Retail TouchPoints

SEPTEMBER 10, 2020

Pioneering off-price retail chain Century 21 Stores has filed for Chapter 11 bankruptcy protection and plans to shut all 13 of its stores in New York, New Jersey, Pennsylvania and Florida. The company has filed motions with the bankruptcy court to keep the stores and web site in operation in order to run going-out-of-business sales. In tandem with the filing, the lawsuit Century 21 filed against several of its insurance providers — for nonpayment of losses the company claims should have been cov

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Intelligence Node

SEPTEMBER 9, 2020

This article was first published on Forbes on Apr 23, 2020, and is authored by Intelligence Node CEO Sanjeev Sularia in his capacity as a member of the Forbes Tech Council. Recent retail news depicts a tale of two distinct fates: stores that are prospering, and those that are barely hanging on. 2019 was a tumultuous year […]. The post The Tech Effect: What All Retailers Can Learn From Beauty Brands appeared first on Blog.

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Wiser

SEPTEMBER 8, 2020

Dynamic pricing and price discrimination are two concepts that are often used interchangeably. Dig into the details, though, and they couldn’t be more different. Both involve changing the price of a product or service depending on market conditions or customer attributes, but the way they’re executed reveals that there are some important differences between the two.

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Dezeen

SEPTEMBER 6, 2020

A series of mirrored panels obscure the cocktail bar that lies inside this shop -cum-cafe in Chengdu , China created by design studio Office AIO. The shop, which is unusually called O, was named by its owner and the co-founder of Office AIO , Tim Kwan. Taking the first letter from the word "object", Kwan and the shop owner felt that O was the "perfect shape representing eternity – it has no beginning nor end, no direction nor a right way round".

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Customer Experience

Retail TouchPoints

SEPTEMBER 11, 2020

GameStop is accelerating store closure plans as part of its “de-densification” strategy. The retailer plans to shutter 400 to 450 stores worldwide in fiscal 2020, which ends in February 2021. GameStop already has closed 388 locations this year; the retailer currently operates more than 5,100 stores around the world. “These closures, along with the growth in our online business and expanded omnichannel capabilities, will allow us to more efficiently and profitably service our customers,” said Jim

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Shopperations

SEPTEMBER 8, 2020

CPG Marketing teams have long strived to quantify the results of their programs to show their business impact. As companies prioritize analytical capabilities and demand more accountability of their marketing investments, marketers are being asked to think more analytically and strategically about their roles. This is easier said than done.

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Nahanco

SEPTEMBER 11, 2020

National Hanger Company is the retail supply source for all types of clothing stores, including department stores, specialty stores, consignment shops, thrift stores and any other type of retail location that needs visual merchandising support. We’ve been around for a few years (over 95 to be exact) so we know a thing or two about how to maximize floor space.

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Retail TouchPoints

SEPTEMBER 8, 2020

After a successful pilot in 13 markets, Kohl’s is introducing its new, simplified customer loyalty program nationally. Kohl’s Rewards builds on the retailer’s Yes2You Rewards loyalty program but allows shoppers to earn more Kohl’s Cash in more ways. Members earn 5% Kohl’s Cash on every purchase along with personalized deals, a birthday gift and other perks.

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RepslyBlog

SEPTEMBER 10, 2020

Has your brand ever run a promotional campaign on a product, only to find out that after months of planning the display materials were set up incorrectly, in the wrong location, with the wrong product, or just not at all by retail staff? While this situation is incredibly unfortunate, your brand is not alone. A study found that this to be the case with 60 percent of promotional displays.

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Retalon

SEPTEMBER 11, 2020

For the past few years, retailers have been faced with an exponentially growing gap between industry leaders and laggards. A Mckinsey & Company report shows clearly that those who leverage analytics are outperforming their competition by 68%, and the gap continues to widen exponentially. Source: Mckinsey & Company report. Digital transformation in the industry has created additional challenges for retailers to tackle.

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Speaker: Amanda Adams, Fractional CFO, CPA

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Natural Insight

SEPTEMBER 8, 2020

Building toward a better future.

