eCommerce

Wal-Mart Stores and Target Corp. stand at very different junctures, according to new report from Moody's Investors Service.    Walmart is starting to reap more discernible rewards as it adapts more quickly to a rapidly-changing consumer landscape -- and with fewer missteps -- than Target has managed, according to the report, "Wal-Mart Stores, Inc. and Target Corporation: Walmart Is Gaining Momentum, While Target Is Still Clawing Back Lost Ground."  

WalmartLabs’ newest project is giving comrades and competitors alike, a peek into its open-source software.   The retail behemoth has migrated its online platform to a React-based application platform over the last year, one that was built in-house by WalmartLabs. Now Walmart’s innovation division is open-sourcing this platform, reported TechCrunch.  

SPECS, the “Retail Event for Store Innovation,” has officially opened registration for its 53rd annual conference, to be held next March.   SPECS/2017, exclusively produced by Chain Store Age, is a diverse, dy-namic and engaging window into the world of retail, offering an annual opportunity for education and networking. A lineup of more than 30 workshops and sessions will cover topics and issues that impact store de-sign, construction and maintenance.   

Physical stores still play a crucial role in holiday shopping.    That’s one of the major themes of the International Council of Shopping Centers’ annual holiday forecast, which emphasizes that, more than ever before, shoppers will expect an omnichannel experience this season. The report predicts 3.3% year-over-year growth sales at physical stores this holiday season (compared to 2.2% increase in 2015). Including online sales for physical retailers, ICSC predicts sales will rise 3.5%.     

From increased budgets to a desire for free shipping to gifts for pets, PwC’s “2016 Holiday Outlook” report predicts the following trends will drive the upcoming holiday season:    1. Bigger holiday budgets: Shoppers will likely spend 10% more this holiday season; an average of $1,121 each. And consumers with annual household incomes less than $50,000 will likely increase their percentage spending levels even more than consumers overall.  

In the strongest forecast so far this year, holiday spending is expected to reach its highest point since the Great Recession, led by strong digital sales.   That’s according to PwC’s 2016 Holiday Outlook, which forecasts a 10% total rise in holiday spending over last year, and a 25% rise in digital sales.    “The great news for all retailers is consumers are much more optimistic this holiday season,” said Steven Barr, PwC’s U.S. retail & consumer leader. 

Bonobos opened its fifth Manhattan store this week on Madison Avenue, surrounded by neighbors that include Porsche Design, Tourneau, Dino Baldini, and Lladro.   Called the Bonobos Guideshop NYC, the store inhabits a 1,725-sq.-ft. ground floor space with all-glass frontage on the southwest corner of 52nd Street in the shadow of St. Patrick’s Cathedral. The deal was brokered by RKF.   

Online shopping is great. It saves time, provides tons of options in one place, and the customer doesn’t have to navigate swarms of people to checkout. Younger generations value this, and are moving the majority of their shopping online.   But that doesn’t mean retailers can’t pull customers back to their brick-and-mortar stores. Here are four recommendations to entice customers back into your stores:    1. Attentive Customer Service