Sources: Amazon eyes former Penney's, Sears stores | Walmart, Sam's Club set sustainable beef goals | CVS sees surge in new customers due to coronavirus tests
Mall operator Simon Property Group is exploring the possibility of having Amazon acquire former department store anchor spaces and turning them into distribution hubs, sources said. Amazon is reportedly eyeing spaces formerly occupied by J.C. Penney and Sears.
Walmart and Sam's Club have announced plans to use more sustainable sources for beef as part of an overall plan to increase sustainability on 20 commodities by 2025. The focus for sustainable beef will encompass the role of farmers, soil health, antibiotic use and animal welfare, and also include better transparency and new supplier partnerships.
CVS Health has gained new customers and boosted its profit guidance amid the pandemic, in part by offering drive-thru COVID-19 testing at about 1,800 stores and launching a business-to-business testing service. The retailer had given about 2 million tests by July 31, 40% of them to first-time customers, and most of whom made appointments via the CVS website or mobile app.
While its footprint is nationwide, Whole Foods Market has managed to build a reputation as the top spot for locally sourced products. The grocer focuses on working with local suppliers, including the use of "foragers" who find and grow local producers, said Joanne Neugebauer, an associate buyer for Whole Foods.
Beauty brands are looking to digital channels to grow sales and replace revenue lost as department stores have closed amid the pandemic. Estee Lauder is also renegotiating some inventory deals with department stores to avoid having its products sold at low liquidation prices, and Amorepacific Group is growing partnerships with e-commerce platforms in North America and Asia.
Services that cultivate personalized customer relationships and promote safety will be a key part of the stores of the future as retail recovers from the pandemic, said Deirdre Quinn, CEO of boutique brand Lafayette 148. Quinn and five other retail industry executives share insights into what stores will need to focus on in the future.
Retailers and brands including Macy's and Adidas are adopting virtual try-on technology tools like those that have already become popular among beauty brands. ASOS and Modcloth are also among the retailers using augmented reality and virtual reality tools to allow online shoppers to "try on" fashions and accessories before they buy.
Lonnie McQuirter, owner of 36Lyn Refuel Station, has been feeling the impact of COVID-19 at his neighborhood convenience store. The Minneapolis store has also been near many demonstrations -- it's located less than two miles from the epicenter of the global social justice movement. In this Q&A, McQuirter shares how recent protests have affected his store, the changes he's seen from COVID-19 and the importance of retail's ongoing role in the community. Read more.
Restaurant-goers who want to keep their distance can order seamlessly through Order For Me, a system that allows customers to view a restaurant's menu via QR code without downloading an app. This method provides an up-to-date menu, allows parties to each pay for their own meal and reduces contact between customers and servers. Read more.
Major restaurant chains trimmed menus during the pandemic to focus on best-selling items, drive efficiencies and rein in costs. McDonald's, Taco Bell, KFC, Panera Bread and Subway are among the chains that made menu changes, some of which could become permanent.