News

Study: Brands don’t understand consumers
Armonk, N.Y. – There is a significant perception gap between how well businesses think they are marketing and the actual customer's experience. A U.S. study of 276 marketers and more than 1,100 consumers, developed by Econsultancy for IBM found that almost 90% of marketers agree that personalizing the customer experience is critical to their success.

Despite this widespread agreement, nearly 80% of consumers stated that the average brand doesn't understand them as an individual.
Sears aims to raise $2.5 with REIT
Sears Holding Corp. is looking to raise more than $2.5 billion by selling its stores to a real estate investment trust.

The REIT, called Seritage Growth Properties, will purchase 254 Sears and Kmart stores for more than $2.5 billion and then lease back the Sears and Kmart stores to Sears Holdings. Seritage will partially fund the transaction through a public rights offering.

RadioShack survives bankruptcy with 1,743 stores

Fort Worth, Texas – In what may be a tale of survival to rival the PT 109 ordeal of John F. Kennedy, RadioShack Corp. will exit Chapter 11 bankruptcy with some 1,700 stores intact.

A bankruptcy judge on Tuesday approved the sale of 1,743 RadioShack stores to hedge fund Standard General, preserving some 7,500 jobs, the Wall Street Journal reported. Standard General intends to operate most of the preserved RadioShack stores in an alliance with Sprint Corp.
Dick's to give up to $1M to youth golf charity

Dick's Sporting Goods and Golf Galaxy are teaming up to support an organization that promotes youth participating in golf.

The retailers said they will be giving as much as $1 million to the First Tee, an organization focused on positive youth development through the game of golf.
Report: Walmart outlines strategic initiatives in New York

Walmart plans to improve the customer experience, invest in its grocery business, and put pressure on suppliers to drive down prices, according to a Bloomberg report.
Retailers Steering Away from Port Problems

By Rich Thompson, JLL

Port problems on the West coast are giving retailers more than just a headache; it’s more like a severe case of sea sickness. But diversifying supply chain strategies can take the edge off.
Ace is now the place for store pickup

Ace Hardware is following the omnichannel retail fulfillment trend of free same-day store pickup for online orders.

The retailer had launched the service at some stores in 2014, but is now rolling it out nationwide.

The program “enables consumers in neighborhoods across the country to complete their home maintenance projects more quickly and easily than they were able to before,” Jeff Gooding, the retailer’s senior director of consumer marketing, said in a statement.
Fowler tees up campaign for PGA Superstore

The PGA Tour Superstore is looking to leverage the popularity of golfer Rickie Fowler with a new marketing campaign.

Fowler, one of the PGA Tour’s rising young stars, will help the retailer introduce a multi-faceted Custom Fit Campaign and Meet Rickie promotion.
Illinois credit union offers Buzz Points loyalty rewards

Decatur, Ill. - Decatur Earthmover Credit Union has selected the Buzz Points merchant-funded loyalty program. Buzz Points is free for consumers and allows credit union members to earn rewards by using their debit cards for everyday shopping.
Alibaba names online marketing president

Hong Kong – Alibaba Group Holding Ltd. has appointed Yu Yongfu as president of the company’s online marketing unit, Alimama, to spearhead the business into new areas of growth. Yongfu joined Alibaba Group in June 2014 to lead the company’s mobile business unit.

Prior to joining Alibaba Group, Yongfu was chief executive of Chinese mobile browser company UCWeb. UCWeb was acquired by Alibaba Group in June 2014. Yongfu will begin his new position today and will report to Daniel Zhang, Alibaba Group’s COO.