Data & Analytics

New York -- Retailers in the United States are taking a huge risk by underestimating the buying power of the over-50 generation, according to a new report by the Fung Business Intelligence Centre.
 
The study, “A Booming Opportunity: Profiling from a Graying America,” finds that the aging Baby Boomers will continue to be a growing consumer market for the next 20 years.

Omaha, Neb. – Net income at Gordmans Stores Inc. dropped 15% to $2.3 million in the fourth quarter of fiscal 2014, from $2.7 million the same period a year earlier. Increased selling, general and administrative (SG&A) costs helped push down profits.

In 2015, the company plans to open six new stores, two of which opened in the Cleveland area earlier in March. Gordmans also plans to close one store later in 2015 when the lease term expires.

Chain Store Age hosted its 51st annual SPECS 2015 conference on March 15-17, in Las Vegas. Here are three takeways from the conference concerning technological innovation in the store planning area:

1. Overflowing Shelves are the Enemy
For most brick-and-mortar retailers, having shelves chock full of merchandise with every possible variation (such as size and color) is the definition of successful merchandising. But in actuality, overflowing shelves leave store associates too busy to assist customers, who are left overwhelmed.

A few months ago it seemed as though drone delivery was not going to happen for Amazon.com. Now the retailer's dreams of Amazon packages flying through the sky are a lot closer to reality, thanks to the FAA. 

Amazon.com has received preliminary approval from the Federal Aviation Administration to research, develop and test drone delivery -- but that doesn't mean customers can expect their orders to arrive by drone anytime soon.

Wayne, N.J. -- Toys “R” Us Inc. swung to a profit in the fourth quarter, amid a major restructuring initiative that looks to cut up to another $175 million in expenses.

The Next Big Thing in e-commerce is set to launch in late May according to Marc Lore, CEO of a new online Marketplace called Jet that blends aspects of the traditional warehouse club model with a new approach to dynamic pricing and fulfillment.

Lore said the Jet board of directors is scheduled to meet on May 7. At that time he expects the platform will be ready for launch and the board will pick a specific launch date within the following two week window.

New York – Multicultural consumers are growing in importance as the U.S. increasingly becomes a multicultural country. According to an upcoming study from Nielsen, “The Multicultural Edge: Rising Super Consumers,” multicultural consumers today are leaders in technology adoption.

Wasn’t Best Buy supposed to be out of business by now? Instead, the company has shown itself to be one of the retail industry’s most resilient operators, achieving growth in the face of intense competition and deteriorating demand for once hot product categories like tablets.

Not that long ago Best Buy was at risk of becoming irrelevant, a victim of showrooming and competitive forces, headed for a fate similar to RadioShack. Instead, as evidenced by its fourth quarter results, Best Buy is practically thriving against some still challenging circumstances.