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Nike plans to open 30 stores in the second half of 2021 as the retailer positions itself for long-term growth. Leaders discussed their plans for the business, including growing its connections with shoppers and improving supply chain capabilities, on a Dec. 18 call with analysts. The retailer’s plan to better connect with consumers will include “scaling direct connections with contactable members,” according to Matt Friend, EVP and CFO at Nike.
Even before COVID-19, the retail industry was already going through significant challenges, disruption and transformation. That has all been turned on its head. Get ready for the “new abnormal.”. Going forward there will be a fundamental shift in consumers’ reengagement and behavior towards physical environments, including the size and program of space.
The U.S. Bankruptcy Court for the Eastern District of Virginia has approved the J.Crew Group reorganization plan, paving the way for the parent company of J.Crew , J.Crew Factory and Madewell to emerge from Chapter 11 in early September. J.Crew was an early casualty in what has become a long list of retailers that have filed for bankruptcy in the wake of COVID-19.
2020 has been an exceptional year for the retail sector, with all businesses having to rapidly adapt in some way or another. Such a time of upheaval has led to a permanent, irreversible change in consumer behavior as shoppers embrace the convenience and security of ecommerce more readily. There is much for retail organizations to do to make themselves resilient to the incoming challenges, but enhancing omnichannel capabilities and building powerful ecommerce experiences will be crucial.
Category Management is a cornerstone of a successful retail strategy. While it promotes collaboration between manufacturers and retailers to optimize category performance, challenges persist in its effective implementation due to hurdles in communication and collaboration across teams and partners, and more. In this guide, we outline five essential strategies for success in 2025 that will touch on all the essential pieces of a successful strategy and implementation.
Aetrex Worldwide has launched Albert 2, the next generation of the company’s 3D foot scanning technology. The omnichannel device is designed to be a fully integrated foot scanning system that can help shoppers find correctly fitting footwear and orthotics and provide an enhanced customer experience at retail. Customers step into the Albert 2, which can scan both feet in 20 seconds or less, to capture static and dynamic pressure as well as 3D measurements of the foot.
Consumer expectations are constantly on the rise, driven by innovations and new offerings that promise more efficient and personalized experiences. For retailers, the stakes of customer satisfaction and engagement that come with a digital world are extremely high: In one recent survey, nearly 70% of consumers said that page speed influences their decision to purchase, with 15% saying that slow loading times would send them to a competitor’s site.
This year’s surge in ecommerce has put strains on both supply chains and websites, and retailers now are guessing what challenges they will face as fall and winter bring the threat of a COVID-19 resurgence as well as the usual holiday rush. With ecommerce traffic unlikely to wane anytime soon, retailers need to harden their operations to prepare for a potential holiday rush.
This year’s surge in ecommerce has put strains on both supply chains and websites, and retailers now are guessing what challenges they will face as fall and winter bring the threat of a COVID-19 resurgence as well as the usual holiday rush. With ecommerce traffic unlikely to wane anytime soon, retailers need to harden their operations to prepare for a potential holiday rush.
Returns are a cost of doing business for any retailer. But despite representing $309 billion in lost sales for U.S. retailers last year, they haven’t always been a strategic focus. In the wake of COVID-19, returns are receiving serious (and necessary) attention for several key reasons: Retailers are spending more processing returns in stores. They are expected to keep merchandise out of circulation due to COVID infection concerns and to provide employees with personal protection to prevent infec
The convergence of a pandemic, economic turmoil and a heated presidential election can make it difficult to look beyond the here and now, but shoppers nevertheless expect retailers to have a long-term vision. Consumers are recognizing that major companies can play a large role in shaping tomorrow — both in terms of their influence on society at large and the post-COVID-19 shopper experience, according to the Visions Into The Future report by CallisonRTKL.
Retail industry giants Target and Walmart continued to benefit from their status as essential retailers equipped with strong e-Commerce operational capabilities in Q2. In good news for their bottom lines, both retailers achieved significant sales growth, both online and in-store, while also improving margins. Target achieved a record-setting 24.3% increase in comp sales for the three months ended Aug. 1, 2020, rising from $18.2 billion last year to $22.7 billion this year.
FedEx Office , the printing, packing and shipping services subsidiary of FedEx, is partnering with online design company Canva to create a digital design-to-print marketplace. The partnership aims to make it easier for retailers to create professionally printed materials to help them get back to business quickly and safely. More than 2,000 FedEx Office stores will now feature Canva’s image library and templates, which can be used to help retailers quickly design and print materials.
