Kohl's partnership with Amazon is working to drive traffic to the retailer's stores, CEO Michelle Gass said at NRF 2020 Vision: Retail's Big Show. Kohl's accepts Amazon returns at its stores and that feature is bringing in new and younger shoppers, she said.
The US economy set a record for consecutive monthly growth last year amid strong consumer spending that's expected to continue in 2020, NRF Chief Economist Jack Kleinhenz said at NRF 2020 Vision: Retail's Big Show. "I don't see any sign of a downturn. The consumer continues to be the driver for the economy, and has the ability and willingness to spend," he said.
Empower decisions with in-store behavior data Having a hard time picturing how in-store analytics data can enrich your business decisions? Join this webinar to learn about three hands-on use cases where shopper behavior metrics were applied to optimize product positioning, promotions and category management. Register here
CVS Health will remodel about 12 stores every week to end the year with 600 HealthHUB locations by year's end, CEO Larry Merlo said. HealthHUB stores feature more services and health-related products and the small number of locations that have been transformed so far are seeing higher traffic, he said.
Transform Holdco, the new owner of Sears and Kmart stores, has reached a settlement with the estate that was left after Transform acquired the company out of bankruptcy. Transform will pay $12 million to the estate, according to court documents.
Albertsons, the nation's second-largest supermarket chain and the parent of Jewel-Osco and Safeway, is reportedly considering going public in 2020, after shelving similar plans in 2017. Sources say the company is updating documents filed with the Securities and Exchange Commission and some estimate Albertsons could be valued at $19 billion.
How to Succeed in Modern Retail? Data. Consumers have made it clear they want a combination of convenience and personal connection in their shopping experiences. But how can retailers reconcile the two? Download our ebook on How to Succeed in Retail by Forming Customer Connections Through Data.
Retailers can stay relevant with unusual partnerships like Crate & Barrel's launch of an in-store eatery with Cornerstone Restaurant Group, Crate & Barrel Holdings CEO Neela Montgomery said at NRF 2020 Vision: Retail's Big Show. Other retail executives shared insights into exceeding consumers' expectations, including Enjoy CEO Ron Johnson who advised retailers to focus on their own futures instead of imitating rivals.
Bath & Body Works has remained popular with mall shoppers in changing times, with 1,600 stores, 40 consecutive quarters of sales growth and plans to open new locations. Its successful strategy includes a careful balance between prestigious and affordable products that appeal to shoppers of all ages, displayed in brightly lit stores.
Real-Time Data Platform for Ecommerce Aerospike powers personalized recommendations and increases cart sizes by 30%. Create true Customer 360 by unifying CRM, ERP, Mobile and IoT data. Minimize transaction fraud false positives by 30x. Daily 4pm drawings for $250 Wayfair Giftcards @ booth #959.www.aerospike.com/ecommerce
From expanding its fleet of robots to opening a new cashierless market in Miami, Walmart is boosting its use of in-store technology. The retailer will expand its shelf-scanning robots from 350 to 650 stores by this summer, while in Miami a new Neighborhood Market is debuting cashierless checkout, along with a "Check Out With Me" option, which allows workers using handheld devices to check out customers from anywhere in the store.
RFID technology to manage inventory, deter theft and personalize the shopping experience was a hot topic in retail five years ago, but the buzz hasn't translated into widespread use. High costs and the complexity of getting every manufacturer and vendor to include RFID tags have been key stumbling blocks, analysts say.
Upcoming Webinar: Become 2020 Innovation Index Join Mastercard and Harvard Innovation Fellow, Dr. David Ricketts, for a webinar to discuss insights from Become 2020. Powered by Mastercard and based on annual research by Harvard Business Review Analytic Services, the Become Business Innovators Index identifies innovation best practices from global leaders. Register now.
Walmart's Intelligent Retail Lab is a fully operating store with an in-store artificial intelligence lab. In this special NRF 2020 Vision: Retail's Big Show episode of the Retail Gets Real podcast, ILR CEO Mike Hanrahan shares more about the lab and what it means for the future of retail. Listen here.
Starbucks CEO Kevin Johnson sat down with Fast Company Editor-in-Chief Stephanie Mehta at NRF 2020 Vision: Retail's Big Show for a conversation on nurturing humanity and the role of shared experiences and community in the modern-day retail environment. Read more.
TGI Fridays derives about 30% of its revenue from bar sales, and the chain is testing improvements to everything from lighting and music to drink menus, to breathe new life into its bars. Late last year the company announced a merger with special purpose acquisition company Allegro Merger, which would take the chain public.
New 2020 Report: Tech + Trends for Brand Growth Are you prepared for the emerging trends & tech redefining digital marketing? Get this report to learn how AI, attribution, video, social proof, web optimization, influencer marketing, privacy, & more will reshape advertising in 2020 & beyond. Claim my copy