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  • 11/26/2023

    Mastercard: Black Friday sales rise 2.5%; apparel, jewelry top gift sectors

    holiday shopping bag with gifts

    Online sales led the way on Black Friday.

    U.S. retail sales on Black Friday (November 24) rose 2.5% year-over-year, according to Mastercard Spending Pulse, which measures in-store and online retail sales across all forms of payment.  (The sales are not adjusted for inflation.) 

    E-commerce sales remained strong increasing 8.5% year-over-year as consumers shopped deals online. In-store sales increased 1.1% year-over-year.

     A number of sporting events aired on Friday, making online shopping an appealing option for game day viewers to shop wherever they might be watching, noted Mastercard. 

    Other key Black Friday trends from the Mastercard report are below.

    •While experiential gifts have been the popular choice the past few years, consumers continue to search for something to unwrap for the holidays. Jewelry and apparel ranked as the top gift sectors of the day. 

    •In addition to shopping, consumers gathered with friends and families for shared meals to celebrate the holidays with the restaurant sector continuing its growth streak.

    •Retailers once again started their Black Friday sales early in the month, giving consumers ample time to search for promotions and score the best deals.

    •While experiential gifts have been the popular choice the past few years, consumers continue to search for something to unwrap for the holidays. Jewelry and apparel ranked as the top gift sectors of the day. 

    •Department store sales as well as furniture and furnishings continued to lag other sectors compared to 2022.

    “Consumers are navigating the holiday season well and taking advantage of holiday promotions, giving them ample choice as they hunt for gifts for everyone on their list,” said Steve Sadove, senior advisor for Mastercard and former CEO and chairman of Saks Incorporated. “Consumers are also shopping smarter, using all of their tools – from searching across channels to cross checking on apps and websites – to maximize value while they spend time with friends and family

  • 11/20/2023

    Pet Supermarket taps Five Below exec as CEO

    Pet Supermarket

    Pet Supermarket has named a retail veteran with 25  years of retail, e-commerce and consumer goods experience as its chief executive officer. 

    The Florida-based specialty pet supply retailer named Rich Tannenbaum as CEO.  Most recently, from 2019 to 2023, he held the role of senior VP of global supply chain at Five Below, where he led the retailer’s rapid multinational logistics expansion. 

    Prior to Five Below, Tannenbaum was chief supply chain officer and senior VP of information technology at Midwest retail chain Fleet Farm. He also served 10 years as senior VP of supply chain, IT and enterprise transformation at The Vitamin Shoppe.

    “It is an incredible honor to be selected as Pet Supermarket’s next CEO, and to lead and serve this great organization,” said Tannenbaum. “I appreciate the leadership and work of all who came before me to build Pet Supermarket into the successful business and brand it is today. I am thrilled to help lead the organization into its next chapter of growth and success.”

    The company said that Tannenbaum will help execute “multi-year growth and expansion plans.”

    Pet Supermarket operates over 225 locations in the Southeast region.

  • 11/21/2023

    Miniso to open 15 more U.S. stores by year end, including 100th location

    Miniso

    Miniso continues its U.S. expansion in both existing markets and new regions.

    The China-based discount retailer opened more than 20 new stores in the United States in recent months. Looking ahead, Miniso said it plans to open at least 15 more U.S. outposts by the end of the year and will enter two new states: North Carolina and New Hampshire. 

    The upcoming openings include Miniso's 100th U.S. location, which will open on Dec. 9 at the Florida Mall in Orlando. The 2,080-sq.-ft. store will showcase the brand's various product categories in dedicated zones, including blind box collectibles, toys, plushies, fragrances and more. It will also offer a wide range of Miniso's licensed collaborations, such as Disney, Barbie, Sanrio and an upcoming one with Care Bears.

    "We are thrilled to be on the cusp of opening our 100th store in the U.S.," said Jack Ye, Miniso's founder and CEO. "We’ve always regarded the U.S. as a vital part of our overseas operations, ever since we opened our first store here back in 2017. I am looking forward to continuing to grow our business here and forging even closer relationships with US consumers.”

    In October, Miniso opened five new stores, including its first-ever location in Indiana, a 3,500-sq.-ft. store at Castleton Square in Indianapolis. The retailer also opened its first stores in Louisiana — at the Mall of Louisiana in Baton Rouge — and in Michigan at Great Lakes Crossing in Auburn Hills. 

    So far this year, the company, which opened a Times Square flagship in May, has entered 10 new states, for a total of 20 states. In addition to Michigan, Indiana and Louisiana, the brand has opened stores in Oregon, South Carolina, Arizona, Connecticut, Maine, Georgia, and Oklahoma.

    Miniso also continues to expand on the West Coast, with stores at Fashion Show in Las Vegas, and Northridge Fashion Center in Northridge, Calif.

    Looking ahead to 2024, Miniso is gearing up to extend its footprint into more cities, targeting prime locations including Santa Monica, Calif., and the state of New Jersey.  The company is also looking securing a more prominent location within Times Square.

    Miniso operates 6,115 stores worldwide.

  • 11/21/2023

    Happy Thanksgiving from Chain Store Age!

    Happy Thanksgiving

    The team at Chain Store Age wishes you and your family a safe and happy Thanksgiving.

    Our offices will be closed on Thursday, Nov. 23, and Friday, Nov. 24.  We will resume our regular newsletter schedule on Monday, Nov. 27.

  • 11/20/2023

    Kohl’s COO out — after less than a year on the job

    Dave Alves

    The chief operating officer of Kohl’s has exited the company.

    The department store retailer revealed in a Securities and Exchange filing that Dave Alves, president and COO, has left the company, effective Nov. 17.

    Kohl’s named Alves, a 30-year retail veteran, to the role In February, with his appointment effective in April.  Prior to that, Alves spent 10 years at Bealls, including serving as president and chief retail officer, from January 2020 to February 2023. He joined Bealls, which is based in Bradenton, Fla., in 2012, as president.

    In an emailed statement to Chain Store Age, Kohl's said that Alves  is leaving "to pursue other opportunities."

    "We thank Dave for his leadership and wish him all the best in his future endeavors," the company stated.

    Alves’ appointment as Kohl’s COO came several weeks after the retailer’s board appointed Tom Kingsbury as permanent CEO.  And it comes one day before the company is scheduled to release its third-quarter earnings. Kohl's reported declines in its second-quarter earnings and sales, although both were in line with its  expectations.

    Kohl's has more than 1,100 stores in 49 states.

  • 11/20/2023

    Survey: Cybersecurity matters to consumers ahead of shopping holiday weekend

    Online shopping

    With the Thanksgiving holiday shopping weekend days away, a new survey shows that cybersecurity is increasingly important to consumers making online purchases.

    In a new study from Cybersecurity Guide,  57% of respondents “frequently” use websites to make purchases, and 42% use the internet to “sometimes” shop. When it comes to online spending this year, 41% intend on spending between $100 and $500, 19% of respondents plan on spending between $500 and $1,000, and 14% of respondents plan on spending more than $1,000.

    Respondents in the survey say that site reputation and a sense of security online matter. A wide majority of respondents (68%) said that they avoid certain websites because of cybersecurity issues, while only 21% said they did not.

    The cautiousness about non-secure websites comes from personal experience for many. According to the survey, 48% of respondents said they had dealt with ID or payment information theft online.

    Cybersecurity Guide found that consumers product their identity and payment info online in a number of ways:

    • 53% of respondents use credit monitoring services
    • 20% of respondents use identity monitoring services
    • 52% of respondents use password managers
    • 18% of respondents use virtual private networks (VPNs)
    • 14% of respondents use other security services
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