Trends & External Forces On Several Fronts, Measured Economic Confidence In a number of unrelated stories this morning, there seems to be a consensus that while inflation will be a continuing problem, the economy is in generally good shape, with some level of confidence that there will not be a recession anytime soon. From CNBC: “U.S. consumers are ‘in good shape’ and will keep spending […] MorningNewsBeat May 25, 2022May 25, 2022 2 min read EconomyConsumersExecutivesBest BuyPredictions and ForecastsDept. NonfoodDept. Consumer ElectronicsCOVID19StrategyTechnology & Innovation 0 Saving Bookmark this article Bookmarked
Shopper & Customer If your Restaurant, C-store or Deli is not Showroom or Salesroom You’re in Trouble There is no doubt that consumers are evolving with technology so fast many retailers feel that they can’t keep up, it cost too much to keep up, or that they should not try to keep up. The team at Foodservice Solutions® believes that it’s not the technology that’s the problem. The problem is how […] Grocerant Guru May 25, 2022May 25, 2022 4 min read Dept. GroceryConsumersShoppersGoogleRestaurantsData & InsightsDept. Fresh PreparedDept. DeliDept. PerimeterTechnology & InnovationBrick and MortarDept. FreshPlatedDeliveryPartnershipsFood DeliveryPricing & PromotionsAmazonMarketing: In StoreBest BuyTargetMarketing: Direct & PersonalizationMarketing: SocialOperations & Supply ChainMeta (Facebook)Marketing: TradeBankruptcyWarby Parker 0 Saving Bookmark this article Bookmarked
Trends & External Forces Best Buy expects to take a hit from inflation Best Buy’s sales fell 8.5 percent during the first quarter and earnings were down as the consumer electronics chain reported a modest increase in inventory. The retailer reduced its forecast for the year, but CEO Core Barry was confident in its future prospects. “Even with the expected slowdown this year, we continue to be in […] RetailWire May 24, 2022May 24, 2022 < 1 min read Best BuyEconomyPredictions and ForecastsResults & InvestmentOperations & Supply ChainExecutivesDept. NonfoodDept. Consumer ElectronicsCOVID19Consumers 0 Saving Bookmark this article Bookmarked
Trends & External Forces Best Buy trims sales expectations as pandemic boom unwinds Inflation, the end of stimulus and a return to experience spending hurt sales at the retailer — but it could have been worse. RetailDive May 24, 2022May 24, 2022 < 1 min read COVID19Best BuyEconomy 0 Saving Bookmark this article Bookmarked
Channel: Specialty & Other Best Buy Revises Its FY23 Plans After Q1 Struggle Best Buy hasn’t been able to withstand the economic triple whammy of a pandemic, supply chain snags and a looming recession as well as some other brands, and that struggle has the company rethinking what lies ahead for it the rest of this fiscal year. While Best Buy stock continued to rise in early trading […] Pymnts.com May 24, 2022May 24, 2022 2 min read Best BuyBrick and MortarTechnology & InnovationCOVID19Predictions and ForecastsHealth & WellnessEconomyOperations & Supply ChainMarketing: SocialResults & InvestmentExecutivesDept. HBCSustainabilityPress ReleaseAssociates 0 Saving Bookmark this article Bookmarked
Trends & External Forces Best Buy sales decline, but not as much as Wall Street expected Best Buy’s revenue beat Wall Street’s revenue estimates for the fiscal first quarter. CNBC May 24, 2022May 24, 2022 < 1 min read EconomyBest Buy 0 Saving Bookmark this article Bookmarked
Channel: Delivery Instacart Begins IPO Process The Wall Street Journal this morning reports that Instacart filed “confidentially” a draft registration statement with the US Securities and Exchange Commission (SEC), a first step in the process of an initial public offering (IPO). The New York Times explains that a confidential filing means that “it does not yet have to disclose certain data […] MorningNewsBeat May 13, 2022May 13, 2022 2 min read InstacartDeliveryResults & InvestmentStart UpsCOVID19PartnershipsEconomyGovernmentData & InsightsQ CommerceGopuffFood DeliveryCompetitionAcquisitionWhole FoodsBrick and MortarTechnology & InnovationDept. NonfoodDoorDashBest BuyAmazonWalmartSustainabilityShoppersPredictions and ForecastsOperations & Supply ChainKrogerExecutives 0 Saving Bookmark this article Bookmarked
