Economy

Articles on how the economy is impacting retail.

  1. Channel: Dollar/Value

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 […]
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  1. Trends & External Forces

5 Ways Brands Can Stay Competitive In A Recession

Economic volatility and uncertainty have become the order of the day. Some forecasters are using the “R” word (recession). Business is always difficult. In good times firms scramble to add capacity and meet demand while fending off the competition that is inevitably attracted to a robust and growing market. In bad times firms struggle to […]
3 min read
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  1. Trends & External Forces

5 truths about 2022 summer travel

This summer will bear witness to the clash of two great forces affecting the travel industry: the desire for post-lockdown “revenge travel” versus record inflation forcing households to budget more tightly. Luckily for the travel industry, the desire to take a summer vacation will win out, but inflation will affect what summer travel will look […]
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  1. Technology & Innovation

UK Facial Recognition Ruling Could Spur Innovation

The U.K.’s data-privacy watchdog’s recent $10 million fine on facial recognition company Clearview AI Inc. could spur innovation in the space, including advancements in payments technology, as it “sets clearer ground rules for balancing software innovation with people’s right to privacy,” according to a report in The Wall Street Journal Wednesday (May 25). The Information […]
2 min read
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  1. Corporate Purpose

Victoria’s Secret Launches Digital Platform Dedicated to Women and Minority-Owned or Led Brands

Victoria’s Secret has launched VS&Co-Lab, a curated digital platform designed to connect shoppers with unique brands and their stories, while bringing their intimates, lifestyle and swimwear products to the forefront. The emphasis will be on brands that align with the retailer’s values of innovation and inclusivity. The collection will feature 19 brands at launch, with […]
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  1. Trends & External Forces

Kohl’s expects lower bids as inflation weighs on consumer purchasing activity

Kohl’s is anticipating that initial bids received from prospective buyers may be revised downward based on slowing sales in the face of inflation. The retailer last week cut its full-year earnings forecast coming off a disappointing first quarter.
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  1. Shopper & Customer

Klevu report – Majority of UK e-commerce sites’ search engines don’t work

78% of of e-commerce websites in the UK are unable to convert shoppers due to their inability to “understand” natural language and thus, shoppers’ intent, according to a new report from Klevu. This found that over three quarters of the 50 retailers researched delivered zero or irrelevant results when presented with conversational queries. Only 20% […]
2 min read
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  1. Corporate Finance

Worth Reading:  How Ecological Collapse Is Inextricably Linked To Capitalism

During my conversation with Plastic Bank’s David Katz, above, I reference a piece I read in the Tufts Observer, a student magazine at Tufts University.  Written by an impressive young writer named Meghan Smith, it essentially argues that the benchmarks traditionally used in a capitalist society may not be appropriate when grappling with climate change. […]
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  1. Corporate Finance

SEC Proposes Stronger ESG Transparency For Markets

The Wall Street Journal reports that “regulators proposed new disclosure and naming requirements for investment funds that tap into public angst regarding climate change or social justice, in an effort to address concerns about ‘greenwashing’ by asset managers seeking higher fees. “The Securities and Exchange Commission voted Wednesday to issue two proposals that aim to […]
2 min read
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  1. Department & Category

Costco earnings will show if its recession proof

Costco is expected to report gains in sales and earnings as its combination of low prices and products for everyday life attract shoppers to its warehouse stores. The chain is further buoyed by its gas stations that offer members savings over market rates.
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  1. Channel: Restaurants

Starbucks Sells Evolution Fresh To Bolthouse Farms

Starbucks announced yesterday that it is selling its Evolution Fresh business to Bolthouse Farms.  Terms of the deal were not disclosed. The announcement said that “Evolution Fresh is a leading producer of primarily organic, cold-pressed, premium juice products. By joining forces with Bolthouse Farms – the No. 1 super premium refrigerated beverage brand and largest […]
2 min read
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  1. Department: Consumer Durables

Nordstrom Shuts Down Trunk Club Shopping Service

Nordstrom announced yesterday via email to members of its Trunk Club shopping service that it is closing the service down, effective the end of the month. On its website and in an email, the retailer said: “As a valued Nordstrom Trunk Club customer, we thank you and appreciate your loyalty. “While we will no longer […]
2 min read
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  1. Technology & Innovation

