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With the holiday season just concluded, the challenge of managing merchandise returns is a reality for many retailers. According to the latest data from the National Retail Federation (NRF), merchandise returns are projected to reach an astounding $890 billion in 2024, accounting for approximately 16.9%
Poshmark has partnered with Loop Returns for a new program that will allow shoppers to sell unwanted items that they cant return to the original merchant, extending the life of these products and cutting return handling costs for retailers. One click will produce a complete, pre-filled listing on Poshmark with item details.
The department store chain noted incurring higher employee costs, higher support office costs related to a new marketing agency and a separate investment in transformation capabilities. “In a year of transition, we remain focused on executing our strategic plans to drive growth and attractive shareholder returns.”
Amazon’s summer Prime Day sales event now serves to kickstart many retailers’ summertime sales and back-to-school marketing efforts, and is generally pivoting marketers’ planning calendars. And now, brand marketing teams wonder if the holiday marketing calendar has been elongated too.
One of the biggest challenges for any B2B marketer is understanding your prospects’ next move — who is most likely to buy and when. Without these insights, marketing campaigns can feel more like guesswork, with high investment and little return. We’re here to tell you there’s a better way.
During the pandemic, ecommerce returns majorly impacted retailers profit margins. As customers return to in-store shopping, retailers are continuing to face an increase in returns from online and in-store sales. This holiday season, consumers who frequently make returns may be in for a surprise.
“VNCE is the perfect partner for P180; the brand’s dominance in the luxury contemporary market aligns seamlessly with our acquisition strategy, said incoming Vince CEO and P180 Co-founder Hoffman in a statement.
Total returns are projected to reach $890 billion in 2024, up from the estimated $743 billion of merchandise returned in 2023 , according to a new report from the National Retail Federation and Happy Returns , a UPS company. This would account for 16.9% of retailers’ annual sales in 2024, increasing from 14.5%
Beyond plans to leverage Kirkland’s store operations expertise and existing brick-and-mortar footprint — which encompasses 325 stores in 35 states — to make Bed Bath & Beyond’s return to physical retail a success. New markets outside of Kirkland’s current footprint will be considered, as will store conversions.
Any return to normalcy may seem far-off, but sales and marketing are on the front lines of restarting the economy. However, there’s no team better suited to lead that charge than the marketing department. Most have already sustained massive damage, and we still have yet to see the scope of this global pandemic.
After a four-year hiatus, G-Star Raw is poised to re-establish its presence in Australia and New Zealand, emerging from a turbulent chapter in the market. The Australian arm of the Dutch-founded denim giant, established in 1989, collapsed into voluntary administration in early 2020 as the advent of covid engulfed the market.
Solid spending during this holiday season underscores the strength we observed from the consumer all year, supported by the healthy labor market and household wealth gains.” ” Fraud and Returns Increase Along with Sales In tandem with these spending increases both fraud and returns also saw gains.
Better demand forecasting with AI Using AI algorithms to analyse historical sales data, seasonal trends and other market factors can help retailers predict future demand with higher accuracy. Using AI for returns optimisation Another growing supply-chain issue for retailers is returns. per cent vs 10 per cent).
Indian retail conglomerate Reliance Retail has introduced an app in India to sell Sheins fashion products through a licensing agreement, marking the Chinese brand’s return after a five-year ban due to diplomatic tensions. According to Westphal, India’s fast fashion market features a diverse mix of international and local brands.
With vaccination rates rising, consumers spending more money, and people returning to offices, the job market is going through a period of unprecedented adjustment. Businesses are looking to hire quickly, but they face a disjointed market. As the New York Times observed, “It’s a weird moment for the American economy.”
Dillards has been executing a highly successful strategic plan focused on improving operating margins, prudently managing capital expenditures and aggressively returning capital to stockholders, said James Mitarotonda, Chairman of Barington in a statement. Since fiscal year 2014, Macys has spent $9.7
The retailer is offering free returns on all Amazon Haul purchases over $3 within 15 days of delivery, and shoppers can drop off these returns at more than 8,000 drop-off locations, including Amazon Fresh, Whole Foods Market, UPS, Staples and Amazon Lockers.
These networks enable targeted marketing, allowing retailers to deliver personalized offers that boost conversion rates. Additionally, retailers gain valuable insights into customer behavior, enabling effective marketing campaigns that attract new customers and re-engage lapsed ones.
But reaching them requires more than flashy social campaigns or discounts theyre more resilient to being marketed to as well as ham-fisted attempts to study them. Retailers must reflect this diversity in their marketing. The ease of online shopping is partly driven by flexible return policies.
Enter conversational marketing — the new paradigm to tackling your business deals and converting prospects in minutes. Studies show the return on investment (ROI) of conversational marketing helps your marketing team drive revenue.
Spanish fashion label Desigual is returning Down Under, partnering with The Iconic to launch its spring-summer collection. Desigual is known for its bright clothing and brave marketing techniques, such as offering free clothes to shoppers who arrive in their underwear. But the expansion never eventuated.
According to PwC, businesses that reduce friction for consumers and empower all employees to make things right whether through returns, price adjustments or other policies bring higher customer satisfaction and more forgiveness. Delivering a smooth and frictionless post-purchase experience should be a top priority for every retailer.