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
Walmart has announced that its long-rumored paid membership program, Walmart+, will be available on September 15. It will cost $12.95 per month or $98 annually and include a 15-day free trial period. At launch, members will have access to unlimited home deliveries for groceries and general merchandise — as quickly as the same day they are ordered. Other perks include fuel discounts at Walmart, Murphy USA and Murphy Express gas stations, and access to proprietary technology such as “Scan & Go
Over the past four months, retailers have been scrambling to adapt and respond to customer behaviors that have emerged due to the coronavirus pandemic. Solution providers also have joined the fray, creating new solutions and services to help businesses stay open — and even uncover new revenue opportunities — as we venture into the “New Normal,” or what Aptos calls the “Next Normal.
It’s no surprise that the shopping habits of Gen Z during the pandemic will predict the near future for retail. Gen Zers are currently the largest and most influential generation of shoppers in the U.S., and COVID-19 has had a serious impact. We are already seeing that 46% say they plan on saving more of their earnings over the next five years, and 63% are currently concerned about the impact of COVID-19 on their ability to make money.
IKEA has partnered with Google Cloud to improve it technological capabilities, including the implementation of AI and machine learning tools, upgrading omnichannel capabilities and exploring new customer service offerings. The retailer already was using Google Cloud to help scale operations during the coronavirus pandemic and will continue looking into new possibilities.
AI adoption is reshaping sales and marketing. But is it delivering real results? We surveyed 1,000+ GTM professionals to find out. The data is clear: AI users report 47% higher productivity and an average of 12 hours saved per week. But leaders say mainstream AI tools still fall short on accuracy and business impact. Download the full report today to see how AI is being used — and where go-to-market professionals think there are gaps and opportunities.
There’s lots of potential danger in supply chain operations: work at distribution centers involves using heavy equipment to pick, pack and move products at an extremely fast pace. Walmart’s U.S. division achieved dramatic safety improvements with a daily training solution that provides personalized short quizzes on safety topics, helping change on-the-job behaviors of more than 100,000 associates at 150 DCs.
In an industry as diverse and wide-ranging as retail, there’s no one way to create a stellar brand experience — but there are a few common factors. The 17 brands and retailers recognized by the first Brand Experience Awards (BEA), co-presented by Retail TouchPoints and RetailX , have different business models, customer types and challenges, but they share a commitment to never standing still.
At its heart, a progressive web app (PWA) is a website that functions like a native app on a shoppers’ device. Although simple in concept, PWAs have the potential to massively improve a retailer’s operations, from shortening website load times to boosting natural Google search ranking, according to the Progressi v e Web Apps: The Best Kept Tech ‘Secret’ In Retail session at the 2020 Retail Innovation Conference.
The AI-powered autonomous shopping experience just got bigger, in the form of a 4,000-square-foot hybrid convenience market called AI Go in Shanghai. The store combines a manned checkout with the use of computer vision as part of checkout-free shopping powered by AiFi Solutions. Stocking 2,000 SKUs ranging from fresh meats to snacks, this store represents the largest deployment to date of the AiFi Autonomous Store Platform OASIS.
When it comes to driving traffic and growing your online presence, businesses often ask: SEO or PPC—what’s the better choice? This guide breaks down the key differences between search engine optimization (SEO) and pay-per-click (PPC) advertising, highlighting their pros, cons, and best use cases. Whether you’re looking for long-term organic growth or immediate visibility through paid ads, we’ll help you determine which strategy—or combination of both—is right for your business.
Walgreens Boots Alliance and VillageMD will open the next 40 Village Medical at Walgreens full-service primary care clinics by the end of summer 2021. The first markets slated for expansion include Houston, El Paso and Austin, Texas; Phoenix; and Orlando, Fla. The expansion is part of the large-scale rollout that will open 500 to 700 Village Medical at Walgreens clinics in more than 30 U.S. markets in the next five years.
Bed Bath & Beyond achieved a 6% sales increase in Q2 2020, its first growth since Q4 2016, driven by an 89% jump in ecommerce sales. The online growth offset a 12% decline in same-store sales, bringing net sales to $2.7 billion. The retailer credited the improvements to its expansion of omnichannel offerings such as buy online, pick up in-store (BOPIS) and curbside pickup during the pandemic.
