A number of companies are fighting Apple over a tax it takes for apps that charge for digital events. It's a long brewing battle, and Apple recently gave a few a reprieve. But the issue doesn't target just a few big companies, but also smaller ones that are trying to diversify their offerings into digital services.
Topicals, which makes products for common skin-care ailments, has been using Twitter as a way to engage with customers. Compared to Instagram, Twitter is a great way to have conversations with people. The brand has used it for education, as well as empowerment. And this strategy has led to increased sales.
Rent The Runway just announced plans to end its Unlimited rental option. This was a core part of its offering and hints at pain felt throughout the workwear and formalwear space. Fewer people are going to work and attending large events. As a result, demand -- both for department stores and platforms like Rent The Runway -- is cratering. In the middle of a pandemic with an unknown timeline ahead, the future of many of these companies looks ominous.
Amazon’s long-rumored luxury platform, now known as Luxury Stores, finally launched on Tuesday after months of speculation. Amazon’s main appeal to brands is its scale, but out of the gate, the platform doesn’t make much use of its 112 million Prime members. Luxury Stores is launching with only one brand, Oscar de la Renta, and is invite-only, with the first round of invites going out yesterday. The small scale, single brand, small selection and invite-only model mean that Luxury Stores' potential to drive sales is limited.
Second quarter earnings season is almost to a close, and there are already lessons to be learned about what retailers must do to survive. Some companies are thriving in the age of coronavirus, while others continue to falter. The recent round of results may not be terribly surprising, but they do highlight the digital acceleration felt by every company around the world.
The retail industry is in flux, and the coronavirus has only complicated and accelerated an interlocking web of transformations set in motion over the past decade.
At most grocery stores, free samples are out the window. But one vegan frozen food company, Strong Roots, has been trying out a new program with a ghost food truck. Through this, Strong Roots can target regions where it's food is available in stores and then try and get customers to taste it via food delivery apps.
Earlier this week, the social video app announced a partnership with the commerce platform Teespring. While the details haven't been finalized, the two companies will be working together to create an integration that allows TikTok creators to sell their merchandise on the app. It's a small but important step for TikTok, as it tries to find ways to prove to brands that it's more than just a platform where teens share irreverent videos.
Interlace Ventures managing partner Joseph Sartre spoke on the most recent episode of our Modern Retail Talk series about what headless commerce is and why he thinks it's going to be the future for online merchants -- especially now. Modern Retail Talk is our video series where we discuss the latest retail news, as well as dive into issues experts in the space are facing.
Nike is cutting ties with some mid-sized wholesale partners. While the move isn't shocking, it brings to light the brand's overall intention to focus on DTC channels. With department stores on the decline, brands like Nike want to focus on getting customers to its own properties. The question remains whether other brands will follow suit.
As beauty deal hunting and deal activity has picked up in the world of Covid-19, it's also extended to an unlikely group of investors -- those previously centered on the food and beverage categories with little beauty-specific segment experience. "We identified the better-for-you food and beverage space as an emerging sector back in 2014 and now see huge potential in clean beauty and wellness brands," said Jordan Gaspar, managing partner and president of AF Ventures.
The business landscape was upended overnight when a virus wreaked havoc on the world. Now, digitally native brands are trying to figure out how to operate in this new landscape. In this report, Modern Retail details all the shifts that occurred over the last year.
Home gym supply brands have seen record demand since the coronavirus first swept the world. Now, even though a few months have passed, the situation has only intensified. Many products remain sold out and companies in high demand are still dealing with supply chain woes to try and get their fitness items into customers' hands.
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."
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."
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