Fri.Jul 12, 2024

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Five lessons business leaders can take from the recent wave of retail collapses

Inside Retail

The cost-of-living crisis and decreased discretionary consumer spending continue to wreak havoc on established retail businesses, as evidenced by the collapse of several Australian retailers in recent months, including Booktopia, Tigerlily, Nique, Dion Lee and Godfreys. Despite a 20-year history since its founding in 2004, Booktopia has faced financial turmoil in recent years.

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Cracking the Code of Customer Loyalty in 2024 Means Prioritizing Customer Lifetime Value Over Speed

Retail TouchPoints

There are two types of customers: those who buy and those who keep coming back. Success in ecommerce, and retail in general, depends on the latter. For VCs backing ecommerce upstarts, exponential growth and expansion often focuses on speed and a “growth at any price” mindset. On the other hand, traditional retailers must reinvent their playbook to keep up with a customer experience driven by tech that evolves quickly enough to meet consumers’ rising expectations.

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Kohl’s Announces Back to School Strategy

Retail Wire

Kohl's is simplifying back-to-school shopping with affordable, trendy items, featuring new brands like Limited Too, Aéropostale, and Madden Girl. Families can find essentials such as t-shirts, sneakers, and backpacks at low prices, and save more with Kohl’s Cash® coupons and Kohl's Rewards®.

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Hy-Vee Implements Digital Shelf Tags, Debuts Post-Purchase Offers for Items Beyond its Assortment

Retail TouchPoints

Supermarket chain Hy-Vee has invested heavily in its digital transformation over the last two years — and its latest adoption of digital shelf tags and post-purchase offers powered by its retail media network are designed to further improve the omnichannel grocery shopping experience. Digital Shelf Tags Improve Store Efficiency and Sustainability Through a partnership with VusionGroup , Hy-Vee is rolling out digital shelf tags in more than 230 stores to enable real-time updates to product inform

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Is Your Business AI-Ready? Find Out with Orium’s Maturity Model

Generative AI is poised to redefine B2B, but scaling AI success in this space isn’t without obstacles. From fragmented data sources and complex buyer journeys to operational inefficiencies, the road to AI-powered growth can be challenging. To achieve a competitive edge, understanding your organization’s AI-readiness is essential. Orium's Data & AI Maturity Model provides a quick, actionable way to assess your starting point.

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CDK Global Resolved the Auto Dealer Outage by Reportedly Paying a $25 Million Ransom

Retail Wire

According to sources familiar with the matter, CDK Global, a software company backing car dealerships across the U.S., seems to have paid a $25 million ransom to resolve the cyberattack it faced last month.

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How AI Takes the ‘Lumpiness’ Out of Floor & Decor’s Inventory Planning

Retail TouchPoints

The requirements for retail success don’t get much more basic than the ability to accurately forecast customer demand. Even a mom-and-pop bodega should be able to gauge how many people will order a breakfast sandwich and coffee each day. For larger-scale retailers, the ability to develop an accurate forecast only gets complicated, and re-complicated, as they strive to correctly place and price inventory in multiple locations so they can maximize sell-through with minimum discounting.

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Indiegogo Debuts Ecommerce Site for Crowdfunded Products, Plans Physical Presence

Retail TouchPoints

Crowdfunding platform Indiegogo has launched a range of new services to “support the full innovation journey,” including a new ecommerce offering, IndieShop , which allows users to purchase products developed via crowdfunding. The platform plans to soon announce a partnership to bring “the most successful crowdfunding projects to physical locations.

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Taco Bell Announces the Return of Nacho Fries

Retail Wire

Taco Bell is bringing back the Nacho Fries Lover’s Pass, allowing Rewards Members to enjoy a regular order of Nacho Fries daily for 30 days for just $10. This pass is available for purchase exclusively through the Taco Bell app from July 9 to July 15.

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Hallmark to Debut Upgraded Streaming Service with Retail Store Tie-ins

Retail TouchPoints

Hallmark is revamping its streaming service and integrating retail and product benefits into the price of a subscription, with the goal of creating an “unparalleled Hallmark lifestyle experience.” In mid-September the current streaming service Hallmark Movies Now will become Hallmark+ , with the subscription cost increasing from $5.99 per month or $59.99 per year to $7.99 per month or $79.99 per year.

