Corporate Governance

It would take a pretty big event to cause Nordstrom, Saks Fifth Avenue, Bergdorf Goodman, Saks Off 5th, and Neiman Marcus to all align their online discount offers.

Singles Day, coming up on Nov. 11, is just that size of an event. Once an informal celebration of the Chinese singles dating scene, Chinese e-commerce giant Alibaba formally turned Singles Day into a shopping holiday in 2009. The occasion generated gross merchandise volume of more than $9.3 billion on the Alibaba Alipay mobile and digital payment platform alone in 2014.

Macy's is adding a retail industry and corporate governance expert its board of directors.

The retailer has named Frank Blake, recently former chairman and chief executive officer of Home Depot, its board. Blake’s election increases the size of the board to 14 members.

Excess energy consumption in retail can exceed 30%, which means there is a huge opportunity for savings that many retailers s have not yet fully explored.

Retailers spend nearly $20 billion annually on energy expenses, according to the U.S. Environmental Protection Agency. By saving just 15% from optimizing operations and eliminating waste, we can save $3 billion as an industry.

Everyone wants to know how Walmart can compete with Amazon in e-commerce when the latter doesn't really make money at it. According to Ad Age, "The more Walmart does to differentiate itself from Amazon and offer a better value proposition, the more it will succeed," she said. "The more it focuses on price and value, the more it can compete." But it's a very long game. [Ad Age]

Online retail sales continue to increase – both in absolute terms and as a percentage of total retail sales. The fact remains, however, that online commerce takes place in what is essentially a one-dimensional transactional venue.

When Amazon.com opened its first brick-and-mortar store this month selling books, many wondered what the e-commerce giant was up to. Now Forbes is telling us what that is. [Forbes]

Everyone knows shrink is a major issue, and retailers are continually rolling out more sophisticated means of preventing shrink. However, according to Fortune, Walmart’s shrink prevention efforts have included the use of “sci-fi” facial recognition technology to identify suspected shoplifters, and there may be privacy concerns. [Fortune]

Online retail sales continue to increase – both in absolute terms and as a percentage of total retail sales. The fact remains, however, that online commerce takes place in what is essentially a one-dimensional transactional venue.