Stores & Formats Best Buy to Double its Number of Outlet Stores Over the next year, Best Buy will double the number of outlet stores it has to 32 — starting with new outlets in Chicago, Houston, Phoenix, and Manassas, Virginia — and add an outlet deals section to its website for the first time, the company announced earlier this week. Best Buy has operated outlet stores since […] Joe Keenan May 12, 2022May 12, 2022 < 1 min read Brick and MortarBest BuyConsumersBOPISDept. NonfoodOmnichannelDept. AppliancesMarketing: TradeMerchandisingPricing & PromotionsDept. Consumer ElectronicsStrategy 0 Saving Bookmark this article Bookmarked
Channel: Specialty & Other Best Buy just launched a $200 home pick-up recycling program. Is it necessary? For consumers looking to avoid e-waste, retailers are filling a gap left by manufacturers. RetailDive May 12, 2022May 12, 2022 < 1 min read SustainabilityBest BuyConsumers 0 Saving Bookmark this article Bookmarked
Shopper & Customer Your Views: Open Letter, Open Question We had an open letter to Jeff Bezos the other day that was highly critical of a new Amazon Fresh store, prompting MNB reader Monte Stowell to write: This open letter to Jeff Bezos by the 69 year old shopper is a call to action by Jeff Bezos. Does one believe that Jeff Bezos is […] MorningNewsBeat May 12, 2022May 12, 2022 5 min read ShoppersAmazonTechnology & InnovationGovernmentStreamingConsumersAssociatesHealth & WellnessDept. NonfoodStore FormatEconomyMarketing: Digital MediaBest BuyLegal & CriminalBrick and MortarCryptoDept. FreshDept. FuelDept. GroceryMarketing: PrintMarketing: In StoreMarketing: Broadcast 0 Saving Bookmark this article Bookmarked
Shopper & Customer Snow is Dazzled by Cutting-Edge ROS Functionality For most brands, winning endorsement from Kim Kardashian, with her 290 million Instagram followers, is the stuff dreams are made of. For oral cosmetics brand Snow, the Kardashian seal of approval is one in a long line of celebrity recommendations, including from film stars such as Chris Pratt, TV legends such as Ellen DeGeneres, and […] Mark Hook May 11, 2022May 11, 2022 5 min read ShoppersOperations & Supply ChainCustomer ExperienceCustomer ExperienceInternationalPredictions and ForecastsConsumersPartnershipsData & InsightsDept. NonfoodShopifyTechnology & InnovationWalgreensMarketing: SocialStrategyResults & InvestmentPricing & PromotionsMeta (Facebook)Marketing: TradeBrick and MortarAssociatesHealth & WellnessMarketing: BroadcastDept. HBCBest BuyCOVID19DeliveryAmazon 0 Saving Bookmark this article Bookmarked
Channel: Specialty & Other Best Buy Expands Beyond Electronics Into New Categories Including Skincare Following a March 2022 announcement that it planned to expand beyond its roots in electronics, Best Buy is entering new categories including health and wellness, outdoor living and transportation. Citing technology’s connection to the health and wellness industry, Best Buy has introduced a new collection of skincare technology products from brands such as Foreo, Vanity […] Retail TouchPoints May 10, 2022May 10, 2022 2 min read Best BuyDept. NonfoodSustainabilityHealth & WellnessTechnology & InnovationBrick and MortarDept. HBCPartnershipsMarketing: Retail MediaInclusivityBOPIS 0 Saving Bookmark this article Bookmarked 4
Department: HBC Best Buy expands in-store assortment of beauty and e-transportation products Furniture is also playing a bigger role at the electronics giant after its acquisition of DTC brand Yardbird in November last year. RetailDive May 9, 2022May 9, 2022 < 1 min read MerchandisingMarketing: In StoreDept. HBCBest BuyAcquisitionDept. Nonfood 0 Saving Bookmark this article Bookmarked
Channel: Specialty & Other Best Buy moves into new categories including outdoor furniture Best Buy is adding beauty gadgets and outdoor furniture to its list of products for sale. The retailer is looking to move into categories including fitness/wellness and furniture to continue building on its growth achieved during the pandemic. RetailWire May 6, 2022May 6, 2022 < 1 min read Best BuyHealth & WellnessCOVID19Dept. HBC 0 Saving Bookmark this article Bookmarked
