All signs point to a muted retail peak outlook for 2023, with many shippers booking later sailings than in the past as they continue to burn through inventory, figure out demand signals and determine what new products to introduce for end-of-year holidays, Seko Logistics executives said on a media day call. The company’s CEO still sees “green shoots” of optimism with ordering picking up.
Walmart saw 25% growth in Q1 ecommerce, as the beast of Bentonville outpaced expectations on the top and bottom line and raised its full-year guidance, three months after warning that the 2023 outlook was not a particularly good one based on consumer sentiment and macroeconomic signals. The company also addressed theft concerns while reporting strength in advertising and fulfillment services.
The ongoing economic uncertainty is creating several challenges for retailers, making consumers more frugal. To remain resilient through economic challenges and maximize sales, retailers must stay prepared to weather any anticipated slumps. This requires the ability to analyze trends and shoppers’ habits on a frequent basis, staying up to date while more accurately planning for the future.
Retail sales inched up 0.4% in April from the prior month, exactly matching a rise in the Consumer Price Index, according to figures from the U.S. Commerce Department. It represented the first gain in retail sales since January, a positive sign amid economic fears and continued inflation. Excluding gas and auto, retail sales were up 4.3% in April vs. a year ago, adjusted for inflation.
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.
A clear, comprehensive ecommerce returns policy is a great preventive measure. It helps customers understand how and when they can return products, acting as insurance for them and your business. However, there are other less obvious but nevertheless influential tactics you can and should employ. Here are seven more ways you can reduce returns, protect profits and improve customer satisfaction.
A new global study by IBM found that 61% of CPGs and retailers are purposefully aligning sustainability and operational goals: 77% said sustainability investments will accelerate business growth. Luq Niazi, a global managing partner at IBM Consulting, talks about how companies are allocating resources for sustainability, and how to communicate your efforts to consumers without greenwashing.
The curious case of Walmart’s venture into creating a stable of hot startup DTC brands has come to a close, with the 2023 sales of Moosejaw, Bonobos and Eloquii in quick succession. So it’s a fitting time to take a look at the six-year-plus journey that began with the $3.3 billion acquisition of Jet.com. We look back and ruminate with Raj Konanahalli, a partner and managing director with AlixPartners.
Children’s apparel retailer Carter’s plans to open 50 new stores this year, and at least 1,000 by 2027, seeing an opportunity as its SKU rationalization, price realization between selling periods and inventory management have improved the unit economics for retail, while the online-store mix shifts a bit toward brick and mortar. Executives said consumer confidence is down but not as bad as in 2022.
American Circular Textiles Group (ACT) is a coalition seeking to establish U.S. leadership and policy in textile waste and circularity, with a focus on the waste hierarchy. Founding members include Rent the Runway, The Real Real, thredUP and Fashionphile. ACT director and founder talks about the momentum behind circularity in apparel, and how ACT is working to influence legislators and industry leaders.