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Retail TouchPoints

SEPTEMBER 10, 2020

To meet its goal of increasing diversity, Target is planning to boost the number of Black employees across the company by 20%. over the next three years. The move is part of a “longstanding commitment to creating a culture that is diverse, equitable and inclusive,” according to a company statement. “We know that having a diverse workforce and inclusive environment not only creates a stronger team, but also provides the perspectives we need to create the products, services, experiences and messag

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Retail Technology Review

SEPTEMBER 7, 2020

Cheerfy, the CRM, loyalty and e-commerce solution dedicated to the hospitality industry, has launched a new product called Cheerfy Shop, to help operators turn their website into an e-commerce site, as well as providing much needed at-table order and payment technology.

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Retalon

SEPTEMBER 11, 2020

Top-performing retailers cannot rely on inaccurate, decades-old approaches to forecasting demand. In order to optimize their inventory investments and maximize GMROII, today’s retailers need accurate demand forecasts for every SKU in every store. But achieving this level of granularity requires a big data analytics approach to demand forecasting — designed for the digital era of retailing.

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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 TouchPoints

SEPTEMBER 8, 2020

Macy’s is expanding its pop-up shop program through a partnership with electric car brand Polestar. Shoppers can now digitally test drive the company’s Polestar 2 at Macy’s Union Square in San Francisco, using AR and VR to see the car in different configurations and environments. The experience is enhanced through the use of atelier tables designed to give the space a workshop-like feel.

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Retail TouchPoints

SEPTEMBER 10, 2020

Growth can be a challenge, particularly when there’s new leadership at a company with brands that date back as far as two centuries as well as wide distribution across mass, department and specialty store and e-Commerce channels. WestPoint Home , a home textiles wholesaler and direct-to-consumer online retailer, is such a company, and CMO Regan Iglesia was eager to take up that challenge when he joined the company less than two years ago.

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Retail TouchPoints

SEPTEMBER 9, 2020

COVID-19 has accelerated an already-surging resale market. Consumers stuck at home have had the time to thin out their wardrobes and make room in the garage — along with strong financial incentives to turn their possessions into cash. Studies show how the secondhand market has picked up its pace during the pandemic. According to thredUP ’s 2020 Resale Report , “online thrifting is a bright spot in the broader COVID retail slump.

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Retail TouchPoints

SEPTEMBER 9, 2020

It is hard to imagine a worse time for brick-and-mortar retail. Already challenged with diversifying against an e-Commerce alternative, stores have now lost their one remaining hook as shoppers are unable or unwilling to venture in. For many consumers, this desire may be slow to return as they remain fearful of exposure to the COVID-19 virus. Certainly, retail performance has ticked up in recent months as economies reopened, but this comes off a low base and reflects a significant amount of onli

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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 TouchPoints

SEPTEMBER 11, 2020

Beginning in late July, a number of major retailers announced that they would be closing stores on Thanksgiving Day for the first time in years. Walmart kicked it all off, stating they would be closing their stores on the major U.S. holiday for the first time in 30 years , with many other retailers, including Target, quick to follow their lead. Does this mean the end for Black Friday?

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Retail TouchPoints

SEPTEMBER 10, 2020

J.C. Penney Company has entered an agreement in principle to sell JCPenney to Brookfield Property Partners and Simon Property Group for $1.75 billion. JCPenney intends to execute a stalking horse asset purchase agreement and auction that will conclude before the 2020 holiday season. The agreement would involve the formation of a separate real estate investment trust and a property holding company, which will include 161. of JCPenney’s real estate assets and all of its owned distribution centers.

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Retail TouchPoints

SEPTEMBER 7, 2020

To succeed in today’s digitally oriented marketplace, retailers need a strong network infrastructure to tie multiple elements of the shopper journey together. Retailers must be able to automatically link physical and cyber transactions to customer accounts in real time, see and manage inventory and link that information to their applications, and establish granular visibility and control over things like point of sale devices, heating and cooling systems, refrigerated display cases, WiFi solutio

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Retail TouchPoints

SEPTEMBER 10, 2020

LVMH Moët Hennessy Louis Vuitton (LVMH) plans to file a lawsuit against Tiffany , accusing the jewelry retailer of dishonesty and mismanagement of its operations during the coronavirus pandemic. The company also stated that Tiffany’s own lawsuit , filed in response to LVMH’s cancellation of its $16.2 billion acquisition of Tiffany is “totally unfounded,” and that it has taken the necessary steps for regulatory approval of the merger in a timely fashion.

