eCommerce

The third annual Amazon Prime Day attracted more shoppers than ever, with many attracted by personalized marketing efforts.    Thirty-six percent of respondents confirmed they made a purchase on Amazon Prime Day in a survey from Periscope by McKinsey, which conducted online research with U.S. shoppers to explore their attitudes and actions regarding the online giant's mega-sale. This was a substantial increase on the 22% who said they had actively shopped for Prime Day deals in 2016.   

Urban Outfitters' profit and sales fell in the second quarter even as it topped Wall Street expectations.   Urban Outfitters said it earned $49.91 million, or 44 cents a share, in the quarter, down from $76.91 million, or 66 cents a share, in the year-ago period, as the retailer Analysts had expected the company to earn $0.37 per share, amid heavy discounting.    Total net sales fell 2% to $873 million, from $891 million a year ago. Analysts had expected sales of $862 million. 

Given the difficult business conditions so many brick-and-mortar retailers are facing, it’s baffling that conversion rate optimization (CRO) hasn’t become more of a focus if not an obsession.   In the online world, CRO has become an industry onto itself, spawning a global community of consultants and service providers, formal methodologies and over a hundred books dedicated to the topic on Amazon alone. There is only one book on brick-and-mortar conversion listed on Amazon.  

Coach beat the Street on earnings in the fourth quarter even as its sales declined as the company continued to pullback on shipments to department stores.    Net income nearly doubled to $151.7 million, or 53 cents per share, in the quarter ended July 1, amid a 16% decline in selling and general expenses, compared to net income in year-ago period of $82 million. Earnings, adjusted for non-recurring gains, came to 50 cents per share. Analysts had estimated earnings of 49 cents per share.  

The delivery wars continue to heat up.  

Posting less-than-expected earnings in its second quarter, the nation's largest sporting goods retailer plans to take a more promotional stance.   Dick's Sporting Goods reported consolidated net income of $112.4 million, or $1.03 per diluted share, for the quarter ended July 29, compared to $91.4 million, or $0.82 per diluted share, in the year-ago period. Excluding certain items, earnings came in at 96 cents, lower than the $1.01 that   analysts had expected.  

Pop-up stores are a retail trend that shows no sign of slowing down.   The ability to create a brick-and-mortar presence without many of the hassles that come with establishing and maintaining a permanent physical location has become an increasingly attractive option in recent years. The pop-up store concept has transformed into an estimated $50 billion industry — fostering new partnerships, experiential marketing opportunities and a unique way for retail brands to engage with their customers.   

Online giant Amazon continues to shorten delivery time with a new service that puts goods in shoppers’ hands within minutes of placing their order.