News

PwC: Mobile shoppers in U.S. aren’t buying
U.S. consumers are willing to use mobile devices during the shopping process, but not so much at the end.

According to a new study of 23,000 global consumers (including U.S. shoppers) from PwC, “Total Retail 2016,” only 22% of U.S. consumers make a mobile purchase at least monthly and only 26% say mobile will become a main purchasing tool for them in the future. Deloitte cites the lack of widespread tools to make mobile purchasing easier, such as buy buttons, currently available in the U.S.
Target bringing in startups to find innovative products
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.

NRF takes ‘patent troll’ fight to Congress

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.
Whole Foods to take Instacart partnership to new level

Whole Foods Market has been offering deliveries via Instacart in select markets for about a year, but reportedly is significantly extending the scope of the deal.

According to Re/code, Whole Foods has at least in principle made an unspecified investment in Instacart. Whole Foods has also reportedly signed a five-year deal making Instacart its exclusive perishables delivery provider.
Pandora mixes old with new in promotional campaign

Specialty jewelry retailer Pandora found that combining a leading-edge marketing technique with a tried-and-true advertising format paid dividends during the recent holiday season.

From November 2015 – January 2016, Pandora leveraged the mobile network from location-based marketing provider Outfront Mediato drive traffic to four Miami-area stores. Pandora’s omnichannel approach included nine billboards in Miami, as well as a geo-fencing area that consisted of a five-mile radius around nine local out-of-home assets owned by Outfront Media.
Online marketplace Etsy outlines path to profitability

Etsy’s goal of “reimagining commerce,” is a long-term proposition, which explains why after the company lost money again in the fourth quarter it tempered the news with a rosy three year sales and profit forecast.
Golfers spread the word about TaylorMade

Golf aficionados are notoriously particular about their equipment, and most interested in the recommendations of fellow duffers when making product selections.

Vertical golf retailer TaylorMade is leveraging the Needle Advocate Marketing Cloud to help bring online customers in contact with brand advocates to provide highly targeted content and information. Advocate Marketing Cloud eases the collaboration process for retailers and advocates.
Consumer confidence slips in February

Consumer confidence fell into a slump in February, driven largely by a less optimistic view of business conditions.

According to the Conference Board, the index currently stands at 92.2, down from 97.8 in January.
Build-A-Bear adds toy, social media expertise to board

Build-A-Bear is adding two new board members whose backgrounds should serve the company well as it moves forward with its transformation plan.

Build-A-Bear announced that Tim Kilpin and Sarah Personette have been appointed to the company’s board of directors.

Kilpin, 55, will serve as a member of the Audit Committee and as a member of the Compensation and Development Committee. Personette, 36, will serve as a member of the Compensation and Development Committee and as a member of the Nominating and Corporate Governance Committee.
Record results for Ace Hardware

Ace CEO John Venhuizen

Even with one less week in the calendar year, Ace Hardware Corp. ran up its wholesale sales to a record $5.0 billion. Along the way, the Oak Brook, Illinois-based co-op delivered a pre-tax return on equity of 33%.

“I'm honored to report the third consecutive year of record financial performance for the company," said John Venhuizen, president and CEO.