Companies can quell risks relating to service disruption, data leaks, cyberfraud and vendor-related issues by taking a holistic approach to cybersecurity, according to McKinsey & Co. analysts. They explore the development of a cyberrisk dashboard that mitigates risk in real time.
Companies that have trade partners and locations in other countries are in a better position to cope with disruption from natural disasters, such as earthquakes, write Yasuyuki Todo and Yuzuka Kashiwagi of Waseda University and Petr Matous of the University of Sydney. "While international economic links may be feared to conduct and amplify global shocks, our study illustrates how international networks can protect firms during turbulent times," they write.
Neighborhood Goods is reimagining the department store with a mix of global and indie brands, pop-ups and in-store events, CEO Matt Alexander said in an episode of Retail Gets Real. "Anything from the frames on the wall to the furniture in the space to even the cutlery inside the restaurant and the cookware in the kitchen are all brand products that are purchasable," he said.
Registration for the NRF Foundation Student Program will officially close on Dec. 21. Students and educators should reserve their seats to see how a career in retail puts you on the front lines solving complex business problems for some of the most exciting and innovative brands in the world. Register here.
NRF will honor Levi Strauss & Co. President and CEO Chip Bergh as "The Visionary," an award given each year to an outstanding leader in the retail industry. The award will be presented during the fifth annual NRF Foundation Gala on Jan. 13 in New York City. Read more.
Developer Viva City says the three-story Sport Society sports mall will open near Deira City Centre in Dubai in 2020. The sports destination will feature retail on several levels along with food and beverage outlets, a multipurpose arena and a full-size hockey ice rink, among other fitness-themed areas.
Millennial consumers are likely to use brick-and-mortar retailers as a way to try out possible purchases in "product playgrounds." Research from Euclid shows 21% of millennials end up making a purchase online after seeing a product in-store, creating an opportunity for experiences that bring customers in.
Canada Goose has created five stores with dressing rooms where the temperature can be turned down as low as negative 25 degrees Celsius to let shoppers test luxury parkas. The rooms have become popular with selfie-takers, and they offer shoppers in warm climates a realistic sense of how the coats perform in the cold.
Sears won court approval to proceed with an auction of its top-performing stores as part of a plan to keep a smaller version of the retailer going under new ownership. The retailer expects to identify an initial bidder by Dec. 15, and an auction date has been set for Jan. 14.
J. Crew Group CEO James Brett has stepped down after a little more than a year, effective immediately, the retailer said. President and Chief Operating Officer Michael Nicholson and three other executives will lead the brand under an office of the CEO, as J. Crew works to revamp its permanent management structure.