News

The missing piece of omnichannel retail: returns
It’s almost time to stop using the term omnichannel retail.

Modern customers have told retailers that they expect consistency across channels during their shopping journeys. That caused some disruption several years ago, but the market responded.

Retailers that haven’t grasped the concept of omnichannel and implemented it successfully are generally out of business or losing serious market share to slicker competition. The term omnichannel has more or less become superfluous: It is now implied in the simple term retail.
Which retailer will dominate online holiday shopping?
A familiar name factors heavily into the online holiday shopping plans of consumers.

The Hardy Northeast

Some parts of the country are still waiting for economic recovery, but the Northeast is already enjoying a return to financial prosperity.

The Northeastern U.S. offers a consumer base that is better educated and wealthier than that of many other areas. As a result, vacancies in Northeast centers tend to be low, giving landlords leverage in determining rents and tenant mixes.
Shoppers are taking a ‘mobile first’ approach

Retailers who develop their e-commerce environments for mobile phone users appear to be on the right track.

According to the new Q3 Shopping Index from e-commerce platform provider Demandware Inc., tablets now account for only 11% of digital commerce traffic, down 22% from its peak of near 15% in the first quarter of 2014.
Meanwhile, mobile phones account for 41% of digital commerce traffic. Desktops still lead with 48% of traffic, but the only platform showing traffic growth is mobile phone.
One big-box retailer shows digital ‘genius’

Of all the major big-box retailers, only one has a digital IQ ranking in the “genius” range.

According to the new Big Box Digital IQ Index from business intelligence firm L2 Inc., Home Depot stands along among big-box chains with a genius-level digital IQ score of 144. IQ scores measure performance in four key areas of site and e-commerce, digital marketing, social media, and mobile and tablet.
Is Abercrombie & Fitch on the comeback trail?

It appears that Abercrombie & Fitch Co. is starting to making progress in its turnaround efforts.

Helped by a less promotional stance and cost cuts, the teen retailer saw its profit more than double in its third quarter as it beat expectations. But similar to many other retailers, Abercrombie struck a cautious note and said it expects fourth-quarter same-store sales to be about flat.
Fresh perspective has Fresh Market ready to grow

Fresh Market’s new CEO Rick Anicetti said he is making changes as fast as possible to restore growth to a retailer he contends has enormous untapped potential.
Foot Locker still outrunning its competitors

Higher demand for running and basketball shoes is translating into more record sales and profits for Foot Locker, which reported impressive third quarter results on Friday.

The New York-based specialty athletic retailer posted a same store sales increase of 8.7% in its third quarter ended Oct. 31.
The North Face, London

The North Face puts its passion for adventure and the great outdoors front and center in its new flagship on Regent Street in London. Designed to inspire customers to explore the world, the 4,300-sq.-ft. store has a sleek, modern look.
Destination XL adds global strategy exec as sales grow

Destination XL says it is on pace to open its 175th store next year as the big and tall retailer also posted a jump in same-store sales and filled a newly created position with a veteran from Genesco.

For the third quarter ended Oct. 31, same store sales at the company increased 4.3%. Destination XL also narrowed its loss to $5.47 million, or 11 cents a share. In the previous year period, the company reported a loss of $6.28 million, or 13 cents a share.