Media networks are retailers’ hottest new accessory; in fact, the sheer number of retailers that have developed retail media networks (RMNs) in the last two years is impressive, almost to the point of being overwhelming. The list, which changes nearly every day, now includes everyone from platforms like Shopify; multi-category merchants like Macy’s, BJ’s Wholesale…
In 2024, retail sales worldwide are expected to reach $30.6 trillion, a 4.3% increase over 2023 and the first time global retail sales are expected to surpass the $30 trillion mark. These growth rates present big opportunities for brands, especially those that want to reach digitally savvy consumers in new markets. Younger consumers are especially…
How do you become a good retail sales associate and move visitors from shoppers to customers? In the Broadway musical Hamilton, the character Aaron Burr offers this advice to the fast-talking Alexander Hamilton, “Talk less, smile more.”
Jeff Gennette, Chairman and CEO of Macy’s since 2017, plans to retire in February 2024 after a total of four decades with the retailer. He will be replaced in the top spot by Macy’s EVP and Bloomingdale’s Chairman and CEO Tony Spring, who has been named Macy’s President and CEO-elect and gained a seat on…
The bankruptcy of David’s Bridal in April — its second in five years — signaled more than just the potential demise of another ailing retailer, but a larger shift in the U.S. bridal industry. After being significantly disrupted by COVID, an underlying transition that was already beginning to surface pre-pandemic is continuing: couples are marrying…
Macy’s, Inc. has appointed Michael Krans as VP of Macy’s Media Network, where he will oversee the company’s in-house media business dedicated to connecting advertising partners with Macy’s and Bloomingdale’s customers. Krans, who will report to Chief Customer and Digital Officer Max Magni, joins Macy’s following his most recent role leading the fashion team at…
It’s no secret that holiday shoppers this year are looking for deals, and Google wants to help. A new dedicated Deals page in Search will bring together millions of on-sale items, and new features in Chrome are designed to help shoppers ensure they’re getting the best price on whatever product they have their eye on….
After years of decline, ContextLogic has sold its discount shopping app Wish for approximately $173 million in cash to Qoo10, an ecommerce platform that operates localized online marketplaces throughout Asia. Qoo10 is headquartered in Singapore and operates marketplaces in Singapore, Indonesia, Malaysia, mainland China and Hong Kong. In 2018 its Japanese marketplace was spun off and…
Just in time for Earth Day, Ikea is broadening the reach of its As-is resale offering by bringing it online. Ikea Family members can now browse the selection of gently used products at their local store and reserve items for in-store purchase and pickup. While the As-is section has long been an Ikea mainstay, it…
Amazon will close its two Amazon Style stores, located in Glendale, Calif. and Columbus, Ohio, by Nov. 9, 2023, according to CNBC and other media outlets. The stores had been open for less than two years: the Glendale location opened in May 2022, although the concept had been reported on as early as January 2022….