DoorDash is taking dark store fulfillment in a new direction with an online delivery service that sells products from its owned and operated local distribution centers. The DashMart convenience stores carry approximately 2,000 products, a combination of basics and impulse items — such as snacks, groceries, over-the-counter medicines and pet food — along with “fan favorites” from local and national restaurant chains.
As COVID-19 has accelerated the trend away from cash payments to mobile and other contactless methods, Starbucks and 7-Eleven have both expanded their mobile payment options. Starbucks Reward members using the company’s mobile app will be able to earn rewards, which Starbucks calls stars, when they pay with cash, credit and debit cards or mobile wallets.
AI is rapidly transforming digital commerce, but how do you separate real opportunities from hype? Moderated by Orium, AI for Commerce: Foundations, Aspirations, and Hype , experts from Bloomreach , commercetools , Contentstack , and Fluent Commerce explores where AI is already delivering results and where its potential is still unfolding. This masterclass dives into proven AI applications, emerging innovations , and the gaps between promise and reality in commerce.
The 2020 holiday season will be dominated by uncertainty, a sharp contrast to the relatively steady growth in spending and ecommerce traffic that retailers enjoyed over the past several years. Retailers will have to forge ahead without reliable historic data to guide them — but looking at the events of the past six months and results from recent surveys can help center their perspective.
There is no doubt that retailers have faced many struggles as a result of the pandemic. Brick-and-mortar stores were forced to shutter around the country, forcing retailers to amplify their ecommerce efforts, with varying levels of success. Many struggled to adapt, resulting in a record number of bankruptcies, and in some cases complete closures, including industry stalwarts like Neiman Marcus, Lord & Taylor and J.Crew.
Consumer preference for online shopping continues to rise, as more purchases are being made online than in stores with each passing year. In 2019 , the total market share of online U.S. retail sales surpassed general merchandise sales for the first time in history. And as a result of the coronavirus pandemic, this trend is only increasing. According to McKinsey , ecommerce sales in apparel, department stores and beauty products have increased by nearly 10%, on average, since the onset of the pan
In anticipation of customer demand for more and faster delivery options during the holidays, Bed Bath & Beyond has launched multiple options for same-day home delivery. Customers selecting home delivery on the Bed Bath & Beyond and buybuy BABY websites will have their orders fulfilled in stores by personal shoppers working with Shipt , a division of Target.
This webinar will explore how companies can proactively address compliance risks–rather than reactively responding to–UFLPA enforcement actions. Ethan Woolley will provide insights into the latest CBP enforcement trends, entity list updates, and industries under increased scrutiny, with a look at potential shifts under the Trump administration. Ethan will also explore how predictive data and strategic due diligence can help organizations stay ahead of regulatory challenges and strengthen complia
In June , DICK’S Sporting Goods launched its two new discount-focused store concepts — DICK’S Sporting Goods Warehouse and OVERTIME by DICK’S Sporting Goods — with the opening of five Warehouse and three OVERTIME locations. This month, the retailer will open five more Warehouse stores and one additional OVERTIME location. DICK’s also is expanding the footprint of its predominant DICK’S Sporting Goods brand with four new stores and one combination DICK’S and Golf Galaxy location
Christmas needs to come early this year (and by Christmas I mean the entire holiday shopping season). Why? There’s a pretty decent chance that the traditional holiday season that occurs in Q4 will fail to materialize, and any retailer that relies on that influx of sales and cash should begin thinking about hosting Black Friday and Cyber Monday-type events in June or July.
While the name Burton is almost synonymous with the snowboards the company began making in 1977, Burton has diversified over the years into new categories — including surfboards, apparel, goggles/optics and other sports gear — as well as expanding beyond manufacturing into direct-to-consumer (DTC) retail, both physical and digital. The Burton name is on 66 stores in 10. countries and the principality of Andorra, as well as the U.S.
Lowe’s will pay its frontline employees an additional $100 million in bonuses, bringing the retailer’s total commitment to associates and communities during the pandemic to more than $450 million. The money is being offered to recognize the work they have done for the company during the COVID-19 crisis. All active hourly associates in Lowe’s U.S. stores, distribution centers and store support centers will receive the bonuses in mid-July.
Speaker: Benjamin Woll, Tiffany Spizzo, and Jaime Santos Alcón
Enterprise commerce is at an inflection point. Rigid, monolithic platforms slow brands down, but a full replatforming is disruptive and costly. Modular architecture offers a flexible, scalable alternative - allowing enterprise brands to modernize without ripping and replacing their entire stack. Learn how a composable approach helps modernize commerce stacks while maintaining control over critical systems.
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