Retail
Omnichannel strategy, e-commerce tech, and in-store innovation.
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Why Target Is Facing a $400 Million Profit Shortage
The consumer is feeling stressed, strategists are saying, and retailers should be cognizant as to why. With the holiday season fast approaching, companies would do well to reform their strategy to fit expectations. These areas of stress? Customers have less cash on hand than last year, and, as Lisa Miller, President, Lisa W. Miller…
Warehousers Beware: Peak Demand May Occur Outside the Holiday Season
As evidenced by record sales this last Black Friday, consumer demand for online shopping has never been higher. And thankfully for Christmas shoppers all over the world, retail supply chains are rebounded from pandemic levels. Walmart, Sam’s Club and Target all claimed their inventories are primed to meet peak demand, and will now have those…
Why Retailers Should Expect Walmart to Continue Strong-Arming Suppliers
Retailers like Walmart, Costco, Target, Home Depot, and many others are negotiating prices with their suppliers in categories stretching from food and household consumables to electronics and other durables. Tim Smith, CEO, Wiglaf Pricing gives his perspective on the recent stance Walmart is taking with suppliers, and why we should expect it to continue: “And…
Why Retail Partners Will Eventually See Cost Pressures Decline
Retailers like Walmart, Costco, Target, Home Depot, and many others are negotiating prices with their suppliers in categories stretching from food and household consumables to electronics and other durables. Tim Smith, CEO, Wiglaf Pricing gives his take on the logistics and labor costs involved: “With free or flowing supply chains, you’re going to see cost…
How Fixed Wireless Access is Ushering in a New Connectivity Era For Businesses
With new emerging 5G technologies, businesses are now better equipped than ever to operate in any environment, without the need for traditional cables. Replacing the traditional router with a personal antenna, major broadband companies like Verizon, T-Mobile and AT&T either currently offer enhanced fixed wireless access now, or plan to offer the connectivity option…
Is Today’s Biggest Crypto Story Even About Crypto?
The rapid downfall of cryptocurrency exchange FTX has piqued the interest of the world, but is it a crypto or even a regulation story? Or is it simply a cautionary tale of business mismanagement? There are many lenses from which to view the story from, with no consensus yet formed. Charlton Haupt, CEO of…
Organized Crime Targets Large Retail
Theft is always a concern for retailers. Particularly for stores like Target, which carries small but valuable products on open display shelves. While there has always been an understood amount of profit lost due to stolen or misplaced items, today’s retailers are dealing with something completely different. Organized crime, in the form of planned…
What Went Wrong With the NFT Market Collapse
A pulse check is needed on non-fungible tokens, as the total number of NFT sold and the total volume of NFT sold fell in October, setting monthly lows for 2022, according to Decrypt. What are the benefits that NFTs with real utility can bring to Web3 and what is preventing new consumers from entering…
Why Amazon Fashion Was the Answer For GAP Expansion
GAP just launched a dedicated storefront on Amazons fashion platform, marking the most recent of big brands turning to Amazon for e-commerce launches. What should onlooking retail businesses make of this trend? Co-Founder of Riverbend Consulting, Lesley Hensell gives her take on the news and highlights why the current cost of innovation could be a major…
Service Bots: The New Solution to a Labor Shortage?
Every one of us has, at some point or another, experienced the dreaded “let me put you on hold” when attempting to speak to customer service. Well, that may no longer be an issue in the future, as video and voice AI shopping and service assistance for brands and enterprises are rolling out. With…
Understanding Edge to Cloud in Retail and Trending Use Cases
The concept of edge to cloud is growing in importance within the retail landscape. Retailers are increasingly implementing edge-to-cloud solutions to positively impact their businesses. In the latest episode of “Intel To the Edge and Beyond,” host David Dobson, Intel’s Global Industry Director for Retail and Hospitality, visited the subject with VMWare’s Ryan Wehner,…
Target Was the Target of Retail Thieves in 2022, And It Cost The Company Millions
Target’s recent quarterly earnings were unfortunately lackluster all-around, missing quarterly expectations with a profit margin of 3.9%, lower than its 5.35% estimates. Consumers’ dwindling confidence and tightening pocketbooks are likely to blame for a slow down in revenue for the retail giant; chairman and CEO of Target blamed “meaningfully” lower sales and profit margins…
Reducing Returns from Online Shopping with Augmented Reality
Almost any good or service can be provided online in today’s day and age. You can do just about anything, from browsing and ordering clothing online to ordering groceries on an app and having them delivered to your home. But when it comes to retail shopping for clothing items, how will you know if…
Is Marketing on Twitter Business as Usual?
