Economy

Articles on how the economy is impacting retail.

  1. Technology & Innovation
The big takeaway Your customers will respond to offerings that are genuinely useful and helpful to them, even in an economic downturn. The key is investing in innovation that adds value, rather than chasing what’s trendy. Need proof?  Beauty giant L’Oreal has invested more in research and development every year, even in tough times. That […]
  1. Trends & External Forces
Ever since the COVID-19 pandemic, the economy resembles a chaotic rollercoaster ride that we can’t seem to get off. As a result, many companies are tightening their budgets and applying heightened scrutiny to their overall business strategies. An area in particular that’s sometimes the first to go is marketing, but that can actually cause more […]
  1. Channel: Specialty & Other
The Wall Street Journal reports that “Bed Bath & Beyond Inc. said it doesn’t have the funds to repay its banks after they determined the retailer has defaulted on its credit lines. “The home-goods chain said Thursday it received a notice of default from JPMorgan Chase & Co. on Wednesday. The banks are calling for […]
  1. Channel: Mass
GRAND RAPIDS, Mich. — Supercenter pioneer Meijer opened its first two Meijer Grocery stores in the Detroit metro area on Friday, introducing a more streamlined, food-focused shopping experience to customers in communities where there is no room for a full-sized Meijer store. “As a company, we’ve opened more than 500 supercenters, neighborhood markets and Meijer […]
  1. Channel: Drug
NEW YORK — CVS Health and Walmart said they will be reducing pharmacy hours to address the ongoing pharmacist shortage, The Wall Street Journal reported Friday. CVS plans to cut or shift operating hours at about two-thirds of its 9,000-strong U.S. network in March, while Walmart intends to close most of its nearly 4,600 stores two […]
  1. Channel: Restaurants
[[ Getty Images Chipotle Mexican Grill is seeking to hire 15,000 restaurant workers ahead of its busiest time of the year, which runs from March to May. In recent months, restaurants have found it easier to attract and retain workers, a reversal after the labor crunch that ensued after pandemic lockdowns. However, the sector has […]
  1. Trends & External Forces
[[ Getty Images Walmart-owned Sam’s Club on Thursday said it will open more than 30 new stores in the U.S., marking its most aggressive expansion in years. The warehouse club’s next store is expected to open in Florida in 2024. Sam’s Club also plans to open five fulfillment and distribution centers this year, with the […]
  1. Department: Consumer Durables
[[ Getty Images Hasbro said Thursday it would eliminate around 1,000 employee positions and warned of weak holiday-quarter results. Shares of the toy maker fell more than 6% in extended trading. “Despite strong growth in Wizards of the Coast and Digital Gaming, Hasbro Pulse, and our licensing business, our Consumer Products business underperformed in the […]
  1. Trends & External Forces
Saks Off Fifth laid off an unspecified number of workers on Tuesday. Saks.com cut about 100 workers from its payroll. Stitch Fix, Wayfair and others have also cut job cuts the start of 2023 as they attempt to operate profitably. “Retailers are really being cognizant of capital preservation,” said Catherine Lepard, who leads the global […]
  1. Trends & External Forces
Crypto-rewards health & fitness app, Sweatcoin, steps up personalisation with MoEngage. Sweatcoin, the step counting app that pays customers to get active by converting their steps into currency, has partnered with MoEngage, the leading insights-led customer engagement platform, to enhance customer engagement as it fuels the growth of its Movement Economy. Sweatcoin is a new breed of […]
  1. Shopper & Customer
Before you launch your brand in the United Kingdom, it’s important to know what’s going on in today’s U.K. retail market as it may differ from the markets your brand currently has a presence in. Whether the British market is familiar territory or completely new, here’s a deep dive into understanding the U.K.’s marketplace, retailers, […]
  1. Corporate Finance
Who still thinks about gold? Apparently, some long-term investors do. In the age of digitalization, gold remains a lucrative, stable investment. It has existed for a long time and provides many advantages to those who choose it to build assets.  Why? First, it’s a non-perishable asset, which means its quality doesn’t change regardless of market […]
  1. Department: Consumer Durables
When Nike’s ten business development principles were written by Rob Strasser in 1977 the words marketing, systems, research and planning were all dirty words inside of Nike’s culture. I know, I was there at a critical time in Nike’s growth. During those days Nike had very idiosyncratic, gruff, scruffy but brilliant leaders, who even thought […]
  1. Department: Consumer Durables
Foot Locker is making cuts to its staff and store fleet as it looks to trim costs under new leadership. The footwear retailer on Thursday announced that it would eliminate an undisclosed number of “corporate and support roles,” which the company expects to account for about $18 million in cost savings on an annualized basis starting […]
  1. Trends & External Forces
From the Washington Times: “A growing number of states have cut grocery taxes to relieve working Americans struggling with runaway inflation. “Five of the 13 states that taxed groceries last year — Kansas, Idaho, Illinois, Tennessee and Virginia — have since passed laws reducing their cut from supermarket transactions. That cut ranges from 4% to […]