What Should Retail Look Like in the Metaverse

While unusual to many consumers, the Metaverse Fashion Week, known as Decentraland, offered a glimpse into the future. For retail, the metaverse presents the optimal middle ground between the ease and convenience of online shopping and the immersive and tangible enjoyment of physical shopping. The metaverse can be seen as a third layer, a new market or […]
3 min read
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  1. Channel: Delivery

Quick commerce firm Getir set to axe staff and rein in expansion plans

Turkish rapid grocery delivery big hitter Getir is gearing up to cut 14% of its staff globally. The company employs some 32,000 people in the nine markets where it operates, which works out to 4,480 people impacted by the downsizing, according to a report by TechCrunch. These are challenging times for the rapid grocery delivery […]
2 min read
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  1. Trends & External Forces

Dick’s expects to ‘adapt quickly’ to macroeconomic challenges

Dick’s Sporting Goods is expecting sales to slump between two and eight percent this year and earnings per share to come in between $9.15 and $11.70 per share, down from its previous guidance of $11.70 to $13.10. Dick’s president and CEO Lauren Hobart acknowledged the company is facing macroeconomic challenges, including inflation, and expects her […]
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  1. 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 […]
2 min read
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  1. Trends & External Forces

Charts: Impact of Ukraine War on World Economy

The war in Ukraine will slow global economic growth and accelerate inflation. That’s according to the new “World Economic Outlook” by the International Monetary Fund. We address in four charts. The post Charts: Impact of Ukraine War on World Economy appeared first on Practical Ecommerce.
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  1. Trends & External Forces

Abercrombie & Fitch got off to a tough start in 2022

Abercrombie & Fitch posted a first-quarter loss of 27 cents a share despite a four percent rise in sales year-over-year. The retailer pointed to the impact of inflation on the cost of goods and freight as the biggest factors for its loss. The company pledged to manage its expenses as the year goes on.
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  1. Shopper & Customer

Tips for Preventing Shopping Cart Abandonment

Research indicates that 65 percent of retailers are more likely to sell to existing customers than to new customers, and it costs five times as much to attract new ones than to retain existing ones. It’s a clear challenge to keep and add customers to retail ecosystems. To e-commerce retailers, there are significant costs to […]
3 min read
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  1. Shopper & Customer

Enhancing the Last Mile for Retail Customer Satisfaction

Buying goods online is now easier than ever before — but customers expect a smooth shopping experience at every step. The e-commerce industry is growing at a rate of about 20 percent per year. In fact, it’s estimated that this year alone, it will account for $1.0 trillion in the United States. But how often […]
3 min read
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  1. Technology & Innovation

Five retail technology questions for Liam Patterson, CEO, Bidnamic

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 Liam Patterson, Co-Founder and CEO at Bidnamic (pictured above on the left). RTIH: Looking at the hottest retail technologies right […]
2 min read
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  1. 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 […]
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  1. Channel: Dollar/Value
  2. Channel: Dollar/Value
  3. Corporate Strategy
  4. Corporate Finance
  5. Department: Consumer Durables
  6. Media & Marketing
  7. Shopper & Customer
  8. Technology & Innovation
  9. Trends & External Forces
  10. Operations & Supply Chain
  11. 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 […]
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  1. Data & Insights
  2. Corporate Strategy
  3. Department: HBC
  4. Media & Marketing
  5. Data & Insights
  6. Shopper & Customer
  7. Trends & External Forces
  8. 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 […]
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  1. Retailer Media
  2. Corporate Strategy
  3. Media & Marketing
  4. Retailer Media
  5. 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. 
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  1. Technology & Innovation
  2. Partnerships & Alt Profit
  3. Media & Marketing
  4. Data & Insights
  5. Shopper & Customer
  6. Technology & Innovation
  7. Trends & External Forces
  8. Associates & Employees
  9. Merchandising
  10. Operations & Supply Chain
  11. Stores & Formats

Developing a Perfect Store Strategy in 2022

In 2022, the perfect store is rooted in constant evolution — a system that maybe isn’t perfect in every moment, but is agile always, malleable when needed, and capable of critical self-reflection. These innate characteristics of the modern perfect store are supported by, and in return support, the adoption of a few important technologies and […]
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