Kibo Acquires Monetate
Ecommerce technology company Kibo is acquiring brand personalization and content optimization platform, Monetate. The terms of the agreement were not disclosed.
Not a Good Week for Walmart
Last week was not a good one for Walmart or Marc Lore, its CEO and president of its U.S. ecommerce division. Walmart is reportedly selling personal shopping service Jetblack to outside investors, selling its online woman’s apparel brand Modcloth to Go Global Retail and trimming staff at men’s apparel retailer Bonobos.
Target Partners with Toys R Us to Power Its Ecommerce Site
Target announced it is joining forces with Tru Kids, the parent company of the Toys R Us brand, to help Toys R Us power its ecommerce site. Here is what customers can expect from the new ecommerce site.
NRF: 2019 Holiday Sales Expected to Grow 3.8%-4.2%
The National Retail Federation is predicting holiday retail sales between November and December could increase from 3.8% to 4.2%, for a total of $727.9 billion-$730.7 billion, from $701.2 billion in 2018.
Bed Bath & Beyond to Close 60 Stores
Bed Bath & Beyond announced it is closing an additional 20 stores from the original 40 the company announced in April. Here is how the company is reimagining its brick-and-mortar presence in the age of ecommerce.
Amazon Plans to Open U.S. Chain of Grocery Stores
Amazon plans to open a chain of grocery stores in the U.S. beginning with locations in Los Angeles, Chicago and Philadelphia. See whether Amazon competes with its own Whole Foods chains in the grocery arena.
Rent the Runway Back Up and Running After Logistics Snafu
Rent the Runway is back up and running after a supply chain and inventory issue occurred the first week of October. The subscription company is once again accepting new subscribers a week ahead of the date it had originally planned. Here is a statement from Rent the Runway about how it handled everything.
Forever 21 Filing for Chapter 11 Bankruptcy
After months of speculation, apparel retailer Forever 21 announced it is filing for Chapter 11 bankruptcy protection. The company had been exploring restructuring options to avoid liquidation as its business struggles continue.
Holiday Retail Sales Predicted to Top $1.1 Trillion, Deloitte Says
Overall holiday retail sales are expected to increase between 4.5% to 5% this holiday season, according to Deloitte’s annual forecast, passing $1.1 trillion in sales from November through January. Deloitte predicts ecommerce sales will increase 14%-18% during this period to between $144 and $149 billion.
Merchants Have Fallen Behind in Payment Innovation, Study Reveals
Merchant companies have fallen behind the retail banking and fintech industries in terms of payments innovation. A new report from ACI Worldwide and Ovum details regional differences in terms of progression along the innovation maturity curve, as well as the characteristics of organizations that are ahead of the pack.