Advance Auto Parts is closing more than 700 locations to shore up the company’s finances following another dismal earnings report, reports CNN Business. The car parts retailer, which has about 5,000 stores, said Thursday that the closures are part of its “strategic plan to improve business performance.” The reduction will result in closing roughly 500…
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Artificial intelligence (AI) is seemingly disrupting everything in today’s world, including retail businesses. At Total Retail Tech earlier this fall, retail martech leaders shared their experiences using AI, from implementation to execution to measurement. Nandini Sankara, vice president of marketing and brand strategy and spokesperson for Suburban Propane, spoke with Ron Offir, managing director of…
Target on Wednesday missed Wall Street’s quarterly earnings and revenue expectations and posted only a slight uptick in customer traffic, despite the discounter's price cuts on thousands of items and its early holiday sale. The big-box retailer reversed course and cut its full-year profit guidance, just three months after hiking that forecast. Target now expects fourth-quarter…
Artificial intelligence is already transforming retail, with almost seven of 10 (69 percent) retailers posting increased revenue after adopting AI, a recent Nvidia study shows. That sets the stage for AI to have an even bigger presence this year as the holiday shopping season approaches. Above all, images are often cited as a critical factor when…
With the 2024 holiday season underway, inflation and the rising cost of living continue to impact consumer spending habits, even as optimism remains high. The latest industry data sheds light on three emerging trends all retailers should keep in mind this season: shoppers’ cautious spending plans, their focus on discounts, and the increasing shift toward…
E-commerce is predicted to be the primary driver of holiday retail sales this year, with the National Retail Federation (NRF) forecasting that shoppers will spend between $979.5 billion and $989 billion in November and December of 2024. As the holiday shopping season kicks off, retailers face increasing competition, pushing them to leverage every advantage to…