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This week, Reebok is iterating upon its loyalty program with a weeklong, members-only virtual event with first access to product drops. Tom Burrow, Reebok’s vp of digital brand commerce, chatted with Modern Retail about evolving the sneaker drop model towards loyal customers, incorporating consumer data into production decisions and the role of athlete influencers in their loyalty offerings.
Bloomingdale’s highly-curated small fashion store, Bloomie’s, is the company's mood board for millennials and Gen Z. Bloomie’s offers a revolving lineup of luxury products -- from apparel to beauty to accessories -- mixed with services including in-store and curbside pickup, a returns dropbox and access to Bloomingdale’s full inventory.
The retail sector has been completely upended over the past year and a half and at the Modern Retail Summit in Palm Springs, brand and retail executives came together about how they are trying to shift strategies in this new world.
On Tuesday, URBN’s Nuuly rental service added a resale service called Nuuly Thrift, making URBN one of the first major fashion companies to house retail, resale and rental businesses under one roof. Unlike other companies that have employed outside platforms to power their resale, Nuuly created the Thrift program in-house. The move is a big bet on the future of circular fashion and alternate consumption models, though it comes with heavy associated costs.
Late last week Target announced that it was partnering with two BNPL providers, Sezzle and Affirm, “right in time for the holiday season.” As retailers attempt to get consumers shopping early this season, analysts interviewed by Modern Retail think BNPL might help to speed up holiday purchases and draw in younger holiday shoppers.
Famed London department store Harrods is embracing luxury streetwear, announcing that it will now be the home of online reseller The Edit LDN’s first sneaker boutique. In Harrods case, the 172-year-old store is pitching sneaker drops as the latest in its repertoire of bespoke services, which span personal shopping to made-to-order curtains and bedlinens to real-estate.
After acquiring Rockstar in March 2020, PepsiCo announced plans to double Rockstar’s sales worldwide over the next three years. In an interview with Modern Retail, PepsiCo’s CMO and svp of the energy category, Fabiola Torres, discussed Rockstar’s rebrand, as well as the brand’s forays into gaming.
With at-home haircare becoming popular among consumers during the coronavirus pandemic, brands are looking for ways to reach these customers. One example is hair coloring brand Clairol, which recently tested digital campaigns to help drive sales at Target during a Clairol products sale.
On Wednesday, Home Depot announced that it would be the first retailer to join Walmart’s delivery as a service business, Walmart GoLocal. Home Depot's entry into same-day delivery is another way for the retailer to increase digital sales as well as sales from contractors. For Walmart, the partnership highlights the retailer's plan to become a multi-service provider.
Foot Locker-owned Eastbay is the latest retailer to debut an in-house brand. For decades, Eastbay's merchandise strategy has been focused on carrying third party brands. Now, the company wants to grab a bigger share of the student athlete market with the help of refreshed merchandise.
Kids Foot Locker has big plans to be the number one shoe retailer for kids. According to Jill Feldman, the vp and general manager of Kids Foot Locker, she aims to make it a billion dollar brand. "That's not quite doubling [where it is now]," she said on the Modern Retail Podcast, "but we have had really big momentum recently.
This week, Amazon rolled out two month-long sales events, signaling a move from the brief holiday blitzes of Prime Day and Cyber Monday, into an earlier and longer seasonal playbook. As supply chain issues threaten product stockouts, Amazon and other retailers are shifting their holiday sales strategies across more days, earlier, to get consumers shopping now.
The demand for seasonal and holiday decor is already weighing heavy on tree and decoration sellers. The expected consumer demand, along with a slew of supply chain disruptions, has brands like the National Tree Company planning rigorously this year.
Major retailers have all already launched their holiday top toys lists, pushing parents to buy the hottest toys now before holiday season stockouts arise. Companies from Target to Walmart to Macy's are pushing customers to buy toys early, but big hurdles still lie ahead.
The latest retailer to announce significant changes to its supply chain is Costco, which is leasing three of its own container ships for a one-year period in order to more quickly transport products across the Pacific Ocean. Costco isn't the only major retailer to take that step: in recent months, IKEA, The Home Depot, Walmart and Dollar Tree have all chartered their own containers ships.
The Nation Retail Federation predicts record Halloween sales of $10.14 billion this year with candy and costumes, in particular, growing 20% and 28%. Still, while in person shopping opens up alongside an in-person holiday, Halloween e-commerce continues to thrive in 2021. And retailers are preparing accordingly.
Read MoreAt the Modern Retail Summit, retail marketers will discuss everything from the Amazon effect to new infrastructure to the shift in the direct-to-consumer world.
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