespeople and can reduce time-consuming tasks, such as customer research, note-taking, and writing emails, and provide insightful data analysis and recommendations.

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Coco Republic partners with US online lifestyle retailer Revolve 

Inside Retail

Coco Republic will collaborate with online lifestyle retailer Revolve to produce a collection of decorative items, to expand its audience to millennial and Gen Z consumers in the US. Coco Republic made their debut at the Revolve Festival 2024 in Palm Springs, California, as the official furniture partner displaying its outdoor range. The joint ‘The Art Of House’ collection, which will be launched next month, promotes the styling of design objects and accessories “to provide col

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Why my Retail Finance Team Loves AI

Retail TouchPoints

For me, the great thing about working in finance is getting to make decisions that touch all aspects of the organization. Finance really places you at the center of everything, where decisions you make play a pivotal role in sustaining long-term business success. That is, at least, the theory. The reality is that, for teams that rely heavily on manual workflows, financial management can be not just burdensome but downright soul-sucking.

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Foot Locker Debuts ‘Store of the Future’ in New Jersey

Retail TouchPoints

Foot Locker has unveiled its new store format, which includes a communal sneaker try-on area to facilitate “sneaker culture” conversations and technology that provides store associates with omnichannel inventory availability data. The retailer plans to use learnings from this store, located in the Willowbrook Mall in Wayne, N.J., for additional reinvented stores it will open in 2024 , including at the brand’s NYC flagship and locations in Paris, Melbourne and Delhi.

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Dom’s and Foxtrot Grocery Stores Close After Merger

Retail Wire

Dom's Kitchen & Market and Foxtrot Market, two grocery chains based in Chicago, have announced the closure of all their stores. This decision comes six months after the companies merged.

Marketing 173
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#RICE24 Community Convos: Amy Jain, Co-founder & CEO, BaubleBar

Retail TouchPoints

Founded in 2010, BaubleBar has become one of the most popular destinations for statement-making styles, affordable jewelry and personalized accessories. (Personally, I’m a big fan of the partnerships the brand has tapped into with the MLB, NBA, NFL and Disney.

Jewelry 217
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Major brands invest in Derbion with new concept stores

Retail Focus

JD, New Look and Ann Summers are set to open new concept stores at Derbion, the Midlands retail and leisure destination, following a combined investment of over £5 million. The investment forms part of Derbion’s continuing growth strategy to reposition and support existing retailers alongside new lettings. By actively managing the centre, Derbion has unlocked space to ensure brands benefit from the optimum footprint and location to drive footfall and sales.

Location 147
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The Evolving Retailers Fulfillment Strategy: Meeting Demands with Agility

Speaker: Becky Parisotto and John Vurdelja

Fulfillment is no longer just about getting products from point A to point B – it's about crafting seamless, scalable, customer first experiences. Flexible fulfillment strategies are more important than ever for those aiming to stay ahead and build resilience as retail enters a new era in 2025. Learn how to optimize fulfillment processes, tackle complex, multi-vendor orders, and create seamless customer experiences – from white-glove delivery for high-value items to quick-ship solutions for ever

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Big Lots Boosts Liquidity with $200 Million Loan Facility

Retail TouchPoints

Beleaguered retailer Big Lots has increased its borrowing capacity by up to $200 million with a new “first in, last out” term loan facility, secured through an affiliate of Gordon Brothers Capital. The move “significantly enhances the company’s liquidity position and is incremental to the borrowing capacity within the company’s current $900 million asset-based revolving loan facility,” according to a Big Lots statement.

Finance 191
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Millions of Workers May Be Eligible for Overtime Under New Biden Rule

Retail Wire

The United States Department of Labor revealed that millions of workers may be eligible for overtime pay under President Joe Biden's new rule.

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Google Again Delays Cookie Depreciation, This Time to 2025

Retail TouchPoints

In what has become a recurring plotline, Google has once again delayed third-party cookie deprecation on its Chrome web browser. Previously scheduled to be completed by the second half of Q4 2024, Google now anticipates the change will take place sometime in 2025. This marks the third time Google has pushed back the timeline on cookie deprecation, plans for which were first announced in January 2020 , when the company committed to removing tracking tech from Chrome within two years.

