Happy March 1st and Fat Tuesday!!
Listen,……. did you know that in the early Roman calendar, March (or Martius) was the first month of the calendar year? ….. Well now you do!
On to the top stories and articles from today!
Amazon’s Rising Shipping Costs – Visualized!
Per Visual Capitalist Amazon’s shipping and fulfillment costs have soared to over $151.8 billion (40x their 2009 levels). These costs include:
- $76.7B for Shipping, which includes sortation, delivery centers, and transportation costs amounted to $76.7 billion.
- $75.1B for Fulfillment costs, which include cost of operating and staff fulfillment centers, were $75.1 billion.
As a result of these trends, Amazon’s shipping and fulfillment expenses now represent 32% of their revenues:
Retail Media Networks Are One Of The Most Important Trends Of 2022, But They Need To Evolve
From the RetailGeek himself, Jason Goldberg – eMarketer forecasts that US Retail Media Networks will exceed $52 billion in ad sales by 2023.
Jason recommends eight ways “relatively rudimentary retail media networks of today” will need to evolve in to retain their momentum.
- Improve the shopper experience.
- Be more than just a tax.
- Demonstrate favorable return on ad spend (ROAS).
- Harness in-store audiences.
- Reach off-site audiences.
- Become self-service.
- Be more dynamic.
- Rationalize funding sources.
Why transformation leaders are needed in retail
Modern Retail shares not only what is transformation leadership, why it is important but also the 6 step you can take to become one.
- Invest in your employees and encourage them
- Act as an influential role model
- Be supportive and provide recognition
- Set high expectations
- Be adaptive and open
- Take calculated risks and follow your vision
Lastly, Target Announces Investments to Drive Long-term Growth
Target today announced its plan to invest up to $5 billion to continue scaling its operations in 2022. Target will invest in its physical stores, digital experiences, fulfillment capabilities and supply chain capacity that further differentiate its retail offering and drive continued growth.
