News

Why retailers shouldn't depend on apps for sales
When it comes to the rapidly changing retail landscape and how retailers should respond to engage shoppers, it turns out that it's not all about the app.

A new study by Forrester Consulting commissioned by RetailMeNot Inc. shows that while today's consumers overwhelmingly prefer to access the Internet on their mobile devices, only 30% use retailer applications to purchase products. In fact, 60% of consumers have two or fewer retailer apps on their phones, and 21% have none.
The turnaround plan at Kohl's isn't working
Kohl’s has joined other major retailers this week reporting disappointing earnings and anemic same store sales growth.

The Wisconsin-based retailer posted a profit of $130 million in the second quarter ended Aug. 1, below the $232 million in the prior-year quarter. Earnings per share were 66 cents, compared with $1.13 in the second quarter of 2014. Same store sales grew a measly 0.1%. Overall revenue increased by just 0.6%, to $4.27 billion for the quarter.

Lowe's builds a new strategy with N.Y. stores

Lowe’s is giving an overhaul to its store format strategy when it opens in New York City this week.
A Five-Point Checklist for Retailers Making the Move to EMV Before the October Deadline

Credit card fraud is in the United States is at epidemic levels. Last year, the U.S. accounted for more fraud than the rest of the world combined. And the fraud rates are accelerating. EMV technology, which has shown to greatly reduce in-store fraud in the Europe, is finally being rolled out in the United States with an impending deadline in October 2015 when retailers will be liable for in-store fraud for cards that have chips on them.
Wayfair investors say ‘way to go’

Online home furnishings retailer Wayfair is losing less money than before and gaining new customers at a rapid pace.
Report: Impulsive, thrifty millennials a tricky group to court

Seattle — A new report from MSLGROUP and the Hartman Group is underscoring grocers’ need to appeal to millennial shoppers in unique ways. The report, Food Shopping in America found that one of the youngest and constantly connected consumer groups is also a tough nut to crack — simultaneously impulsive, thrifty and wary of inauthentic marketing.
Report: Target to test grocery-delivery service

New York -- Target Corp. is joining other retailers in the grocery delivery service.

The chain plans to begin testing a grocery-delivery service, reports the Minneapolis-St. Paul Business Journal.

To read the story, click here.
REI gets its first ever CIO

REI has grown to 140 stores in 33 states with a sizable e-commerce operation. Imagine what the company will be able to do now that it has finally named a chief information officer and gotten aggressive about recruiting technology talent.

The national outdoor specialty retailer elevated Julie Averill to the role of CIO after the 25 year technology veteran joined the company last year as senior vice president of information technology. She joined REI from Nordstrom where she served as the department store retailer’s vice president of technology.
Here's how millennials put grocers to the test

A new report is underscoring grocers’ need to appeal to millennial shoppers in unique ways.
Survey shows how smartphones changing retail landscape

Austin, Texas -- Smartphones are quickly becoming the first screen for consumers — even in retail stores. But while consumers overwhelmingly prefer to access the Internet on their mobile devices, only 30% use retailer applications to purchase products.

Those are two of the key takeaways of a study RetailMeNot, which commissioned Forrester Consulting to look at how smartphones and apps are changing the retail landscape and how retailers should respond to engage shoppers.