“Revolve and Muus designed Bellemint to be a digital runway for players to discover and shop curated fashion — and for brand partners to market their products to a tailored audience,” said Emily Wang, Partner and COO at Griffin Gaming Partners in a statement. ”
The retail marketing landscape is more dynamic than ever, so understanding which trends are worth pursuing both from the consumers and the businesss perspective and which ones are just noise, will be critical to achieving growth in the year ahead. Here are three common themes that came to the fore.
Speaker: Kelly Barner - Co-Founder & Managing Director of Buyers Meeting Point, LLC
It was followed by port blockages and congestion, strikes among truck drivers and railway workers, a major recall and plant closure that led to a disastrous baby formula shortage, concerns about the future of semiconductor availability, turbulence in the ESG investment market, and much more. What will 2023 bring?
“The owners have done everything they can to keep Jeanswest going, but market conditions mean sustaining brick-and-mortar stores is not viable and unlikely to improve,” he said. “We will be opening the doors of all stores and selling online to clear all stock to secure a return to creditors,” Bainbridge said.
Schwartz has served as the retailer’s COO since its inception, overseeing functions including product, technology, global operations and marketing, and as CEO, he plans to extend the company’s reach through brand growth, category diversification and market expansion.
This level of excitement is not uncommon for international F&B brands entering markets like Singapore and Hong Kong, where media hype and consumer curiosity often drive long lines. Despite its cult following, known for its indulgent egg sandwiches, the brand failed to secure a long-term foothold in key Asian markets.
Adore Beauty enjoyed improved earnings in the last fiscal year, thanks to the record number of returning customers, accounting for 79 per cent of product sales. The company saw record 519,000 returning customers, up 5.8 million while revenue grew 7.4 per cent to $195.7
The return of its former bosscomes at a crucial time for Poundland after it reported its fourth consecutive quarter of declining sales, which fell 7.3% Williams’ return certainly signals something major is afoot, with early reports suggesting the group is considering a mass restructuring of the entire business or even a possible sale.
Asda and Amazon have launched a new parcel pick-up and label-free, box-free return service at over 700 of the supermarket’s stores. The tie-up is designed to make shopping at the grocery giant more convenient for customers, who will be able to do their weekly shopping alongside collecting and returning their parcels in one trip.
Heavy online marketing spending by Temu and Shein is making it more costly for other retailers and brands to reach shoppers on Black Friday, marketing and industry experts say, with both platforms bidding heavily on search keywords used by competitors. Shein did not immediately reply to a request for comment.
Marketing and Brand Impersonation Scams Brand imposters are a growing problem for major brands, but no brand is immune in the digital age. North American retail and ecommerce businesses now lose a total of $3 for every dollar of fraud they experience, and as mentioned earlier, most customers wont return to a site after a fraud experience.
The forex exchange market is the largest and most liquid global financial market, with trillions of dollars’ worth of different currencies traded daily. For most of us, it is a decentralized network of participants trading various pairs of currency, with pricing managed by market forces or demand and supply.
Australia and New Zealands leading pureplay online fashion, lifestyle and sporting destination has had a year of evolution; with seemingly smooth transitions overhauling the businesss order warehouse management system (OWMS), building a new B2B platform business and tackling the intricate returns issue. So of that, whats actually bracketing?
Earlier this month, Asda’s market share tumbled further, dropping one percentage point from 13.5% Commenting on Leighton’s return to the supermarket giant, Grocery Insight CEO Steve Dresser notes: “I don’t think anyone could have foreseen it. as sales fell 5.5% in the 12 weeks to 3 November.
We wanted to ensure our Roblox update would create strong reach and impressions for our target youth market,” the Clarks marketing team said in a statement to Retail TouchPoints. Clarks has seen “incredible success” on the platform, according to the brand’s marketing team, generating the following results: 16.2+
The digitalisation of media has seen advertising budgets diverted towards social media campaigns and search engine marketing in Australia, 70 per cent of digital advertising spend goes to Meta and Google. For many retailers, these platforms have grown to consume the whole marketing funnel and their templated options have become the default.
Full-fledged fingerprinting around the internet is depreciating, and marketers and customers alike will soon notice, particularly in the retail and ecommerce space. With today’s emphasis on privacy, third-party cookie deprecation will inevitably impact your brand, marketing strategy and customers.
Kantar reported that the market share for the UK’s third largest grocer now sits at 12.6%, down 1.1% Asda’s weak performance contrasts discounter rivals Aldi and Lidl, both of which gained ground during the period in both sales and market share terms. during the period, which helped to bump its market share up 0.1
Kogan has returned to strong top-line growth in the fiscal first half, which was fuelled by solid holiday sales. A strategic decision to invest incremental profitability in marketing and promotional activity from November helped the company to achieve accelerated topline growth, the company elaborated. per cent increase year-on-year.
In addition to rapid advances in AI that have brought the technology into the mainstream, Stitch Fix also has struggled to maintain its first-mover advantage in the world of subscription fashion, with a host of new entrants pulling away clients and market share. explained Funderburk.
“Under his leadership Domino’s Pizza Enterprises Ltd grew from a Brisbane-based company to a truly global business – the market-leader in each of the markets the company has operated for more than three years in Europe and the Asia Pacific,” said Jack Cowin, chairman of Domino’s Pizza Enterprises.
These factors have made it challenging for retailers to plan and execute effective marketing strategies. As a result, many retailers are adopting a more conservative approach to their marketing spend, focusing on efficiency and return on investment (ROI). Four of these strategies include: 1. Leveraging affiliate channels.
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