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The future of Levi’s is DTC-first and it’s already paying dividends in Asia

Inside Retail

Legacy denim brand, Levi Strauss & Co has rolled out a direct-to-consumer first strategy across its East Pacific Asia market. The pivot away from Levi’s historically successful wholesale model was first introduced with the arrival of new president and CEO Michelle Gass who has her sights set on taking the brand to new heights. Levi’s consider itself a steward of denim and in particular the blue jean – now the iconic brand is taking control of growth by coming back to bricks-and-mortar.

Consumer 147
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10 Ways to Leverage Buyer Signals and Drive Revenue

In today’s ultra-competitive markets, it’s no longer enough to wait for buyers to show obvious signs of interest. Instead, sales teams must be proactive, identifying and acting on nuanced buyer behaviors — often before prospects are fully ready to make a purchase. In this eBook from ZoomInfo & Sell Better, learn 10 actionable ways to use these buyer signals to transform your sales strategy and close deals faster.

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Kizik Extends NYC Pop-Up Through Memorial Day Due to Shopper Demand

Retail TouchPoints

Footwear brand Kizik partnered with MG2 on a pop-up concept in New York City’s SoHo to gauge market demand. The people have obviously spoken, because the brand has decided to extend the pop-up through Memorial Day. Originally slated to run for one weekend (April 19-21), the Greene Street pop-up is the first physical manifestation of Kizik’s new brand identity and “motion is magic” tagline.

Wholesale 146
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What China’s latest retail sales reveal about changing consumer spending

Inside Retail

Reporting by the business media of retail sales and other economic data produced by governments in developing Asia is often too trusting. The official numbers are usually reported unquestioningly, yet they can be deeply flawed for a number of reasons. Occasionally it is worth reminding ourselves that they need to be taken with a pinch of salt, sometimes a handful of it.

Consumer 147
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UPMC Cuts 1,000 Jobs Due to Post-Pandemic Challenges

Retail Wire

UPMC, the largest employer in Allegheny County, Pennsylvania, is laying off about 1,000 employees. The cuts are a response to challenges in the post-pandemic healthcare market.

Marketing 130
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Kering Group’s revenue slumps as demand stalls in Asia

Inside Retail

French luxury fashion group Kering has anticipated a decline of up to 45 per cent in operating income for the first half of this year after reporting a 10 per cent drop in revenue in the first quarter. The company logged €4.5 billion (US$4.8 billion) in sales for the three months. “Kering’s performance worsened considerably in the first quarter,” said François-Henri Pinault, chairman and CEO of Kering Group.

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Modernizing the Frontend Experience on Salesforce Commerce Cloud

Unlock agility, boost performance, and gain control over your Salesforce frontend with the latest masterclass from Composable.com : Modernizing the Frontend Experience on Salesforce Commerce Cloud Featuring experts from Algolia, Ember, Netlify, and Stripe, this masterclass focuses on practical strategies for optimizing your Salesforce Commerce Cloud storefronts using modern composable commerce integrations.

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Foot Locker Unveils ‘Store of the Future’ Concept

Retail Wire

The company plans to elevate the sneaker shopping experience.

Planning 130
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APPMA 2024 Packaging Design Innovation Award winner revealed

Inside Retail

The APPMA Packaging Design Innovation Award is a prestigious prize given in recognition of achievement in the Australian packaging and processing industry. The award celebrates innovation, leadership, and best practices on the part of the winner, as well as the outstanding design elements that they have introduced in their packaging. Ranpak is proud to have sponsored the 2024 APPMA Packaging Design Innovation Award.

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Oracle Moves Headquarters to Nashville to Focus on Healthcare

Retail Wire

Oracle has decided to relocate its world headquarters to Nashville, Tennessee. The primary motivation behind this move is to position the company closer to one of the major healthcare centers in the United States.

