Fast. Easy. Secure. Those are the words consumers use to describe their ideal checkout experience. But in reality, how often do those expectations ring true? Truthfully, not as often as retailers may think. Despite merchants’ best efforts to provide a smooth and seamless checkout, customers have reported that the in-store experience still isn’t always up…
If you tell your fleet of 100 stores to do something, less than a quarter of them will do it correctly, and on time. This isn’t a hunch: it’s a research-backed fact. Store execution has been retail’s Achillies heel for decades. So when Mark Cuban enlisted a third-party team of secret shoppers to assess how…
Microsoft said on Friday it will permanently close all of its 83 store locations and will instead focus on its e-commerce business, where customers can visit for support, sales, training and more. The decision comes after Microsoft temporarily closed stores in March due to the spread of the coronavirus. Microsoft said the thousands of workers from these stores have…
The 85-year-old vitamin and dietary supplement company GNC has announced it's filing for bankruptcy and closing up to a quarter of its stores, CNN reported. The retailer has nearly $1 billion in debt, and is looking for a buyer. GNC has faced declining sales at its brick-and-mortar locations since before the coronavirus pandemic. However, CNN…
Mall operator Brookfield Property Partners is suing Gap Inc. for refusing to open stores at the company’s properties in Texas and for owing more than $2 million in unpaid rent over three months, Bloomberg reported last week. “For three months running, Gap has failed to pay rent at virtually every Brookfield location nationwide, even for stores that Gap…
Dick’s Sporting Goods is expanding two new low-priced concepts. The sporting goods retailer first opened three clearance centers last year in Michigan, South Carolina and Wisconsin. But the 11 new stores — some called Overtime by Dick’s Sporting Goods, and others Dick’ Sporting Goods Warehouse — expand Dick's Sporting Goods off-price presence to nine states. Those include…
Target is raising its minimum wage to $15 an hour beginning July 5, CNBC reported. The retailer will also be giving hourly employees a one-time bonus of $200. Target temporarily raised its wages by $2 an hour in March as the COVID-19 pandemic began, so this announcement makes the raise permanent. This raise will be for hourly…
Despite the unprecedented challenges retailers are facing as a result of the COVID-19 pandemic, their resilience and determination is both impressive and encouraging. As various parts of the country proceed through a phased reopening, retailers are challenged with opening their stores in a safe and efficient manner. As pressured as they may be to reopen…
Shopping has changed as we know it. Consumers no longer stroll into stores and take their time interacting with products and people. Now, masks are mandatory almost everywhere and people try their best to stay six feet away from one another while making their way down narrow aisles. And while people are spending more money…
The COVID-19 crisis is proving to be a catalyst for change across all dimensions of retail. Some of this transformation was already underway for some specialty brands. They were on a path to building a more direct-to-consumer (D-to-C) business. However, what the pandemic ultimately underscores for them and others is that retail can’t go back…
