Even before the pandemic, Abercrombie & Fitch has been on a mission for the past several years to close some of its flagship stores in expensive cities. But now, those plans have been accelerated in order to focus more on the company's growing e-commerce business. CEO Fran Horowitz announced during the teen apparel retailers' third quarter earnings that the company will be closing eight flagship stores by the end of January. Going forward, the company will focus more on serving the local customer, through services like curbside pickup.
Some Shipt workers are trying to get better worker protections, and are partnering with the nonprofit group Gig Workers Collective’. The two hope the collaboration will give the group of delivery people leverage during negotiations. Unlike other tech-based delivery services, labor organizing among Target-owned Shipt workers has its own challenges.
If the last nine months did nothing else for retailers and brands, it made them realize that there are some downsides to being precious and exclusive about where to sell products. A Modern Retail and Glossy survey, in which we queried employees at brands and retailers, found that more companies this year plan to try out a variety of new digital sales channels they never did before. Here's a look at our most recent holiday related data.
Based on its success overseas, experts have been predicting for years that live-stream shopping will blow up in the U.S. Until now, even though apps like NTWRK are niche successes, that hasn’t happened. But the entrance of tech giants into live-stream shopping might signal a real breakout moment -- and might prove to be a boon especially to small, niche businesses.
This year, retailers and brands are focusing on building out their digital fulfillment programs and are expecting record e-commerce sales, according to new research from Modern Retail and Glossy. As such, they are forecasting a digital windfall. What's more, the brands surveyed said they are implementing a bevy of services and offerings to better facilitate. Here are some takeaways from our most recent November survey.
This month, Target axed its subscribe and save program. Instead, the company said it's focusing its efforts on continuing to grow in-store and curbside pickup, as well as same-day delivery via Shipt, which itself offers a subscription for users. The move is another example of a big-box retailer trying out an e-commerce revenue strategy to compete with Amazon. But this one didn't stick.
The obvious reason why Walmart and Amazon are jockeying to expand their in-home delivery systems is to make ordering online a simpler proposition. Both companies see having in-home and in-garage delivery options as bolstering their overall value to consumers -- the less work the consumer has to put in, the more attractive shelling out money for Amazon Prime or Walmart+ seems. But more quietly, in-home delivery programs may also be opening a pathway for both companies to expand their presence in the smart home market.
With a second lockdown on its way, consumers are set to fully embrace crafting projects this year. These DIY hobbies range from sewing and knitting, to painting, with winners including art supply retailer Michaels and sewing machine manufacturer Brother seeing a spike in demand. Now they're hoping they can keep up the momentum.
Brands are changing things up this holiday season. In a November survey of 27 Glossy and Modern Retail readers who work for brands, 37% of respondents said their companies will be running promotions for eight weeks or more this holiday season, while just 18.5% said they ran promotions for eight weeks or more in 2019.
The restaurant industry has been hit very hard by the coronavirus, which has ravaged many businesses and their longstanding dine-in models. With the help of reservation management tools from startups like Tock and Resy, chefs and owners are hoping to survive the coming winter with the lack of outdoor dining. Here's how these platforms are trying to help restaurants prepare for the upcoming cold nights.
This year, Black Friday has been replaced by a season of savings. Retailers are now advertising multiple days of deals ahead of Black Friday, rather than just offering sales between Thanksgiving and Cyber Monday, as they've mostly done in years' past. Walmart is advertising "Black Friday Deals for Days," while Lowe's is calling its promotional event a Season of Savings. But in order to get customers to start shopping earlier, retailers also have to convince them that they won't get a better deal by waiting until the last minute.
For years, DoorDash has been duking it out with others like Grubhub and Uber Eats. Over the last year, however, its marketshare has grown significantly over the last year. The newly-released financials show the company is still losing a lot of money, and is dependent on an ever-fluctuating marketing mixed with a precarious and low-margin industry. Here's our look into the company's financial filing.
Over the years, Venmo has slowly attempted to eke out a space in the hospitality and retail space. But until now, the payment platform's technology hasn't been equipped to handle large merchant transactions. In the coming months, parent company PayPal will be rolling out backend products to support businesses in accepting Venmo as form of payment.
Under Armour is paring down its ambitions in the digital fitness space. Last week, the athletic apparel retailer announced it was doing away with two apps that it had previously acquired in 2015. The company is selling MyFitnessPal, and shutting down Endomondo by the end of the year. When Under Armour these two apps, alongside MapMyFitness several years ago, the company hoped that by owning a variety of digital fitness apps, it could get the tens of millions of people who used these apps to subsequently buy their workout gear from Under Armour. That hasn't panned out.
Most intriguing about Tupperware’s success is that it has amassed all those sales largely without the help of a traditional e-commerce store. The vast majority of its business still comes from its nationwide network of sellers, who have figured out how to bring direct-selling to Zoom, Instagram, TikTok, Facebook and even WhatsApp. Tupperware’s general e-commerce store, which it launched last year, brings in just 4% of its revenue.
The global pandemic has accelerated the appetite for retailers to experiment with new distribution channels, moving quickly to build their own direct-to-consumer models.
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