More than 80% of Steve Madden's revenue still comes from wholesale. But that doesn't mean that the footwear retailer can totally ignore its e-commerce business. "If someone discovers your brand at Nordstrom, the odds are very good that they will [eventually] come to your site," said. Jeff Silverman, president of global e-commerce for Steve Madden.
As J. Crew's denim-focused brand Madewell prepares to go public, it will be depending upon its loyalty program to fuel customer retention and personalization efforts, which the company thinks is key to driving more direct-to-consumer sales.
As Walmart continues to try to innovate and stay ahead of the competition, it says adult beverages is part of the equation. Alcohol, however, is a hard industry for large traditional retailers to scale. But as other retailers and platform begin to experiment in the space, it's clear alcohol is going to become a huge competitive battleground.
Target's Cartwheel rewards program has for the past several years been pointed to as one of the most successful loyalty programs from a big-box retailer. Yet, late last year, Target announced that it was testing a new loyalty program called Target Circle, that would replace Cartwheel. The new loyalty program is meant to bridge the gap between Cartwheel, a digital couponing app that was free, but still geared towards diehard Target shoppers, and Red Card, Target's private label credit card.
In April, Lululemon set a five-year-strategic plan with an aggressive goal for its international business: to quadruple sales generated outside of North America by 2023. In order to do so, Lululemon is opening stores in Europe and Asia at an aggressive pace -- of the 45 to 50 stores Lululemon is projecting it will open this year, about 30 of those will be outside of North America. But it also sees hosting localized events and developing customized e-commerce sites for each country it wants to gain market share as critical to its goals.
Brick-and-mortar remains an important sales channel for any mall-based retailer, but especially those whose most frequent customers are teenagers. According to a study last year from the International Council of Shopping Centers, 95% of Gen Z shoppers visited a mall between February and April 2018, compared to 75% of millennial and 58% of Gen X shoppers.
While Amazon continues to rule retail, traditional companies like Target and Walmart are strategizing to fight. Here are some of the ways the companies use private labels and their own stores to stay relevant and competitive.
This past year, Dollar General has excelled, even ahead of the pack in other dollar store categories, thanks to a series of programs aimed at trimming margins and enticing customers. These include opening a number of new stores, investing in private-label brands as well as building out in-house logistics programs. Put together, Dollar General is creating a multi-pronged dollar store expansion strategy.
Fashion subscription service Le Tote announced it was buying Lord & Taylor for $100 million. At first glance, it's an example of a digitally native company trying to enter the big leagues. But it remains to be seen if the bet will pay off.
Target just announced that its opened around 100 small format stores. These curated shops -- generally in metropolitan locations -- have helped the big box retailer expand and provide more localized offerings. But past retailers have made the same scaled-back attempt and failed.
Over the past several weeks, a steady drip of traditional brick-and-mortar retailers have announced plans to launch their own rental and resale service. They see these services as a way to reach a younger, more socially-conscious consumer, and they're inspired by the success of fast-growing startups like Rent the Runway and the RealReal. But many of the startups these traditional retailers are seeking to emulate remain unprofitable, and are struggling to maintain high levels of customer service as they continue to scale.
At 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.Book Passes