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Customer Experience

Retail TouchPoints

SEPTEMBER 11, 2020

When COVID-19 hit, many consumers sought comfort, from junk food to familiar entertainment choices. These desires proved to be good news for The Company Store : sales shot up 50% during the initial lockdown as consumers flocked to the site that says, “We’re all about comfort.”. Founded in 1911 by Scandinavian immigrants who crafted down comforters, down pillows and down-filled featherbeds to cope with Wisconsin winters, The Company Store still specializes in down, but it has expanded into other

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Retail TouchPoints

SEPTEMBER 9, 2020

The Paper Store will emerge from Chapter 11 bankruptcy after less than two months. Retail-led real estate firm WS Development acquired the retailer, which will be added to its 95 -location property portfolio. The Paper Store continued operating uninterrupted during the proceedings and expects to seamlessly transition to its new ownership as it emerges from bankruptcy.

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Retail TouchPoints

SEPTEMBER 10, 2020

For a long time, retail consumer data-gathering was a game rigged for big players. Not anymore. As a report from consulting firm Catalina showed, 90 of the top 100 consumer packaged goods companies lost market share to smaller brands in recent years. Between 2012 and 2017, these small companies (characterized as those with sales that amounted to less than $1 billion) nabbed about $15 billion in sales from their well-established counterparts.

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Retail TouchPoints

SEPTEMBER 9, 2020

CAYIN Technology , a digital signage solution provider, has partnered with QNAP Systems to integrate facial detection technology with its digital signs. The combined solution is designed to engage shoppers using personalized advertising content based on their age and gender, as well as the number of customers within view of the screen. The solution harnesses QNAP’s QVR Face Tiger to update content on screens in real time.

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Retail TouchPoints

SEPTEMBER 9, 2020

Luxury brand powerhouse LVMH Moët Hennessy Louis Vuitton has called off its planned $16.2 billion purchase of Tiffany & Co. , citing the threat of U.S. tariffs on French goods. However, it’s more likely that LVMH’s cold feet are a result of the battering that the overall luxury market has taken due to COVID-19. There had been signs that the deal, originally announced in November 2019 , was in trouble.

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Retail TouchPoints

SEPTEMBER 11, 2020

Walmart is launching an on-demand drone delivery pilot in Fayette, N.C. with a focus on select grocery and household items. Orders will be delivered via Flytrex automated drones, which can be controlled over the cloud using a smart control dashboard. The test will help the retail giant gain insight into the customer and associate experience, from picking and packing to takeoff and delivery.

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Retail TouchPoints

SEPTEMBER 10, 2020

Oculogx , an omnichannel order fulfillment solution provider, has launched a suite of products designed to improve order fulfillment speed and accuracy. The solutions were created for storefronts, warehouses and retail stores, and include wearables for hands-free order picking, real-time order management and analytics, and a mobile fulfillment application.

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Retail TouchPoints

SEPTEMBER 9, 2020

As Home Depot and Amazon approach an uncertain Q4, these retailers are seeking to embrace the extended digital nature of this year’s season. Home Depot is extending its Black Friday deals from early November through the end of December, both in-store and online, and partnering with Pinterest to help shoppers discover DIY gifts. Amazon is reportedly starting its own Early Black Friday deals on October 26 and not restricting discounts to Prime members, according to Tamebay , a publication for mark

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Speaker: Igli Laci, Strategic Finance Leader

In today’s competitive market, pricing is more than just a number — it’s the cornerstone of profitability. The right pricing strategy ensures that you capture the true value of your offering, paving the way for sustainable growth and long-term success. Join Igli Laci, Strategic Finance Leader, in this exclusive session where he will explore how a well-crafted pricing approach balances customer perception with business objectives, creating a powerful tool for securing both competitive advantage a

Finance