Data & Analytics

One of the most exciting and rewarding things about being part of a tightly integrated national network of retail brokerages is the degree to which that network can serve as a resource unto itself. Fellow professionals from around the country and the world can engage in knowledge sharing about market-specific forces, industry observations and invaluable perspective about the changing face of the industry.

Target Corp. is tapping into the startup community in San Francisco and the Silicon Valley to gain a merchandising edge.

The retailer is launching a series of “Demo Days” aimed at discovering interesting new “smart” products from startup companies. The program kicked off on Feb. 23, with Target inviting 12 startups to its office near Silicon Valley to pitch “smart baby” products. Each company had 20 minutes to showcase its products and receive real-time feedback from Target.

They are not mythological monsters, but a real phenomenon retailers say is limiting their ability to take advantage of emerging technologies.

The National Retail Federation (NRF) is officially calling on Congress to pass patent reform legislation that would put an end to “shakedown settlements” forced on retailers by “patent trolls.” Patent trolls are companies that purchase often-obscure patents for technology they did not invent, then demand licensing fees from retailers and other businesses that may not realize the technology is patented.

Boston-based online home furnishings retailer Wayfair Inc. managed to shrink its net loss in the fourth quarter of fiscal 2015 while other financial results soared.

Wayfair reported net loss of $15.49 million, down from $72.55 million in the same quarter a year earlier. Growth in cost of goods sold, operating expenses and other costs did not match the rate of revenue growth. Net revenue increased 81% to $739.79 million, from $408.62 million.

The Home Depot Inc. specializes in letting customers do it themselves, and is now extending that philosophy across all channels.

“We want to provide interconnected retail, and mobile is one area where we are leaning,” Matt Jones, general manager of mobile for Home Depot, said in an interview with Chain Store Age. “We want to help customers solve their problems in a couple of ways.”

According to Jones, today’s consumers are leveraging mobile devices to aid multiple parts of their shopping experience.

Imagine if the type of products consumers normally buy at the last minute represented your product assortment.

For Rocky Mountain Chocolate Factory Canada, a Vancouver, British Columbia-based specialty vertical candy retailer with about 68 Canadian stores, this is the reality of the store environment.