Shopping 263
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AT&T Releases Details of Breached Data

Retail Wire

This past April, AT&T discovered that there was a data breach in one of their workspaces through a third-party cloud platform. Proper and necessary steps were then taken immediately afterward. This resulted in customer data being illegally downloaded from the affected station. AT&T then proceeded to begin an investigation in order to assess and process what exactly happened.

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

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Dollar General to Pay $12 Million Penalty to Settle Workplace Safety Claims

Retail TouchPoints

More than one year after Dollar General shareholders voted to implement an independent audit of in-store employee safety, the retailer has agreed to pay $12 million in penalties and make several workforce changes. In its settlement with the U.S. Department of Labor (DOL), Dollar General confirmed that it will make several efforts to improve workforce safety, including: Establishing and maintaining an expanded safety structure and health management system; Hiring additional safety managers; Devel

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Stop & Shop Releases List of Closing Locations

Retail Wire

Stop & Shop announced it will close 32 underperforming stores by the end of the year to focus on growth through price investments and store remodels. The closures will affect stores in Connecticut, Massachusetts, New Jersey, New York, and Rhode Island.

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$7 Million Energy Department Grant will Power Batteries Plus Recycling Initiatives

Retail TouchPoints

Batteries Plus has been selected for a U.S. Department of Energy (DOE) grant of more than $7 million to support a comprehensive nationwide initiative for increasing battery recycling. The DOE’s Office of Manufacturing and Energy Supply Chains chose Batteries Plus based on its extensive franchisee network of 700+ stores and its specially trained battery professionals, who are well positioned to manage safe, environmentally responsible disposal of batteries.

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Understanding the Importance of Crime Rates in Property Search in Birmingham

Retail Focus

When searching for a new home, many factors come into play beyond the aesthetics and location of the property. One crucial consideration that often impacts decision-making is the crime rate of the neighbourhood. Understanding how crime rates affect property searches in Birmingham can significantly influence the choices buyers make. Assessing Safety and Security Safety is paramount when choosing a place to live, and Birmingham’s crime rates are pivotal in this assessment.

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Is Your Brand AI-Ready? Find Out with Orium’s Maturity Model

Generative AI is reshaping retail, but achieving true AI success isn’t simple. Many brands face hurdles—underdeveloped data strategies, limited AI-ready infrastructure, or lack of seamless integration across systems. As you explore how AI can boost efficiency and transform customer experiences, understanding your business’s readiness is key. Orium's Data & AI Maturity Model offers a clear starting point.

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Costco to Boost Membership Fees for First Time Since 2017

Retail TouchPoints

Costco will raise its annual membership fees, one of its primary sources of revenue, for the first time in over six years. Gold Star, Business and Business Add-On memberships will increase from $60 to $65 on Sept. 1, 2024, and Executive memberships will rise from $120 to $130. Back in May 2023 Costco said it would delay planned membership fee hikes, citing the impact of inflation on consumers.

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Spotify Launches New Comments Feature to Tackle Longstanding Moderation Issues

Retail Wire

This week, Spotify has launched a new feature allowing comments on podcasts to address ongoing moderation challenges. This move comes as many online platforms have struggled with comments their sections becoming hubs for hate speech and polarization over time.

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Starbucks Attempts to Make Reusable Cups Mainstream with Citywide Test 

Retail TouchPoints

Starbucks has been a longtime champion for reusable cups. The coffee giant has conducted more than 20 reusable tests in stores worldwide and earlier this year , it became the first national coffee retailer to accept reusable cups for drive-thru and mobile orders. Now Starbucks is aiming to make reusable cups mainstream by bringing in a knowledgeable partner — and even its competitors.

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Paqui One Chip Challenge Lawsuit: What We Know

Retail Wire

The Paqui One Chip Challenge was a viral social media sensation.

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NEWS: SML RFID Delivers 98% Inventory Accuracy to Gina Tricot

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.