Channel: Specialty & Other Best Buy, known for selling TVs and smartphones, expands into beauty gadgets and patio furniture The retailer is broadening its assortment as it laps a period of high demand for electronics and sees more of consumers’ dollars directed outside of the home. CNBC May 6, 2022May 6, 2022 < 1 min read Dept. HBCBest BuyConsumersMerchandisingDept. Nonfood 0 Saving Bookmark this article Bookmarked
Technology & Innovation Five retail technology questions for Christine Russo RTIH asks major players in the retail technology space for their thoughts on the sector, and throws in a random question to keep them on their toes. This time around, our five questions go to leading industry analyst and RTIH Innovation Awards judge Christine Russo. RTIH: Looking at the hottest retail technologies right now, check-out […] Retail Technology Innovation Hub May 6, 2022May 6, 2022 2 min read Technology & InnovationMarketing: SocialExecutivesMetaverseTwitterTrends: TechShoppersBrick and MortarOmnichannelWalgreensTech: CashierlessTech: RoboticsTech: AIStrategyAssociatesPredictions and ForecastsBest BuyQ CommerceNFTDept. HBCblockchainCVSDeliveryAI / ML 0 Saving Bookmark this article Bookmarked
Corporate Purpose Trying To Identify a Corporate Purpose? You Don’t Have To Save the World It’s easy to declare yourself a purpose-driven organization. It’s much harder, however, to identify just the right purpose, and to activate it throughout the organization so it naturally elevates your business strategy and operations. Driven by stakeholder demands for companies to stand for more than profits, and a belief that businesses are more capable than […] Salesforce May 2, 2022May 2, 2022 7 min read PhilanthropyAssociatesShoppersHealth & WellnessCVSStrategyConsumersPartnershipsData & InsightsSustainabilityExecutivesGovernmentConsultingDept. ApparelOperations & Supply ChainInclusivityBest BuyBrick and MortarCOVID19Dept. GroceryMarketing: BrandPodcastsPredictions and ForecastsTargetTechnology & Innovation 0 Saving Bookmark this article Bookmarked
Channel: Specialty & Other Best Buy recalls air fryers following reports they caught fire Best Buy us recalling 772,000 air fryers after receiving more than 100 reports that the devices burned, caught fire and/or melted. RetailWire April 25, 2022April 25, 2022 < 1 min read Best Buy 0 Saving Bookmark this article Bookmarked
Channel: Specialty & Other Best Buy launches haul-away service that comes to shoppers’ homes Retail Customer Experience April 22, 2022April 22, 2022 < 1 min read ShoppersBest Buy 0 Saving Bookmark this article Bookmarked
Shopper & Customer Best Buy is selling haul-away recycling to consumers Best Buy’s new Standalong Haul-Away service will come to customers’ homes and take away unwanted tech equipment and appliances for a $200 fee. There are a set of rules and restrictions on the number and type of items the service will accept. Members of Best Buy’s Totaltech program will receive a 20 percent discount on […] RetailWire April 22, 2022April 22, 2022 < 1 min read ConsumersBest BuySustainabilityTechnology & InnovationDept. NonfoodDept. Appliances 0 Saving Bookmark this article Bookmarked
Department: Consumer Durables Best Buy, DSW, Sephora, Thrive Market, Adidas tops in personalization Retail Customer Experience April 15, 2022April 15, 2022 < 1 min read Marketing: Direct & PersonalizationDept. ApparelBest Buy 0 Saving Bookmark this article Bookmarked
Operations & Supply Chain Why Retailer Market Fit Is Important For A Product Startup Many innovative product startups dream of getting into stores like Walmart, Best Buy, Costco and more, but fail to think about whether that is even a good thing. Don’t get me wrong, getting your product into several thousand stores can be great, but if you’re not ready to handle that business your retail dreams may […] Retail Bound April 11, 2022April 14, 2022 3 min read Operations & Supply ChainBrick and MortarConsumersWalmartStrategyTargetMarketing: PrintDeliveryBest BuyCostcoMarketing: BroadcastDept. Natural / OrganicBankruptcyTechnology & InnovationCVSAmazon 0 Saving Bookmark this article Bookmarked
