Retail
Omnichannel strategy, e-commerce tech, and in-store innovation.
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The customer experience is defining company strategy for virtually every industry. The idea of creating an experience that meets company goals goes well beyond environments such as retail stores or sports venues. It’s just as important in the B2B world and even more so in highly competitive markets. Bryan Harris, VP Sales & Marketing at…
Peloton to Sell Gear, Apparel Via Amazon as CEO Retools Strategy
(Bloomberg) — Peloton Interactive Inc. said it will sell bikes and certain accessories on Amazon.com Inc. in the US, breaking with a longtime practice of exclusively selling products via its own website and retail stores. The move to open a storefront on Amazon’s sprawling online marketplace will help Peloton expand its distribution and make products…
Platform Unification Is More Important Than Ever for Retailers
Successful retail requires flexibility. Recently, omnichannel was groundbreaking, but Retail Dive now reports it as a consumer baseline expectation. Let’s say a consumer is shopping on their mobile device. They transfer to their laptop to complete the transaction only to find an empty cart. These disconnections create enough friction for shoppers to jump and abandon…
What Makes Pumpkin Spice Season a $500 Million Industry
Much like Halloween decorations appearing in stores during the month of August and Christmas décor taking up prime retail real estate in October, the arrival of beloved pumpkin spice products continues to bring consumers joy earlier and earlier each year. The spice made up of cinnamon, nutmeg, cloves, and ginger has become synonymous with fall…
Multi-format Retail Offers Sellers the Opportunity to Expand Business with a Single Brand
Multi-format retailing has slowly entered the retail landscape over the past 20 years. The term is specific to the various formats a retailer takes with its brick-and-mortar stores versus multi-channel which includes online channels, catalogs, etc. Carol Spieckerman, President at Spieckerman Retail, spoke about the current multi-format mojo being flexed by significant retailers and why…
Lids Expands Merch into Collegiate Athletics with Lids University
Collegiate athletics, college sports fans, and the larger sports retail world locked in another merchandising win and opportunity as Lids, the leading hat and sports merchandiser, announced another expansion to its brand and a fresh crop of brick and mortar stores. Whereas with its last partnership, Lids teamed up with the Negro League Baseball Museum,…
How Card Issuers and Merchants Maneuvered One Year of Mastercard’s Magstripe Phase Out
Coming up on one year from the official announcement, retailers and card issuers rejoiced at Mastercard’s announcement that by 2024, issuers will no longer be required to use magnetic stripes on their credit and debit cards. In response to growing security concerns for storing customer credit card information on a magnetic stripe, EMV chip-based…
Micron’s Warning Adds to Evidence of Collapsing Chip Demand
(Bloomberg) — Micron Technology Inc., the leading US maker of memory semiconductors, became the latest chipmaker to declare that demand is falling off rapidly. It warned investors that revenue won’t meet projections, sending industry stocks tumbling. The company said early Tuesday that fourth-quarter sales are expected to be at the low end of or below…
Full Warehouses: Why Retailers Now Have Too Much Supply
Key Insights: Miscalculated supply and increased returns have led to overstock. The rate of consumer returns has doubled since 2019. Miscalculated supply is leading retailers to make major price cuts. Retail has been having a heck of a time keeping up with drastic changes. First covid demands left shelves empty, then supply chain issues caused…
How Buy Now Pay Later is Impacting the Store Experience
The popularity of BNPL (buy now, pay later) has grown tremendously over the past decade. The attraction of breaking purchasing payments up over weeks without interest or late fees is undeniable. In fact, “BNPL spending in the US is up 230% since 2020, per a September report by Accenture… [and] it’s estimated to total ~$226 billion this year,…
Independent Grocers to Build SNAP Ecommerce Programs with New USDA Grant
In a win for U.S. consumers and grocers, the U.S. Department of Agriculture’s Food and Nutrition Service is seeking applications for a $5 million competitive grant to help expand the number of independent retailers and grocers accepting supplemental nutrition assistance program (SNAP) benefits for online shopping. With approximately 41.5 million people participating in the SNAP program…
KPS Global Announces Succession Plan of Key Leaders
KPS Global® announced today the addition of several individuals as the company prepares for the retirement of key leaders. Lun Tsuei joined the organization as the Director of Research & Development. Leveraging his PH.D. from University of California, Berkeley and his MBA from the University of Texas, Lun is versed in lean manufacturing and disciplined…
