How neighborhood Facebook groups became havens for ultra-local businesses

Over months of lockdown, many Facebook users have turned to the social media platform to communicate with the people in the next street, or even the next house. For ultra-small local businesses, usually run by a single individual or a few partners, these same groups have become a haven to communicate with customers, advertise their services and even run the business. For the customers themselves, often unable to travel to neighborhoods further afield, they’re a useful tool to connect with recommendations in their immediate area or support local businesses they know to be struggling.

Top Stories Aug 03

Modern Retail Talk: Forrester’s Sucharita Kodali on why retailers should be experimenting

On the latest episode of our Modern Retail Talk series, we spoke with Forrester's Sucharita Kodali about what she's observing in this brand new climate. The pandemic, she said, "set the retail industry back about five years." The good news, however, is that "there should be a fairly decent rebound."

‘No brainer’: Marie Claire launches sampling business to boost revenue and data practice

Women’s lifestyle title Marie Claire is getting into the sampling business with the launch of Beauty Drawer. The first 5,000 members to sign up will receive samples of anti-aging cream from the launch partner, beauty brand StriVectin. With retail on lockdown "Working in skincare, samples are the number-one way to get people into a product."

Amid Congressional scrutiny, Amazon posts 40% growth in third quarter

Amazon saw huge profits in its most recent earnings report. This comes even after the company say three months earlier it would likely spend all of its current profits on coronavirus-related costs. Even so, the company saw record sales and continues to skyrocket. But tensions with third-party sellers still remain a pressure point.

Other news to know

  • At its second quarter earnings report, Under Armour saw revenue fall 41% year-over-year to $707.6 million, which is still more than analyst expectations. The company did warn that revenue may fall by as much as 25% in the second half of this year.
  • Point-of-sale lender Affirm is reportedly laying the groundwork to go public, according to the Wall Street Journal. The company has been making moves to increase its dominance — most recently via a partnerships with Shopify.
  • After filing for bankruptcy, the new owners of Pier 1 Imports, Retail Ecommerce Ventures, have said they plan to open an online store. “Customers can expect the same signature home goods and accessories, and at the end of August, a new website, e-commerce experience,” said co-owner and social media influencer Tai Lopez
$182.9 million
Under Armour's Q2 net loss

video

Modern Retail Talk: Forrester’s Sucharita Kodali on why retailers should be experimenting

On the latest episode of our Modern Retail Talk series, we spoke with Forrester's Sucharita Kodali about what she's observing in this brand...

Latest Stories
Why Blue Apron's profitability likely won't last beyond the pandemic

Why Blue Apron's profitability likely won't last beyond the pandemic

Blue Apron recorded its first profitable quarter since going public three years ago. However, the meal kit service's luck is likely to end here, as mounting struggle to retain customers and the costs of attracting new ones continue. For its third quarter outlook, the company plans to ramp up marketing dollars again, in hopes of attracting new customers, and that likely will come at the cost of current profits.

The natural wine industry is facing its own reckoning

A natural wine importer had vowed to draft an ethical contract to which all business partners will sign. Companies have long claimed to be ethical, but are now being asked more fervently to practice what they preach. A looming question underneath it all is how much of this talk about transparency and ethical business practices is used to shield from future scandals or as marketing jargon.

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Why some DTC brands are opting for a pre-sale strategy

Why some DTC brands are opting for a pre-sale strategy

In a way, pre-sales and waitlists are counterculture to today’s “fast delivery” windows, but they can also be a vital tool in building a customer base during uncertain times. For new brands like direct-to-consumer A/C maker July, pre-orders gave them two benefits: the opportunity to make connections and manage the uncertainties, said co-founder

'We're humans, we're aspirational by nature': Reel CEO Daniela Corrente on what consumers are saving money for

Piggy banks aren't especially in vogue, but the idea behind them sticks. By saving up a little over the long haul, you can pool quite a bit of money — enough, in Reel's experience, to pay for a luxury handbag, furniture or some electronics. The personal finance app lets customers save up for specific items. CEO and co-founder Daniela Corrente joined this week's episode of the Modern Retail Podcast.

How German superstar Aldi is trying to disrupt American grocery

How German superstar Aldi is trying to disrupt American grocery

Aldi is trying to strike gold in the United States. With customers more prepared to differentiate on price by a looming recession, it’s now perfectly positioned for widespread expansion. For its competitors, meanwhile, Aldi’s ascendance could mean a race to the bottom when it comes to prices -- as well as more private label products crowding out named brand stalwarts.

'Too many negatives at the moment': Hudson Yards has few good options to fill Neiman Marcus' now-vacant storefront

Less than two years into the opening of Hudson Yards, one of the most expensive real estate projects in the country, the development's shopping center is losing its anchor tenant. Last week, Neiman Marcus, which filed for bankruptcy in May, announced that it would be closing its Hudson Yards store, among other locations. As Hudson Yards considers a new type of tenant to take over the space, which spans three floors, each type of tenant comes with its own set of drawbacks.

Why Simon Property and Authentic Brands Group's are bidding on Brooks Brothers

Last week, Simon Property Group and Authentic Brands Group submitted a $305 million for 200-year-old bankrupt apparel retailer Brooks Brothers, through a joint LLC the two had set up called Sparc. The deal is still subject to court approval, as well as if higher bids come in. But no matter how the deal pans out, it gives some important insight into what mall owners like Simon are looking for in acquisition targets, as an unprecedented number of struggling retailers are likely to be up for sale this year.

Modern Retail Virtual Forum
Aug 10–Aug 11, 2020

At the Modern Retail Virtual Forum, we’ll bring together senior retail marketers online to discuss the challenges they’re facing and the solutions they’re seeking in the era of smarter retail.

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