Jaclyn Sergeant, Owner of Sergeant Digital, gives her take on the new ownership of Twitter and what that might entail for businesses moving forward as they keep the consumer in mind. The world’s richest man, Elon Musk completed a $44 billion deal to own the social media company and has since made controversial…
A Perspective on Gap’s Recent Announcement to Sell on Amazon’s Marketplace
Spieckerman Retail, President, Carol Spieckerman provides her perspective on Gap’s recent announcement to sell on Amazon’s marketplace. What is the impact of this on the strategy for big brand eCommerce launches of proprietary marketplaces? Amazon’s marketplace has become so popular that even big brands are turning to it instead of building their own. Carol’s Thoughts:…
Not Your Father’s ATM: The Emerging Market of Cash to Crypto
On the latest episode of Point of Scale, James Prebil interviews Derek Muhney, the Executive Vice President and Head of Marketing at Coinsource — a Bitcoin ATM company and network. The two discussed Coinsource’s growth, how standing apart from other Bitcoin companies and compliance played a factor in their expansion and the types of customers…
What Just Happened: Improving the Purchase Journey Through AI
Different shoppers search for products in unique ways. It’s estimated that 87% of shoppers start their purchase journey with online searches. Personalization is an incredibly effective tool. But how can online retailers implement the language of the user throughout their product descriptions, search results, and website? On this episode of What Just Happened?…
Point of Scale: Monday Monolog
Happy Monday everyone! Last week was a crazy week in retail where a lot of typically big news got missed and/or glossed over with the midterm elections dominating most newsfeeds. Two big stories that really stuck out to me: The NRF released its annual Holiday Spending Forecast and the implications of Amazon’s historic dip in…
What Retailers Should Focus on This Inflationary Holiday Season
Lisa Miller, President, Lisa W. Miller & Associates shares with us what retailers should focus on to ensure the inflation grinch doesn’t steal this holiday season. Lisa’s Thoughts: What can retailers do to make sure the inflation Grinch doesn’t steal this holiday season? From our research, consumers are looking to you, the retailers, not just…
The Biggest Barriers to Energy Efficiency for C-Stores
Convenience stores face an uphill battle in becoming more energy efficient. The 24/7 nature of these locations combined with the increasing popularity of electric vehicles means that urgency is growing to remedy this situation. Jon Bolen, CEO of ENTOUCH, explains these challenges for us in more depth. For more on this topic, check out Jon’s…
Breaking Down WGSN’s Consumer Marketing Insights from Cannes Lions
Cannes Lions is where creative excellence shines. The International Festival of Creativity, held since 1954, is where the world’s top-ranking agencies, brands, and creatives gather to share and collaborate. After a two-year festival hiatus due to the Covid-19 pandemic, the Cannes Lions roared again. WGSN, a leader in consumer insights, was there at the…
Solving Consumer-Facing Challenges Through Open-Source Technology
Consumer-facing industries such as retail and hospitality need help to get to their solutions faster. Accelerating solution-based development is a critical step to accomplishing this goal. Communicating with devices at the edge has proven a challenge for these sectors, as their primary concern is accessing that data, not necessarily the process that drives the result….
Aldi & Walmart Cutting Prices: Strategies for Grocers to Balance Profit Margins With Customer Loyalty
Carol’s Thoughts: Executing price cuts on Thanksgiving could be seen as a super risky move. But there are several reasons why these price cuts are no sacrifice for Walmart. Price cutting and grocery in particular allow Walmart and Aldi to reaffirm and reassert their price leadership. The discounts also drive traffic both online and…
Retail Innovations of Today and Tomorrow
The present is fleeting. What consumers want today may not be the same tomorrow, so for retail strategists to stay on top, they must focus on the future ahead. Inflation and rising prices affect consumer spending today. Will those spending habits change long-term behaviors? What innovations will lead retailers to success from now until…
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