How AI & AR Try-On Technology is Impacting All Shopping Channels
AI & AR (augmented reality) Try-On technology makes shopping for fashion, beauty, and skin care products fun. Leading the charge in this AI & AR space is Wayne Liu, Chief Growth Officer, and President of Perfect Corp. For the past several years, Perfect Corp has stood as an industry leader in AI & AR for…
How Retailers Are Rethinking Their Space to Maximize Experience and Flow
Retail in 2022 and surviving as a brick-and-mortar store means keeping up with the consumers and consistently improving the customer’s experience. Keeping up with the consumers means being able to know what is convenient for them and what drives a consumer to make a purchase. In this episode of Retail Redefined, hosted by Melissa Gonzalez…
Omnichannel Experiences Will Depend on Managed Devices and Cloud Ecosystems
The experience economy that drives omnichannel for today’s retail consumers enables them to bridge both the virtual and physical through a combination of seamless online and in-store shopping. Impero Software’s Toke Tangkjaer and Intel’s Brian Teuscher spoke with Bobby Brill on the managed devices and cloud ecosystem that support these innovations and how Impero…
US Consumer Confidence Hits 16-Month Low on Drag From Inflation
(Bloomberg) — US consumer confidence dropped in June to the lowest in more than a year as inflation continues to dampen Americans’ economic views. The Conference Board’s index decreased to 98.7 from a downwardly revised 103.2 reading in May, data Tuesday showed. The median forecast in a Bloomberg survey of economists called for a decline…
Video SEO is Gaining Importance, One Company is Disrupting How to Collect and Distribute Consumer Videos
SEO is a process in which a website is primed for direct traffic from search engines. SEO video is expected to grow in popularity and trend this year. Christine Russo chats with Bernadette Butler, CEO, and Founder of StoryTap. StoryTap is an intuitive system to collect and produce consumer videos on a vast scale. Butler’s…
Moving Online to Brick & Mortar Has Helped UNTUCKit Thrive
With over 12K retail locations closing in 2020, leaving 159M square feet of retail space unoccupied, many might be thinking that the future of brick and mortar retail locations is permanently on the decline. Nothing could be further from the truth. In fact, retailers opened more stores than they closed in 2021, “with a nearly…
Bringing Transparency to a Precious Natural Resource – Water
Katrina Donaghy, CEO of Civic Ledger, joins Zenobia Godschalk this week on ‘Gossip about Gossip’ for an in-depth discussion on Civic’s water market solution, Water Ledger. Water Ledger is a peer-to-peer marketplace for trading water rights & allocations, bringing #transparency and fairness to the notoriously opaque water markets by providing crucial information and commercial accessibility…
The State of Retail and How to Best Serve Your Customers
A recent guest at Shoptalk 2022, Melissa Gonzalez, host of Retail Refined, shares key insights regarding the state of the retail industry today. In addition to technological advancements, the COVID-19 pandemic also impacted sales and customer retention rates with in-person and online sales. The impact of retail sales in 2022 continues to be influenced by…
Inspired Banking Episode 4
The advent of the pandemic changed a plethora of industries. While some fell behind, others evolved to meet the changes. Keith Lennard, an industry expert for over 12 years and the VP and Head of Software at Hyosung, knows all too well how adverse events might positively impact an industry. Specifically in this case,…
Will It Be Possible to Create A Fully Autonomous Store?
Walking into a convenience store is meant to be quick and seamless, but often when a crowd appears, long lines can make shopping tedious and frustrating. The rise of artificial intelligence (AI) has made its way into shopping. CEO and Co-Founder Steve Gu sits down with What Just Happened? Host Christine Russo on the direction…
Cutting Wait Times Through Technology
Today’s consumers want new and easier ways to shop and travel. The challenges are therefore building innovative technology platforms that can help retailers and OEMs develop solutions to make user experiences easier. Inefi Technologies’ Leonard Gilbert-Wines and Intel IoT Group’s Stevan Dragas share how they’re helping lead the charge with technology that is cutting wait…
AI is Driving Market Personalization
When Gary Hawkings first started his career in retail, he didn’t know exactly where the road might take him. Rightfully, he has carved his own path and now sits down with host Christine Russo as the founder and CEO of CART, the Center of Advancing Retail and Technology to discuss CART’s purpose and the driving…
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