Data & Analytics

After reporting a 13.2% first quarter same store sales increase, The Tile Shop boosted its full year profit forecast and said it would open between 9 and 12 stores this year.

With 116 stores in 31 states, The Tile Shop has benefitted from the same home improvement tailwinds as Home Depot and Lowe¹s, except its 21,000 square foot showroom style stores are focused exclusively on flooring.

Eighty-eight percent of consumers plan to celebrate Mother’s Day 2016 and clothing is this year’s big winner.

That’s according to the annual Brand Keys Mother’s Day survey, which found that consumers intend to spend on average $205.00 this year, up 6% over 2015.

Men, following a long-standing tradition, intend to spend more than women, reporting an anticipated average spend of $228. Women reported an anticipated spend of $182.

While high bounce and exit rates can be frustrating to online retailers, nothing irks them more than seeing a high percentage of abandoned carts.

You were “this close” to making the sale. But somewhere along the sales journey, the shopper got frustrated or lost interest and left. Why? Chances are it was because you, the retailer, didn’t do enough to keep the customer engaged and motivated to complete the sale.

‘But people love our website!’ you say. ‘Shoppers adore our clothes!’ ‘What more do we need to do?’

Nordstrom announced it will phase out 350 to 400 jobs, primarily in its corporate center and regional support teams, through the end of the second quarter.

The retailer described the reductions as changes in its operating model in order to “continually evolve with the expectations of its customers, ensure it is best positioned to respond to the current business environment, and meet long-term growth plans.”

The changes are estimated to generate savings of approximately $60 million in fiscal 2016.

Office Depot Inc. is turning to virtual reality (VR) to enhance how products are displayed and merchandised in its stores.

The retailer is leveraging the ShopperMX online 3D VR platform from InContext Solutions to create engaging in-store experiences that provide customers with hyper-realistic virtual simulations. This may include virtually enhanced signage and product displays, as well as entirely new store concepts.

Consumers are taking stock of their financial health and how it will affect their decisions to make CPG purchases in the coming months.

According to the new first quarter 2016 IRI Consumer Connect survey, 67% of respondents feel their financial health will improve in the next six months. As a result, CPG spending will generally improve, but shoppers have some specific needs and wants to fulfill.

Yes, but only if you listen — to both of them

In the early days of retail, the store proprietor knew customers by sight. As mostly mom-and-pop businesses, they naturally spent time getting to know their customers, who probably were also neighbors and friends. They knew from experience and immediate feedback what merchandise would or wouldn’t sell. It was the ultimate in customer intimacy.

Michaels Companies Inc. is tailoring its promotions, markdowns and prices to current customer demand.

The arts and crafts retailer is deploying Revionics merchandising solutions including the vendor’s promotions, markdown and price suites.

A very real challenge for retailers — who now market to the most technology-enabled, in-control shoppers ever — is to avoid the promotional downward spiral vortex and sidestep the vicious “race to the bottom” on competitive pricing. These traps severely erode margins, profits and brand image.

Retailers will have a new friction-free way to convert shoppers into buyers this holiday season as Google expects buy button functionality piloted last year to be broadly available by the fourth quarter.

Consumers are making omnichannel grocery purchases at a respectable rate, but could retailers drive higher participation?

A new infographic from business intelligence provider Market Track indicates that omnichannel grocery shopping could be even more popular if retailers made sure it were affordable.

A survey of 1,000 shoppers by Market Track shows that 26% have purchased groceries online. Twenty-one percent have ordered groceries online to be delivered, an increase of 10% from the previous year.