Consumer Electronics

Wearable technology has a way to go before it becomes mainstream, but perhaps not as far as some observers think.  

U.S. retailers ended spring with a small but notable improvement in financial performance.   According to new data from the U.S. Census Bureau, adjusted advance estimates of U.S. retail and food services sales for June were $457 billion. This represents an increase of 0.6% from the previous month, and 2.7% higher than June 2015.  

Consumers are not skimping on back-to-school spending this year, and brick-and-mortar retailers have extra reason to celebrate.   The International Council of Shopping Centers (ICSC) has released its annual back-to-school consumer survey results, finding an overall uptick in spending. The average back-to-school (BTS) shopper is expected to spend $657, with 78% expecting to spend more than the prior year.  

Results of the 2016 Harris Poll EquiTrend Retail Brands of the Year study show that some retail chains truly “get it” when it comes to engaging consumers.   Two retailers were named top brand in their respective categories for the fourth straight year. These are the Home Depot, which has been named hardware and home brand of the year. And Kohls.com, which has been named online department store brand of the year.  

Toronto-based general merchandise retailer Canadian Tire Corp. has made a sudden shift at the top of the company’s executive structure.   Stephen Wetmore, who previously served as CEO of Canadian Tire from 2009-2014, has been named president and CEO of the company, effective immediately. Wetmore, who has remained on the board of directors after leaving the CEO post, will remain a director of the company but step down as deputy chairman of the board.  

Amazon provided some general data on the performance of Prime Day, but now more information is coming out courtesy of several third-party analysis providers.  

Muji, the low-cost, high-design Japanese retailer that had heretofore concentrated its stores in fashionable districts of New York, San Francisco, and Los Angeles, is making a move into New Jersey.   Muji will open an 8,600-sq.-ft. store next month at the Westfield Garden State Plaza in Paramus, its first mall location in the Greater New York area. Current shops are found on Fifth Avenue and in Soho and Cooper Square in Manhattan.  

Walmart has not been sitting idly by while Amazon racks up sales and attention for its Prime Day event.   The discount titan launched its own online sales promotion July 1. Offerings include a free 30-day trial of its ShippingPass program, which offers consumers unlimited, two-day free shipping for a year, special online rollback prices which will last 90 days or more, and free shipping with no minimum purchase on its e-commerce site from Monday, July 11 – Friday, July 15.