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What Q1’s retail sales say about the consumer in 2024

Retail Dive

In the first three months of the year, a strong job market and wage gains helped buoy consumer spending, but some analysts warn it may not last.

Consumer 126
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Signal-Based Selling: How to Leverage 4 Key Buying Signals

As prospects define their problem, search for solutions, and even change jobs, they are generating high-value signals that the best go-to-market teams can leverage to close more deals. This is where signal-based selling comes into play. ZoomInfo CEO Henry Schuck recently broke down specific ways to put four key buying signals into action with the experts from 30 Minutes to President’s Club.

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US Federal Trade Commission Bans Most Noncompete Agreements

Retail Wire

The FTC has voted to ban almost all noncompete agreements across the country. These agreements often stop employees from working for competing businesses or starting their own ventures.

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Sainsbury’s eyes £1bn retail profit as it hails ‘strongest year of grocery performance’

Retail Gazette

Sainsbury’s expects strong profit growth in the year ahead as it beat expectations for its 2023/24 financial year. Pre-tax profit for the year to 2 March edged up 1.6% to £701m, topping last year’s figure, as it achieved record grocery market share gains and volume growth that accelerated in every quarter. The UK’s second-biggest grocer said it expects to make up to £1.06bn in underlying operating profit from its retail operations in 2024-25 – up from £966m last year.

Grocer 116
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Congress Passed a Potential TikTok Ban, Influencers Are Worried About Their Careers

Retail Wire

After Congress passed a potential TikTok ban, TikTokers expressed growing worry over the "devastating" impact it would have on their careers.

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Pret A Manger co-founder returns amid boardroom shake-up

Retail Gazette

Pret A Manger has made a series of board changes, including bringing back its co-founder as ramps up its next phase of international growth. Former chief executive officer of Pret owner JAB Holdings Olivier Goudet is stepping down as chairman and will be succeeded by his colleague and JAB partner, Konrad Meyer. After spearheading the acquisition, Meyer became a board member in 2018 and also served as interim chief financial officer at the height of Covid-19 back in 2020.

Returns 115
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Website Security Essentials: Protect Your Site and Strengthen Cybersecurity

In a digital-first world, website security is non-negotiable. This comprehensive guide explores the critical importance of securing your site against hackers and vulnerabilities like SQL injection, XSS, and malware. Discover tools like SiteLock for threat monitoring and CodeGuard for seamless backups, ensuring robust protection for your data and operations.

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Bubble Tea Bubble Bursts? Popular Brand’s Shares Plunge in IPO

Retail Wire

The bubble tea craze has taken over cities of all sizes in the United States, but things aren’t looking good for a popular chain, whose initial public offering (IPO) tanked on the Asian market.

Marketing 113
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Ikea embarks on companywide AI literacy initiative

Retail Dive

Ikea workers can take a variety of courses, such as AI fundamentals and specialized training around ethical and responsible use of AI tools at work.

ATS 113
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John Lewis to reveal job interview questions online to find ‘the best talent’

Retail Gazette

John Lewis is posting its job interview questions online, in a bid to make the process less overwhelming for potential staff members. The retailer is set to publish its questions “for every role” online “for everyone to see,” according to the Financial Times. John Lewis talent acquisition lead Lorna Bullett said: “We want the right people, from a variety of backgrounds, with the best talent to join our organisation. “It makes absolute business sense to find wa

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Foot Locker unveils new store concept in ‘critical year’

Retail Dive

Chief Commercial Officer Frank Bracken told Retail Dive the new format fixes some old pain points, like a male-dominant experience, and also serves as a starting point for its fleetwide revamps.

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Activating Intent Data for Sales and Marketing

Sales and marketing leaders have reached a tipping point when it comes to using intent data — and they’re not looking back. More than half of all B2B marketers are already using intent data to increase sales, and Gartner predicts this figure will grow to 70 percent. The reason is clear: intent can provide you with massive amounts of data that reveal sales opportunities earlier than ever before.