eCommerce

The pressure is on for retailers to not only meet customer expectations, but to exceed them as differentiation in the retail industry becomes paramount. Amazon has raised the bar for expectations with offers such as same-day delivery and free shipping, as well as spread its influence to become one of the world’s biggest retailers.  

Best Buy pulled out its latest weapon in the battle to win last-minute holiday shoppers: free shipping.     For the third year in a row, Best Buy will offer free expedited shipping in the final stretch of the holiday season. Starting Thursday, Dec. 15 through 11:30 a.m. EST on Wednesday, Dec. 21, BestBuy’s online shoppers will automatically have their shipping upgraded to two-day shipping on almost everything.     

As the holiday shopping season enters the home stretch, it’s brand’s last chance to deliver the categories shoppers need to complete their gift purchases.  

The good vibes, as well as the negative rumblings, that percolate through big events are an annual check on the pulse of an industry. In the case of retail real estate, I am happy to report that the positives seemed to outweigh the negatives at ICSC’s Deal Making show in New York last week.   Let’s start with the good stuff.  

The start of the holiday shopping season did not bring with it a big jump in retail sales.        Retail sales, excluding automobiles, gasoline stations and restaurants, increased 0.1% in November, according to the National Retail Federation, less than many analysts had expected.       

Construction on Fifth+Broadway, a $430 million mixed use project destined for the former site of the Nashville Convention Center, will get underway in second quarter 2017, according to co-developers OliverMcMillan and Spectrum Emery. It will include 183,000 sq. ft. of retail space.   The mixed-use project will house the National Museum of Africa American Music and feature 345,000 sq. ft. of high-rise residential and 350,000 sq. ft. of offices. A 16,000-sq.-ft. roof-top event deck is also in the blueprints.  

Toys "R" Us Inc.’s sales fell in the third quarter amid weakness in the electronics and entertainment category.    The company reported a loss of $156 million for the October quarter, compared with a loss of $167 million in the year-ago period. The latest period included a net gain of $45 million related to the sale of its FAO Schwarz brand.   Revenue fell 2.3% to $2.28 billion, from $2.33 billion in the year-ago period.    

The past year brought with it seismic shifts as the retail industry continued to adapt to the evolving digital landscape and changing shopping habits. It also brought with it a changing of the guard, as many companies anointed new leaders to steer their ships in a transformed marketplace.    Here are six newly arrived (or soon to arrive) CEOs to keep an eye on in 2017:    Jeff Gennette, Macy’s Inc.