Marvin Ellison, chairman, president and CEO of home improvement retailer Lowe’s, credited a faith in God and a worth ethic instilled by his parents that helped him achieve far beyond his humble roots, going from a part-time stocking clerk earning $4.35 an hour at Target to heading up a Fortune 500 firm.
OneRail, an Orlando-based startup with software that optimizes last-mile deliveries, has raised $33 million in a Series B round to further develop its platform and bring in new talent to fuel its growth, with plans to launch an extension for SMBs on Shopify in 2023.
For 16 years, Alen has been selling its a top-rated air purifiers on Alen.com and Amazon. Now the company has expanded into retail, with product in 300+ Lowe’s stores, with potential for expansion. Alen has seen sales climb 210% growth since 2020. The CEO and the COO of Alen talk about the company’s growth and channel approach.
Lowe’s may still be Avis to Home Depot’s Hertz atop the home improvement sector, but it has something the orange big-box giant doesn’t: nationwide same-day delivery through an expansion of a trial that began in February with formerly grocery-only service Instacart in select locations.
After the explosion in holiday ecommerce, comes the flood of holiday returns, expected to cost retailers $1.1 billion, twice what it did in 2020, according to data from Narvar. goTRG and Returnly both said Dec. 26 was the peak day for consumers to initiate returns. UPS traditionally lists Jan. 2 as peak returns day for transit of returns.
Flexe, pioneer of he concept of warehouse on demand, has raised $70 million to build out its technology platform and facilities network connecting shippers with available space while also providing WMS and OMS capabilities. The company has increased its facilities base 50% to 1,500 in the past year as ecommerce demand has exploded.
Amazon and Best Buy are both touting their expanded network of alternate pickup locations to deal with the holiday crush ahead of Black Friday, giving shoppers more options for getting their stuff fast. Amazon said it has Hub locations in more than 900 cities and towns, while Best Buy’s network is over 16,000.
Catching up with category leader Home Depot, Lowe’s is rolling out lockers for ecommerce order pickup in the front of stores in the New York tri-state area, Philadelphia and Charlotte, NC, with plans to expand to all 1,729 U.S. stores by March 2021. Lockers will be added in Florida, Washington and Texas in the coming weeks.
SheerID, whose software quickly verifies a person’s status as a member of a particular consumer “tribe,” has raised $64 million in an equity round. It defines identity marketing as a form of personalization focused on winning over consumer tribes that align with the brand’s promise. Clients include Target, Amazon, Lowe’s and Urban Outfitters.
Prime Day saw 175 million items purchased by Prime members over the two days, according to Amazon, eclipsing its 2018 Black Friday and Cyber Monday sales combined, while analysts pegged total GMV at $6 billion to $6.2 billion. See what other interesting statistics we found to paint a picture of the concocted “Christmas in July.”