Department & Category Jason & Scot Show Episode 288 – News and Q4 Earnings Report’s A weekly podcast with the latest e-commerce news and events. In episode 288 we cover some industry news and review retailers Q4 earnings reports. Subscribe: Apple Podcasts Google Podcasts Spotify Stitcher Podcast RSS SoundCloud TuneIn iHeartRadio Google Play Music Overcast Pocket Casts Facebook ????? News eTail West Tradshow Amazon Stock Split Shopify Fulfillment Network eBay […] RetailGeek March 16, 2022March 16, 2022 31 min read AmazonIndustry Conferences and EventsEconomyBOPISBrick and MortarConsumersMarketing: SocialCOVID19GovernmentDeliveryMarketing: Retail MediaDept. NonfoodDept. ApparelGoogleData & InsightsOperations & Supply ChainMetaverseCustomer ExperienceAssociatesDept. FuelCustomer ExperienceMarketing: BroadcastExecutivesMeta (Facebook)Legal & CriminalCryptoDept. FreshBest BuyDollar TreeDept. Sporting goodsDept. Adult BevCPG: Adult BeverageDept. HBCDept. Natural / OrganicMarketing: Digital MediaMarketing: In StoreMarketing: Direct & Personalization 0 Saving Bookmark this article Bookmarked
Channel: Specialty & Other Best Buy To Go Beyond Its Retail Comfort Zone CNN reports that Best Buy, having survived and even thrived despite tough competition from the likes of Amazon, now wants to “expand its footprint into health, fitness, personal electric transportation, outdoor products and other potentially big ticket areas outside of its core consumer electronics business. “It’s adding merchandise to stores in dedicated sections, such as […] MorningNewsBeat March 7, 2022March 7, 2022 2 min read Best BuyAmazonHealth & WellnessTechnology & InnovationBrick and MortarCompetitionExecutivesDept. NonfoodDept. Consumer ElectronicsCOVID19Consumers 0 Saving Bookmark this article Bookmarked
Stores & Formats Today in Retail: Big Lots Has Big Plans for eCommerce, Brick-and-Mortar Growth; Inside the Victoria’s Secret Brand Transformation Today in retail, Best Buy talks about the transformational power of technology, while Burlington Stores hopes to see foot traffic increase in 2022 after a Q4 slump has investors and analysts skittish. Plus, discount retailer Big Lots looks to increase its eCommerce sales. Best Buy Faces Higher Costs, Says Tech Has ‘Changed Every Aspect of […] Pymnts.com March 3, 2022March 3, 2022 3 min read Brick and MortarBig LotsTechnology & InnovationStore LocationShoppersExecutivesBest BuyEconomyDept. ApparelOmnichannelResults & InvestmentCustomer ExperienceCustomer ExperienceConsumersPartnershipsDept. HBCPredictions and ForecastsMarketing: In StoreMarketing: TradeInternational - North America 0 Saving Bookmark this article Bookmarked
Operations & Supply Chain Best Buy shares pop as investors bet pandemic gains will outlast fourth-quarter supply chain, staffing hiccups The retailer’s fourth quarter saw low inventory on some popular holiday items and reduced store hours. CNBC March 3, 2022March 3, 2022 < 1 min read Operations & Supply ChainCOVID19Best BuyHoliday & Events 0 Saving Bookmark this article Bookmarked
Operations & Supply Chain Best Buy Q4 sales fall on inventory gaps The retailer is placing a bet on its new membership and burgeoning advertising business as it laps a stellar year for consumer demand. RetailDive March 3, 2022March 3, 2022 < 1 min read Operations & Supply ChainBest BuyConsumers 0 Saving Bookmark this article Bookmarked
Technology & Innovation Praetura Ventures backs artificial intelligence startup Sparkbox Praetura Ventures has invested £1.5 million into Sparkbox, a UK-based startup that uses AI and data to help retailers’ merchandising teams make better stock buying and pricing decisions. Launched in 2019, Sparkbox works with the likes of River Island and MATCHESFASHION, enabling them to forecast demand, optimise their pricing and promotions and plan inventory to […] Retail Technology Innovation Hub March 3, 2022March 3, 2022 < 1 min read Technology & InnovationData & InsightsAI / MLDept. ApparelMerchandisingOperations & Supply ChainTech: AIMarketing: TradeSustainabilityPartnershipsBest BuyConsultingPredictions and ForecastsPricing & PromotionsResults & InvestmentInternational - UKShoppers 0 Saving Bookmark this article Bookmarked
