Discounting is a tempting tactic for small retailers eager to drive store traffic. Some 42 percent of consumers say price is the greatest influence when shopping, according to the National Retail Federation's latest holiday survey.
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The battle for holiday shopping dollars is shifting to the palms of consumers' hands. This year, there has been a surge in two kinds of shopping apps: price-comparison services and loyalty programs.
Belk, a 305-unit department store chain, has embarked on a three-year, $150 million IT transformation designed to enhance the retailer's business capabilities and performance.
New York-based J. Crew Group Inc. has agreed to be acquired by TPG Capital and Leonard Green & Partners for $43.50 a share—a transaction valued at about $3 billion—giving the buyout firms the New York-based retailer’s namesake and Madewell brands, according to Bloomberg.com. TPG, a former owner of the retailer, and Leonard Green will work with Millard "Mickey" Drexler, J. Crew's CEO, according to a statement. Drexler may be looking to go private as J. Crew adapts to changing consumers’ tastes and deals with inventory that isn’t selling well, said Nathan Brown, an analyst at Waddell & Reed Financial
Price Check by Amazon lets users simply speak the name of any product when they are shopping to receive instant prices for that item on Amazon.com. Customers can also use the app to scan a barcode, snap a picture or type a product name to return product matches and pricing from Amazon.com and its other online merchants.
Footwear discount retailer DSW Inc.'s fiscal third-quarter earnings rose by one-third on higher sales. The company again raised its current-year forecast, now projecting earnings of $2.30 to $2.40 a share on same-store sales growth of about 12 percent.
It's been widely reported that T.J.Maxx and Marshalls are planning to sell electronic tablet computers as part of a Black Friday special. While a few stores did carry the item last week, the reports of Black Friday specials are false.
QVC has seen a 10-year increase in new customers and revenue, and QVC.com is credited with expanding the customer base. While loyal TV viewers may not turn to the website, "The online business is becoming such a crucial part of the business for QVC," said an analyst.
Cyber Monday plans are more robust this year, with companies planning one-day sales, offering specific deals and free shipping on all purchases. In addition, the majority of retailers will send promotions and deals to shoppers through a special Cyber Monday email.
Daily-deal site Groupon is considering a bid to be acquired by search engine giant Google, according to this article. The fast-growing bargain site could be valued at about $3 billion. It could be Google's largest acquisition since it paid $3.2 billion for DoubleClick in 2008.