Retailers and CPG companies have had a symbiotic relationship for decades, teaming up to offer customers more choice in convenient in-person and ecommerce storefronts. As both take on each other’s challenges, they must learn from the other’s processes and best practices to sustain new revenue streams in the long term based on evolving consumer behaviors, preferences and spending habits.
Sports apparel retailer Foot Locker continues to be hampered in its results by the ongoing shift of major supplier Nike to a direct-to-consumer model, with Foot Locker reporting on its shifting revenue mix during its fourth quarter earnings report. The sneaker giant remains its largest supplier, but at a smaller scale.
On the same day it was announced Deliv was winding down its operations this summer, it came out that Target is in talks to snap up some of Deliv’s technology assets to bolster its local ecommerce fulfillment and bring founding CEO Daphne Carmelli onboard, NBC reported. Others had reportedly been looking at Deliv, including grocers.
Coresight Research reported a total of 9,275 U.S. store closures by major retailers in 2019, 35% higher than the 6,897 closures recorded in 2018 as the bleeding continues. Closings outpaced store openings more than 2 to 1, Coresight found, with 4,454 new doors in 2019, compared to 4,311 in 2018.
In the never-ending battle for holiday shopping dollars, clothing retailer Banana Republic is offering free same-day shipping from Wednesday, Dec. 17 through Tuesday, Dec. 23 as part of its “Procrastinators Event” promotional program, the company said in a press release.
Through crowdsourced same-day shipping provider Deliv, customers who use Banana Republic’s reserve in store option on its website can opt for free same-day delivery in eight cities: San Francisco, Palo Alto, Los Angeles, Chicago, New Jersey, Washington D.C., Houston and Seattle.
Amazon is once again pushing the ecommerce envelope, testing out the use of bicycle couriers in New York as part of a service called Amazon Prime Now, according to a report in the Wall Street Journal.
The service will provide delivery of some items purchased on Amazon.com in an hour or two, the Journal said it had been told by an unnamed source.
In a first in the athletic footwear and apparel space, Foot Locker has started a trial of same-day/next-day delivery at five stores in California, with plans to roll it out at its 1,300 locations across the U.S. and Canada
Foot Locker announced that it has officially acquired German-based specialty athletic retailer Runners Point Group. The acquisition of Runners Point Group represents a significant addition to Foot Locker’s European footprint, where it already operates more than 600 Foot Locker stores and had revenue of more than $1 billion in 2012.
Foot Locker announced that it has signed a definitive agreement to acquire Runners Point Group, a specialty athletic store and online retailer based in Germany, for approximately $94 million.