As Katrina Lake steps down, Stitch Fix is preparing for its next phase of growth

On Tuesday, Katrina Lake, announced that she would be stepping down as CEO in August. Replacing her is Elizabeth Spaulding, who joined Stitch Fix as president last January after spending 20-plus years at Bain & Company. Lake's resignation comes as Stitch Fix has been investing in giving customers more ways to buy and select clothes, which hints at what Stitch Fix's next phase of growth under Spaulding might look like.

Top Stories Apr 16
amazon cut

Logistics, third-party sellers & Alexa: What to know from Amazon’s investor letter

In his investor letter, Jeff Bezos confirmed that Amazon Prime now has “more than 200 million subscribers” worldwide. But beyond that top-line figure, a few other numbers in the Bezos letter illustrate exactly where that growth is coming from -- and largely confirm existing speculation about the ascendancy of Amazon’s third-party sellers, its accelerating logistics footprint and the growth of its Alexa system.

How online florist UrbanStems leaned in on self gifting to grow sales

Flower delivery became a big winner during the pandemic. The category, which taps into the socially-distanced gifting trend, saw major growth, especially during celebrations and holidays. Now, DTC players like UrbanStems are looking for ways to retain their new cohort of customers with self-gifting and add-ons.

Amazon Briefing: Why Amazon is investing in physical grocery stores

In under a year, Amazon has laid the groundwork for a national, physical grocery chain. And that increased expansion comes right as Amazon shuttered one of its longest-running online food businesses, Amazon Pantry, in January. In general, the company appears to have acknowledged that, in order to gain a foothold in the grocery market, it needs physical locations to complement its e-commerce might.

Other news to know

  • Target is opening a handful of so-called “sortation centers in Minneapolis” as it’s testing out a new way of delivering online orders. Currently, Target fulfills most of its online orders from its stores, but is looking at adding more centers dedicated to fulfilling online orders in select cities to see if it can make the process more efficient.
  • Walmart said in a press release that it plans to shift more of its store worker roles to full-time, with the expectation that two-thirds of its hourly associates will be full-time by the end of January 2022.
  • Macy’s is planning to open 45 more shops under its discount Backstage banner, which would bring the total of Macy’s Backstage stores to 270 by the end of the year. Macy’s first launched the Backstage banner in 2015.
95%
Amount of Target's orders that were fulfilled by its stores during its fourth quarter

Podcasts

Latest Stories
As brands consider opening pop-ups, New York City loses its luster

As brands consider opening pop-ups, New York City loses its luster

E-commerce brands are getting ready to test the waters of physical retail again. The increase in vaccinations over the spring has coincided with an uptick in pop-ups from e-commerce companies like Misfits Market and Cuts Clothing. The interest in pop-ups is being spurred by a combination of factors, including the fact that rent is still low in many places right now. But not all e-commerce companies are fully ready to commit to retail again.

Taika CEO Michael Sharon on growing a coffee brand during the pandemic

Taika, which boasts a caffeinated canned drink that contains so-called adaptogens, launched in 2020 -- right when the pandemic hit. And it's used a text-based branding strategy to help it connect with customers. Co-founder and CEO Michael Sharon joined the Modern Retail Podcast this week and spoke about how the company has been able to grow over the last year.

'No longer on hold': Bridal brands are preparing for a wedding boom

'No longer on hold': Bridal brands are preparing for a wedding boom

After a year of postponed and canceled events, wedding-focused retailers are ready for a demand spike. The pandemic has led many shops to shutter or adapt by offering virtual consultations. However, industry experts note that unlike other categories, bridal dress shopping is still largely reliant on in-person appointments and made-to-order production. These factors are making the return of weddings vital for these businesses' survival.

Amazon's failed union vote isn't slowing retail worker collectives

While the Bessemer loss may be a blow, it isn’t slowing down the numerous worker advocacy groups that have cropped up in recent years, including the Target Workers United, Crew for a Trader Joe’s Union and Amazon’s own worker groups, Amazonians United -- and those groups say they will continue to fight on the ground, even if their companies don't officially recognize them.

'This is not pandemic boredom': Retailers are increasingly launching their own third-party marketplaces

'This is not pandemic boredom': Retailers are increasingly launching their own third-party marketplaces

Brands from Lands' End to Hudson's Bay are launching their own seller marketplaces. This suggests that the third-party model first perfected by Amazon is sweeping retail. As e-commerce competition intensifies, a growing number of retail brands are trying to stay competitive by adding more and more to their selection.

DTC Briefing: Founders are rethinking their Clubhouse usage

When Clubhouse first launched last April, founders flocked to the app as they were looking for more ways to meet fellow entrepreneurs while the world was still socially distancing. Months later, some of their initial excitement for their app has faded as they are trying to limit their usage to tuning into talks they feel like will actually, tangibly, help them in their business.

Why Grove Collaborative is launching at Target

After growing its private labels alongside selling eco-friendly home essentials by brands like Seventh Generation and Method, Grove Collaborative is venturing into retail. Later this month, the DTC marketplace will launch its cleaning products at nationwide Target locations and on Target's website.

Modern Retail Summit LIVE
Apr 21–Apr 23, 2021

At the Modern Retail Summit LIVE, retail executives will come together virtually to discuss effective strategies for driving sales by building a loyal customer base both online and offline.

Buy Passes