Merchandising
A single view of the customer, sales and inventory are foundational enablers for a retailer's omnichannel merchandising strategy. The need is to merchandise the right "me" products to the right sales channels "now" at the right price. Processes across the enterprise, from planning through supply chain, will need to be integrated and data will need to be consolidated and available to derive actionable insights.
Terry J. Lundgren, the chief executive of Macy's, strode through the women's shoe department of the company's flagship store in Manhattan's Herald Square, determined to find a bargain. With the lean build of an athlete and the immaculately coifed gray hair of a television anchor, Mr. Lundgren cased the floor and dashed over to a display table of classic shoes, aimed at women in office jobs. "Look at this great-looking boot for $69!" he exclaimed, holding out an unadorned black boot with a low heel.
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Just say no. That's a Florida mother's response to a new line of "Breaking Bad" action figures selling at Toys"R"Us. She's gathered more than 7,500 signatures for a petition to remove the toys, which come with gun and drug accessories. The product line, made by Mezco Toyz LLC, features characters from the popular show, a drama about a chemistry teacher who turns into a drug kingpin that aired on AMC until last year. It includes a $30 figure of Walter White, the main character, holding a gun and a bag of cash and crystal meth.
J.Crew CEO Mickey Drexler thought about jumping into the athletic trend in apparel but decided to sit it out, citing a lack of expertise in the category. Drexler said the company considered making sports and yoga clothing, similar to gear made popular by Under Armour and lululemon athletica. The clothing, which is increasingly being worn by Americans more on the street than in the gym, is propelling sales for some retailers with others rushing to add workout clothing to their stores.
Apple Inc. CEO Tim Cook last weekend called the introduction of the iPhone 6 and 6 Plus the "best launch ever." He may have spoken too soon. Just three days after announcing that Apple had sold a record 10 million new iPhones over the opening weekend, Cook was faced with multiple snafus related to the bigger-screen handsets. The company pulled a new mobile software update, dubbed iOS 8.0.1, after the program caused some people to lose cellular service yesterday, and promised a fix soon.
Nike announced Wednesday that it would be suspending its contract with Minnesota Vikings running back Adrian Peterson in light of his recent child abuse charges. "Nike in no way condones child abuse or domestic violence of any kind and has shared our concerns with the NFL," a press representative for the company said. Also, Target confirmed that stores were pulling Peterson merchandise from shelves on Wednesday, as well as on the retailer's website. A spokesperson said the decision was made taking into account the feedback it had been hearing from guests.
Our marketing experts will discuss key online and offline merchandising best practices and strategies.
In case you haven't seen or heard the news yet, Urban Outfitters is embroiled in yet another controversy. The apparel retailer decided it was a good idea to sell a red-stained, seemingly blood-splattered "Vintage Kent State Sweatshirt" on its website. The university in Kent, Ohio was the site of a deadly confrontation between students protesting the Vietnam War and the Ohio National Guard. Four students were killed and nine others were wounded on a fateful day in May 1970. Yet Urban Outfitters thought it was wise to make light — and a few bucks, the sweatshirt sold for a mere $129 — of the situation.
Early in the wee hours of the morning, Urban Outfitters found itself caught in yet another clothing controversy in the form of a "vintage" Kent State sweatshirt. The shirt appears to be splattered with what many Twitter users presumed to be blood, referencing the 1970 shooting at the Ohio university. Four students were killed and nine others were injured when an Army National Guard Unit shot at students protesting the Vietnam War.