Investor bids $20M for Pier 1's brand, e-commerce arm | Walmart's self-checkout trial features roaming associates | Costco cuts sheet cakes to promote social distancing
Retail Ecommerce Ventures has bid more than $20 million to buy Pier 1 Imports' e-commerce business and intellectual property. The firm, which owns Dress Barn's intellectual property, will be the lead bidder in a bankruptcy court auction for the home goods retailer's assets that's scheduled for Wednesday.
Stop overpaying for address autocomplete Retailers like Michaels and DICK'S Sporting Goods are switching to Radar for address autocomplete and address validation, saving up to 90%. Radar's address autocomplete APIs are part of Radar Maps Platform, the cost-effective, all-in-one alternative to Google Maps and Mapbox.
Walmart has started an experiment that replaces traditional checkout lanes with self-service stations, monitored by roving associates tasked with helping customers scan and pay for purchases. The retailer has opened 34 kiosks at one of its Arkansas super centers to see if the arrangement is more efficient and cost-effective, and associates are playing the roles of "hosts," working to make the self-checkout process more personal and engaging.
Costco has stopped selling its popular $19 half sheet cake for the foreseeable future, citing the pandemic and the need to trim some departments to allow for proper distancing. Rivals including Sam's Club, Target, Walmart and Whole Foods Market are still selling their versions of the cakes designed for parties and made to feed as many as 50 people.
Demand for online workout classes has soared during the pandemic, which shuttered gyms around the world, and the trend is likely to continue as consumers see at-home workouts as a more affordable and convenient alternative, RBC Capital Markets analyst Kate Fitzsimons said. The trend fueled Lululemon Athletica's decision to acquire home workout tech company Mirror in a $500 million deal.
Increase your retail acumen The right tech can boost customer experience with personalization and data. Are you aware of what technology is being used to succeed in retail? Learn how to harness the power of emerging technology. Register Now.
Trade groups including NRF and the US Chamber of Commerce have urged President Donald Trump, Vice President Mike Pence and the governors of Maryland and New York to issue national guidelines for requiring mask wearing. "We believe that a national mask standard, implemented locally, offers the surest way to protect public health and promote economic recovery," they wrote in a letter.
Integrating the latest technology while also creating a personalized shopping experience will be crucial for grocers preparing to meet a future being shaped by the pandemic and its profound impact on shopping behavior, according to customer service expert Blake Morgan. "The future of grocery is all about customer-choice -- giving customers the options they want at every stage of their lives," she writes.
Sales of lipstick and other lip products fell 59% in the three months ending June 14 compared to the same period last year, according to Numerator, as consumers took to covering their mouths with face masks during the coronavirus pandemic. However, sales of skin, hair and nail care products are on the rise as consumers use more do-it-yourself beauty products amid the pandemic, said Sarah Jindal, associate director of global beauty and personal care at Mintel.
Current events and increased awareness of social issues have a real impact on shopping behavior. Rachel Bonsignore, a senior consultant at GfK Consumer Life, says this is a critical time for companies to make their values clear in an authentic way as shared values are more important than ever before. In this new episode of the Retail Gets Real podcast, Bonsignore shares how consumers' values are changing and why now is the time for brands to pay attention. Read more.
Behavioral science can help companies understand consumer behavior online and implement strategies to help achieve their goals. Chris Goward, WiderFunnel Marketing Optimization founder and CEO, shares how understanding user intentions and buyer personalities can lead to purchases. Goward will also present at NRF NXT All Access, an online event for digital retailers taking place July 20-22. Learn more.
Restaurateur Danny Meyer's Union Square Hospitality Group has joined with Brookfield Properties and the nonprofit Rethink Food to turn three of the group's New York City restaurants into community kitchens. The eateries will prepare 125,000 meals for food insecure people in the South Bronx, an effort that will help the company gear up for the day dining rooms are allowed to reopen, Meyer said.