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Dollar General agrees to settle OSHA safety violations for $12M

Retail Dive

The agreement with federal regulators requires the retailer to reduce its inventory and improve stocking efficiency to avoid safety hazards like blocked emergency exits and access to fire extinguishers.

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Blue Bell Ice Cream Drops Chocolately, Cheesy New Flavor

Retail Wire

The new flavor debuts for the 40th anniversary of National Ice Cream Month.

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One-third of consumers cut spending in Q2: report

Retail Dive

Inflation concerns continue to weigh on shoppers, with 84% saying it has affected how they spend their money, according to a report from Jungle Scout.

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Redbox Shutting Down DVD Rental Kiosk Business

Retail Wire

The red machine have been a staple for film fans for over two decades.

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Mastering E-commerce Strategies to Drive Growth in B2B Distribution

B2B distributors and wholesalers: this webinar is for you! Discover the game-changing potential of composable commerce—a flexible, modern approach to e-commerce—and explore the strategies and technologies transforming the B2B landscape. Learn how to create custom digital experiences for your business from the leaders at Orium , commercetools , and Contentful as they walk through real-world examples, providing actionable insights on how to future-proof your business, integrate new opportunities s

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Vans refreshes Roblox activation with ‘phygital’ maneuver

Retail Dive

To drive traffic to the space, which reached 100 million visits last year, the brand is dropping a virtual version of a new shoe prior to its in-store release.

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Updated Rules for International Trade

LS Retail

©iStock/thitivong Globalization refers to the process of connecting the world economy more closely through the flow of goods, services, investment, technology, data, ideas, and workers. It began around 1870 and took off in the decades after World War II as countries started reducing restrictions on capital and trade flows in anticipation of benefits to growth and welfare.

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J.C. Penney launches summer sales that overlap with Prime Day and beyond

Retail Dive

The retailer reserves its best deals for members of its newly revamped loyalty program, and offers unique services like photo sessions and haircuts.

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New look M&S arrives at Liverpool Street as retailer plans to open 10 new stores and renew up to 50 convenience sites

Retail Times

Retail Times publishes international & UK retail news covering products, data, tech, packaging, people, research, comment and more besides! On 10th July M&S celebrated the reopening of its Liverpool Street Station Mezzanine store, the first ever M&S convenience store at a mainline railway station, which has been renewed in partnership with SSP.

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eCommerce in 2025: How Customer Experience Drives Online Retail Success

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

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Birkenstock names managing director as it eyes expansion

Retail Dive

Evelyn Chua will lead the footwear brand’s segments across Southeast Asia, Australia and New Zealand in the newly created role.

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The 3 R’s of Branded Spaces: Rebrand, Refresh & Replicate (and More Relevant R’s)

Miller Zell

In this blog, learn the difference between a rebrand and a refresh and effective strategies for executing either successfully in your retail space.

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Ombré Lamar Launches Luxury Fragrance Store in Marylebone

365 Retail

The newly launched London-born luxury fragrance brand, Ombré Lamar , has opened its flagship store on Crawford Street in Marylebone. This launch introduces a prestigious and unique perspective on fragrance to the area, drawing inspiration from the art of blending tones. Ombré Lamar’s founders, a passionate duo with heritage rooted in the Arab world, have created a brand that fuses traditional Arabic tales with contemporary London style.

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Budweiser and Sir Geoff Hurst rally the public together for a bank holiday this Monday

Retail Times

Retail Times publishes international & UK retail news covering products, data, tech, packaging, people, research, comment and more besides! Budweiser, the Official Beer of England, and Sir Geoff Hurst are together launching an ambitious plea aimed at His Majesty King Charles III to declare a bank holiday, if the England Men’s football team achieves a momentous win on Sunday and following on from the Lionesses historic victory in 2022.

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How to Maximize Amazon Sales and Crush the Competition

With over 9 million sellers on Amazon, online marketplaces are more crowded than ever. Whether you’re looking to fine-tune prices in real-time or align strategies across channels, this guide provides the tools to understand how to maximize sales and secure a lasting competitive edge. Download now to transform your pricing strategy and drive holiday success.