Data & Analytics

Expansion-minded Ross Stores turned in a solid performance in its first quarter amid what its CEO called “uncertainty and volatility” in the retail environment.    The off-price retailer, which is opening some 80 to 90 stores annually, reported earnings per share for the quarter ended April 29, 2017 of $.82, up from $.73 in the year-ago period. Net earnings grew to $321 million, compared to $291 million in the prior year.   

E-commerce or brick-and-mortar retail environments continue to merge, and retailers are in the hot seat to optimize the customer experience.   As a result, the need to adopt innovative technologies to engage shoppers has never been stronger. This was according to the “2017 Customer Experience/Unified Commerce Benchmark Survey” from Boston Retail Partners.   

Although Walmart is an old-school retailer, it is not afraid to learn new tricks and to shift its thinking. This youthful and innovative approach has helped it deliver another solid set of results in a highly competitive market.  

Google is once again expanding its digital payment options.   The company knows it can be difficult for shoppers to make online payments within third-party apps and mobile websites, as well as in Google Assistant, when they are on the run. A new service is easing this pain and giving users more options.  

Automation may be mission-critical to operational longevity in the retail industry, but it could be creating a significant pool of “stranded workers.”   Six million to 7.5 million retail jobs likely will be automated out of existence in the coming years, leaving a large portion of the retail workforce at risk of becoming “stranded workers.” Retail cashiers are at highest risk for automation technologies, and women hold 73% of these positions.  

Ikea is looking to expand in presence in North Carolina.   The retailer said it is submitting plans to the Town of Cary, N.C., for a potential Raleigh-area store, which would be the second Ikea location in the state. The proposed 15-acre site would be located adjacent to the existing Cary Towne Center, approximately 12 miles west of downtown Raleigh and two miles from downtown Cary.  

While handbags and purses have historically been considered a “risky gift,” times are a’ changin.’   In fact, handbags and purses were the most popular gift for Mother’s Day 2017, representing six of the top 10 gifts for the holiday. Overall, the accessories category led the top gifts purchased for Mother’s Day, according to data from Loop Commerce. Results were based on sales made on the company’s GiftNow platform.  

So what’s the bottom line? By rethinking stores and testing new ideas with customers in real-life stores, we are improving customers’ experiences and making it easier than ever for them to get what they need as quickly and easily as possible.