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Consumer desire for convenience, speed and the resultant increase in online shopping has dramatically altered the retail landscape. With greatly diminished foot traffic in stores and retail spending now strapped by inflationary pressure on consumer pocketbooks, we've seen record numbers of retail bankruptcies, restructurings, and associated store closures in 2023. When a retail operator goes…

The retail landscape is in a difficult place at the moment. Between economic stressors like high inflation rates, talent shortages and industry changes such as rapidly evolving customer expectations and surging demands, many retailers are scrambling to find a foothold in these uncertain times. They need to make every resource count. Merchandising teams are critical…

In 2023, a prevailing theme that has ensnared retailers is the phenomenon of consumer behavior. Both sentiment and spending have been unstable, leading business leaders through a whirlwind of changing strategies based on predictions that never quite came to fruition. Economists collectively anticipated that an impending economic downturn would dissuade consumers from depleting their savings.…

Engagement ring spending in the United States rose 9.2 percent in 2022 year-over-year, according to the latest data from The Wedding Report, and another 2 million-plus weddings are likely for 2023. As a result, there are going to be lots of young couples walking into jewelry stores with that gleam in their eyes, ready to…

Consumers' shopping expectations have skyrocketed. They effortlessly navigate through online channels, apps and websites to find the right product. They demand fast shipping, easy returns, sustainability and more, showing little loyalty and appreciation. According to McKinsey, these are today’s 'Zero Consumers.' In today's fast-paced world of online commerce, where every click and scroll counts, retailers…

Today’s fashion merchandisers probably grew up watching Rachel Green climb the ranks of Bloomingdales and Ralph Lauren in the culture-defining show, "Friends." In the last few years, the character’s iconic pleated trousers and crop tops have made an undeniable comeback, which got us thinking — what would Rachel’s job look like if the show were on…

Studies show that 90 percent of the information processed by the human brain is visual. What's more, the brain processes visual images 60,000 times faster than written messages. As the data shows, the human brain is drawn to pictures. With that in mind, it's no wonder that content creators who feature visual content increase traffic…

In today’s modern retail ecosystem, where retailers are deploying technology to deliver effective omnichannel offerings and curate high-quality customer experiences (CX), one challenge that still concerns many retailers is the returns dilemma. In 2022, returned retail merchandise amounted to almost $817 billion in the U.S., a 7 percent increase from $761 billion in 2021. Of…

Amazon.com did it again. Prime Day, which took place for 48 hours on July 11 and 12, generated record sales and a 6 percent year-over-year increase, wooing customers with steep discounts. With inflation hitting customers this year, a lot of retailers are looking to Prime Day to help guide their own discounting approach for the holiday…

Consumer shopping behavior is changing. Because of an uncertain economic environment and record-high prices, today’s consumers are changing where they shop, when they shop, and how they shop to save money. They're more reliant on existing tactics like loyalty programs and expanding the set of technological tools they use such as digital coupons, cashback rewards…

Lowe's and Petco have announced the expansion of their pilot program that brings products, services and expertise — for both home and pets — into a one-stop shop, growing from 15 Lowe's stores to nearly 300 locations by year-end. Focusing on rural communities across the country, this expansion offers a new convenience to shoppers, providing access to…

It’s estimated that 30 percent of apparel and shoes purchased online are returned. And per the National Retail Federation, the projected cumulative cost of returns last year was $761 billion (this equates to 17 percent of all purchases, an 11 percent increase from our previous year's research). Returns are an expensive proposition for retailers. As…

Today’s shopper behavior is changing faster than ever before. Typically, shopper behavior changes are slow and steady – like making course corrections on a big ship. However, with the highest inflation in 40 years, we are seeing material changes in shopping habits on a much shorter timeline. The Why Behind Price Increases The average shopping…

Americans returned approximately $816 billion in products last year. For retailers, processing those returns is a costly endeavor. To navigate this dynamic and complex supply chain environment, the right returns management software solution is a critical factor for success. According to new data from goTRG, 34 percent of retailers say that they believe their business…

A retailer’s ability to create a seamless and relevant experience for their customers ultimately can be the difference between gaining loyalty or falling behind competitors. Today’s customers are looking for faster connections to the items they’re looking for and want personalization at every step along the way. This is why the pressure to nail online…

In a surprising reversal of its direct-to-consumer (DTC) focus, Nike will re-enter into a partnership to sell footwear at DSW stores. The footwear retailer’s parent company, Designer Brands Inc., announced the news last week in a call with analysts discussing first quarter earnings results. The deal will bring a variety of men’s, women’s and kids athletic footwear products to DSW and…

It’s a fact of life: When you’re selling online, the platforms that send traffic your way can make or break your business. Therefore, you should always keep an eye out for any changes that can impact user behavior. In recent months, two of the biggest platforms around — Google and Microsoft — have integrated coupons,…

Picture this: You ordered a shirt that you really liked from your favorite retailer. Then, when it finally arrives, it doesn’t fit correctly, and you must now navigate the returns process. This may include jumping through hoops to meet the retailer’s return policy requirements: Do you have to return in-store? Is returning the shirt free…

Saks, the premier digital platform for luxury fashion, recently announced that it has extended its partnership with Lightspeed Commerce, a one-stop commerce platform for merchants to simplify, scale and create exceptional customer experiences. The platform has helped Saks streamline previously manual processes, slashing time spent on order creation by 50 percent and reducing time spent on purchase…

Consumers are posing an ultimatum to fashion and apparel brands: Start taking sustainability seriously or they’ll shop elsewhere. A new study of UK consumers found that 81 percent intend to boycott apparel brands that don’t prioritize sustainability within the next two years. These consumers are part of a clear global trend: Growing swaths of consumers…