MGM Resorts International is best known for its casinos and hotels (most of which are in Las Vegas, including The Bellagio, MGM Grand, Mandalay Bay, The Mirage, among others), but within those properties the company operates retail stores. In episode 38 of Total Retail Talks, Steve Schnur, director of merchandise planning and analytics for MGM…
Pricing
From price-matching local and online competitor prices to its own “Savings Catcher” program, Wal-Mart offers customers a variety of ways to save a few buck on their bill. But shoppers at some stores will soon have one fewer option for saving money, as the big box retailer is ditching in-store price matching at 500 locations,…
The Limited has launched a brand that could find a niche in a rapidly growing retail sector. Six "Backroom at The Limited" locations quietly opened this year, featuring apparel designed specifically for the new stores but priced lower, said William Acevedo, senior vice president for retail and outlet stores at the New Albany, Ohio-based retailer.
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Shopping online is becoming the new norm for consumers. Consider that U.S. e-commerce sales grew 14.6 percent in 2015 year-over-year, according to data from the U.S. Commerce Department. The fast-growing popularity of e-commerce brings new challenges to retailers, however. In a Market Track 360 Strategy whitepaper, four of these top challenges were identified and analyzed.…
Everyone loves a comeback story, but they're notoriously rare in the apparel, luxury and fashion worlds. Of course, just because it’s difficult doesn’t mean it can’t be done — just look at Coach and Ray-Ban, two of the most exciting comeback stories in luxury retail. As an investor, it’s worth understanding the why and how…
Kohl's Corp.'s new Off/Aisle store has a polished concrete floor, sleek lighting fixtures and a way of pricing merchandise that's very different from the Menomonee Falls, Wis.-based retailer's traditional department stores. No coupons or special discounts here. At Off/Aisle, everything has a "spot" price. Items with an orange circle on the tag are $4; items with…
By now the retail tango is becoming more familiar and haunting: burgeoning technology; greater transparency; changing competitive arenas; increased competition; multiconnected consumers; among other things. Most important, it seems, is the consumer — i.e., giving the consumer what they want, when they want it, how they want it, and where they want it. To do…
For a while now, retailers have been betting big on bits and bytes as they invest in retail technology. Overall, retailer IT spend was estimated at $60 billion in 2013. Although e-commerce platform spending gets much of the press, it’s only a small portion, $1.2 billion, of the overall retail tech budget. So where's the…
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