Nogin, a company that helps brands improve their performance by providing a host of outsourced services, is doing its first acquisition with ModCloth, a year and a half after it was acquired by retail investment firm Go Global from Walmart. Terms were not disclosed. Nogin’s CEO said the company is looking to do more brand acquisitions.
Retail has changed more in the past year than in the previous decade. The pandemic has accelerated ecommerce and online options, out of necessity. Now, shoppers have more choices than ever, resulting in new demands for their desired in-store experiences, like scan & go. Here’s how it’s a win for retailer and shopper.
Saying coupon fraud costs the retail industry $100M/year is an oversimplification of the problem. Yes, that is the aggregated face value of mis-redeemed offers, but it doesn’t reflect all of the costs borne by industry players. Here’s a breakdown of how it affects manufacturers, retailers and consumers, and how to mitigate the impact.
Big data presents supply chain and ecommerce fulfillment center managers with an unprecedented opportunity to acquire real-time visibility of goods in transit and part of inventory. But this also comes with a set of challenges, not least of which is how to manage the resulting flow of information without becoming drowned in data.
A new report from the Retail Industry Leaders Association (RILA) and McKinsey & Co. highlights how sticky the digital shift has become over the past year, and how important personalization, supply chain optimization, omnichannel and sustainability have become to ensure survival in the new landscape.
Dick’s Sporting Goods, like Target and Walmart before it, is seeing strong results in the pandemic era, increasing overall sales 19.8% in the fourth quarter, while ecommerce was up 57% and same-store sales increased 19.3% as its omnichannel execution excelled.
The combination of digital twin technology and artificial intelligence and other forecasting tools has created an exciting space for retail to grow and change. From better product design to improved manufacturing and streamlined internal operations, digital twins and AI are proving to be a powerful pair in retail.
Michaels, the Dallas-based retail chain known for supplying do-it-yourself crafters for more than 45 years, is once again being acquired by a private equity firm after a seven-year run as a public company and an impressive valuation run in a very difficult year for the industry.
Today’s leading retailers are using gift cards – their own unique merchant-issued branded currency – to engage customers, drive sales and positively impact the bottom line. It’s clear that gift cards will merit increased attention as retailers grapple with the pandemic and try to move beyond it in 2021. Here are 3 reasons why.
Buoyed by the promise of new stimulus spending and the release of pent-up demand, retail posted impressive sales growth of 9.2% in January, excluding auto, gasoline, travel and lodging, according to the latest figures from MasterCard SpendingPulse. Not surprisingly, ecommerce continued to skyrocket, gaining 62% vs. January 2019.