  1. Department: Food
“Organic fresh produce sales grew by 3 percent in 2022, while volume declined by –3.7 percent, as total sales topped $9.4 billion for the year,” according to the 2022 Organic Produce Performance Report released today by Organic Produce Network and Category Partners. “Total fresh produce sales gained 7.3 percent in dollars for the year but […]
  1. Shopper & Customer
The beginning of the year is a time of great momentum and in the ever-evolving retail industry, you must always be prepared for what’s coming down the pipeline. In the past few years, I’ve seen a significant shift in retailers using technology to create more meaningful and personalized engagement strategies to inspire consumers to take […]
  1. Corporate Finance
Serta Simmons Bedding, the Georgia-based mattress company, filed for Chapter 11 bankruptcy on Monday, saying the move is an attempt, in part, to reduce the company’s debt. The company, owned by private equity firm Advent International, said it’s “operating as normal” — it earmarked $125 million in financing to keep operating — and the restructuring […]
  1. Associates & Employees
Walmart said yesterday that it is raising wages for all hourly workers in the US, a reflection of a continuing reality for retailers – front line staff shortages that are having an operational impact. In a memo to all US employees, John Furner, president and CEO, Walmart U.S., announced four ways in which he said […]
  1. Operations & Supply Chain
The Street has a story about how in the summer of 2022, as the consumer spending that typified the pandemic slammed headfirst into inflation and a post-recession mindset, “Walmart and Target both publicly declared that they had warehouses full of the wrong merchandise for the holiday season. “To fix that, both chains heavily discounted certain […]
  1. Trends & External Forces
Inflation may be cooling. But, for most Americans, the price of a cup of coffee or a bag of groceries hasn’t budged. In the months ahead, the big question is whether consumers will start to feel relief, too. Over the past few months, many of the key factors that fueled a four-decade high in inflation […]
  1. Technology & Innovation
We don’t exactly have a crystal ball to look into the future of PR, but we can make educated guesses based on our experiences and analysis. Here is our 2023 PR trends forecast:  AFFILIATE MARKETING The gift guide climate really evolved this year with affiliate links and/or major online retailer availability becoming a requirement for […]
  1. Technology & Innovation
Last week we released the first batch of Steve’s predictions. This week we conclude with six more, centering on how “hybridization” will steal the crown from omni-channel, how trading-down (in product and format) will define the year, the likelihood that big consumer credit troubles emerge, why strong balance sheets reign supreme, how the Metaverse is […]
  1. Shopper & Customer
Market segmentation is fundamental to brand-business building. When creatively and intelligently managed, market segmentation can provide insight into: Superior understanding of the customer so the brand-business can provide outstanding competitive advantage; Strategic focus that is essential for effective marketing; Identifying market priorities that can drive brand-business strategies. Dollar General applied market segmentation to generate its […]
  1. Trends & External Forces
Coming off a historic Black Friday and Cyber Monday performance, with sales at $9.12 billion and $11.3 billion respectively, according to Adobe Analytics, U.S. retailers can breathe a small sigh of relief. However, looking beyond the busy holiday shopping season is critical. With many economists predicting the country will enter a recession in 2023 and […]
  1. Operations & Supply Chain
2022 was a tough year for retailers and e-commerce sellers. With supply chain snarls around the globe, they’ve struggled to get the products they need. Now that those snarls are easing and products are flowing, sellers face diminishing consumer demand, which poses the threat of inventory sitting around unsold. In a survey of retail executives […]

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Editor’s Choice

  1. Shopper & Customer
  2. Department: Nonfood
  3. Corporate Strategy
  4. Corporate Finance
  5. ESG
  6. Media & Marketing
  7. Agencies & Vendors
  8. Data & Insights
  9. Shopper & Customer
  10. Trends & External Forces
  11. Holiday & Events
  12. Operations & Supply Chain
In a year when holiday spending on gifts, travel and entertainment was down 1 percent from the year prior, one age group bucked that trend in a huge way. Millennials, perhaps aided by increased incomes due to “The Great Reshuffle,” told us it would spend a whopping 11 percent more than it did in 2021, […]
  1. Data & Insights
  2. Department: Consumer Durables
  3. ESG
  4. Media & Marketing
  5. Data & Insights
  6. Shopper & Customer
  7. Technology & Innovation
  8. Trends & External Forces
  9. Holiday & Events
  10. Operations & Supply Chain
  11. Stores & Formats
While some trends come and go, there were a few trends that have stayed with consumers throughout the year.   As online shopping continues to be a popular choice for consumers, physical stores can offer shoppers perks that e-commerce can’t replicate.    This week we look at trends to increase foot traffic and customer loyalty. […]

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