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MULTICHANNEL MERCHANT » RETAIL
Global ecommerce is fast becoming a mainstream objective as companies look to other shores for new opportunities as the domestic market becomes saturated.
Retailers and retail experts contacted by Multichannel Merchant were mixed in terms of the impact of the new Amazon Fire phone.
Beacon technology is at the top of the list of next “big ideas” for merchants. But to make the most of location-specific campaigns and analytics, retailers have to change the way they think about customer engagement.
In order to become what it is calling “a customer-centric business” and to improve the customer experience in-store and online, Toys R Us laid out several initiatives for 2014 that it hopes will improve the company’s operational performance.
So how did over 230 of the leading merchants fare during the 2013 Cyber Monday? This report analyzed retailers response to shipping and delivery timing, free shipping, promotions, returns and customer service.
Men’s Wearhouse and Jos. A. Bank announced that the merchants have entered into a definitive agreement in which Men’s Wearhouse will acquire all of the outstanding shares of common stock of Jos. A. Bank for $1.8 billion. Together, Men’s Wearhouse and Jos. A. Bank will have more than 1,700 stores in the U.S., with approximately 23,000 employees and sales of $3.5 billion on a pro forma basis.
Overstock.com announced that it has sold over $1 million in product to Bitcoin users since the online shopping site started accepting the cryptocurrency on Jan 9. According to Overstock.com, of the over 4,300 Bitcoin customers that made purchases with the site since January, almost 60% are new customers.
Target has announced that Beth Jacob, chief information officer, is resigning from her position as part of an “overhaul” of the retailer’s information security and compliance structure. Jacob’s resignation is effective March 5.
RadioShack announced this week that it plans to close 1,100 under performing stores as well as huge losses in its fourth quarter earnings. According to its Q4 financials, the electronics retailer reported that net sales and operating revenues for the quarter decreased to $935.4 million from $1.17 billion in the same quarter last year
Men’s Wearhouse has confirmed that it entered into a non-disclosure agreement with Jos. A. Bank and agreed to exchange certain confidential information and to work in good faith to evaluate a potential combination. It was also announced that Men’s Wearhouse has received a draft merger agreement from Jos. A. Bank.
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by Aaron Beach
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by Eido Gal
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