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ICYMI: Excluding gasoline and automotive but including restaurants, retail sales were up just 0.16% last month on a consecutive basis, adjusted for seasonal variation, down from a 0.71% increase in July, as rising fuel prices impacted spending in other areas.
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| week of 9/20/23 |
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| Instacart Valued at $10 Billion in Long-Awaited IPO |
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| Instacart issued its long-expected initial public offering of stock on Tuesday, priced at $30 a share for a valuation of $10 billion, well below the $39 billion it was valued at after a fundraising round in early 2021, but at an offering price low enough to entice retail investors to join the party. The company has been profitable since Q2 2022 despite falling revenue, thanks to various trimming. |
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| Stitch Fix Aims for Growth, Post Restructuring |
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| Stitch Fix, the algorithm-driven, stylist-focused purveyor of subscription apparel, saw revenue drop 21%, a 13% decline in active clients and a 9% dip in revenue per client in 2023. But new CEO Matt Baer, a former Macy’s executive, sees a pivot leading to growth after a painful restructuring. The company is shutting down two of its five fulfillment centers to right-size operations and inventory. |
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| sponsored by |
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| Goods-to-Person Systems: Improving E-Fulfillment |
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Goods-to-person technology enables increased performance plus the flexibility to handle peaks and valleys in demand and labor availability. Learn how retailers are using them and the benefits.
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| Amazon Second Prime Day Runs Oct. 10-11 |
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| Amazon Prime Day 2, this time dubbed Big Deal Days, is now set for Oct. 10-11, the company announced, with the fall version now appearing to be a locked-in flash sale event catering to bargain-seeking shoppers who seemingly can’t get enough during the July extravaganza. Target and Walmart, not wanting to be left out, have competing events that coincide or run ahead of Amazon. |
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| Free Returns Still Drive Loyalty, Even As Thresholds Rise |
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| Even as more retailers are increasing thresholds for free returns shipping in the face of massive volume and steadily rising costs, 79% of consumers said they’d be more likely to make a repeat purchase from those offering free returns or exchanges, according to a new survey from solution provider Loop. 75% said they expect retailers to make new product suggestions based on their purchase. |
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| sponsored by |
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| Inventory Management Complexities Are Here to Stay |
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Check out Multichannel Merchant’s latest special report, Inventory Management Gets Trickier As Forces Collide, to stay ahead of inventory management challenges. Read now to hear what analysts are observing and what companies like Burton and Firstleaf are doing to help mitigate inventory management struggles.
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| Taking a Media-First Approach in Ecommerce |
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Cut through marketplace noise and win valuable mindshare by delivering compelling, engaging visual media experiences that will help you drive shopper connection, engagement, and conversion.
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| On the job hunt? |
| See open jobs for ecommerce and marketing. |
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