Another holiday season is approaching, meaning another opportunity for retailers to increase sales, boost new customer acquisition and fatten their revenue totals for the year. Based on e-commerce spending trends so far this year, online and multichannel merchants are optimistic, always depending on the slippery road of economic recovery.
Wal-Mart announced that it's bringing back layaway for the holiday season as part of its ongoing efforts to recover from recent missteps and draw back customers still struggling to make ends meet. The company discontinued layaway in 2006, during the heady days before the recession.
Target opened a Missoni pop-up store in Manhattan on Sept. 8. Open for three days only for New York's Fashion Week, the pop-up store features a 25-foot tall doll in bright zigzag knits from Italian fashion house Missoni. Four puppeteers will operate the doll, called "Little Marina," moving her head and hands as she texts on her giant smartphone.
Electronic Arts has entered the retail arena, opening the EA Sports Experience store at the Charlotte Douglas International airport in Charlotte, N.C. It will open two additional U.S. airport locations by the end of 2011.
Much has changed since the National Retail Federation released its 2011 back-to-school shopping and spending predictions which could cause a dramatic gap between consumers' shopping intentions and actual spending behaviors.
The Men's Wearhouse reported that its second-quarter profit rose 33 percent to $57.1 million, from nearly $43 million a year ago. Revenue for the three months ended July 30 increased 22.1 percent to $655.5 million from $537 million.
Lowe's plans to outfit employees with 42,000 iPhone 4s next month, with custom apps that will make use of the device as a point-of-sale system as part of a technology-heavy retail overhaul. The retailer will introduce a new MyLowes online tool and implement the iPhones in an effort to catch rival Home Depot, which invested more than $60 million on handheld Motorola POS system last year.
The second biggest selling season of the year is here and families are rushing to their local malls and retail stores for the best deals for their back-to-school shopping. What makes this year different from last? For starters, brands began promotions earlier, yet consumers are procrastinating.
In a nod to National Disability Employment Awareness Month in October, Starbucks will feature refillable Braille cards. This campaign hopes to raise awareness for the Department of Labor’s annual employment campaign, and one that actually helps people who are visually impaired.
Brand loyalty is a shopper’s preference for a particular brand, be it a retailer or product, and a commitment to repeatedly purchase that brand in the face of other choices. Traditionally, retailers establish loyalty programs that offer rewards to repeat customers. This allows retailers to keep track of preferences and buying habits, but is this loyalty defined?
