Data & Analytics

Hallmark Cards Inc. is ensuring it can effectively offer consumers the chance to create their own personalized products.

The Kansas City-based specialty gift retailer, which operates more than 30,000 U.S. stores as well as digitally, provides a custom gift option which allows shoppers to order items made to their tastes and specifications. This places strain on the company’s research and development (R&D) department.

Visiting the expansive Mall of America in Bloomington, Minnesota, has always been an experience for shoppers, but a recent digital upgrade takes that experience to a new level.

The Internet of Things (IoT) is one of the hottest topics in retail technology. While there has been a lot of talk about IoT’s status as a game-changer for retail, there has been less discussion on exactly how it will drive industry transformation.

Here are three specific ways IoT will bring about a new era in retail operations.

Automatic shopping

Brentwood, Tennessee-based rural lifestyle chain Tractor Supply Company saw net income, net sales and same-store sales all rise in the first quarter of fiscal 2016, compared to the prior-year period.

Net income increased 17% to $67.7 million from $58 million, despite a 10% increase in selling, general and administrative (SG&A) expenses to $386.2 million from $351.8 million. Higher gross profit and pretax income helped boost net income.

The retail executives responsible for delivering omnichannel customer experience admit there is much work to be done to come in line with consumer expectations and demands.

Business technology and services provider Periscope, a McKinsey solution, conducted a survey of attendees at World Retail Congress 2016 held in Dubai in April 2016. According to the results, only 21% say they are more confident than a year ago on delivering omnichannel experiences. Another 45% say progress is not happening fast enough.

When it comes to shopping in stores, “digital natives” want the same technological conveniences they have come to expect online.

According to a new research report from Euclid Analytics, “Bringing Digital Engagement In-store,” 67% of millennial adults age 18-34 would be very or somewhat likely to use in-store WiFi for faster checkout via an exclusive VIP line. This compares to 60% of Gen Xers 35-54 and only 38% of baby boomers age 55 and older.

From hyperlocal social media intelligence to mobile survey creation, this month’s crop of startups is filling niche spaces that can have a big impact on a retailer’s business. Learn about an augmented reality platform that’s elevating the online experience, a social referral startup that makes it easy to spread rewarding word-of-mouth recommendations and an analytics company that helps retailers and CPG companies get the most out of their online and transaction-level customer data.

SurveyMe

Under Armour continued its winning ways in the first quarter, beating sales and earnings forecast as net revenue rose 30%. The brand has had 24 consecutive quarters — six years — of sales growth of more than 20%.

Sales rose to $1.05 billion for the quarter that ended March 31, up from $805 million in the first three months of last year. The company noted that footwear sales soared more than 60% to $264 million amid the popularity of NBA superstar Stephen Curry’s signature basketball shoe line and expanded running offerings.