In recent years, off-price retailers have successfully gained precious market share from traditional retail channels.
The growing demand for designer trends at deep discounts coupled with shorter-lead times and agile buying within off-price
Given that all Best Buy’s physical stores were closed for six weeks of the quarter and that it sells mostly bigger ticket discretionary products, a sales decline of 6.3% is nothing short of a remarkable result.
As the largest grocer in the U.S. – and one of the handful of retailers that remained open in March and April – many consumers turned to Walmart during the coronavirus crisis, both to stock up pantries and to secure the everyday goods they need.
Chain Store Age recently spoke with David Holme, founder and CEO of Exigent Group, about how retailers can adapt — online and in store — to the changes and challenges being wrought by the COVID-19 pandemic.
The retail industry was in trouble before the virus. Online retail and e-commerce sites changed consumer spending habits and the high costs of running a brick-and-mortar retail had a negative impact on the industry.
Retail was already challenged on many fronts prior to the pandemic. Now the industry is facing terrible realities that make the bankruptcies and store closures of the past few years seem tame by comparison.
In our technology-driven global economy, the race is on for retailers to find new ways to become more central in their customers’ lives.
This requires rethinking every touchpoint across the retailer-consumer relationship, now more than
What shoppers are looking for when they step foot in a convenience store is in the name: convenience.
They’re looking for an easy, quick experience – whether that’s filling up their tank, grabbing a few items they need, or both.
Since March 1, the entire retail sector has undergone a huge sea change, with several major sectors seeing severe declines in business, even before virtually all specialty apparel and department stores closed the week of March 15, along with many other specialty stores.
As the COVID-19 pandemic continues to dominate headlines worldwide, businesses in nearly every industry face fresh challenges each day, many of which will impact operations in the weeks and months to come.
Consumer buying behaviors are changing dramatically as a result of COVID-19 – what people buy, where they buy, how they buy, how much they buy, and how often. This places great strain and uncertainty on a complex and already over