Channel: Specialty & Other Best Buy remains positive after challenging quarter Best Buy reported a 2.3 percent decline in same-store sales as supply chain issues on popular products and reduced store hours tied to the spread of the Omicron variant dampened its performance. Matt Bilunas, Best Buy CFO, expects that sales in 2022 will remain above pre-pandemic levels. RetailWire March 3, 2022March 3, 2022 < 1 min read Best BuyCOVID19Operations & Supply ChainExecutives 0 Saving Bookmark this article Bookmarked
Shopper & Customer 6 Ways to Influence Purchasing Behavior History tells us that until a consumer hits “Buy,” they can easily change their mind or a competitor could snatch them away. At every step of the customer journey, a dozen brands are competing for their attention. That’s why you need to do everything you can to nudge potential customers along the path to purchase. […] Sean Reiter March 2, 2022March 4, 2022 6 min read ConsumersShoppersMarketing: Digital MediaMarketing: UGCBOPISData & InsightsPepsiCoPartnershipsMarketing: SocialCOVID19Technology & InnovationOwned Brands (Private Label)Marketing: In StoreCustomer ExperienceCustomer ExperienceMerchandisingMeta (Facebook)Health & WellnessDept. Natural / OrganicBrick and MortarWalmartHome DepotDept. NonfoodDept. Toys & GamesESG and CSRExecutivesMarketing: PrintMarketing: ShopperTargetBest Buy 0 Saving Bookmark this article Bookmarked
Channel: Ecommerce & Digital Shopper & Customer How to create the best delivery experience: 3 key factors As more consumers go online for their purchases, good delivery has become more important than ever. Find out how to step up your delivery game. Written by Future of Commerce May 27, 2022May 27, 2022 Saving Bookmark this article Bookmarked
Channel: Dollar/Value Channel: Dollar/Value Corporate Strategy Corporate Finance Department: Consumer Durables Media & Marketing Shopper & Customer Technology & Innovation Trends & External Forces Operations & Supply Chain Stores & Formats Dollar General post strong sales gains in first quarter GOODLETTSVILLE, Tenn. — Dollar General on Thursday reported net sales of $8.8 billion for its fiscal year 2022 first quarter, an increase of 4.2% over the prior-year period. The net sales increase was primarily driven by positive sales contributions from new stores, partially offset by a slight decline in same-store sales and the impact of […] Written by MMR May 26, 2022May 26, 2022 Saving Bookmark this article Bookmarked
Data & Insights Corporate Strategy Department: HBC Media & Marketing Data & Insights Shopper & Customer Trends & External Forces Merchandising CVS to launch virtual primary care solution WOONSOCKET, R.I. — CVS Health announced on Thursday the launch of CVS Health Virtual Primary Care, a new virtual care solution available through a single digital platform. The offering connects CVS Health’s services, clinical expertise, and data for a more coordinated and consumer-centric health care experience. The company said the new solution enables consumers to […] Written by MMR May 26, 2022May 26, 2022 Saving Bookmark this article Bookmarked
Retailer Media Corporate Strategy Media & Marketing Retailer Media Data & Insights 22% Of Brands Are Unhappy With How They Allocate Their Retail Media Budget. But There’s a Better Way Retail media networks (RMNs) are an exciting place to run ads, because of the valuable first-party data that retailers have about their customers. RMNs create an ability to target a specific retailer’s customers and provide valuable insights into how people shop. And brands certainly are not hurting for choices. Just last week, Ulta announced a media network and the hotel chain, Marriott, the week prior. Written by Bobsled Marketing May 26, 2022May 26, 2022 Saving Bookmark this article Bookmarked
Corporate Finance Retail Earnings Confuse Rather than Clarify Earnings, and retail earnings in particular, are not as straightforward as they sometimes seem. Written by NASDAQ May 26, 2022May 26, 2022 Saving Bookmark this article Bookmarked