News

Department store retailer steps back from the off-price retail game
Off-price retailing is hot, but Neiman Marcus is emphasizing what it knows best. Neiman Marcus will close 10 of its 37 off-price Last Call stores in order to focus on its full-line luxury department stores. Prior to the news, the retailer has already closed three Last Call outlets this year, including its locations at Allen Premium Outlets, Allen, Texas, and Legacy Place in Dedham, Mass.
Study: Cash-free society could be here sooner than you think
A cash-free economy could be here sooner than expected — and American consumers are leading the charge. Slightly more than half (54%) of consumers in the United States expect to stop using cash for shopping by 2020, according to “Lost in Transaction,” a report from payments provider Paysafe. The study, conducted among 3,038 consumers in the United States, United Kingdom and Canada, examines how cash is merging with digital formats.

Study: Amazon influences how shoppers research merchandise online

Amazon is expanding into one of the go-to destinations for product discovery. This was according to “Amazon: The Big E-Commerce Marketing Opportunity for Brands,” a report from Kenshoo. The study is based on 3,100 consumers in the United States, Germany, United Kingdom and France.
Home furnishings giant launches augmented reality design app

Ikea is allowing its shoppers to virtually test drive merchandise before making a purchase. The home furnishings giant is preparing to launch a new augmented reality (AR) app. Called Ikea Place, the app allows customers to virtually place furniture in any space in their home, office, school or studio — and share the images. The app, which will be supported by Apple’s iOS 11 platform, will launch in late September.
Online footwear startup to try out brick-and-mortar

Birdies has gotten some new seed — seed funding that is The San Francisco startup, known for its stylish and comfortable house slippers, announced it has raised $2 million in seed funding. The round was led by Forerunner Ventures, the investors behind Jet.com and Dollar Shave Club, with participation from Slow Ventures, Graph Ventures, Social Capital and a few strategic individual investors.
Target ups holiday hiring by 40%

Target Corp. announced a major investment for the holiday shopping season. The discounter said it plans to hire approximately 100,000 employees for the upcoming holiday season, which is up about 40%. Additionally, Target will hire 4,500 workers at the company’s distribution and fulfillment centers to replenish products to stores and fulfill digital sales throughout the season.
On heels of Equifax incident, retailers cite need for uniform data breach law

The National Retail Federation is once again making the case for a new federal law on data breach notifications. Citing the recent breach at the Equifax credit reporting agency, National Retail Federation and other industry associations are telling Congress that any new federal law on data breach notification should apply to all industries that handle consumer data.
Online giant to expand its distribution network in Mexico

Amazon is looking to take advantage of Mexico’s growing e-commerce industry. The online giant is planning to open a 1 million sq. ft. warehouse near Mexico City, according to Reuters. Scheduled to open next year, it would be the company’s third distribution center in the country.
Home improvement giants taps Neiman Marcus exec for supply chain post

Lowe’s Cos. has appointed a 20-year retail veteran to lead supply chain field processes Michael West will join Lowe's as senior VP of supply chain field operations, effective Sept. 25. He will report to chief supply chain officer Brent G. Kirby. West joins Lowe's from Neiman Marcus, where he served on the company's leadership team as senior VP, supply chain. He led distribution, transportation and fulfillment for all brands in the Neiman Marcus Group.
Target in new exclusive partnership—with TV duo

Target Corp. is launching a new brand with HGTV's 'Fixer Upper' stars Chip and Joanna Gaines, and it's doing it just in time for the holidays. The retailer announced an exclusive multi-year partnership with Magnolia, the home and lifestyle brand founded by the Gaines, to launch a home and lifestyle goods line called Hearth & Hand. It is Magnolia’s first collaboration with a retailer.